Copper Hoarding: Good Investment or Waste of Time?

[Quin]

After watching this video, you'll probably be able to tell which side of the fence I'm on pretty quickly. Enjoy!

Also, for those of you who want to see some finds, here's some from the hunt (although the focus of this hunt was more on the copper bullion than the numismatic scores)


Could it be the famed 1943 copper? The world may never know! Plus some beautiful oldies and a wonderfully toned 1969.

 

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[port ewen ace]

I save RED MS coppers to sell, need a few S mints for full '59 to '82 series, RED wheats are also keepers

 

[mxh5891]

If you have the space and the patience then I say go for it. I probably have $50 worth saved but I stopped because I ran out of space.

 

[Death&Taxes]

Save all of your copper pennies! If they stop making and demonetize the cent, like they did in Canada, it will be legal to melt them again and the copper pennies you have will be worth 1.63x.

 

[KandiKlover]

Save all of your copper pennies! If they stop making and demonetize the cent, like they did in Canada, it will be legal to melt them again and the copper pennies you have will be worth 1.63x.

I've seen quite a few people just melt them anyways.

 

[Death&Taxes]

I've seen quite a few people just melt them anyways.

Yeah, you could do that too, but everyone knows where homemade 95% copper, 5% zinc bars come from. I'd recommend doing things the legal way. Eventually you will get your money, and the 63% return sure beats the five basis points I earn in my savings accounts annually, even if the penny sticks around for many years to come.

 

[CW3(ret) US Army]

After watching this video, you'll probably be able to tell which side of the fence I'm on pretty quickly. Enjoy!

Also, for those of you who want to see some finds, here's some from the hunt (although the focus of this hunt was more on the copper bullion than the numismatic scores)

View attachment 1399274View attachment 1399275View attachment 1399276
Could it be the famed 1943 copper? The world may never know! Plus some beautiful oldies and a wonderfully toned 1969.

You forgot to mention that it's currently against the law to melt US cents or nickels. No scrap dealer will buy them because they can't do anything with them. Anyone saving them now don't know how long they will have to hold them. You didn't mention how many cents it takes to make a pound. You can't just assume that you will make a certain profit off of each cent because you need to know how many cents it takes to make a pound. Also in 1982 the changeover in cents from copper to zinc occurred during the year so some 1982 cents are copper while the remainder of the cents are zinc.
HH
Gary

 

[Quin]

You forgot to mention that it's currently against the law to melt US cents or nickels. No scrap dealer will buy them because they can't do anything with them. Anyone saving them now don't know how long they will have to hold them. You didn't mention how many cents it takes to make a pound. You can't just assume that you will make a certain profit off of each cent because you need to know how many cents it takes to make a pound. Also in 1982 the changeover in cents from copper to zinc occurred during the year so some 1982 cents are copper while the remainder of the cents are zinc.
HH
Gary

I'm well aware of everything you sated. I know I didn't talk about every detail explicitly, but I did say that "investing is a long term game". I said that because I believe that some time in the near future, we will be able to melt our pennies and there will be a significant market for them, even if none of that currently exists. If you've got some cash to spare and some space to store, I don't see why not to hoard copper!

 

[mxh5891]

Don't you think that if they lift the melt ban that the price of copper will go way down? Everyone and their mother will be melting pennies and supply will go way up.

 

[DeepseekerADS]

It is danged simple!

I check dates on all my change, and save the pre-1982 cents in a separate jug. What's it cost me versus the real value? One cent.

So why wouldn't you? Seems to make perfect Cents to me

 

[Dozer D]

I consider hoarding copper cents as "the POOR MAN's investment in Precious Metals", a little here & there, providing you have the space to store. The eventual return will outweight what was spent in FV & time.

 

[enamel7]

One other thing. If they do allow them to be melted, you can forget getting melt for them. After all, the scrapyard has to make money too!

 

[forkliftdriver]

I save them all and I sell them online for 1.3 cents each.

 

[Death&Taxes]

I save them all and I sell them online for 1.3 cents each.

Where are you able to sell them?

 

[Peyton Manning]

i figure that I can always weld them together, drill out the center and have water pipe!

 

[mrogers07]

I am going to go ahead and say it's pretty much a waste of time. It's illegal to melt them down, so that's out. You can sell on eBay, but who wants to have them eat at what little profit you'd make? Also, as one person said, it takes up far more space than what you'd do with other metals. Keep at silver and gold.

 

[forkliftdriver]

Where are you able to sell them?

Our local internet company has a online classified ads and I sell them on there. No fees, but there are a lot of no shows that are frustrating.

 

[Quin]

Our local internet company has a online classified ads and I sell them on there. No fees, but there are a lot of no shows that are frustrating.

What's a no show? Like you send them the coins and they don't pay up?

 

[markmopar]

What's a no show? Like you send them the coins and they don't pay up?

People that say they're coming to buy whatever you have for sale and then never show up.