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Should we be jumping on the penny hoarding bandwagon??
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<p>[QUOTE="model77, post: 1321851, member: 34102"]per coinflation the melt value of one penny is 0.02. that is a hundred percent return. you currently can not melt and there are not many stacking copper so it is hard to see that return. copper WILL go up though. With time, everything goes up. cheeseburgers use to be a nickel so I'm told. As the price of copper goes up people will start hoarding junk copper like they do junk silver. When i told my mom I was roll searching for junk silver, her response was, "man I wish I would have thought of that back in the "60's I could have made a killing." I wonder if this same debate was happening back then but on silver instead of copper?</p><p><br /></p><p>I think:</p><p>the penny will be discontinued in the next several years, at which point there would be no reason to keep the melt ban.</p><p>If the value of copper goes up Pennies could be traded as bullion just like junk dimes and other coins. </p><p><br /></p><p>If you are 70 there is no investment potential here, but couldn't this be a wise choice for a high school kid, or someone setting aside for their kids?</p><p><br /></p><p>The more I read this thread and think about it, the more wise the idea seems to me, in moderation. I don't think I would fill the shed with pennies! I look forward to hearing the many flaws in my thinking! :smile[/QUOTE]</p><p><br /></p>
[QUOTE="model77, post: 1321851, member: 34102"]per coinflation the melt value of one penny is 0.02. that is a hundred percent return. you currently can not melt and there are not many stacking copper so it is hard to see that return. copper WILL go up though. With time, everything goes up. cheeseburgers use to be a nickel so I'm told. As the price of copper goes up people will start hoarding junk copper like they do junk silver. When i told my mom I was roll searching for junk silver, her response was, "man I wish I would have thought of that back in the "60's I could have made a killing." I wonder if this same debate was happening back then but on silver instead of copper? I think: the penny will be discontinued in the next several years, at which point there would be no reason to keep the melt ban. If the value of copper goes up Pennies could be traded as bullion just like junk dimes and other coins. If you are 70 there is no investment potential here, but couldn't this be a wise choice for a high school kid, or someone setting aside for their kids? The more I read this thread and think about it, the more wise the idea seems to me, in moderation. I don't think I would fill the shed with pennies! I look forward to hearing the many flaws in my thinking! :smile[/QUOTE]
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Should we be jumping on the penny hoarding bandwagon??
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