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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 05/19/2008 : 13:00:21
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To the northern border states people here, how have your Canadian penny yields been going in your Lincoln rolls? It is not illegal to melt Canadian coins down in the USA is it?
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M83striker
Penny Pincher Member
USA
108 Posts |
Posted - 05/19/2008 : 13:49:09
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| I'm not sure of the legality of melting Canadian pennies, but I'm making sure that they are being separated from my Lincoln CU. I may just throw an entire rolled box of Canadians on Ebay and see what comes out of it. Sometimes my yield of Lincoln CU out of a Brinks box is smaller than the yield of Canadian CU from the same box. |
When my wife got after me it sounded like "Blah,Blah,Blah", but now it sounds like "Clink,Clink,Clink". Its amazing what that Ryedale can do for a hounded husband. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/19/2008 : 14:08:10
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| I don't get nearly as many Canadians as Lincoln coppers, but I seperate them. Yes, it is legal to melt them down here, but why would you want to? |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 05/19/2008 : 14:35:25
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It's legal to melt them, paint them, drill holes in them, fold/spindle/mutilate them. Since they are not US coins, they are just little copper discs to the US government.
I get about 10 (copper) Canadians per box. Occasionally it doubles, which I like.
The nice part is that there is no uncertainty about selling them as scrap metal should I want to. |
Trust the government? Ask an Indian. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/19/2008 : 14:47:54
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| just don't throw in any US ones.Just save them with the rest of them.If the scrap yard is paying $2.25 for #2 copper you will just break even versus selling them here.Just hold on tho them and wait for copper to Break $5 then you can get a solid .02 all day long |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Centsearcher
Penny Pincher Member
USA
107 Posts |
Posted - 05/19/2008 : 15:03:13
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| I live in southeast Michigan, about 30 miles from the Canadian boarder. I have recently been averaging one-two Canadians per roll, even though it has been higher. About 80% of all the Canadians I come across are pre-1996 Copper. I save them seperate from my Americans and by date (pre-1980 and 1980-1996). |
--Misplaced Numismatist--
Democracy: The only system where any two idiots can out-vote a genius
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 05/19/2008 : 16:15:24
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| Right, you Michiganers may be getting 1 or 2 Canadians per roll or about 4 per $1 of pennies. My math says that is 4% of your pennies and if you can get 2 cents per each Canadian in bulk, you are looking at 8% legal melt gross return on you rolls. Granted, you'd have to turn over your principal about 10 times to double it with this kind of gross, but if you are playing with $1,000 per a week, you may have something there. The Canadians i am getting i just set aside. Not that many to really do much with, but if I get a 5 gallon bucket full someday, off it goes to Ebay as legal melt. |
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Hey Michigan
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