pennies

[icegator]

thinking about saving pennies for my children to have when they get older. are they worth saving and which ones should i save? i save mostly silver coins.

ice

 

Amazon Forum Fav 👍

Agony and Death on a Gold Rush Steamer: The Disastrous Sinking of the Side-Wheeler Yankee Blade - Grab it through Amazon!

[coolcash2004]

Wheat pennies are always good. And copper pennies are good to save too (not the modern zinc ones).
-CC

 

[blurr]

If I was going to save pennies, I would just save the oldest dates I found in my change. I still find wheat pennies once in a while, and it's not uncommon to find pennies from the early 60's on. Other than that, you have to start buying the older dates you want, and that seems like a waste to me.

Just a thought.

 

[Immy]

The possibility of the cent's elimination is always looming, so I'd say save 'em. Will that mean their value goes up when and if it happens--hard to tell. It looks like a win-win situation either way.

 

[blurr]

That sounds like a good idea Immy. Its not likely that any pennies you save though (Lincoln wheat's, memorials) are going to have great value down the road. Other than the key and rare dates. I'm not sure that all the people advocating saving copper pennies actually could ever find a dealer that would cash in those pennies without charging them a handling fee that would wipe out the profit they would make from the price of copper. This is all just my opinion, but you would be better off putting those pennies in the bank than trying to sell them at the scrap yard for two reasons that come to mind. First, even pre-82 pennies weren't 100% copper. I believe they were 95% copper with the balance zinc and some other base metal. Not sure about the zinc, but pretty sure about the 95% copper. With the metal not being pure, wouldn't the scrap handler charge something extra for the smelting process? Just thinking out loud here. the other reason is the price of copper, like silver and gold, fluctuates all the time. During times of uncertainty, you sometimes see huge price swings. This is one of those times. Five years from now, copper and zinc might fall flat. Then that five gallon water bottle full of pennies might not seem like it was such a good investment. By the way, I hope they keep the penny. It does give us one more coin to search through.

Those are just my thoughts, take them with a grain of salt though, I'm definitely not RICH!!!

 

[Pennyworth]

I was at McDonalds a few days ago and I was waiting for my order. An older man placed an order and paid with two rolls of pennies in old looking wrappers. So I said to him could I buy those pennies and he said sure. After I gave him the dollar bill he said they are all pre 1982. I said ok,so you collect pennies? He replied I have $40.00 more of these in the car if you want them. He said he collected them for many years and now he doesn't want to keep them any more. I asked him if he collected wheat cents,and he said I've come across some and he did keep them. So then I said so there probably isn't any wheaties in the rolls and he said most likely not, one or two here and there. So I did not purchase the rest of the pennies and I did check the two rolls,and all the pennies were pre 1982 but I decided not to keep them and turned them into my bank. I'm just collecting wheaties and the rest to fill my books.