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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 02/23/2008 : 09:01:45
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I noticed that the melt value of a zinc cent is back over 65% again. It has been over 100% in the past. It got me to thinking that the higher the price of zinc goes the less likely the Mint will end the melt ban on pennies. And no change from zinc to another metal in sight.
So to end the melt ban the price of zinc must stay low, or the Mint changes to another alloy metal such as that used in the new dollar coins, or Congress does away with the penny.
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Think positive. |
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n/a
deleted
7 Posts |
Posted - 02/23/2008 : 16:24:47
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the new dollar coins are 88% copper, doubt that will happen.
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 02/23/2008 : 17:30:40
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quote:
Originally posted by NESGod
the new dollar coins are 88% copper, doubt that will happen.
You are correct, though they have a 6.6% melt value that is only because their face value is so high. They would need to come up with something cheaper than that. If they can find something cheaper and practical that is. |
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Think positive. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/23/2008 : 17:36:45
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| Let's say that zinc continues to rise until the melt value of the zinc cent is greater than its face value. I can see two things to our advantage. One would be that we will have another cent to replace hoarding the copper cent when it is out of circulation. The other would be that the Mint via Congress may very well give up on the penny and lift the melt ban. |
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Think positive. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/24/2008 : 00:08:21
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| Hmmmm....I don't plan on melting my pennnies any time soon. I'm saving them for my grandkids(20+ years off) or for when TSHTF. But I do need to strip the plastic off of the copper wire I hoarded over the last 3 years. Local scrap place is supposedly giving $3.05 for #1 and $2.85 for #2 copper!! |
"May your percentages ever increase!" |
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Higher zinc means longer melt ban?
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