Thought I would ask everyone what they thought about 'hoarding' copper pennies.
Recently when I mentioned recycling Lincoln cents back into the mainstream a couple of coin dealers wanted to know why I am not keeping them.
Now, tell me, are they *really* worth holding onto?
I have been all over the internet searching for answers to that question and cannot come to a conclusion.
And, I have not been able to find out for sure if selling old copper pennies to a metal recycler is even legal.
Checking for federal laws about this subject left me more in the dark and farther afield than I had ever thought could happen.
Has anyone found out anything legally definitive about what we can and cannot do with our pennies?
Corky
Full Version: Copper pennies
ive seen ppl sell em on another forum.. its llegal to take coinage into a recycling place and sell them...
It is illegal to melt US coins at this time. As far as the value of saving the coppers - maybe. People have been saving wheaties since 1959 and they have been selling for approx 3 cents each for quite a number of years. Recently with the copper run-up they moved to 5 or 6 cents each in bulk lots -- back down to 4-5 cents. So, how long do you have to hold something to make a 200 or 300 or 400 percent profit worthwhile? If you have 100 dollars worth of coppers, perhaps the 100 dollars used to purchase one EF Large Cent would prove to be a better investment over the same period of time.
It's anybody's guess.
It's anybody's guess.
Art does make a good point about investing it.
Worse case scenario keeping them, you break even (kind of). I've got maybe 20lbs worth of coppers sitting here and at my parent's. What am I going to do with them? Roll the dice and hope for the best! Knowing me if I cashed them in and bought that EF Large Cent, it'd never be sold!
Worse case scenario keeping them, you break even (kind of). I've got maybe 20lbs worth of coppers sitting here and at my parent's. What am I going to do with them? Roll the dice and hope for the best! Knowing me if I cashed them in and bought that EF Large Cent, it'd never be sold!
I'm keeping them in the hopes that when I have time I will sit and look for the best of them and maybe put a little coin shop somewhere in the world. 
eh ive been counting rolls and under my bed i have 3000$ worth of copper pennies.... eh i would take a pic of em all but there mostly holding my bed up lol!
under my bed i have 3000$ worth of copper pennies....
Guess there isn't much room for dust(in) bunnies under your bed.
Right now I am still torn about getting rid of the real coppers, but if I decide to keep them then I have to go through all these rolls and find out which ones are coppers. There are about 300 rolls right now, and counting.
Well, whatever. But I did promise myself that the proceeds would go to the Boys and Girls Club in our little town.
A friend says we are the smallest town in the U.S. that actually supports its B&G Club without outside help.
My grand daughter and her pals spend a lot of time there.
Looks like the majority of the pennies have to go.
Corky
Guess there isn't much room for dust(in) bunnies under your bed.
Right now I am still torn about getting rid of the real coppers, but if I decide to keep them then I have to go through all these rolls and find out which ones are coppers. There are about 300 rolls right now, and counting.
Well, whatever. But I did promise myself that the proceeds would go to the Boys and Girls Club in our little town.
A friend says we are the smallest town in the U.S. that actually supports its B&G Club without outside help.
My grand daughter and her pals spend a lot of time there.
Looks like the majority of the pennies have to go.
Corky
QUOTE(corkykile @ Aug 30 2007, 12:24 AM) 
under my bed i have 3000$ worth of copper pennies....
Guess there isn't much room for dust(in) bunnies under your bed.
Right now I am still torn about getting rid of the real coppers, but if I decide to keep them then I have to go through all these rolls and find out which ones are coppers. There are about 300 rolls right now, and counting.
Well, whatever. But I did promise myself that the proceeds would go to the Boys and Girls Club in our little town.
A friend says we are the smallest town in the U.S. that actually supports its B&G Club without outside help.
My grand daughter and her pals spend a lot of time there.
Looks like the majority of the pennies have to go.
Corky
Guess there isn't much room for dust(in) bunnies under your bed.
Right now I am still torn about getting rid of the real coppers, but if I decide to keep them then I have to go through all these rolls and find out which ones are coppers. There are about 300 rolls right now, and counting.
Well, whatever. But I did promise myself that the proceeds would go to the Boys and Girls Club in our little town.
A friend says we are the smallest town in the U.S. that actually supports its B&G Club without outside help.
My grand daughter and her pals spend a lot of time there.
Looks like the majority of the pennies have to go.
Corky
eh i need to put em in the basement but too lazy.. hate to see when i move out lol
QUOTE(dustin43160 @ Aug 29 2007, 09:29 PM)
eh i need to put em in the basement but too lazy.. hate to see when i move out lol
The basement might be too damp and it could cause them to get ruined.
Hey Dustin, check out the Roosie I just posted... I think it might be a double on the reverse.
Corky
QUOTE(corkykile @ Aug 30 2007, 12:48 AM)
The basement might be too damp and it could cause them to get ruined.
Hey Dustin, check out the Roosie I just posted... I think it might be a double on the reverse.
Corky
Hey Dustin, check out the Roosie I just posted... I think it might be a double on the reverse.
Corky
yea it is floods almost every weekend lol kk will do!
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