Today, Oct. 16th, the zincoln now costs more than 1 cent in raw materials (zinc and copper) (not including fabrication costs). Zinc went to $1.80 per pound today.
I didn’t think the price of zinc would rise so fast so soon. I thought it might take a month or two, glad I didn‘t take any zincs to the bank to cash in. If they decide to make the penny out of copper plated steel, then zinc cents will fall under the category “obsolete” coinage. Maybe we can sell them along with our nickels to collectors, speculators and the last minute crowd who suddenly realize the profit potential coin hoarding can offer.
Penny raw material more than one cent!
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Posted - 10/16/2006 : 16:21:39
