In this collection from my father in law there is a large tin of about 500 1 cent pieces. Is it worth going through them all and if so what am i looking for dates, designs etc or something else
Are they Memorial reverse, wheatbacks, Or are they older? Indian head cents? Are they mint state red? or do they all look brown. Another question are they worn? Take a photo of the coins in the tin.
Personally, I keep all the pre-1982 cents I find. Don't expect to ever get rich doing that, though, as copper would have to go quite a bit higher to ever profit from melting them.
That and the law would have to change. You'd probably be better off trading your pennies for gold or silver. Your call of course. No judgment from me.
thanks, i will spread them out a bit as i check them, post a photo and see if anything catches your eyes
There are a lot of variety's involved with US Cents, and can take an ordinary couple dollar Lincoln and turn it into 20$ or even a key date into the $100 + range. Memorial reverse Copper plated zinc (Red brown) 1983 to 2008 Memorial reverse Bronze/copper (Brown) Wheatback (red) Two of the above coins are worth a premium because they are variety's. Depending on the condition of the coin will determine how much of a premium that is. Another one is the Indian Head Cents or IHC's. If you have a tin of these you could have a small fortune. Large cents
That's years of contemplating, planning and decision. With no regrets. I know, I like those old slabs as well.
This is a fallacy. Copper has never been higher than $4.63. If it was legal to melt pennies for their copper it would have to reach a price of $6 just to break even. The current price is $2.55. Pennies are an alloy and only bring 25% of the spot price which is for Grade A copper. Anyone who has been saving copper pennies is going to get burned.
