Somebody I know, (not me really!) keeps all the copper Pennies (pre 1982) he finds in his change. He has hundrends of rolls of them. I'm not talking just wheats but anything copper. Their reasonsing has been that if copper prices ever skyrocket, they'll be there to cash in. Anybody else do this? Seems kinda like a lot of work to me.
I confess , I save all the cents from 1959 to 1981 in bags. The only ones I roll are the AU's or better. I am in this for the long haul ( if there is one ).
Well, pennies aren't currently legal to melt down, so anything short term is probably futile. Keeping ones for numismatic reasons I think isn't a bad idea if you plan on giving them to the grandkids some day. On the other hand, I do have a coin discriminator that I bought and tuned that will sort between the '82 and before and '83 and after. But not even I know what I will do with those I've sorted. There is a weight/density difference due to copper vs zinc. Anyhow, to take a look at some of what has been done (as far as sorting) by others, you might search in youtube for Sportsdude's Penny Sorter or ryedale sorter.
Some believe that copper (<1983) is the next silver (<1965). Polls on this forum are usually split 50/50 on this issue. IMO, it is a very low risk investment at face value and if someone finds pleasure in hoarding/saving, then he/she should go for it!. TC
I don't have exact current figures right now, but last I heard copper was a little over $3/lb. It only takes about 3 rolls of copper (154 coins'ish) to make a pound of copper. So, they are automatically worth slightly over .02 each in melt value! I'm like kangayou, I roll the nicer ones, and stash the rest, not really for the melt value, just because "they don't make 'em like that anymore". If you search EBAy (people will buy anything) you can find auctions where the hoarding is paying off. Heres one for 7 lbs (7 x 154 = $10.78 'ish in face value) that sold for almost $27! http://cgi.ebay.com/Copper-Cents-7-...mQQptZCoins_US_Individual?hash=item3efe6e279f
I admit that I put all my copper pennies in jars. I picked this up from my grandfather (whose collection i have since inherited). I takes up some space, but in the event of copper prices sky rocketing I guess I'll be ready.
