I'm new to the whole thing of hoarding pennies collected from change or rolls bought for face value at the bank. I've got a fair number of wheaties that came out of mixed lots from E-bay. I am mostly after the silver. Hoarding pennies from rolls gotten at the bank or from big retailers sounds like a good suggestion.
I've discussed this idea of hoarding pennies, and came up with a real problem in either selling them for copper or eventually exchanging them for whatever real money is in use sometime, goods, or services. That is, HOW can someone else readily tell a copper penny from a "counterfeit" zinc-plated-with-copper penny as have been minted since 1982? There is the idea of cutting into it a bit to see if it's copper or zinc inside, but that's a bit comebersome.
I know the copper recyclers won't take pennies, as they have to re-sort through them, and it's too time consuming for them. The fed can easily get them out with their scales and sorting machines though. For some reason the recyclers my siblings and I have talked to don't have those sort of scales. I gather there are "easy" ways to do it with an accurate scale. I haven't experimented (yet).
I'm interested in the nickles too. Are all nickles, other than silver war nickles, made of nickle, and thus worth about 5.5 cents each? Or, am I missing something?
Any ideas are greatly appreciated.
Beth
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Exchanging pennies for money, goods, services
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Posted - 08/01/2006 : 01:29:45
