Copper Pennies

JCMO · Feb 26, 2010

Ok so pennies before 1982 are made up mostly of copper. Copper is at a price that makes the penny worth twice as much.

So is anyone keeping them and is anyone melting them down?

I know at the coin dealer I was at they had a sack of old worn silver coins going off the be melted.

beerdoodle · Feb 27, 2010

I have 40,000 coppers at the moment. But they are illegal to melt at this time.

stealer · Feb 27, 2010

http://realcent.forumco.com/forum~FORUM_ID~1.asp

This forum should help!

Beerdoodle, selling pennies for their copper value is not the same thing as melting it. It's completely legal to sell them.

beerdoodle · Feb 27, 2010

stealer said:
http://realcent.forumco.com/forum~FORUM_ID~1.asp

This forum should help!

Beerdoodle, selling pennies for their copper value is not the same thing as melting it. It's completely legal to sell them.

I know this. I simply said they are illegal to melt att. I am a member of Realcent. Thanks, tho.

AlinMN · Feb 27, 2010

Yes it is illegal to melt copper pennies at the current time. However the government has banned melting pennies before and then lifted the ban. They have been minting zinc coated pennies since 1982 and I think when we get to a point where there are very few pre 1982 pennies in circulation they will have to lift the ban to increase the availability of copper. The same thing happened to silver coins in the 60's, the government switched from silver to copper nickel clad but banned the melting of silver coins until there where almost none left in circulation. Then they lifted the ban to help increase the supply of silver to lower its price. I think they will do the same for the penny. I however have not started sorting out copper pennies. Maybe I should but where do you keep several tons of copper pennies? :confused:

RickO · Feb 27, 2010

I keep a couple gallons of them in my collection. Must get to searching those for key dates or mintmarks. RickO

bobabbey · Feb 27, 2010

How could anyone tell what is melted, after the fact? They could always be batched with other scrap copper.
I keep mine separate, just for fun.

Unksshag · Mar 2, 2010

Pennies

You should sell them on ebay...or I'll buy them...you should get double scrap, if they're junk coins. :yes:

cherokeekid · Mar 2, 2010

yeah i pick our out coppers from regular pennies too

BORGATABILL · Mar 3, 2010

I didnt realize this. Now i guess i will start hoarding them too. Unbelievable another pile of junk will be started.lol

Dinger51 · Mar 4, 2010

Scrap copper prices around here are going for 2.50/lb for copper #1 and 2.40/lb for copper#2. What is the difference between the two???

Sturgell · Mar 4, 2010

Dinger51 said:
Scrap copper prices around here are going for 2.50/lb for copper #1 and 2.40/lb for copper#2. What is the difference between the two???

#1 copper is bright and shiny #2 is tarnished or corroded

Copper Pennies

JCMO

Full Member

beerdoodle

stealer

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beerdoodle

AlinMN

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RickO

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bobabbey

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Unksshag

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cherokeekid

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BORGATABILL

Elite Member

Dinger51

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Sturgell

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