Are copper wheat cents worth more than a penny ?

STEWARTBLAYNUMIS

If so, who is buying them ?

lkenefic

When the price of copper went up years ago, the cost of minting one cent was actually more than one cent. They "fixed" this in 1982... Zn... zincolns... but I'm not sure what copper has done recently...

erwindoc

If it ever becomes legal to melt pennies and nickels for their base metals, lots of people will be buying them. Until then, just speculators and hoarders I guess.

291fifth

Given the current administration's distaste for regulations I wouldn't be surprised if the ban on melting these is lifted. An influential member of congress needs to get inspired to do so. Step one would be to let such a member of congress know that such a restriction of melting even exists.

If that happens pre-1982 cents will quickly disappear from circulation and head to the melting pot. This would be good thing for collectors as it would eliminate many ultra-common coins.

Melt 'em, Danno!

BryceM

I paid more than a penny for this one:

But, in response to your actual question, yes. A search of eBay shows recent completed auctions of:

5,000 wheat cents "unsearched, mixed dates" for 360.77 with 56 bids. (7.2 cents each)
5,000 "UNSEARCHED! Wheat Cents / Pennies - Retired Coin dealer lot" for 280.00 with 21 bids. (5.6 cents each)
5,000 "1909-1958 PDS Lincoln Wheat cent bag" for 247.50 with 17 bids (5.0 cents each)

It might take a little hype and marketing, but apparently there's a market.

dpoole

Nuthin' prettier than a pretty Lincoln wheatie, BryceM!

I sold about 2000 Wheaties on Ebay at the end of May, BTW, for about 3 cents each.

claychaser

Wayne Herndon buys Wheaties as long as they are cull free.

Mission16

@STEWARTBLAYNUMIS said:
If so, who is buying them ?

How many you got?

cameonut2011

@claychaser said:
Wayne Herndon buys Wheaties as long as they are cull free.

What price level?

claychaser

@cameonut2011 said:

@claychaser said:
Wayne Herndon buys Wheaties as long as they are cull free.

What price level?

Here is his email:
[email protected]

SoCalBigMark

If sell for three cents, is your net two cents assuming you paid face?

MikeyMo

www.coinflation.com

Pre-1982 pennies are worth about 1.76 cents a piece in copper melt value right now.

OldIndianNutKase

I have heard that the ones with "original skin" sell for astronomical $$........to very astute collectors.

ricko

I have a gallon can of wheaties and probably about thirty rolls... been saving them for a stormy, winter week to go through.... have had them for many years. Cheers, RickO

kennytpez

When I first began collecting in 2007, my dad and I set a goal for 1 million. We are over 200,000 now but have not added any in the last couple of years.

OldIndianNutKase

@kennytpez said:
When I first began collecting in 2007, my dad and I set a goal for 1 million. We are over 200,000 now but have not added any in the last couple of years.

Funny........reminds me of Scrooge McDuck who used to sit in his vault of money. I hope you soon reach your goal and can post a pic of you and your father looking much like Scrooge McDuck.

OINK

jonasdenenbergllc

@cameonut2011 said:

@claychaser said:
Wayne Herndon buys Wheaties as long as they are cull free.

What price level?

http://www.wayneherndon.com/buy.pdf

Goldbully

@jonasdenenbergllc said:

@cameonut2011 said:

@claychaser said:
Wayne Herndon buys Wheaties as long as they are cull free.

What price level?

http://www.wayneherndon.com/buy.pdf

No mention this thread is almost 4 years old? What's your point?

Hydrant

If you have an oxygen acetylene torch handy, do this; Line up some copper pennies in a row and give them the treatment. It's a BLAST!

ianrussell

@STEWARTBLAYNUMIS said:
If so, who is buying them ?

Your ones are. :-)

• Ian

LanceNewmanOCC

@BryceM said:
But, in response to your actual question, yes. A search of eBay shows recent completed auctions of:

5,000 wheat cents "unsearched, mixed dates" for 360.77 with 56 bids. (7.2 cents each)
5,000 "UNSEARCHED! Wheat Cents / Pennies - Retired Coin dealer lot" for 280.00 with 21 bids. (5.6 cents each)
5,000 "1909-1958 PDS Lincoln Wheat cent bag" for 247.50 with 17 bids (5.0 cents each)

It might take a little hype and marketing, but apparently there's a market.

.
wow. that is considerably higher than last i was buying them!

scratch that. didn't realize it was an old thread.

jonasdenenbergllc

@Goldbully said:

@jonasdenenbergllc said:

@cameonut2011 said:

@claychaser said:
Wayne Herndon buys Wheaties as long as they are cull free.

What price level?

http://www.wayneherndon.com/buy.pdf

No mention this thread is almost 4 years old? What's your point?

Why not?

jmlanzaf

You can get $130 to $150 per bag. Wheat cents are never with only one cent, although some forumites throw that canard around occasionally.