Big Boys Hobbies

10 Years Of Copper Pennies, Save?

Martin_V3i

Martin_V3i

Elite Member
Joined
Oct 27, 2010
Messages
5,138
Location
North DFW, TX
I have detected and collected coins since 2010, and still have all of them. I do collect zincs but almost never dig the shallow ones, reading zinc ID.

My question is, "Would any of y'all save pounds and pounds of copper pennies, for the day when copper pennies are discontinued, to sell for melt value?" As I understand it, a copper penny at melt, is worth half a cent more than a penny. Last check I made on all of my coin's weight was right at 65lbs, and that was weighed at the end of 2017. Probably have 80 pounds, and more pennies than other coins, of course.
 
imo its not worth fooling with. Copper is way too inexpensive to be worth the time.

That said, I throw all my coppers into plastic peanut butter jars and toss them under the house. I'll let my heirs deal with them.




.
 
Martin_V3i said:
I have detected and collected coins since 2010, and still have all of them. I do collect zincs but almost never dig the shallow ones, reading zinc ID.

My question is, "Would any of y'all save pounds and pounds of copper pennies, for the day when copper pennies are discontinued, to sell for melt value?" As I understand it, a copper penny at melt, is worth half a cent more than a penny. Last check I made on all of my coin's weight was right at 65lbs, and that was weighed at the end of 2017. Probably have 80 pounds, and more pennies than other coins, of course.
Click to expand...

No. And here's why.

When/if the day comes you can sell them, you'll find the price of copper isn't that much higher/lower. In the meantime, you'll actually earn MORE money by taking that 65 lbs in copper, and investing it. Go trade the $$ for silver, if you want to stack. Sell it when it gets higher, and buy it again when it gets lower. :)

Cheers,

Skippy
 
I sort out the wheat pennies. The rest I run thru the coin counter at the credit union and convert them to paper money. In five years I have run over 15000 pennies thru the machine. while the copper in a penny might be worth .018 you will not get anywhere near that if you sell them for scrap.
 
Martin_V3i said:
I have detected and collected coins since 2010, and still have all of them. I do collect zincs but almost never dig the shallow ones, reading zinc ID.

My question is, "Would any of y'all save pounds and pounds of copper pennies, for the day when copper pennies are discontinued, to sell for melt value?" As I understand it, a copper penny at melt, is worth half a cent more than a penny. Last check I made on all of my coin's weight was right at 65lbs, and that was weighed at the end of 2017. Probably have 80 pounds, and more pennies than other coins, of course.
Click to expand...

take bury them in your yard and let some future detectorist get a thrill over a big coin cache. Maybe put a few silver dimes and one morgan in the middle of the jar/box. Or better yet have some one make a pirates treasure chest and put in the coins.
 
I got the bug to save copper (memorial) pennies, too. Thought I'd save 100 pounds and turn them in to see what they are worth. I doubt that they are worth any premium as copper, but some boy Scout might want to go thru them to start a coin collection. I had 66.6 pounds at the end of last year and hope to finish the pile by early March.That would be four years of detecting. If you cash 'em in, let us know what they were worth per pound. That would be interesting.
 
Just keep saving them. When the IRS tells you that you owe them money after filing your taxes, drop them off, have them count them, and give you a receipt.
 
T-Man said:
Just keep saving them. When the IRS tells you that you owe them money after filing your taxes, drop them off, have them count them, and give you a receipt.
Click to expand...

I like that! Really haven't paid attention to how many how many pennies I've dug... all those holes! :shock:
 
Call me old fashioned, but 'sense of humor' isnt the first thing that comes to mind when I think of the IRS.
I advise against intentionally antagonizing them. For obvious reasons.

Besides, most gov agencies have laws or rules saying that they only have to take so many coins for a payment.




.
 
KinTN said:
Call me old fashioned, but 'sense of humor' isnt the first thing that comes to mind when I think of the IRS.
I advise against intentionally antagonizing them. For obvious reasons.

Besides, most gov agencies have laws or rules saying that they only have to take so many coins for a payment.




.
Click to expand...
Yes. They are not obligated to take your pennies. Nor is any other business.
 
Copper pennies already have been discontinued. They are worth close to double face value. I would save them.
 
maxxkatt said:
take bury them in your yard and let some future detectorist get a thrill over a big coin cache. Maybe put a few silver dimes and one morgan in the middle of the jar/box. Or better yet have some one make a pirates treasure chest and put in the coins.
Click to expand...



That's something that I plan on doing someday...

Then hopefully hear about someone here finding a "chest" full of coins.
 
Usa said:
Copper pennies already have been discontinued. They are worth close to double face value. I would save them.
Click to expand...
They’ve been worth double face value for 10 years. If you held, you lost money due to inflation.
 
pryan67 said:
That's something that I plan on doing someday...

Then hopefully hear about someone here finding a "chest" full of coins.
Click to expand...

About 10 years ago I buried a metal bandaid box of coins to see how my Fisher ID edge would register it. Cannot remember if I put any silver coins in it. Buried it about 10" down.

Now I cannot find the damn thing even with my Nox 800. Go figure.
and I have a very, small back yard and buried it in an area of about 12x12 feet.
 
Cents

wasatchau said:
I got the bug to save copper (memorial) pennies, too. Thought I'd save 100 pounds and turn them in to see what they are worth. I doubt that they are worth any premium as copper, but some boy Scout might want to go thru them to start a coin collection. I had 66.6 pounds at the end of last year and hope to finish the pile by early March.That would be four years of detecting. If you cash 'em in, let us know what they were worth per pound. That would be interesting.
Click to expand...
Random coin facts:

-There are approximately 145 to 147 copper pennies in a pound, approximately 181 copper-plated zinc pennies in a pound, and approximately 168 steel pennies in a pound. These are approximates by newer not worn coins.
-There are 147 copper pennies per pound. You can use a 1.47 ratio to multiply out weight to face value. Meaning, if you have 1 pound of pennies, you have $1.47 face value of pennies.
-The small cent copper coins weighs about 3.11 grams. The copper-plated zinc cents weighs about 2.5 grams.
-Depending on the shape of the vessel and how the coins fall, about 25,000 pennies would fit in a 5-gallon bucket.
-$50 dollars in pre-1982 pennies weigh approximately 34 pounds and post-1982 pennies weigh approximately 27 pounds.
 
Skippy SH13 said:
No. And here's why.

When/if the day comes you can sell them, you'll find the price of copper isn't that much higher/lower. In the meantime, you'll actually earn MORE money by taking that 65 lbs in copper, and investing it. Go trade the $$ for silver, if you want to stack. Sell it when it gets higher, and buy it again when it gets lower. :)

Cheers,

Skippy
Click to expand...

Ding! Ding!
Always invest in the next level. Copper is not worth much up or down. Use the money you have, invest in silver or gold with it. No regrets.
 
Copper Pennies!

I have myself a small cheap little lathe/mill combo set up...out of China, 110volt, paid $10 for it at a garage sale. Like something a pen maker old retired guy would use shortly before his death and the impending estate sale which is ultimately imminent for all of us...So I got the dmaned thing...took her home and got busy.......

So what I do is, I chuck up those copper pennies into the lathe feature, I carefully machine off the appropriate radius until they are the dimension of a dime...., then, I mill off the surface until they are the corresponding dimes thickness! ..The final product is the exact same size of a dime! then I dump them through the Coinstar for a 9c profit! The Coinstar is like a Tesoro! It cant tell a copper penny from a dime! :laughing:

I suppose a guy could use a punchpress and a surface grinder to speed up the process, really go into business! But I aint got that kind of money! :laughing::laughing: I do have some nice Bubinga wooden pen blanks that came along with it if anybody is interested in making pens?

I got the 'penny to dime' conversion format down so I can pull $50 just watching TV of an evening!...Self employed and running my little mill making dimes out of pennies!! Minus the Coinstar 12% fees of course..which we can all agree is an abomination! :laughing:
 
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