I don't know where I am going with this but ........... We have not had any coins with any "intrinsic value" for over 20 years, the last is the 95% copper Lincoln Cent which since was replaced in 1982/3 by a copper "plated" cent and is basically and virtually worthless. We all know (at least us old geezers) what happened when the market spot price of silver approached and surpassed the intrinsic value of our silver coins - shortly thereafter there were not many to be found in circulation or in change, if any at all. We are now approaching the last of an era - our last US coin in circulation that has some "value". (Unfortunately, the US Government has recently made it illegal to melt the "Pennies".) Some time back I think I calculated that at 3.11g and 95% copper it would take 130 ($1.30) of the cents to equal one full pound (troy) of pure copper. A quick check of the current price of copper will tell you that the current market price of copper is WAY over the value of this lowly cent - several times over! Anyway, I have been "hoarding" these copper cents for some time now and have many POUNDS socked away. I have a future goal in mind - that is to see if there possibly will be a market for these last of the dinosaurs, a coin with "value". I plan to package them in "one pound lots, 130) and see if there will be a market at coin shows and maybe sell in larger bulk lots to "speculators". Basically, it is free money, for all, (young, old and the beginning collector) if anything can be done with them and when the information gets out don't be surprised never to see them plentiful in circulation again as they are today! Comments folks?
I have been saving the pre '82 cents as well. when I search rolls for wheats and errors, I roll up the older ones and stick them in a corner.
I had thought the same thing and I think a lot of people must think the same. Because when I roll search these days the copper ones are few and far between.
I've been saving them too , but not religiously , so I might have 100 af them . should start saving more of them . rzage
I've got two old wine jugs filled with pennys from back in the '70's early '80's. One 'o these days I gota' pull 'em out of moth balls.....now where did I put them? Hope the kids didn't find 'em.
I got a couple empty 1/2 gallon run jugs full of them also. I hope they play out as well as the original contents.
Yeah, ebay has just about everything. But, one has to pay shipping and other "fees" - my idea was to one day (after the idea catches on a bit more) offer these to dealers and most likely below ebay prices ...........
First comment, copper is not measured on the troy scale so there are 16 standard oz to the pound for copper, not 12 troy oz. So there are 146 copper Lincolns to the pound not 130, and if you want the lot to actually contain a pound of copper then it has to be 154 coins. While it is currently illegal to melt the cents, once the copper cents make up a tiny amount of the cents in circulation (or a little while after the cent is discontinued) the no melt law will probably be repealed. (Back in the mid to late 60's it was also illegal to melt down the silver coins as well, but in the early 70's after all of the silver had disappeared from circulation the law was repealed.) These laws are in place simply to stop massive withdrawal of the coinsfrom circulation which would cause a major coin shortage and difficulties to the economy. Once they are all out of circulation from natural attrition melting them own has no effect on the economy and so there is no reason to prevent it. Also by making it illegal it helps to keep them in circulation longer which gives the government more time to pull them out for melting on th governments account. That was the case with the Fed and silver coins in the late sixties. While the government was trying to assure us that the clad and silver would circulate side by side for many years to come, all of the dimes, quarters, and halves that came back through the Feds hands were put through a seperator and only the clads were sent back out to the banks.
I've found the opposite lately, I have been finding more pre '82 cents than ever, and quite a few in AU conition. I don't know if in these tight times more people are cashing in thier piggy banks or what.
I usually find about 20% or more copper cents in the rolls I search. Today, during my normal shopping, I received several in change with each transaction. Two were as you said, near BU, nearly 100% red and looked like they were minyed yesterday - the two "near BU" I got in change today were a 1979 and 1981.
I have also found more pre '82's lately. Maybe its coinstar and people breaking the piggy banks or maybe I'm just more aware. Lot's of D mint marks too. That's odd on the east coast.
That's what basically what I was going to post. I save them more as a compulsion than because it will be profitable. I can't bring myself to spend something that I know is worth more than face. But copper ain't silver.
