this company is selling 30 tons of pennies on eBay.
10 Tons Copper Pennies Scrap Bar Bullion Alternative Copper Is The New Silver | eBay
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this company is selling 30 tons of pennies on eBay.
10 Tons Copper Pennies Scrap Bar Bullion Alternative Copper Is The New Silver | eBay
I couldnt tell from the ad if these were SORTED pre 1981 ones...those are the only ones with any amt of copper in them....that should be the 1st thing they say...lol.
You are bidding on 10 (ten) tons of 1982 copper pennies and Pre 1982 copper pennies processedQuote:
Originally Posted by webuyselltradestuff
And I'm impressed by the $500 in copper pennies that I've accumulated, lol
From the ad >>
You are bidding on 10 (ten) tons of 1982 copper pennies and Pre 1982 copper pennies processed
Opps that is what I get for trying to read the listing on my phone...get I get my stupid card punched today..
Assuming the melt ban was lifted and you could legally scrap these in todays market, what grade would these be, considering they are 5% Zinc? #2 copper?
Here is how many cents to a pound and the make up of the different types.... How many pennies per pound, Penny types And I think they would go as #2 copper
I'm buying them... then I'ma go swimming in them. ;)
Wonder how many wheaties are still in there?
http://www.geek.com/wp-content/uploa...g-in-money.jpgQuote:
Originally Posted by auminer
my calculations say even after allowing for $5K in shipping....IF you could get .02 each for the pennies (coinflation has them at .021 EACH) by selling in smaller batches on Eaby, there is somewhere in the neighborhood of a $20K upside. Have not done the research on Ebay to see what pre 1982 copper lots are running, so all depends on that....I don't have the cash to tie up, so was just an observation.
Well I'm scratching my head on this one. They say "Buy for the metal not the dates"
As it is ILLEGAL to melt, smelt or deface this currency in any way.. it can't be "scrapped"
So you'd have to buy this lot on the hope of finding something rare in it- in order to "make money"
And who in the he- double hockey sticks.. would have time to hand-sort 10 tons of pennies- hoping for something rare?
Even if you did-- and a few DECADES from now you were done sorting them.. No one in their right mind would give you .02 cents for something that's face value is .01
I guess the auction sellers are hoping some dolt won't realize that in 2014 and buy them.. because in 2043.. that penny.. will still only be worth... a penny!
There are other sellers out there for copper cents... Portland Mint - Product ListQuote:
Originally Posted by sledge
Why invest in Copper Pennies:
All pennies minted in the United States prior to and during the first part of 1982 were composed of 95% copper and 5% zinc. After 1982 the composition of pennies was changed to 97.5% zinc and 2.5% copper. According to www.coinflation.com the current melt value of copper pennies is more than the face value of the penny itself.
Copper pennies are the most inexpensive form of copper bullion available. Pennies are viewed as a good investment choice by many metal investors. Pennies are a low risk investment because they always have a floor price, since the penny will be worth at the very least, one penny. With ease of recognition and guaranteed purity, pennies are a great form of a copper bullion investment.
Copper has been seen as a base metal for many years. Only recently has it started being seen as bullion. Copper is on its way to being seen and traded just as bullion gold and silver are.
yeah you could make about 10k or more if you could scrap them
Its all good information.. but if you can't LEGALLY melt them down.. then I must be missing the point.Quote:
Originally Posted by hobo finds
Because it is legal US tender.. I assume if you get caught melting them.. the fine would far outweigh any profit you would make.
You can't legally melt them down in the USA, but you can send it to Mexico or China to do it. Bullion is bullion to any other country.
Then how are those ten thousand machines (that flatten a penny and stamp the lords prayer on it) allowed to deface the pennies.
If you haven't seen one in awhile, you insert a penny and a quarter, which now may be 50 cents.
Press-A-Penny - Press a Penny Home Page
http://elongated-coin.com/6068.jpg
...that's a pretty good point.
Elongated coin - Wikipedia, the free encyclopedia
Defacing coins for the base metal is illegal, coin pressing for souvenir purposes is not.
Here is an interesting article about the legality of melting US coins.
Is it Illegal to Melt U.S. Coins? - Coinflation
I've been educated again.. I always thought it was illegal to smelt currency.
But here it a kicker at the end of the article (written in 2006 btw) it states this:
"PLEASE READ: Dec. 14 update regarding the law change on melting nickels and cents for profit can be found here. Melting cents and nickels is fine as long as you're not profiting from it."
So I guess you can melt down your pennies.. but you can't make any profit. WHOOO.. sounds like a lot of work for nada then?
Legal to press pennies or other coins?Quote:
Originally Posted by Mechanic688