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1942 Lincoln Wheat"factorty err.
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<p>[QUOTE="Michael K, post: 3061807, member: 78298"]Let's say you have a tub of 100,000 copper cents, $1000 face value.</p><p>If you were allowed to melt it, you would realize $500. Not including time, storage, and transportation which are significant expenses.</p><p>So what happens now? If you cash them in at the Coin Star you are giving up 11%.</p><p>Although there are no fee gift cards avail. Even if you dump them at a bank, you may be charged up to a 5% fee. If they take them at all, they may not.</p><p>You could try to spend them, (coin acceptor at the grocery) but it's not practical to do more than about 500 at most and even then the machine can jam or get full before you are done, and that would take a year or more to get rid of your 100,000 cents. There may come a time in the future when cents production are halted and the deadline for redemption has passed. And everyone with a 55 gallon drum of them will be stuck melting them for half price.[/QUOTE]</p><p><br /></p>
[QUOTE="Michael K, post: 3061807, member: 78298"]Let's say you have a tub of 100,000 copper cents, $1000 face value. If you were allowed to melt it, you would realize $500. Not including time, storage, and transportation which are significant expenses. So what happens now? If you cash them in at the Coin Star you are giving up 11%. Although there are no fee gift cards avail. Even if you dump them at a bank, you may be charged up to a 5% fee. If they take them at all, they may not. You could try to spend them, (coin acceptor at the grocery) but it's not practical to do more than about 500 at most and even then the machine can jam or get full before you are done, and that would take a year or more to get rid of your 100,000 cents. There may come a time in the future when cents production are halted and the deadline for redemption has passed. And everyone with a 55 gallon drum of them will be stuck melting them for half price.[/QUOTE]
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