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Just received 1000's of pennies
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<p>[QUOTE="Michael K, post: 3249277, member: 78298"]The copper ones are only worth face value. They will never be worth more than that despite the misinformation that there is 2 cents worth of copper in there.</p><p>There may be 2 cents worth of copper in there but if it was legal to melt cents for the copper, cents are not grade A copper which is what the spot price is and the</p><p>melters will pay 25% of the spot price for alloyed copper. Copper would have to go to $6 a pound to break even. In it's history it hasn't been much higher than $4 and currently is in the $2.75 area. Anyone hoarding copper cents is going to lose money because when they find out it's only worth face value, Coin Star fees are going to bite them for 11%.[/QUOTE]</p><p><br /></p>
[QUOTE="Michael K, post: 3249277, member: 78298"]The copper ones are only worth face value. They will never be worth more than that despite the misinformation that there is 2 cents worth of copper in there. There may be 2 cents worth of copper in there but if it was legal to melt cents for the copper, cents are not grade A copper which is what the spot price is and the melters will pay 25% of the spot price for alloyed copper. Copper would have to go to $6 a pound to break even. In it's history it hasn't been much higher than $4 and currently is in the $2.75 area. Anyone hoarding copper cents is going to lose money because when they find out it's only worth face value, Coin Star fees are going to bite them for 11%.[/QUOTE]
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Just received 1000's of pennies
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