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Copper cents: Are these worth squirreling away?

BBNBBN Posts: 3,761 ✭✭✭
I've just been throwing them in a coffee can as I get change over the last few years. Is it worth the time?

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Comments

  • DrBusterDrBuster Posts: 5,379 ✭✭✭✭✭
    No, storage costs aren't worth it.
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Originally posted by: DrBuster
    No, storage costs aren't worth it.


    +1
    Save time and space...spend them as fast as you get them.
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  • ShadyDaveShadyDave Posts: 2,199 ✭✭✭✭✭
    Originally posted by: BBN

    I've just been throwing them in a coffee can as I get change over the last few years. Is it worth the time?




    image





    I like to CRH a box of pennies every once in a while while I watch the sox, bruins or uconn. It's fun, cheap and I find a good amount of copper, wheaties, errors and the occasional indian head.





    I have a big basement, so a 5 gallon bucket or two will take up about 3 square feet and I have a local credit union that is happy to give me boxes and use their free coin counter. What is my end game you might be asking, I have no idea but my better half regularly calls me a hoarder...
  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    Sounds like a fun time ShadyDave. Only a coin collector would understand image
  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    Here is the breakdown:

    Each cent weighs 3.11 grams
    At 95% copper that equals 2.9545 grams of copper
    One bank box has 2500 cents ($25) equal to 7386.25 grams of copper per bank box

    At $2.26/lb copper, a $25 bank box is worth $36.84 melt (This is about the price right now)
    At $5/lb copper, a $25 bank box is worth $81.42 melt

    Depending on how many cents you have, it could be worth it if the ban on melting them went away and the price got high enough I guess. People have saved crazier stuff.
  • element159element159 Posts: 511 ✭✭✭
    I save them, because I think it is fun. I dont expect it to be profitable. I love the metal copper, these are so cheap, and it is something to look for in circulation. The convenience store next door even knows to save the copper ones for me.

  • BBNBBN Posts: 3,761 ✭✭✭
    Thanks for the replies, everyone. As many as I have and as little as copper's moving compared to storage I figured I'm better off in the long run just cashing these in and buying an ounce of silver with the funds.

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    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • rte592rte592 Posts: 1,670 ✭✭✭✭✭
    If it doesn't have a wheat on the back, baring the occasional 59, it gets passed on to the next guy....Your welcome.
  • tneigtneig Posts: 1,505 ✭✭✭
    True story.
    I've done it for several years. Feed my sorting and treasure finding ocd/ergs during the winter months.
    I filled several coin albums for a few years.

    I still have tons of them, plus the regular pennies. No one wants the copper, even the wheaties, or even the regular ones.
    The grand kids don't want anymore. lol Even the nice shinny new ones in rolls. I should give away much much more at
    halloween. I brought some to the range and taped them to targets, but mostly I missed at 50 yards.
    I had thought that if copper soared I could at least sell the copper ones for something. Someone on a website asked
    for donations to help with the cost so I gave him a penny box from the bank full of my loose ones, so must have been closer to $50
    and he was insulted. Tried to sell the penny albums, and even offered them for the cost of change. No one took them,
    so I sent the albums to a sickly friend. He didn't say thanks. The coin machines at my bank chain are all down because
    the machines were keeping some of the money. My work van stops better with some weight in the back, but the boxes
    hurt my back carrying them, so they sit in the basement. Hopefully they would distract a thief from seeing my safe. I
    see some sales on ebay occasionally, but never seen a sold one. I was thinking about pouring 50lbs around my neighbors
    back yard because his dog barks so much, but he would know. My shelf unit is bowing from the weight and if I don't
    move some off of it, it will collapse. One of the reasons I converted some of my silver coinage to gold so it would be
    easier to manage. It made me realize how many pennies are around right now, and why the government is still
    minting them. Now I buy copper 1 oz coins for fun. I just ordered a 50cal bullet in copper.

    This too could happen to you. Oh, and wash your hands a lot. You don't know where they've been.
    COA
  • guitarwesguitarwes Posts: 9,266 ✭✭✭
    My head is spinning after reading tneig's post..........
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  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    Originally posted by: mariner67
    Originally posted by: DrBuster
    No, storage costs aren't worth it.


    +1
    Save time and space...spend them as fast as you get them.


    image
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    Originally posted by: guitarwes
    My head is spinning after reading tneig's post..........


    image
  • VanHalenVanHalen Posts: 3,992 ✭✭✭✭✭
    Back in the early 1990's I had a 5 gallon pickle jar that my roommate and I added pennies to daily. When it was nearly half full I took them to the bank in two containers that felt like 40 lbs each and got around $120 for them. Never again!
  • AUandAGAUandAG Posts: 24,762 ✭✭✭✭✭
    I think tneig has a problem !!!!!!!!



    But, here's the sad truth. They are not pure copper and that's the big problem in the price never going up. Too high a cost to make them into a pure bar sans impurities.



    bobimage
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  • USASoccerUSASoccer Posts: 445 ✭✭✭
    It is like returning bottles and cans, just not worth it to me...
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Originally posted by: BBN

    I've just been throwing them in a coffee can as I get change over the last few years. Is it worth the time?






    I throw all my change into a coffee can, when the little tray that holds my keys, billfold, and wedding ring starts to overflow

    Liberty: Parent of Science & Industry

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I have a gallon or two of wheaties and about thirty rolls .... someday (I keep saying) I will search through them, then take the rest to the bank. Cheers, RickO
  • DNADaveDNADave Posts: 7,271 ✭✭✭✭✭
    Would any recycling business take them? I mean, would they take them in as scrap?
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Originally posted by: DNADave
    Would any recycling business take them? I mean, would they take them in as scrap?


    Doubtful as it is illegal to melt them.
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  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    I never understood why they just didn't make them 100% copper. All the copper piping I see is really hard. It seems like it would be durable and hard enough as a coin and then it would be easier to melt them image
  • VanHalenVanHalen Posts: 3,992 ✭✭✭✭✭
    Originally posted by: hchcoin

    I never understood why they just didn't make them 100% copper. All the copper piping I see is really hard. It seems like it would be durable and hard enough as a coin and then it would be easier to melt them image




    I think it for the corrosion resistance of bronze.



  • tnsprotnspro Posts: 786 ✭✭✭
    I have had this for a while now, 5 gallons of copper cents. It was fun at the time. Anyone want it? image

    image

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  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    Originally posted by: tnspro
    I have had this for a while now, 5 gallons of copper cents. It was fun at the time. Anyone want it? image

    image


    What do you think the shipping would cost on that bad boy? image
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