So is it legal to melt down pennies that have been run through a smashing machine and no longer any good as far as us currency?
Experienced Scrapper
So is it legal to melt down pennies that have been run through a smashing machine and no longer any good as far as us currency?
Metal Recycling Entrepreneur
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300 pounds of copper is 300 pounds you have itOriginally Posted by jghilino
Are all nickels - nickel - I know there is a silver year but are there any years that nickel is not used in favor of some other low cost alloy
I also found if I drop a CU coin on it's side from 5 inches to a hard surface is sings a song but the zinc just goes flat in sound i tested my ear with this with a visual after and the song bird CU coin sang it's way into truth - A time past of a last ditch copper economy as pure silver was gone in coins .
Last edited by Copper Head; 11-05-2012 at 07:44 PM.
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This SMF topic should help:
http://www.scrapmetalforum.com/misc-...et-change.html
Experienced Scrapper
no really hoarding the penny, in the eighties somehow I ended up with about 250 lbs of them, been sitting in my shed , so I guess if they might be OK as is,..
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Here's a interesting read from the past.
I'm still collecting up pennies. Have a few pounds or so sitting around.
Have been buying some wheat cents when I find them for .05 to .10 cents each. Have a guy that I've bought coins from in the past and did well. He says that he has a uncle that is wanting to sell his hoard that he has saved up for many years. If it's a unsearched hoard I may do very well as he said that he would sell for .07 each or $10.50 a pound.
I'm waiting for the guy to get back from his trip to the Dakotas. Said he would be back about Thursday. Not sure how many pounds, but sounds like it's more then a person can easily move.
Metal Recycling Entrepreneur
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Up here, pennies are been removed from circulation since about a decade, but I wonder how much is sitting a bit everywhere: pennies that have not been returned to the banks, U.S. pennies coming in the change from trips in the States and so on. When Canadian pennies were in circulation, U.S. pennies were very frequent in our change. Maybe 4-5% of our pennies, but much harder to find in nickels and up. Once I found a penny from Panama in my change and a Barbados quarter another time.
NEW TO SCRAPPING? READ THIS: Build up your horde of magnetic and non-magnetic metals in two piles until you have a better understanding of the business. Magnetic material has low value and is mostly always steel / shred / short iron. Read old threads about non-magnetic metals and ewaste (and how to sort them), but don't forget that they generally have absolutely no tolerance for contamination (screw / iron / foreign material).
Saving your copper pennies is a great investment. Forget melting them down. They are already great copper bullion rounds. No need to melt them. Saving your copper pennies gives you about 3 cents worth of copper bullion per penny to HODL deep into the future. I know they are not technically bullion but just trying to get my point across. As pennies they are worth more than melted down. Because as pennies they are great to hold/store/trade investment copper. If deep in the future copper is $50 a pound. People will the single pennies for small value barter trades. Like 10 copper pennies for a dozen eggs. The pennies as is are easier to trade than actual bullion bars because if you want to spend 10 grams of copper you have to cut a piece off of your bullion bar or round. Look at copper pennies like half gram gold bars. They make those tiny bars so that they can be used to trade for stuff that costs less than a whole one ounce gold bar or round. Plus also the penny left alone as is will always hold and increase in value as a vintage coin. With old currency you get two investments. You get an investment in the metal and an investment in the vintage currency market.
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Canadian pennies as well as most other Canadian coins are selling very well. The pennies are selling for up to $20.00 a pound on eBay. That's regular everyday pennies with maybe some from the 1960's mixed in.
I have a nice collection of Canadian coins as I've always liked them.
The problem with hoarding pennies and nickels is that they weigh a lot and are a problem to move from one spot to another.
I have wondered how much my hoard/collection of coins from all over the world weigh in total. Has to be around 2 tons I would guess. I haven't a clue as I have so many containers filled with coins here and there with some buried in the back of closets and such that I've mostly forgot about.
I do like my collecting and hoarding. Working on a deal with a pawn shop that has a pile of drums and related stands and parts with a nice pile of brass cymbals. Nothing really special in the lot beyond a few nice Zildjian cymbals. But I haven't looked over the stuff closely. The guy is figuring out what he want's for the works as most was stored away for some time. Should know more on Tuesday or so. The cymbals are what he wanted to look up the values on mostly. Then we can try and make a deal.
I need more drums and such like I need another hole in my head. I just like the hunt and adventure looking for so called deals or white elephants.
Don't know just what all I have for drums and such as I have collected up 3 complete sets as well as enough parts to maybe put another set together as well as heads and many other drum related parts. Drum racks and such as well as about 35 or so single snare drums with most of them being different.
AND over 100 or so pairs of drum sticks.
Works for me anyway as it's all paid for in full and I can sell or trade my hoards and collections off when I get around to feeling the need or some how require selling off what I have.
Life is what you make it,
Most just try and fake it.
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