1982 and before pennies...

[walnuthead]

I read on the beginners topic for collecting about saving all pennies dated 1982 and before due to the copper value. How would I go about cashing in on the copper value of these coins? Would I need to go to a dealer or would I need someone to smelt the coins so that the copper is removed? Any information is greatly appreciated.

 

[FingerGrime]

I would use Ebay.

 

[walnuthead]

Not really interested in Ebay. Just wondering if actually saving all pre1982 pennies is actually worth all of the trouble and how would I benefit from the 2 cents or more per penny, due to the copper value, that I am saving. Where would the value of the copper come into play? I understand that the value is high right now, but where could I take it to receive what the metal is worth once I have enough to cash in? I am still a newb and am trying to learn.

 

[silvereagle78]

I would use Ebay.

Unfortunately FingerGrime is right, Ebay is one of the few options to rid yourself of copper . Current laws prohibit the melting (or smelting) of copper cents. If I were you and had the money I would hang on to it for awhile, if not try an online place of business to get rid of them. In my opinion though, you will be lucky to get over 1.5 cents for each anywhere unless you are a powerseller on Ebay or dumping in in large amounts, say $50 or more. Again this is just my opinion and many others probably don't agree.

 

[Coins4Cheese]

If you're lucky, you can find private dealers that'll buy copper pennies from you. Didn't Shak-N-Bake sell copper pennies to a private dealer?

 

[dp2013]

I think very few are currently making a go of it selling copper cents. Most are hoarding the copper as a by-product of sorting for wheats, the rare Indian and errors.

 

[mistergee]

at one point when copper was over $3 a pound, people on ebay were getting over $100 per 50lb bag. right now there are several bags on ebay that range from $80 to $150
BTW unless you know for sure just save pre 1981. i believe not all 1982's are copper.

 

[AGCoinHunter]

Try the realcent forum. There are people on there that will buy copper from you. And yes, not all 82's are copper. About 3/4 of them are.

Also, might try craigslist to sell.

 

[TxTim]

Recently sold 3,500 lbs. of Cu pennies for the equivalent of 1.73 cents each, locally.
Copper buyers are around. You have to put some effort into finding them.

 

[TxTim]

at one point when copper was over $3 a pound, people on ebay were getting over $100 per 50lb bag. right now there are several bags on ebay that range from $80 to $150
BTW unless you know for sure just save pre 1981. i believe not all 1982's are copper.

Copper is at $3.44 a lb. right now.

 

[AGCoinHunter]

at one point when copper was over $3 a pound, people on ebay were getting over $100 per 50lb bag. right now there are several bags on ebay that range from $80 to $150
BTW unless you know for sure just save pre 1981. i believe not all 1982's are copper.

Copper is at $3.44 a lb. right now.

If I remember correctly it take approximately 145 cents to make a pound? At that rate you are making about $2 pound on copper.

 

[TxTim]

at one point when copper was over $3 a pound, people on ebay were getting over $100 per 50lb bag. right now there are several bags on ebay that range from $80 to $150
BTW unless you know for sure just save pre 1981. i believe not all 1982's are copper.

Copper is at $3.44 a lb. right now.

If I remember correctly it take approximately 145 cents to make a pound? At that rate you are making about $2 pound on copper.

I use 147 - 150 per lb. Sale price was $2.55 per lb.

 

[walnuthead]

Thanks for all of the replies. I have been saving all of my 1982 pennies so I will do some research on which ones are mostly copper and roll the rest. I am doing what dp2013 was saying, just keeping the copper ones that I find while I search for wheats, errors and others. Thanks again for the responses. So glad that I found this site. It is the best.

 

[Tattooguy67]

Hi all, so i take it that going to the local scrap metal dealer is out then as far as the copper pennies go?

Chuck.

 

[silvercop]

try this site-----www.webuypennies.com

 

[silvercop]

scratch that. i just checked the site. they are not buying at this time. they do have some links posted though

 

[walnuthead]

Thanks silvercop....will do. It will be a long time before I have enough to actually sell but at least now I have the info that I need and know that it is worth while to keep them instead of throwing them instead of throwing them back into circulation.