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Rising zinc price to doom the penny?
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<p>[QUOTE="calcol, post: 2487178, member: 77639"]Sorry again. I thought you were referring to zinc cents.</p><p><br /></p><p>Copper cents weigh 3.1g, so there are 146 in a lb. That's way below copper price of $2.15/lb, which is less than half its price 5 years ago. But you can't get copper cents at face value except finding a few still in circulation or in rolls.</p><p><br /></p><p>Consideration of why so many are being retained leads us into the strange lands of hoarding, speculation, and (dare I say it?) collection: inertia, ignorance, anticipation of rise in numismatic value, expectation of rise in copper price, fear of the apocalypse, fear of monetary collapse, mistaken idea that heirs would want to keep them, drive to collect (I wouldn't have a clue about that!), etc. I'm sure that if zinc hit twice face value of current cents that many millions would be hoarded rather than melted.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 2487178, member: 77639"]Sorry again. I thought you were referring to zinc cents. Copper cents weigh 3.1g, so there are 146 in a lb. That's way below copper price of $2.15/lb, which is less than half its price 5 years ago. But you can't get copper cents at face value except finding a few still in circulation or in rolls. Consideration of why so many are being retained leads us into the strange lands of hoarding, speculation, and (dare I say it?) collection: inertia, ignorance, anticipation of rise in numismatic value, expectation of rise in copper price, fear of the apocalypse, fear of monetary collapse, mistaken idea that heirs would want to keep them, drive to collect (I wouldn't have a clue about that!), etc. I'm sure that if zinc hit twice face value of current cents that many millions would be hoarded rather than melted. Cal[/QUOTE]
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