50 cent rolls of copper cents worth $3?

Discussion in 'Bullion Investing' started by Drago the Wolf, Mar 26, 2010.

  1. Drago the Wolf

    Drago the Wolf Junior Member


    I was at a pizza place yesterday, buying some chicken wings, and someone had left a 1981 copper cent on the counter, so I asked if I could have it, because I now hoard copper cents, and the workers there said "Go for it" so I took it, and I told them I was keeping coppers from now on, and this one guy working there said "Yeah, those copper cents are going for $3 a roll. In other words, you get a $2.50 profit off each roll of coppers, so, I wanted to ask, is that true? Are copper cents really worth that much? Because if so, you would think that almost everybody in the U.S. would be hoarding them, and cashing them in. So, I thought I heard the $3 a roll thing before, but is it true? If so, I'm going to start getting $100 in cents each month, hoard all of the coppers, and send all of the Zincolns back to the bank for more cents to search.

    And one more thing. If the government changes the composition of cents to steel, it would probably be worth it to start hoarding the Zincolns too, wouldn't it? And if they change the nickel, dime, quarter and half to a cheaper metal composition, I'm likely going to start hoarding as many cupronickel nickels, and as many copper clad dimes, quarters and halves as I can afford.

    One last question. Why are there no talks of the U.S. Mint wanting to change the composition of the golden dollars to a cheaper metal as well? Can't they find a cheaper metal than a manganese brass alloy for those too?
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  3. bqcoins

    bqcoins Olympic Figure Skating Scoring System Expert

    hmmm, I doubt that copper cents are going for $3 a roll as the copper in them is only worth about $1 (per roll).
  4. Drago the Wolf

    Drago the Wolf Junior Member

    Well, to me, even that 50 cent profit seems well worth it. I mean, who wouldn't want to "double their money"? ;)
  5. wokeupscreamin

    wokeupscreamin Junior Member

    he said th copper is worth a dollar. Not a roll of pennies is worth a dollar. With copper pennies being as common as they are.. its gonna take a long long time to them sell for a premium. And until they change the melt laws, good luck finding someone who will pay for the copper in your pennies.
  6. Pocket Change

    Pocket Change Coin Collector

    OK. I got confused at the beginning about buying chicken wings at a pizza place :)

    I would go back to the distinguished gentleman at the pizza place and offer a roll of coppers to him for $2.50 (discount price). If he accepts, please provide coordinates!
  7. Coinman1974

    Coinman1974 Research, Research, Research

    LOL, yeah I would like to hear those too. In no time that guy would be broke, well not exactly, as he'd have a ton of penny rolls.

  8. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    I believe it takes 153 or 154 copper cents to make a pound of copper. Compare that to the current price of copper, and that is the intrinsic value of the coins. Copper is currently around $3.40 per pound.
    redskins26 likes this.
  9. SilverSurfer

    SilverSurfer Whack Job

    Hey, Wolfman. You gotta check out this site.


    There you will see why they aren't changing the metal in the pres dollars. The mint is against making steel coins. They were happy to announce that all of the metal in their coins are 100% recoverable. Steel isn't very recoverable, so cents that were made out of steel would just end up in a land fill when they were deemed useless.

    As you can see, zinc pennies are about 65% intrinsic. So, saving any penny probably is a good bet. Plus, Nickles are 25% nickel and 75% copper. As nickel is about $10 a pound, it makes sense to hoard them as well. But, if you look at dimes, quarters and half dollars, you'd see that they have a long way to go before the metal is worth more then the face value.

    P.S. There is more copper intrinsic value in a copper penny than in a dime.
  10. LewR

    LewR Junior Member

    Is it legal to smelt pre-82 pennies for copper/tin - etc.?
  11. Coinman1974

    Coinman1974 Research, Research, Research

    As far as i know, yes it is illegal to melt copper pennies.

  12. fatima

    fatima Junior Member

    From a numismatic perspective, they may be worth upwards of $3/roll. I've seen rolls of pre-1982 pennies running from $1.50 - $2.50 at some of the coin shows that I've been too.
  13. k9brain

    k9brain Junior Member

    If you start searching rolls you will find that copper cents are being taken out of circulation, it's Gresham's law.
  14. sunflower

    sunflower New Member

    This has been my experience. The copper cents are already thinned out of the circulated rolls from the bank.

    Along similar lines as the original poster, I did have a gut feeling not so long ago that the half dollar coins by the US Mint could be cut back on or ceased. When I quaried my gut feeling for a possible rationale, the thought about a mass of state quarters came to mind. Also, vending machines and car wash machines do not generally accept the half-dollar coin.

    I like the clad halves a lot. My dad said that the coin shops have been recogizing numismatic value for the modern clads for a while now.

    In regard to roll cents, I have seen them advertised for 1.00 a roll.

    Personally, I like the zinc cents too. I do not have a lot, but I did pick up a few boxes from the bank.

    Good luck with your hoarding. It is an enjoyable hobby.
  15. bobbeth87

    bobbeth87 Coin Collector

    A recent look on Ebay completed auctions showed that 50 lbs or $77 of copper cents went for about $108.

    No, $3 a roll doesn't happen.
  16. dctjr80

    dctjr80 Senior Member

    I just had a thread about this.

    1) The copper in one roll of Pre-"82" Cents is worth over a Dollar now. (regardless if it is currently illegal to melt for it)

    2) Not such a long time, since (1) they are thinning out of circulation currently & (2) they are already selling on the Internet and at shows at a premium.

    3) We have NEVER minted a Penny in the United States of America only Cents!

    4) I just finishes a thread that the OP might find interesting about this topic.

    Is Hoarding Pre-1982 Copper Cents Pointless!
  17. LewR

    LewR Junior Member

    How much energy is needed to smelt copper cents? What kind of equiment? Is it easier and cheaper to electrically remove the copper so the end product is pure?

    Just tossing these thoughts out there...
  18. SilverSurfer

    SilverSurfer Whack Job

    It's illegal. Enough said.
  19. jow

    jow New Member

    who cares id smelt it
    slackaction1 likes this.
  20. jow

    jow New Member

    acetylene and oxygen or propane stove, smelting basket and retriever, form, gloves, and safety shield. then melt and pour and let cool. or just make bronze with brass and tin? i think. id have to look that up.
  21. jow

    jow New Member

    and lemonade stands are illegal, but kids get away with it in every city. adultery is illegal, my wife did it and still took all my stuff. its not what you do its who cares that you did it. LewR
    slackaction1 likes this.
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