Hoarding copper pennies

I've got about 40 lbs worth so far...

 

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Can anyone tell me if the pennies from 1982 are all copper, all zinc, or did they make both that year?
If both, did they make both at both mints, or just copper at one & zinc at the other?
Thanks

 

My 2 cents

If Copper and unc/slider I been keeping them.a lot copper unc sliders cent have be showing up lately.I guess the penny banks have broken in to & been rolled up and cashed in?

 

I never hoarded them, but I did save them. Just recently I poured them into my spendable change jar.

 

They changed in the middle of the year, so you would need to weigh them to find out.

 

If you have the money and the room I would say keep these coins... my reason wouldn't be for melt though.

It seems that many people keep wheat pennies because you can quickly see that they are old. I think it is a safe bet that the number of wheat pennies available won't change much over the next 20-30 years. Memorial pennies from the 60's/70's will likely become harder to find as they continue to wear out. They don't look any different from the 80's/90's/00's unless you actually check the dates. I think in 20 years these older memorial pennies might actually have a slightly higher value over many of the later wheat pennies.

my personal example- My grandfather kept a Penny folder up until 1958? I picked up the next folder and with my loose change I was able to fill in all the 80's and 90's but only a handful of 70's and 60's dates. (lucky for me Grandpa also rolled some pennies during the early 80's and never turned them in, those 25 rolls filled nearly every gap I had) Without his older penny rolls I would have had a hard search to find most of these earlier memorial cents.

 

Or drop them and listen for the ring. Copper rings, zinc thuds.

 

I shred them then compress them, take them to a local scrap yard get a check and instant return on my investment. How lovely isn't it?

 

hmm how does one do this?

 

I'm amazed that you think that would be a good use of your time and that you believe it is a good return on your investment, if, of course, you actually do this.

 

I have an interesting point I'm surprised no-one has brought of. Lets just say meting pre-1982 coppers does become legal. Then you get a whole bunch of people melting these coins which will cause them to disappear, making them harder and harder to find. Once enough people have melted them because they hold "little to no numismatic value" and millions have disappeared from circulation, think about what will happen to the value. I personally keep the ones I get in change just for the heck of it. I search them for varieties and throw them in a bucket. I never plan on melting them, just saving them until one day it is legal to melt them and enough people do it to drive numismatic value up. I know its a long shot but my grandchildren and great grandchildren will probably appreciate it.

 

Not any different than what happened to the silver in the late 1960's. I wasn't around for that one, but its still Gresham's law.

We are talking about certain years of pennies, but what about nickels? All of them are above melt value now. Anyone just grabbing complete bags of them in anticipation of a change in metal? I had thought about it.

 

I buy a box once in a while. I have even searched a couple. I figure, at worst, it would be fun ten or twelve years down the road, if I have kids interested in coin collecting, to hand them a folder and box from a decade past. I don't think they will ever be hard to find, even if the composition does change, but it is not hurting me to save a few.

 

I bet the same was said in the 60's of silver coins and buffalo nickels, I know the same was said in the 80's of copper cents. If they made a dramatic change to the composition and look of the 5 cent piece I bet you would be surprised how quickly they disappear.

I am not saying I would buy $10,000 of them right now, just something to think about. I might go this weekend and get a bag or two just for kicks.

 

Heck it's already hard to find any nickles from the ;50s and 60's let alone the 30's and 40's .
and pre '82 cents are already harder to find give it another ten years and it'll be like finding a wheaty today .
rzage

 

Ahhh slanky bobbeth.
You see when you have cash, you figure out ways to make and compound more cash. As for that each brick brings in more than that lowsy $1950 you brag about.

As for everyone else, I'll scrap and compound your pennies for free. Except for bobbeth

 

Very classy Cerd, especially "slanky." lol

 

I have purchased ten boxes of nickels. I've gone through half of them looking for V's and Buffaloes, War Nix and pre-1960.

I don't cash them in. They go into my safe. When I search a box of cents I pull all the pre-1982's.

Nickels and pre-1982 cents are the only "real" money presently in circulation. Copper and Nickel will continue to increase in price.

Even if they don't lift the melt bans on cents and nickels, I can see people selling them by the roll in the future. Just like silver junk is sold now.

Cent and nickel composition are going to be changed. Hell, cents may be discontinued in the near future. Nickels are great because you don't even have to sort them if you don't want to. They are all 75% copper and 25% nickel. Worst case scenario a box will always be worth the $100 you paid for it. Its a no brainer. Its also fun. I anticipate selling rolls for present compositon nickels for 5x face in 10-15 years. Maybe even more. Could I be wrong? Absolutely!

 

A woman I know showed me some coins her father had saved.
Included were two rolls of circulated common-date wheat pennies.
I suggested that she spend the corroded ones and keep the others.

About two months ago she received a Mercury dime in change from the local
Safeway store's change machine.

So she is already ahead.

 

Great post, I agree with you completely. :thumb: I accept the fact that I could be 100% wrong too, but I am enjoying the process of collecting so I win either way.