What is the Melt Value of a "Bag O'Wheats"...
OneCent
Posts: 3,561 ✭
assuming that you could legally melt them?
It seems that buying 5,000 coin bags of well-circulated wheats is all the new rage and I am trying to figure out why.
It seems that buying 5,000 coin bags of well-circulated wheats is all the new rage and I am trying to figure out why.
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
0
Comments
Around $125
The US government has changed coinage melting rules before. Once they have a real reason and motivation to get that copper out of currency and into industry, they will do so. On the other hand, one could always mine more.
$120 maybe...........I'm sure they twice that for 5,000 wheaties.
<< <i>This whole thread cracks me up. Who would have thought a few years ago to say that a circulated 1958-D cent was worth "melt"?
It's always been worth melt. Question has been, up until recently, is it worth more than face.
<< <i>This whole thread cracks me up. Who would have thought a few years ago to say that a circulated 1958-D cent was worth "melt"?
Lol, it is pretty funny and perhaps a sad commentary on our economic state of affairs.
Melt value of wheats
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
<< <i>This whole thread cracks me up. Who would have thought a few years ago to say that a circulated 1958-D cent was worth "melt"?
I would imagine that after the composition change in 1982, a lot of folks thought about the metal content in cents being worth much more than face value. It will happen with clad quarters and dimes some day, though of course, that time table is uncertain. Clad quarters are worth about 7 cents in melt value. The "problem" with hoarding cents and nickels is the weight and size for any large dollar amount.
Actually,the price of copper is a better economic indicator of the state of our economy than the "other" metals,ie silver and gold.Don't like the word "better?" Try "sounder?"
Sad commentary? Try "accurate commentary" on for size.
Consider this
Pennies made before 1982 contain 95% copper so next time you see one laying on the sidewalk amaze yourself and pick it up.If it has a date before 1982 it might put a smile on your face.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Instead of screwing around melting cents, go pick up returnable cans alongside the highway. You'll make more money, not get in trouble with the law, and do a good work as well.
Ray
I would suggest that hoarding is the way to go for now.It's only a matter of time before it will be made legal to melt copper cents in the US.
Whoever is careless with the truth in small matters cannot be trusted with important matters.