A new investment opportunity, almost a sure bet!

[Magus]

Pennies are being done away with because they cost 2.7 cents to make, more if they were actual copper. in a few years, those copper cents will be worth a mint to collectors and right now, investing in a few rolls of pennies is "lunch money" just sort out the aluminum alloy ones, cash them in and repeat!

 

[zoomzoom]

As best I can tell, most of the "copper" pennies (I think they ended in 1982) have already been picked out of circulation, kind of like finding pre-1964 silver coins.
For me, the time and effort to find let's say 1 copper penny out of 100 isn't worth it.

 

[Amish Heart]

I've got a baggie of wheat pennies. I'm sure they're still worth not all that much.

 

[Mountain trapper]

I've been buying .999 copper bars at around $4.00 a pound. There's a lot of penny's in a 10 pound bar of copper.

 

[zoomzoom]

Also, due to volume, most collectors aren't interested unless it's some sort of special penny.
Selling coins for melting is against the law.

 

[Mountain trapper]

Also, due to volume, most collectors aren't interested unless it's some sort of special penny.
Selling coins for melting is against the law.

Really? People melt US silver coins every day.

 

[DrHenley]

For personal use it's OK. You can't sell melted pennies and nickels as bullion for profit. You also can't take more than $5 worth of nickels and pennies with you overseas, except for some exceptions, for which the limit is $25.
This is purely to save the U.S. Mint from having to remint coins taken out of circulation in bulk. Personal use isn't going to impact that. Once the Mint no longer has to mint pennies, that could change.

 

[Magus]

I've got a baggie of wheat pennies. I'm sure they're still worth not all that much.

You never know...
https://www.pricecharting.com/brand...hxMG2TiNQ80G5D7Rnzc1R_lpvIgx53SxoCTZUQAvD_BwE

 

[Supervisor42]

This reminds me of the fad to collect state quarters.
DW jumped into it with both feet, and we still have books of them taking up room in the safe today.
Another great example of the government taking money out of circulation to reduce inflation.
Start hoarding yours today!

 

[Snowman]

Enjoy :

 

[Magus]

He should have known.