Who buys copper pennies?

Discussion in 'Coin Chat' started by Sullysullinburg, May 4, 2015.

  1. Sullysullinburg

    Sullysullinburg Well-Known Member

    Note this is not an offer to sell, just a question. So who does buy copper pennies and if so how much do you pay. I have about $50 face that I want to get rid of and I want to see if their is a market before I dump them at the bank.
     
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  3. rockyyaknow

    rockyyaknow Well-Known Member

    My guess your best bet would to be to sell to someone local if you can find a buyer. Copper isn't very high right now and the shipping charges could hurt your profit if you were to use something like eBay.
     
  4. medoraman

    medoraman Well-Known Member

    I would say you have to find a local buyer. Shipping, like Rocky said, would kill most economics for such a deal IMHO.
     
  5. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    This isn't to say that everyone agrees, but they're a waste of money, and those who buy them do so without understanding that just because cents contain an amount of copper presently more valuable than the coin's face, this does not mean it's worth the sum of its parts, and is because of the alloy. To put it simply, cents are not grade A (what quoted copper prices are for) so they're not "worth" grade A prices in their present composition.

    Now, if there's someone willing to pay you an above-face premium, I see nothing wrong nor questionable about taking it, but just as was the case with the wheat cents you were selling, and has already been said, shipping costs must be considered. Perhaps, if you can get your father to accompany you, offering locally would be your best bet, or at least an option before turning them into the bank.
     
  6. mark_h

    mark_h Somewhere over the rainbow

    My local coin shop buys them for like 3 cents each - or something like that.
     
  7. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    For plain pre-1982s? I could see that for wheats, but cannot begin to fathom that amount for everyday "copper" cents. Where's the upside?
     
  8. mark_h

    mark_h Somewhere over the rainbow

    Sorry - that is wheat cents only. When I think copper I still think wheat cents. My bad. Of course they might take anything in exchange for gold or silver - of course I would call them first. :)
     
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