Myers Depot Metal Detectors

Should I?

BluegrassJames

BluegrassJames

On Vacation...
Joined
Apr 8, 2011
Messages
97
Should I keep my copper pennies? I seen on Youtube, that some are keeping them because they think the price of Copper is going to sky rocket.
 
Just don't get caught doing it (melting them down) or the Fines will be so heavy that you'll need to find a LOT more Pennies to PAY for it! ;)
 
I will never melt a US coin.

The coin itself will go up in value
1. If it's copper
and 2. If it's old
 
There are alot of easier ways to save/make money......I wax cars in the summer for $50 a pop. Average 3 cars a day and pay the high school kid who helps me $50 a day. No taxes.

Dusty
 
copper as investment or melt

why bother accumulate copper pennies, you can go to home depot or lowe buy copper tubing and melt for lot more money. beside the impurity in the coin takes too much separation process. a 10' x 1/2" copper is $11.75 with tax $12.50 beside you can stack the copper tubing in garage or have them cut in suitable length for you. i heard some one stole copper cable off the construction site which is so dumb and stupid. yes copper price will go skyhigh due to the major flood in australia mine. garrettace350/pro pinpointer
 
Uh, "no taxes":shock:, I think you made an error. Didn't you mean to say: no taxes are too much to pay for my country. That sounds better, much less incriminating.
 
I have never cashed in any of my finds. Copper or other wise. I just tumble the clad and non Wheaties. Then I roll them and store them. I don't know why I just like collecting them. I do roll the copper pennies separate from the zine.
 
I suppose, although I feel that serving in two wars for my country (Vietnam and Desert Storm) should get me some slack.............:roll:

Dusty

wtfisthat said:
Uh, "no taxes":shock:, I think you made an error. Didn't you mean to say: no taxes are too much to pay for my country. That sounds better, much less incriminating.
Click to expand...
 
I figure after they quit making them they will be worth more, even with the people that save them too many people could care less about pennies. The more that care less now the more valuable they will be for us later.:lol: Though i have been wrong before many times.:yes:
 
dummy finder-keeper said:
why bother accumulate copper pennies, you can go to home depot or lowe buy copper tubing and melt for lot more money. beside the impurity in the coin takes too much separation process. a 10' x 1/2" copper is $11.75 with tax $12.50 beside you can stack the copper tubing in garage or have them cut in suitable length for you. i heard some one stole copper cable off the construction site which is so dumb and stupid. yes copper price will go skyhigh due to the major flood in australia mine. garrettace350/pro pinpointer
Click to expand...

:lol::lol:

I don't think so... As soon as you MELT your copper down, you have devalued it by several grades. It's worth the MOST in it's present form (Grade 1) You would have to buy a LOT of that copper pipe and then store the 10' lengths... or cut them down to 5' sections or whatever...

The Math:
1/2" Pipe = .625 OD, which is .527 ID, which = .049 Wall thickness, which then = ..344 / lbs per/lineal foot. Summary: 10' x .344 = 3.44 lbs of copper..

New copper pipe sold to a Dealer @ the HIGHEST Scrap price = Grade 1 or (ISRI code CANDY) @ $2.25 - $3.75, depending on how BADLY the dealer wants your copper and what they are willing to pay, thus your 10' section of copper will net you approximately $9.46 - $12.90 for your (3.44lbs of copper). If LUCKY, you might break even, but chances are you'll be poorer as a result of buying the copper pipe due to expenses such as Fuel. Then you would have to figure in time spent, etc...

You'd would LITERALLY have to buy TONS of the stuff before you made any half-decent profit and you would have to make that purchase WELL in advance, as the copper prices for the tubing keeps going up in price in relation to the 'Spot Price'.

Pennies are actually a BETTER investment and take up a lot LESS room for the amount of weight they have, but once again, you have even MORE issues, such as the legality, plus the 'means' to Melt them down (forge) and the Propane (fuel) to operate the forge! The resulting copper would be GRADE 3 at best and wouldn't command a high enough price (at least not in the next few years, anyway...)

Cheers,
 
melt copper

what i meant is going through melting copper is not worth it. as you mentioned the process: fuel and impurity separation, legality. in time this metal will command high price as finished product, not raw mineral price. thanks for the headsup. i do keep all my pennies and those on ebay i bought when they were cheap. garrettace350/pro pinpointer
 
BluegrassJames said:
im not keeping them to melt anyway. I am keeping them to wait until they increase in value.
Click to expand...

Yeah, I just don't see that happening in 'our' lifetime. I just can't see why pennies in the hundreds of millions and BILLIONS could possibly be worth anything from a Numismatic point of view. The ONLY ones I would say are worth 'anything' more than FV would be the ROLLS of un-circulated coins, besides of course, the Proof Coins and sets, etc..

You're better off melting them... ;)

JMO,

Cheers...
 
I save all my copper pennies and roll the zinc stuff for the bank.

I've never really thought about melting them and unless one of you want to offer me 2.8 cents on the penny, plus shipping, I'll just keep sorting them out and dropping them in a jar for no other reason that I like copper pennies and I'd like to see how many I can put aside from back then to whenever!
 
sonofamahalla said:
Yeah, I just don't see that happening in 'our' lifetime. I just can't see why pennies in the hundreds of millions and BILLIONS could possibly be worth anything from a Numismatic point of view. The ONLY ones I would say are worth 'anything' more than FV would be the ROLLS of un-circulated coins, besides of course, the Proof Coins and sets, etc..

You're better off melting them... ;)

JMO,

Cheers...
Click to expand...

It's illegal.
 
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