What do you do with the the post wheat, pre 82 pennies?

[cam9457]

What do you do with the the post wheat, pre 82' pennies?

I've got about 8 or 10 pounds, are they just good for face value? Is it worth looking for error's. I'm leaning toward a bunch of wishing pennies at the local fountin

 

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[dkw]

Re: What do you do with the the post wheat, pre 82' pennies?

I put all my non-wheat copper Lincolns in a large water bottle. I just can't see spending them at face value when the metal content is @ twice that. Maybe it'll pay off for my kids or (future)grandkids.

 

[cam9457]

Re: What do you do with the the post wheat, pre 82' pennies?

Not a bad idea, it does seem like a waste to just spend them.

 

[dkw]

Re: What do you do with the the post wheat, pre 82' pennies?

I guess I didn't notice in your first post when you asked if they were just good for face value. Here's a good site for determining the metal value of coins. At todays price, it looks like a copper cent is worth a little over 2.5 cents in metal content.

http://www.coinflation.com/coin_calculators.html


I'm not much on errors. Can't help you there.

 

[cam9457]

Re: What do you do with the the post wheat, pre 82' pennies?

Cool site, I was reading in another thread that said melting pennies wasn't legal. If it is legal, is it difficult to melt them? I've never tried anything like that.

 

[dkw]

Re: What do you do with the the post wheat, pre 82' pennies?

No longer legal http://www.usatoday.com/money/2006-12-14-melting-ban-usat_x.htm

With that said, I still can't see letting them go for face value. Who knows what the future might hold?

 

[cam9457]

Re: What do you do with the the post wheat, pre 82' pennies?

I agree, wish my wife saw it that way.

 

[BobinSouthVA]

Re: What do you do with the the post wheat, pre 82' pennies?

You can also sell them on ebay. They go for double their value give or take

 

[cam9457]

Re: What do you do with the the post wheat, pre 82' pennies?

Wonder why that is?

 

[jonnyrebel00]

Re: What do you do with the the post wheat, pre 82' pennies?

ha, who knows but if people are willing to buy them for 2x the value, take full advantage of it.

 

[bradyboy]

Re: What do you do with the the post wheat, pre 82' pennies?

so far, in my big blue water bottle has about 50 lbs of mixed pennies in it and I wouldn't give them up for anything
never know what the future holds.
I think I read some time ago that's its illegal to hoard pennies?
Your thoughts?

 

[I_Dig_NYC]

Re: What do you do with the the post wheat, pre 82' pennies?

Attention T'Neter's !
Start separating those pennies.! Hoard ALL the pre 1982 copper pennies.
Actually the Mint switched from copper to zinc mid-year in 1982. So there are 2 varieties.
It's not worth the time to separate those, just wrap them up with all the other zinc and cash them in at the bank. They are trash as far as value.
The copper is worth two and a half times face value. Who knows what the future brings.
Not only did I go through my water bottle and saved all the copper and got rid of any zinc,
but I also started coin roll hunting for the coppers. Going through the rolls you can buy from your bank or at the local mart, will not only net you those good old coppers but will also find you quite a few Wheaties.
Let me tell you there is a trend happening, the copper is slowly disappearing from circulation.
Don't believe me?
Next time your at the deli ask for 10 pennies with your change, I'll bet you less than half are copper.
Informed people have already started hoarding and even melting them for a profit.
With the jump in copper and other precious metals, the pre 1982 penny will go the way of the pre-1964 silver. You will have to buy them at a coin shop or EBay.
In a few years the only thing our Metal Detectors will find are pull-tabs and zinc pennies, trust me.

 

[TheHarleyMan2]

Re: What do you do with the the post wheat, pre 82' pennies?

My Fiancee' and I have about 40lbs of pennies in a moonshine type jar (with the thumb ring on it) and we are now going through and seperating them by year and when we are done we are going to check each one for defects and miss-prints, then we are going to roll them up according to the year. We have ALOT, I mean ALOT of 1982 back to 1939 so far. We haven't even gone through half the jar yet!!!!!! Still painstakingly working at it!

 

[I_Dig_NYC]

Re: What do you do with the the post wheat, pre 82' pennies?

My Fiancee' and I have about 40lbs of pennies in a moonshine type jar (with the thumb ring on it) and we are now going through and seperating them by year and when we are done we are going to check each one for defects and miss-prints, then we are going to roll them up according to the year. We have ALOT, I mean ALOT of 1982 back to 1939 so far. We haven't even gone through half the jar yet!!!!!! Still painstakingly working at it!

I did the same thing. I went out and bought about half a dozen coin board type albums and was able to assemble about 4 complete sets of every year and mint mark of mint state Memorial backs up to 2007. Figured I would put those away as keepsakes in case they're worth something in a hundred years. LOL
I also filled in a lot of empty holes for my wheat penny albums. I kept the copper and rolled up all the zinc for the bank. Boy it was painstaking work but I also found a zinc penny error worth about $100, so it was worth it.
Gotta tell you though, about 2/3 of it was all zinc.. Goes to show that the copper is disapearing.

Remember only half of the 1982's are copper. If you feel like going through the work of seperating them(I don't think it's worth it), but here's what you do. Either weigh them, the zinc is 2.5 grams and the copper is 3.1 grams approximately. Or you can hold each coin by the edges a few inches over a hard wood surface and drop it on it's face. The copper will go ping, the zinc will go thud.

 

[TheHarleyMan2]

Re: What do you do with the the post wheat, pre 82' pennies?

Yeah, we are doing the ping test on our 1982's. Yes, it is PAINSTAKING! To top it off after hours of going through them our hands smell like copper!

 

[I_Dig_NYC]

Re: What do you do with the the post wheat, pre 82' pennies?

Yeah, we are doing the ping test on our 1982's. Yes, it is PAINSTAKING! To top it off after hours of going through them our hands smell like copper!

mmmmmmmm, copper, that's the smell of money my friend.

 

[cam9457]

Re: What do you do with the the post wheat, pre 82' pennies?

My wife just see's worthless pennies?

 

[I_Dig_NYC]

Re: What do you do with the the post wheat, pre 82' pennies?

My wife just see's worthless pennies?

Hide them from her. Whatever you do, don't let her cash them in before you go through them. There are probably lots of collectible wheaties in there as well as foreign pennies, and probably a valuable error penny. Hoard that copper away. Then take all the zinc to the bank and take wifey out to dinner with the money.

 

[davest]

Re: What do you do with the the post wheat, pre 82' pennies?

well, I just took about 4 dollars worth of pre 82s out of circulation, just by going thru the grandkids saving fund. I did find 5 wheats along with that.

 

[Pipster]

Re: What do you do with the the post wheat, pre 82' pennies?

I guess I didn't notice in your first post when you asked if they were just good for face value. Here's a good site for determining the metal value of coins. At todays price, it looks like a copper cent is worth a little over 2.5 cents in metal content.

http://www.coinflation.com/coin_calculators.html


I'm not much on errors. Can't help you there.

thank you for that link easy way to calculate