Do you think copper prices will ever go up to the point where it will be worthwhile to save pennies before 1982?
I don't think it would be worth it. First of all, the reason it costs more than $0.01 to make a cent is largely inflation as well as copper prices rising. Second, investing in copper is the same as investing in anything else, so it has its ups and downs and unexpected changes and such. If you are looking into investing in copper, you might want to take a look at this: http://www.kitcometals.com/charts/Copper.html http://www.kitcometals.com/charts/copper_historical.html I find Kitco charts very usefull myself. Have fun, ~Numis
pre 1982 pennies b.v. worth $0.021 as of yesterday closed. penneis after 1982 is about $0.008 each. while nickels worth $0.052.
I still think its worth saving pennies (excuse me, Cents) made before 1982, jst like on those rare occasions you get pre-1965 Dimes and Quarters it is worth setting them aside
I've known metal collectors that do that for a living. They go through all the alleys, construction sites and pick up any metal of any kind. There are numerous places around here that are metal recyler plants and pay pretty good for some metals. However, you must remember that just how many pennies, cents, do you need to make it profitable. For instance everyone forgets the cost of just having a pile of coins worth a hair over face value laying around instead of collecting interest in a savings account. After a several yeasrs they will still be worth a little over a cent each. Then there is the cost of gasoline to run around trying to accumulate large amounts of pennies. Then there is the cost of transporting them to a metal recyling place which needs the accumulation of wear and tear on your vehical. Now while your collecting all those pennies, cents, someone in a country somewhere discovers a massive copper mine. Guess what happens to the value of your thousands of copper coins.
Hi folks, this is my first post. Yesterday my friend at work told me that he has started to set aside the cooper cents he gets. He gets ten rolls of cents from he bank each week. Also I read an artical that stated that cooper cents are now worth 2.4 cents and soon we may not see the cooper cents in circulation just like the wheat cents.
That is highly immoral to do! Saving them for future generations is one thing but sending them to be destroyed for all eternity is plain wrong. Once they're gone, they're gone. BTW, welcome to the forum LSM!
i wonder..... coinflation missing the ike dollar 40% silver coin and the copper-nickel clad copper coin.
Unfortunately, in too many cases, even in numismatics, immoral=profitable. if you destroy alot of even the low grade specimens of high volume produced coins like the U.S. cents, then you created a depletion in supply. The supply:demand ratio then lowers. As the supply:demand ratio decreases, the price increases, as will demand since the coins are no longer readily available. The same can be accomplished by even removing the coins en masse from the supply (hoarding). This can also drive up the demand and price. When the coins are once again release into the supply, the demand and price will once again decrease. This is why there is such a spread between even one grade point on uncirculated plastic such as NGC and PCGS. As coins for a certain grade become available, demand is met for those specific grades. But when the coins are not traded and are hoarded/collected, as new specimens become available, the price goes up, unless a hoarde is released back into supply to bring the supply:demand closer to or over a ratio of 1. :goof: But I'm sure nobody here is actually interested in the economics of numismatics. We all just want to collect, not hoarde, manipulate the markets, or make investments or anything like that Personally, I see the copper cents as being slightly profittable in the long term, not because of the value of copper necessarily so much as the supply:demand ratio is going to go way under 1 which means big profits.
