Many of the investors who buy gold and silver bars and collectors who study coins have probably never thought about collecting copper pennies to make a useful profit. You’ve probably heard that “a penny saved is a penny earned” because a low penny costs one cent. While most money is worth a pittance, did you know that all copper pennies cost twice as much as their face value?
Pennies minted from 1909 to 1982 were made of 95% copper and 5% zinc. You may not think that copper is worth money, but it is an extremely important metal. Copper is widely used in industry, especially in electrical, construction, transportation and many other fields. This is why copper has a pretty good price, as it is also the best conductor of electricity, does not fade and is plastic. To find the value of a copper melt, we need to know that a pound of copper currently costs about $ 3.12. 154 copper pennies equal one pound. Thus, 3.12 divided by 154 is about 2 cents for every penny.
Since the cost of each copper penny is 2 cents, it can be a small investment. The more copper money you have, the bigger your investment. So how do you still get a copper penny for its face value? First, you can find pennies before 1982 by studying the daily changes, or you can buy rolls at banks.
In addition to the fact that every penny of copper costs twice as much, its numismatic value is also important. Studying the dates and conditions of each coin the way a collector does can give copper even more importance. But you don’t necessarily have the knowledge of an experienced coin collector. Many rolls contain old “wheat” cents minted to the modern center of Lincoln (1959 – now). It’s easy to spot a cent of wheat – look at the dates minted between 1909 and 1959, and the reverse side on which the words “ONE CENT” are concentrated between two stalks of wheat.
Depending on the state of wheat prices is less frequent and more valuable. The better the condition, the more they will cost. When I hunt for rolls, I usually find pennies of wheat in “good” and “very good” condition. They can cost 10-15 cents on eBay. Quite often you can find a lot of old wheat cents and copper Lincoln / Memorials in a bank box with 50 rolls. To get a better knowledge of terms and prices, I would go online and search for “value for money per year” or “what is my coin worth”. You can also purchase the latest “Official Red Book: A Guide to United States Coins,” which can be purchased in stores or on Amazon.com.
The boxes of money you buy at the bank contain $ 25 in 50 rolls, which is 2,500 bucks. If you don’t want to view each roll and inspect each one at a time, you can purchase a copper penny sorting machine that allows you to separate the boilers from the zinc. If you’re in no hurry to separate them, you can purchase a basic “EZ Copper Penny Sorter” for $ 30 to $ 60. To quickly sort a lot of money you will need a “Ryedale Apprentice Penny Money Sorter” which sells for $ 500.
Another reason for collecting copper money is that someday, if the Mint puts it out of circulation, it will be legal to melt it in a bar. Bars are much more convenient to set aside than to hold on to huge jars that can hold hundreds or even thousands of money.
The great advantage you get when buying rolls of cash is that it won’t cost you more than you paid for. So to speak, you will not cost a penny, because you buy all the rolls of pennies at face value. You will find not only a lot of copper pennies, but also older wheat pennies, which only adds value.