The copper cents are 95% copper. So even if they become legal to melt, you will not get paid much for them, since they aren't 100% copper.
No! Pre-82 Lincoln cents are not Grade-A copper. I've tried and tried to make people understand that they are just an alloy. The refiners who might be interested in taking them to extract the copper are only going to pay about 25% of the price quoted for pure copper. It takes about 142 Lincoln cents to equal one pound. Therefore, the price for Grade-A copper would have to be about $5.70 just to break even. Chris
Don't even bother.. Waste of space Go to a Scrapyard and take real metal to sell! This is me in back of my brother's truck! I take copper, aluminum, old pipes, air ducts, data and electrical wiring. I come out with a few hundred bucks everytime for my pockets. I asked them about copper Cents.. They laughed!
The market has been so bad, I have not made a trip in two years but still saving copper, aluminum, brass, bronze, wiring and circuit boards. Steel and white goods are no longer worth the effort.
Again as always, thanks because the bag was getting big. What about wheat back pennies? You guys keep any of those for any reason(s)?
I actually do keep the pre-1982 memorial cents, though not because I expect to ever actually melt them down. There's something oddly reassuring about holding a coin that is actually worth something intrinsically, a rarity among circulating coins these days.
I keep all my change. No real reason. But I do separate them by decade and pre/post 82s. I truly believe that they will be worth one cent in the future. If I melt them all and the rest of the junk they'll make a nice and heavy casket. So I'll be able to take all my money with me in a gold, silver, copper, nickel, zinc, etc alloy.
I don't search a whole lot of cents but I do hold the coppers. I pull them out and sell them to other collectors for a little profit. Not much. I sold 5 bank boxes a while back for about $175. If I get bored, I'll search them myself. There is a no loose situation there for me! Happy hunting and hoarding!
At 25% the grade A melt price, copper would have to go to $6 a pound just to break even. It has never been much higher than $4 and is currently in the $2.71 area. It's not worth it, and it will never be worth it in our lifetimes.
