Bulk Copper Cents For Sale?

[CincinnatiKid]

Hi all,
I've recently noticed bulk lots of copper cents, (mid 82' n earlier), for sale on ebay and cl? Not "unsearched" rolls, but multiple pounds of copper cents. Why?
Will they be collected next century as large cents are now? Or, will the price of copper skyrocket?
Please advise...
Peace

 

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[Msbeepbeep]

I don't know, maybe the price of copper is more than the pennies monetary value.
Let me know when someone offers to buy corroded zincs.

 

[coinman123]

A copper cent is worth 2 cents in copper, when people buy these pennies they usually buy them as copper bullion, so when they sell 1lb of copper cents, they are selling them as 1lb of copper bullion. It is illegal to melt copper cents though so the pennies themselves are the bullions. Probably if it gets legal to melt copper cents every almost every copper memorial cent in existence will be melted and copper cents will be some elusive extremely rare coin worth $10,000 each, and the bullion from the melted cents will be worth 10 cents a pound from all the copper from copper pennies flooding the market, LOL.

 

[tokameel]

I would be very cautious about buying ANY COIN batch on an EBay type service.
Many years ago I got a $50 face bag of "unsearched" wheat cents for about $225 and there was only 1 cent older than 1940, it was a sad 1936 P. 2 bad 1943 steel cents, no MS, or AU and NO "s" coins.

At a Wi. coin show 2 weeks (or so) ago, I sold two $50 face value bags of copper cents 1959-1982 to a dealer for $62.50 each bag.
He was the only one at that show willing to go that high. (He asked me not to tell anyone who he is.)

(hint- I separated the 1982 copper from the mostly zinc cents by using the "Ding" or "Thud" drop test. Try it by using a hard surface to drop 2 cent on. One pre-82 then one older than 1982. Note the sound.)


By the way, I thank you HERO and VET MEMBERs for representing America!

 

[CincinnatiKid]

Thanks folks! Your replys make cents.
Bout twice a year I sell scraps of sheet copper. Usually get $2.30-2.90 per lb. Never thought of cents in terms of bullion. Hmmm
Peace

 

[tokameel]

Hi C-Kid, Better not treat cents like bullion!

It is against Federal Law to melt our coins or send big amounts of any of our coinage out of the USA to be melted.

Some folks hoard these coins hoping the laws will change, but then, I am not sure if hoarding coins is legal.

 

[CincinnatiKid]

Thanks tokameel.
No plans to do so. I spend way to much time searching them as it is.
Peace

 

[Dave Rishar]

They're popular with preppers.

I've seen them go for as much as $0.03 per coin on Ebay, shipped, and I have no idea why. You can go down to your local bank and get them for $0.01 each. One of the joys of coinroll hunting pennies is that you're almost guaranteed to score with every box, and you'll often find a wheat or two. If you're very lucky (and have far more patience than I have, and possibly better eyesight), you might even wind up with a WAM.

In my area, boxes usually contain about 20% copper, with one wheat per box on average. I'm surprised that those things still circulate, but they do.

 

[tokameel]

Thanks tokameel.
No plans to do so. I spend way to much time searching them as it is.
Peace

You can never spend too much time searching coins!

 

[CincinnatiKid]

When the grass ain't mowed or the snow ⛄ ain't shoveled and I still have a loupe in hand? Well...
Peace ✌