jtryka Posted July 28, 2005 Report Share Posted July 28, 2005 ...Pennies?!? With the price of copper now at a record $1.71 per pound, the value of the copper in pre-1982 cents is now greater than face value. In fact about 153 pennies makes a pound of copper, which is now worth $1.71. How long before we see all the old Lincoln cents disappear from circulation? Do any of you save them? I admit, I put all my copper cent in a jar and get rid of the zinc ones (though I am not as bad as my uncle who throws the zinc cents out into the driveway so the lime from the gravel eats them to nothing ). Link to comment Share on other sites More sharing options...
16d Posted July 28, 2005 Report Share Posted July 28, 2005 My cents stay put. My drums of raw wire & dozens of radiators are history! Link to comment Share on other sites More sharing options...
Trantor_3 Posted July 28, 2005 Report Share Posted July 28, 2005 all that effort for 18 cents.... I'd wait Link to comment Share on other sites More sharing options...
Tiffibunny Posted July 28, 2005 Report Share Posted July 28, 2005 All mine are in my piggy banks, and that's where they will stay. Link to comment Share on other sites More sharing options...
ccg Posted July 29, 2005 Report Share Posted July 29, 2005 No. Scrap "dirty" copper is discounted considerably when bought. BTW, it's only 143 pre-1978 Canadian 1c to a lb. Link to comment Share on other sites More sharing options...
28Plain Posted July 29, 2005 Report Share Posted July 29, 2005 Never is a good time to melt coins. I never understood the idea of melting 90% silver coins. The coin premium beats the cost of refining, and the whole point of hoarding precious metal coins is to have real money ready to spend in the event that the currency tanks. Melting coins is a waste of money, in more ways than one. Link to comment Share on other sites More sharing options...
UncleBobo Posted July 29, 2005 Report Share Posted July 29, 2005 Just break into new housing developments and tear the new copper pipes out of the walls and sell that. Easier then melting pennies, and much more fun! Link to comment Share on other sites More sharing options...
gxseries Posted July 29, 2005 Report Share Posted July 29, 2005 Apperently, one of the very few reasons to remelt coins is because either a) they are totally beaten up to scrap, or else the mint is too lazy to fix the metal alloy proportion. But yes, (or option c) there were times of the precious metal crisis, and I know that quite a lot of world coins were sadly melted down because of the scare of "limited quantities". Link to comment Share on other sites More sharing options...
geordie582 Posted July 29, 2005 Report Share Posted July 29, 2005 Of course! If all numismatists melt them down they will become rare, won't they? There must be a living in that somewhere!! Link to comment Share on other sites More sharing options...
Scottishmoney Posted July 30, 2005 Report Share Posted July 30, 2005 Just break into new housing developments and tear the new copper pipes out of the walls and sell that. Easier then melting pennies, and much more fun! My first job out of high school I worked for a plumbing contractor, we would get calls from older folks complaining about their hot water heaters, and how they wanted to get a newer one. My boss smiled with glee at the prospect of selling a $150 water heater, $75 service call, and a $200 value scrap water heater from the 1930's coming back on the truck. Link to comment Share on other sites More sharing options...
daggit Posted July 30, 2005 Report Share Posted July 30, 2005 I can't part with my pennies! Link to comment Share on other sites More sharing options...
Sir Sisu Posted July 30, 2005 Report Share Posted July 30, 2005 I can't part with my pennies! You collect British coins? Link to comment Share on other sites More sharing options...
Mediccoin Posted July 30, 2005 Report Share Posted July 30, 2005 I'll keep my coppers and all the other ones that come my way Link to comment Share on other sites More sharing options...
Ætheling Posted July 30, 2005 Report Share Posted July 30, 2005 On melting coins. Many coin collector's get a bit upset when coins are melted down, i find it quite a good thing, meltdowns create rarities. Meltdowns keep thing interesting. If 1917 London mint sovereigns hadn't been melted down by the US government then we'd be swamped out with them, as it is, it's now the case that any 1917 London mint sovereign you see is most likely to be fake as very, very few have survived. I've certainly never seen one. Always wondered how many survived a few hundred, a few dozen, a few? Link to comment Share on other sites More sharing options...
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