Discussion in 'Error Coins' started by Freddie Callahan, Aug 22, 2019.
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Pennies are not Grade A copper, and do not contain 100% copper. It is an alloy. The spot price is for Grade A copper. If you were allowed to melt pennies you would receive 25% of the spot price. Requiring $6 a pound to break even. The highest it has ever been is $4+ and is currently lower than $3. Melt value is 1/2 cent. It's worth more as a face value .01 cent coin.
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