Pennies from Heaven

[RylScam]

So are MDer's hitting the local parks again shooting for pennies. I got this e-mail from a friend.

How would you like to go to the bank with $15.40 and leave with $35.00?

It is easy and legal. All you have to do is trade your paper money for rolls of pennies. Copper hit $3.50 a pound today. That means 154 pre-1982 pennies are worth more for their copper content then their monetary value.

With Zinc rising even post 1982 pennies could be worth more then their monetary value soon.

There are already reports of penny hoarding.

Here are some news links.

http://www.theaustralian.news.com.au/story/0,20867,18786863-36375,00.html

http://www.pittsburghlive.com/x/pittsburghtrib/s_418275.html

http://www.freemarketnews.com/WorldNews.asp?nid=11703

http://www.azcentral.com/news/articles/0422pennies0422.html

Hope it intrigues you as much as it did I.

 

[Larry (IL)]

It sounds easy....BUT.... you first have to remove the 5% tin and zinc from each cent before you can sell them as copper. When you find somebody who will buy them without having to pay the freight, let me know. THEN, we will all be rich.

 

[RylScam]

I talked to a local scrap dealer. Pre 1982 pennies would be rated as #2 copper. He was offering 10 cents below #1 copper (pure). He has never thought of buying pennies and was reluctant because he wasn't sure if it was legal. It is and it would be a help to the US government. They need alot of copper to mint new coins. Over 12 Billion pennies were minted in 1996. With new pennies being 99.2% zinc and .8% copper we can mint many new pennies.

I decided to do a sample. I bought $25 in pennies today and found that about 33% of the coins were pre 1982. I even found a 1915 Wheat Penny in Good condition that is worth $4. Sure surprised me.