I am presently sorting 10,000 pennies (four $25 boxes) per day (takes about 1 hour) and finding approximately 25 percent (2,500) are 1982 and older 95% copper pennies. With copper above $4.50 per pound (150 copper pennies to the pound) these pennies have a melt value of about 3 cents each. Now that I have over 1 ton of U.S. Legal Copper Bullion Coins I'm trying to think outside the box and find a way to market/sell these pennies for at least a 50% profit (1.5 cents + each). My precious metal dealer www.ProvidentMetals.com sells 3 pounds of wheat pennies for $29.95 + s/h (6.6 cents each). I also see people selling these pennies on E-bay for 2 cents each. I can ship 10 pounds for $4.95 or 50 pounds for $10.35 using USPS Flat Rate shipping boxes. I believe these pennies will prove to be a great Inflation Hedge and a great long term investment. I would enjoy hearing from anyone that has an idea or a proven way to market these coins - EDITED If you want to contact doctorcoffey please use the PM system.
