Many investors who buy coins from gold and silver bars and coin collectors who study coins have probably never considered collecting copper pennies to gain value. You’ve probably heard “a penny saved is a penny earned” because a low penny costs a cent. While most pennies cost a meager face value, did you know that all copper pennies are worth twice their face value?
Pennies carved from 1909 to 1982 were made from 95% copper and 5% zinc. You may not think that copper costs a lot of money, but it is an extremely important metal. Copper is widely used in industry, especially in electricity, construction, transportation and many other fields. That is why copper reaches a pretty good price, as it is also the best conductor of electricity, does not darken and is malleable. To find the value of a copper melt, we need to know that a pound of copper currently costs about $ 3.12. 154 copper cents are equal to one kilogram. So 3.12 divided by 154 is about 2 cents for every penny.
Since the value of every penny is 2 cents, this can be a small investment. The more copper pennies you have, the bigger the investment. So how do you still get a copper penny for its face value? First, you can find pennies before 1982 by looking at your daily change, or you can buy rolls from banks.
In addition to the fact that each copper cent costs twice as much, its numismatic value is also important. Studying the dates and terms of each coin in the way the collector would do can give your honey even more value. But you don’t have to have the knowledge of an experienced coin collector. Many rolls contain older “wheat” cents that were cut before the modern Lincoln cent (1959 – now). It is easy to see a wheat cent – see the dates cut between 1909 and 1959 and the reverse side on which the words “ONE CENT” are centered between two stalks of wheat.
Depending on the condition, wheat cents are rarer and more valuable. The better the condition, the more they will be worth. When fishing for reels, I usually find wheat cents in a “good” to “very good” condition. They could reach a price of 10-15 cents on eBay. It is not uncommon to find very old grain cents and copper Lincoln / Memorials in a 50-roll bank box. To get a better knowledge of the terms and prices, I would go online and look for “the value of pennies by years” or “how much is my coin worth”. You can also purchase the latest “Official Red Book: A Guide to US Coins” available in bookstores or on Amazon.com.
Boxes of pennies that you buy from the bank contain $ 25 for 50 rolls, which amounts to 2,500 groschen. Unless you want to inspect each roll and examine each one, you can buy a copper penny sorting machine that allows you to separate the boilers from the zinc. If you’re in no hurry to separate them, you can buy a basic “EZ Copper Penny Sorter” from $ 30 to $ 60. To quickly sort a lot of pennies, you will need “Ryedale Apprentice Penny Sorter”, which sells for $ 500.
Another reason to collect copper pennies is that one day, when the Mint puts them out of circulation, it will be legal to melt them in bars. Bars are much more manageable to set aside, instead of holding on to huge jars or bins that can hold hundreds or even thousands of pennies.
The wonderful advantage you get when buying rolls with circulations is that it will not cost you more than what you paid for. So to speak, it will not cost you a cent, because you buy all the rolls with pennies at face value. Not only will you find a lot of copper pennies, but also older yellow pennies, which only adds value.