Is Hoarding Pre-1982 Copper Cents Pointless!

Let's see, if they are worth 2.19 cents today and if they go up to just 2.4, and if one of the other copper savers says, I'll pay you 1.5 cents for everyone as he hedges that they'll be meltable at sometime in the future. I sell him 100 dollars worth of cents for 150 dollars. Hmmmm, I just made an easy 50 bucks.

I really don't see how anyone could call this pointless. And, I have to say, I'm finding this thread strangely entertaining, lol.

I just looked up ebay for sold lots of memorial cent copper bullion:

50 lbs ($77 worth of cents) sold for $108.02, and $107.52
30 lbs ($46.20 worth) sold for $84.99
$50 worth sold for $73.01

Hmmmm, it kind of looks like they made money. Granted, it is not a lot, but they made $, yet it is called the "stupidest idea" and "a waste of time."

Again, I don't understand why some seem to be emotional about not saving these, when it is plain that it is a money maker now as is, and the profit margin could potentially increase in the future.

Yep, I'm gonna keep separating them and I will make some $ doing it as well as have fun.

 

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I do find the Anti-Hoarders to be strongly opinionated, if not hostile to even the idea of keeping these Pre-1982 Copper Cents. Guys, if you had a chance to go back to when Wheaties were 13-35% still in circulation would you be snapping them out of your change and throwing them in a cup for the future?

 

I do not like the term "hoard".

I do like pre-1982 pennies. They appear to have and retain a higher quality than almost all pennies post 1984. As an American I am embarrassed by the low quality of our post 2000 Lincoln pennies.

Like other members here have already mentioned , it is a good time to be engaged in the hobby while acquisition funds are low.
Since I am already taking the time to search for DD , MM , Wide or Close AM errors , I might as well sort them on the 1st pass.
I save all pre-1982 pennies and separate those into bad pennies and good pennies.

They will either become collectible eventually or they will be needed to make "things" if the economy collapses and chaos ensues. Either way I never had to pay more than a penny for 1.

If you see a penny on the ground and heads is showing , then pick it up for good luck. If tails is showing then turn it over and leave it so that it will be good luck for someone else.
( unless of course you happen to see that it is a 1969-S DD )

 

Anything he wants

Actually, my pup eats Anything he wants.:whistle:

Well...there was the day he swallowed the Bose remote.

 

ALMOST pointless. I hope you can find something better 2 do w/ ur time. If your going to go down that route I'd recommend hoarding nickles. No picking!! plus the US gov loses most of its money on the nickle, not the penny. Or so I recall....DYOD. Just wanted to throw that out there.

 

now hoard overtake not hoard 33 to 32. interesting.

 

im sorry ....... i will stop banging my head.. you have enlightened me ! i now understand that copper bullion makes scense..:hatch:

 

I wanna go there...but I ain't goin' there! :kewl:

 

Half time

He didn't horde it. We got it back.:computer:

 

I find most of my interesting oddities and errors in the dates prior to '82 so I keep a running jar of them that i put under the microscope a little at a time when I get bored. If I don't find something unusual, they go back into the spending change. I don't bother even keeping the au's from those dates anymore because there are just too many out there. I have also seen guys selling rolls from those dates for $1.25 or so, but they are usually claimed as AU/BU rolls or some such thing. I doubt I could sell a roll of '81's in circulated condition for more than face. As for keeping it as 'bullion' or melt value later, I assume we are talking of a time when they will no longer be minted, however, I don't see that that would clear the way to legally melt U.S. currency. If the melt value of copper were so much greater than the value of a cent, I imagine the government would demand all the pennies be brought to banks to be traded in, like FDR and the GOLD.

B

 

and

Hmmmm. Read my post about 9 or so up. People are already selling copper cents on ebay for a profit. It is happening now. So, as I look through rolls for wheats and errors, I put aside the 59-81 in a jar. No extra time. And, when I sell, I will make money (and I believe the profit margin will increase over time).

How is it "pointless" a "Waste of time" and the "stupidest" thing ever?

LOL. I still don't get why the negatives have such strongly (or emotionally) worded opinions on this issue....it really cracks me up.

 

Yeah, and what are they going to do to me if I don't turn them in? Are they going to get a search warrant and enter my house for copper cents?

What about the people who didn't turn in their gold, but kept it secret for years. They are benefiting now for doing so, aren't they?

 

Perhaps they'll require you to pay for HealthCare in pennies. :kewl:

 

I vue a saving account pointless just to answer your question. Right now interest rates are so low that money in a bank saving account would hardly yield more then inflation.

 

Sad or Funny! Probably Sad!

I do not know if what you say is funny or sad, but I do know it is true.

 

They'll sick the "coppers" on ya !

 

It's good if you wish to borrow money but it doesn't stimulate investments in saving accounts and various other low bearing interest investments such as t bills.

 

What?!?

1) You can sell for more than face currently, albeit a small amount over face, but accelerating.

2) I do not understand your assumption? They aren't minted any longer and haven't been since 1909-1982 Cent (95% copper) - Now they are 1982-2010 Cent (97.5% zinc).

3) Where have you been Silver U.S. Currency has been being melted for the silver since they lifted the Silver melt ban in 1969 and they have only put a ban on melting Cents and Nickels back in 2006 so that people wouldn't start melting them immediately. Once they recover the majority of the 95% copper cents back from circulation they will lift the ban, just like they did with silver in "1969".

4) The melt value of a pre-1982 cents copper has been greater than the value of a cent for a long time now, here is a spot price today Description/1909-1982 Cent (95% copper) *, Denomination/$0.01, Metal Value/$0.0221993, Metal % of Denomination/221.99% CoinFlation

 

I save only the odd year'd pred 82 cent

 

The Hoarders are now the majority