Wheat and Copper Pennies

[FreedomUIC]

I don't understand the following they have. You can't melt them for copper. Can somebody please shed some light
on CRH for Pennies is about, unless of course you are working on putting together a type set.

This is not a sarcastic post and please don't take it that way, I am honestly interested in this and hope someone can
shed a light on it for me.

Thanks.

 

[LemonThrower]

the logic behind hoarding copper is that the melt value is 2.6 cents and you can acquire them for 1.0 cents. today, you can't realize the entire differential, you have to be patient. but if you go to the bank they are happy to get rid of customer wrapped cents and you are likely to score 20+% copper. you can readily sell those for 1.3X face, often higher. when the penny is eventually discontinued by congress, the melt ban will serve no purpose and likely will be lifted. if that happened tomorrow, then refiners would probably pay you 85% of the 2.6 cent melt value.

this is a get rich slow scheme. i think you are frustrated that the copper cents are fairly illiquid now, especially compared to 90% or even 40%. you are correct.

 

[JT10]

Diver Down, if you like Canadian coins come to Michigan. I get on average one Candian coin for every 2 or 3 hand rolls I search of Pennies, Nickles or dimes.

 

[SFBayArea]

Diver Down, if you like Canadian coins come to Michigan. I get on average one Candian coin for every 2 or 3 hand rolls I search of Pennies, Nickles or dimes.

Ever take your Canadians to a smelter? Canadians have even a hight content in copper & it's not like the U.S. is going to enforce Canadian laws. You didn't do the transporting, you just found them in rolls.

 

[JT10]

Diver Down, if you like Canadian coins come to Michigan. I get on average one Candian coin for every 2 or 3 hand rolls I search of Pennies, Nickles or dimes.

Ever take your Canadians to a smelter? Canadians have even a hight content in copper & it's not like the U.S. is going to enforce Canadian laws. You didn't do the transporting, you just found them in rolls.

Not yet. I only just started doing pennies. I am setting the copper ones aside, however. When I get a bunch then I will see what I can do with them.