pre 1982 pennies

[danny1987]

Since you can no longer melt them down (legally) What do you do with them? Can you still sell them for copper value? where?

 

[low xtreme]

you could always try ebay. i'm pretty sure they're selling for over face value on there.

 

[jrf30]

They sell for about $110 - 120 for a bag of $50 copper on ebay. NOt a bad return. :-)

J

 

[cyberdan]

Since you can no longer melt them down (legally) What do you do with them?

For now I am just holding onto mine. Ebay has been used but not a lot of buyers yet. With all the different fees eating into the profit I will wait till copper goes higher and the demand goes up.

 

[jrf30]

I too am just holding them. I'm up over $1,200 now. that's 120,000 copper pennies. At 1 poind for each 145 of them (Approx) it gives me about 825 pounds of copper. :-)

When Jackson Metals starts melting them again and it hits the news bigger then we'll see the copper cents go up in value. The article yesterday said the house passed a bill to change the penny to mostly steel. That too will increase the value. pennies of all sorts will start to go up in value, as the steel ones come out and the "old" penny starts to disappear (over a LONG period of time probably). But the copper ones may get extra exposure at that time, and start trading more for their real value.

Plus if Jackson hires 20 - 30 people to cull copper full time, that is going to affect the market like he has already done to silver halves. many markets are DONE for the most past on silver halves. I"m up to 28 skunk boxes in a row. I get some NIFC, but that is all. And I stopped my orders for the most part, only getting 4 boxes this week (All skunks, of course). I think Jackson wiped out the Phoenix market when he took all the coins available , ran them through his machine, and hten returned them without their silver. Now, the few I get are striaght from the banks, in loose change that just came in, or somewhere else like that.

So horde your copper pennies. I think it will be only one more year before you can do well on them. (The 100 year anniversary of the lincoln cent)

:-)

 

[snake35]

I am hoarding mine. I wonder if we can take them to Canada and sell them?

 

[Immy]

I wonder if we can take them to Canada and sell them?

Nope, the melting ban also prohibits exportation over a certain amount.

 

[snake35]

Are we still allowed to take ten thousand dollarsout of the country legally? I have never been searched going into Canada, but the border guards are Nazis coming back.

 

[Immy]

but the border guards are Nazis coming back.

I'm actually glad to hear that! That's the way it shoud be.

But would they give you a hard time if you came back across with a lot of cash from penny refining, assuming you could find a way to make it profitable and were able to get the pennies there?

 

[snake35]

The border guards dropped the ball before 9/11. Now they try to hassle tourists coming back from the casinos. They do not want to deal with real terrorists. The only thing that they are protecting is their doughnuts!