Recently, I have accumulated a hefty amount of copper pennies, all searched lincoln memorials. I thought of selling them for 95% their total weight in copper. I really dont know if I should sell them or not and where to sell them. As of February 4, 2023, the price of copper per pound is $4.04 but I am waiting until that increases. I have 20 pounds of these pennies which is overpowered when it is used as weights for my afternoon exercises.
That's the price for PURE clean copper and good luck getting close to that from a metals recycling center. Considering that the memorial cents are 95% copper and 5% tin... 95% of total weight isn't a bargain? As of now your still not allowed to melt cents to recycle the metals. I know a guy that took 1000 copper cents and sculpted an eagle for his metal detecting shop. Someone really liked it and traded him paper money for it.
Don't even bother taking them to the scrap yard. They won't buy them. You're better off rolling them up and depositing at your bank.
It's illegal to melt copper pennies as rte said. I don't know why. And @paddyman98 is right, the scrap yards will not take them.
I know it's impractical to melt them even if you could because of the tin added tp the copper. Still I can't bring myself to get rid of any that I acquire based on their copper value. I have a lot of them but oh well, they'll always be worth a penny.
Well, time to use them as weights then. It would be nice to know that my muscles would be made from money, literally. Cold hard body physique from cold hard coins.
At 12.5 cents on the dollar? No Thanks. The only coins that I send to one of those is from metal detecting.
