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Copper @ $2.9311/lb means copper cents back up to $.02 each

WeissWeiss Posts: 9,935 ✭✭✭✭✭
in Precious Metals
$.0193746 or 193.74% of face value.

We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    True, but as wheat back "type" coins, they've been bringing from 2.5 to 3.5 cents each for a while. And this is simply for circ pennies.

    A MS63 St. Gaudens brings about the same ratio over its precious metal content. I like the idea of the portability of a 1 ounce, 80 yr old, choice unc saint vs. 500 lbs of copper pennies (try sticking those in your pocket).

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    carscars Posts: 1,904
    When is the last time you pulled a St. Gaudens from your pocket change?
    Its all relative
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Answer: Not too long ago. I sometimes carry one as a pocket piece.

    Question: How long will it take you to pull 300 lbs of wheats from searching change in order to purchase a $20 Saint? (that's about 13K to 15K pennies).

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    brokeerbrokeer Posts: 69


    << <i>Answer: Not too long ago.

    Over 76 years is not too long ago to you?

    Question: How long will it take you to pull 300 lbs of wheats from searching change in order to purchase a $20 Saint? (that's about 13K to 15K pennies).

    roadrunner >>



    At least it is still possible.
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    Norseman88Norseman88 Posts: 962
    At least my nearly 600 pound stash of copper pennies have went back up in value after the steep sell off this spring.image
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    secondrepublicsecondrepublic Posts: 2,619 ✭✭✭


    << <i>The only problem at the moment is that it is against the law to melt them.

    Anybody know what a nickel's worth of nickel is worth at the moment? >>



    Try this at the Coinflation website. It's the closest thing I can find, though it doesn't seem to give the specific nickel value.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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    brokeerbrokeer Posts: 69
    Justanother: The melt value for a silver nickel is $0.83.
    http://www.coinflation.com/
    I think the mint website has a page stating the composition of coins that would enable you to determine the nickel value. 75% sounds right IIRC.

    rr: I now realize I misunderstood your post. (The reason you picked a Saint out of change is because you put it there.) I would not think of mixing a Saint with change because I would not want to ding it up. I could see having it as pocket piece on its own however.
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    57loaded57loaded Posts: 4,967 ✭✭✭
    still it does give one hope to go though pennies at face value prior to 1982.

    it is illegal to melt them but not sell them at a their melt value (or whatever you could get) i suppose.

    RR was/is your pocket piece Saint in an air-tite or slabbed?...i actually think you put a raw one in thereimage
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    Norseman88Norseman88 Posts: 962


    << <i>still it does give one hope to go though pennies at face value prior to 1982.

    it is illegal to melt them but not sell them at a their melt value (or whatever you could get) i suppose.

    RR was/is your pocket piece Saint in an air-tite or slabbed?...i actually think you put a raw one in thereimage >>



    Not to mention the wheat cents and varieties you can get for face value, I've gotten nearly $50 worth of wheat cents and even two Indian pennies since I started seperating pennies along with some 1970-s small date, 1960 P &D small date, 1999 and 200 wide AM, etc.
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    gecko109gecko109 Posts: 8,231 ✭


    << <i>Answer: Not too long ago. I sometimes carry one as a pocket piece.

    Question: How long will it take you to pull 300 lbs of wheats from searching change in order to purchase a $20 Saint? (that's about 13K to 15K pennies).

    roadrunner >>




    Doesnt need to be all wheats....95% copper cents lasted till 1981 with some made in 1982. Cant imagine it would be all that difficult to produce a machine that can run bags of cents through it while kicking out the heavier (3.1g vs 2.5g) copper coins.
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    brokeerbrokeer Posts: 69
    Doesnt need to be all wheats....95% copper cents lasted till 1981 with some made in 1982. Cant imagine it would be all that difficult to produce a machine that can run bags of cents through it while kicking out the heavier (3.1g vs 2.5g) copper coins. >>



    Like this:

    http://www.youtube.com/watch?v=GSaJQZxhcqo
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    carscars Posts: 1,904
    Looks cool, But Relatively expensive.
    Its all relative
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    pennyholicpennyholic Posts: 153 ✭✭✭
    Well as silver and gold get the headlines copper is starting to roll upward. At 2.93/lb puts them at .0194 each, yes not much of a gain from original post but I see copper cents above 2 cents each before year end.
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    Norseman88Norseman88 Posts: 962


    << <i>Well as silver and gold get the headlines copper is starting to roll upward. At 2.93/lb puts them at .0194 each, yes not much of a gain from original post but I see copper cents above 2 cents each before year end. >>



    The real question is will there ever come a time when copper cents trade hands at a premium or are legally melted down into ingots???
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    metalmeistermetalmeister Posts: 4,584 ✭✭✭✭✭
    Trading Bags of Face value Copper in 2012image
    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
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