Has anyone actually cashed in copper (pre 82) pennies for the copper content? I saw on one of the posts, that the copper would be considered #2 Scrap Copper. Has anyone received confirmation of this. Based on the descriptions on this web page, which has scrap copper pricing I thought the pennies would be considered Light Scrap Copper. You must be logged in to see this link. Theres a big difference in price between the 2 types of scrap copper.
I have not tried to turn any in for scrap. However I have traded 175 rolls at 2X face for some 90% silver coins. I am holding mine for WTSHTF just like my silver and gold.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost
Not to sound greedy, but I'm waiting until base metals go much higher before I even think about cashing in. No matter what, I'll keep a few boxes of coppers around for when...
“Ultimately, the Fed can flood the system by buying any kind of asset, or even dropping bank notes from helicopters" -Fed Chairman Ben Bernanke
I have more than once sold scrap lincoln cents to a metal recylcling yard. It depends on market value of copper, but my last sale I got $2.40 per troy pound of pre82 lincoln and pre96 canadian cents. For Lincoln cents going strictly by weight it averaged out at about 125 cents to the pound for pure 100% copper----pre1982 lincolns weigh app. 3.11 grams---95% copper x 3.11 = 2.95 grams of pure copper = about 10.5 lincolns per troy oz. x 12 oz. = 126 cents. The price of $2.40 per pound was for 50 pounds. If you have lesser amounts you get less money.
Has anyone cashed in copper pennies
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Posted - 06/10/2006 : 12:13:53
I am holding mine for WTSHTF just like my silver and gold.
