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<p>[QUOTE=&quot;Endeavor, post: 2557443, member: 60292&quot;]If there is ever a CoinTalk Hall of Fame created, this guy needs to go in first ballot.</p><p><br /></p><p><br /></p><p><br /></p><p>Huh??</p><p><br /></p><p><br /></p><p><br /></p><p>We&#039;ve discussed this several times before on other threads. If I remember correctly, I read that metal refiners usually pay about half of melt value for copper. The reason for the significant reduction is mostly due to the costs of smelting (along with some margin from spot price). I don&#039;t understand why they charge a percentage of melt value and not a fixed amount.</p><p><br /></p><p>So in order for pre-1982 cents to be truly worth more than face value to a hoarder, the melt value has to exceed double the face value. In other words more than 2 cents.</p><p><br /></p><p>At current copper price, melt value is below 2 cents. However, copper price reached a peak of about $4.50 per pound in 2010. At that time copper cent melt values peaked at about 3x face value.</p><p><br /></p><p>With that said, even if current melt values were 3x face value and you called a reclamation center as Chris suggested, you would not be offered anything at or above face value because it is currently ILLEGAL to melt cents.</p><p><br /></p><p>Now the big question is, when cents are discontinued and therefore become legal to melt, will the price of copper rise or crash? I personally think copper price will crash because of the new supply.[/QUOTE]</p><p><br /></p>

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