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<p>[QUOTE="Michael K, post: 3383486, member: 78298"]Not worth the time, and the money does not add up.</p><p>People hoarding copper to melt in the future are going to lose money.</p><p>Massive amounts of pennies are not going to be able to be redeemed practically. The time involved, storage costs, 25% price for allowed copper</p><p>are going to be a surprise wake up call for a lot of people.</p><p>Even if you were allowed to melt cents for copper, copper would have to be $6 an lb just to break even. The highest it has ever been is $4+, and the current price is under $3. Copper spot price is for Grade A copper, pennies are not Grade A they are alloyed.[/QUOTE]</p><p><br /></p>
[QUOTE="Michael K, post: 3383486, member: 78298"]Not worth the time, and the money does not add up. People hoarding copper to melt in the future are going to lose money. Massive amounts of pennies are not going to be able to be redeemed practically. The time involved, storage costs, 25% price for allowed copper are going to be a surprise wake up call for a lot of people. Even if you were allowed to melt cents for copper, copper would have to be $6 an lb just to break even. The highest it has ever been is $4+, and the current price is under $3. Copper spot price is for Grade A copper, pennies are not Grade A they are alloyed.[/QUOTE]
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