kingingkunsan
Member
This weekend I found my one thousandth penny for the year. Too bad they were not worth more.
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One Thousand
- Thread starter kingingkunsan
- Start date
I think I'm gonna start saving all my copper cents too..just a matter of time before we eliminate pennys and they can be legally scrapped, I've been thinking about this, since they make such an obviously different sound, it should be easy to keep them separated and dump them in a five gallon tub or something.
Mud
Mud
..my detector distinguishes zincs from coppers is what I was thinking. now all I need to do is keep them separated in the pouch...I cant see the dates on coins without a loupe, and I cant hear very well anymore, but the detector makes a different sound on the copper and zinc ones. I dig a lot more copper than zinc looking for silver dimes, but I will pick up all zincs that are relatively easy to get. 1000 pennys is a good challenge and it teaches a lot about detecting.
I found two long jump pits that somebody dumped 100's of pennys in, some copper, some zinc, one of these days I'll get over there with the sandscoop and see what else might be hiding in that mess.
Mud
I found two long jump pits that somebody dumped 100's of pennys in, some copper, some zinc, one of these days I'll get over there with the sandscoop and see what else might be hiding in that mess.Mud
keep in mind that when it comes time to melt that the copper used in coins is not the same grade of copper used in pipe or wire for instance therefore u are not gonna get full value for ur pennies. if the current price is 2.5 cents u may only get 1.5 cents for me I'm just trading them in also here in Canada they will likely never remove the melt ban on themhatpin said:
Its nice to save all that copper-
however, melting it down is another matter.
If I am not mistaken recent Department of Treasury Regulations (or other federal regulations) enacted have made the melting of pennies for scrap illegal. For the time being this does not apply to silver coins.
Unfortunately too many companies were 'mining' copper from the money supply on such a large scale and with great sophistication that the government put an end to it.
A penny being worth 2 cents in scrap value was (and is) quite an incentive to make some 'free' money on a grand scale.
Some outfits had developed electronic coin sorters that could electronically check for the copper content of pre '82 cents and automatically weed out the zincolns on a massive scale.
Go to your bank or your local federal reserve, buy 5,000 bucks in pennies, and feed them into the sorter. Take the zincolns back to the bank and cash them in for face value. Melt the copper ones and double your money. like the song says, "getcher money for nuthn'. . ." Great idea while it lasted.
I recall hearing a certain mining company went nuts doing this and made huge money before Uncle Sam decided for us that he wasn't in the business of letting folks profit without His consent.
A stroke of the pen put an end to it. I think it is actually criminalized now.
Of course theres nothing wrong with just piling up your copper cents and sitting on them. When copper spot prices rise they are still worth more than a penny. You could probably still sell them for more than face, you just can melt them.
HH
however, melting it down is another matter.
If I am not mistaken recent Department of Treasury Regulations (or other federal regulations) enacted have made the melting of pennies for scrap illegal. For the time being this does not apply to silver coins.
Unfortunately too many companies were 'mining' copper from the money supply on such a large scale and with great sophistication that the government put an end to it.
A penny being worth 2 cents in scrap value was (and is) quite an incentive to make some 'free' money on a grand scale.
Some outfits had developed electronic coin sorters that could electronically check for the copper content of pre '82 cents and automatically weed out the zincolns on a massive scale.
Go to your bank or your local federal reserve, buy 5,000 bucks in pennies, and feed them into the sorter. Take the zincolns back to the bank and cash them in for face value. Melt the copper ones and double your money. like the song says, "getcher money for nuthn'. . ." Great idea while it lasted.
I recall hearing a certain mining company went nuts doing this and made huge money before Uncle Sam decided for us that he wasn't in the business of letting folks profit without His consent.
A stroke of the pen put an end to it. I think it is actually criminalized now.
Of course theres nothing wrong with just piling up your copper cents and sitting on them. When copper spot prices rise they are still worth more than a penny. You could probably still sell them for more than face, you just can melt them.
HH
charlotte49er
New member
I've been saving my copper pennies for some time.
Each one if a 3 liter box full of pennies.
I use a scale (Copper is 3.0-3.2 grams) plated pennies (2.4-2.6 grams). I also have one of those electronic sorters for bigger quantities. (Nice thing about those is, it's sorts silver as well.)
You still get copper pennies in change, though les and less. I haven't seen silver coins in change for several years.
Each one if a 3 liter box full of pennies.
I use a scale (Copper is 3.0-3.2 grams) plated pennies (2.4-2.6 grams). I also have one of those electronic sorters for bigger quantities. (Nice thing about those is, it's sorts silver as well.)
You still get copper pennies in change, though les and less. I haven't seen silver coins in change for several years.
kingingkunsan
Member
Recently I have been keeping the coppers that I detect and get in pocket change. Right now I have 1700 rolled and another 1000 or so loose. No where near charlotte49er's stash 