Why Should You Hoard Copper Pennies in 2024?

[@johnpeek827]

Pennies have become my favorite coins to search for all types of errors. While looking for Cu, I've found 2 1998-D WAMs qnd many strike throughs and die clashes. I've put away 10 rolls of 1982s PD.

[@gadsdonflag4289]

Half the 1982 pennies you find are still copper. The way to easily find out if it is good or not is to gently touch them on a grinding wheel (right on the edge). You'll know immediately of it' a copper or zinc penny and you'll barely damage the coin....especially if all you want to know is if it is copper or not. I've got LOTS of them. You can then send your slightly damaged zinc pennies back to the bank inorder to buy another box. Been doing this for years.....I used to find 20% were copper....that has dwindled to around 10%. I even found a few Indian head cents.

[@madhatter-1891]

Or you could weigh them on a scale, zink =2.5 grams copper=3.11 grams

[@devinweilbacherweilbacherd8645]

Could do a little bit more and look into the font size on date. If the 82 is smaller than the 19 is a zine if the 82 is same as 19 its a copper

[@dancoe4489]

I collect Canadian pre 1996 Pennies also. They are 99 percent copper.

[@killakain100]

98%

[@KeithHietanen-dc3ir]

Me too

[@dancoe4489]

@@killakain100 thank you

[@Siluetae]

The 1982 D small date copper penny is the rarest modern coin in existence, only 2 have ever been found - just so you know

[@kingelvis1956]

@@Siluetae That can’t be right; I have a slew of them!

[@genegant998]

@@kingelvis1956 I do also

[@lauramaebell626]

Thank you very much for this video. I am now trying to find meca scale like yours. This is so great because I am always open to learn how to do this!!!! Thanx babe!

[@kingelvis1956]

Copper would really have to skyrocket in value in order for anyone to “get rich” off of their copper penny hoard. I have been hoarding them for decades and I really don’t know how many that I have! I have heard more than once, that melting pennies and nickels is actually ILLEGAL. So, how are we to be able to reap the rewards of our hoarding?

[@2Truth4Liberty]

Melt them down to sell as copper value? You get to reap the reward of 20 years in prison :-0) LOL

[@lifeorliberty3086]

Im from TN. The other day i tried my first box of pennies. I got 326coppers, 6 Wheaties and 3 canadian pennies. The oldest canadian was 1942.

[@captaincoincollector]

Nice Canadian find! And nice box. I usually pull between 300 and 350 coppers per box here! Happy hunting and good luck!

[@marymastromauro8164]

Good luck Andy!

[@RkicF8]

I collected copper bullion when it was less than a dollar per round. I also collect pre 1983 copper and nickels. When I bought less than 100 dollars of silver I would order a roll of copper bullion to get the free shipping so it was all mostly free.

[@johnpeek827]

It's amazing how much Cu is out there. I've saved off 40 rolls of 95%, each weighs 150 grams. A pound of pennies equates to about 143 cents. My "Log" of pennies is growing each day.

[@frankgarcia5206]

I been weighing the 82s been getting 50/50 of copper and zinc

[@chipsramek3868]

Why did You say SILVER several times during your graph talk ?

[@treasuretom13]

I metal detect and in older areas the pennies are mostly copper. I use a rock polisher to clean them, then I throw them in a big huge bottle.. I'm now on my 4th big bottle! We cannot take them to sell at a scrapper as they're still legal tender..do you think the government will do away with pennies..so we can sell them?

[@clamkinman]

It cost the Government more to make a penny than a penny so yes eventually pennies will be discontinued hence the zinc penny

[@veritasfiles]

People in New York are more naturally embedded in the system, but people that don't live on the coasts have a higher proportion of people who know where value is located right out in the open, and they slowly remove it as it passes through their hands.

[@alfredweaver5390]

I hoard all those new “copper clad zinc” Pennie’s and as soon as my gallon jug gets full I turn them in for real money that’s actually worth something.

[@memoisbill]

The only legal way to melt and scrap pennies would be if they are removed as currency. That said. I always separated the copper from the zinc pennies 😊

[@whereswaldo5740]

A penny is presently worth 1.7 cents They were costing a nickel to make. So they’re zinc now with a copper coating. But copper futures is at $4.50 a ounce. You can still find rounds for $1.50 to $1.80 per ounce. Plus tax and shipping. My son bought 34 pounds of copper pennies for $200 including shipping. Was about $180. Then S&H. Works out to 4 cents a piece. In video he says they’re going for about 3 cents a piece now. Won’t be long he’ll break even. And it will go up with electric everything being the future.

[@HockeyVictory66]

I think you mean per pound. The current price per ounce is $.25. The price per pound is $4.06.

[@Leonbergerss]

how do you turn your pennies back in when you are done ?

[@JohnnyBGood11]

I like getting copper pennies in change, I have been collecting copper pennies for years now and I collect nickels because they are 75% copper

[@martin33366]

What years are nickels copper?

[@JohnnyBGood11]

@@martin33366 25 Percent Nickel Coin First, each official nickel coin in the U.S. is made with 25% nickel. That nickel material is combined with layers of other materials like… 75 Percent Copper and Manganese 75% Copper and manganese or some other strengthening metal, such as iron. This alloy is called “ cupronickel” or copper-nickel, a reference to the alloyed nature of the resulting material. Copper and manganese are added to nickel to strengthen five-cent coins, making them better for general circulation. Nickels have been made with this metallic composition since 1866, with a diameter of 0.835 inches and a thickness of 0.077 inches. Prior to this design, silver half dimes were issued from 1792 to 1873. Because of the American Civil War and related economic uncertainty, silver and gold were driven out of circulation in many cases. To solve this, the government issued paper currency and then issued a new form of a five-cent coin that did not use pure silver whatsoever. Today, indeed, modern nickels are among the least valuable coins in terms of their melt value purely because they don't include gold or silver.,.. go to Jefferson Nickel Values | (1938-2024) - CoinTrackers.com 251 rows · With an exception of the War Nickels 1942-1945 (56% copper, 35% silver, and 9%

[@TheCoinChaser]

i’m doing this in england - the pre 1992 pennies - we can’t melt them down here but i’m interested to see where copper is headed for the future

[@Graymenn]

how they gunna know? just add scrap copper wire to throw off the alloy composition

[@Franks_finds]

Nice session. What kind of scale do you use?

[@stevofromiowa]

Is there a market for pre 1982 pennies where you can sell them for anything close to the spot price of copper? Obviously, there is for the silver quarters and dimes, but I've never heard of one for copper pennies.

[@420jacksonian]

are you holding on to them until you can scrap them , or do you sell them to people buying copper ?

[@melaniesimms7320]

So do you just sit on the copper coins and hope for melt down approval? Obviously you could ebay the wheaties and triple your money or so, but whats up with the non wheat copper pennies?

[@paulcoenen7918]

Apparently there are people dumb enough to buy them and pay the shipping cost plus. Makes no cents to me.

[@plunkervillerr1529]

How about 20 year old copper water pipe and electric wire?

[@HockeyVictory66]

It’s down to $4.06 on 11-26-24. Still really volatile.

[@MysteryShadow1969]

Cool video Captain!

[@captaincoincollector]

Thanks MS69, which actually is a high coin grade, lol

[@singleandlooking8026]

What a waste of time and money, not for me.

[@richardmetcalf2346]

I've been throwing copper cents in a 5 gallon jug! It probably weighs around 250 lbs.

[@reedevans2322]

Why do you keep saying silver?

[@thecataclysmitician4661]

What brand and type of scale do you use? Link?

[@silversleuth007]

Cool video.

[@QuaaludeCharlie]

Right 0n Andy :) QC

[@lannydante9390]

What about copper ONE ounce rounds?

[@rvmagnum5415]

Im a collector, the thought of melting old coins seems so wrong to me. Well , to each his own. thanks for the video.

[@nathanhill6042]

Same but on the other hand it will make mine a little more rare and a little more valuable

[@paulcoenen7918]

Why collect something they made billions of. 😊

[@PaulsPatio]

Who will melt it? Thought the government told the metal places not to recycle Pennie’s?

[@johnarmenta2199]

If you are just looking for copper, there are many sources, probably better than penny hunting.

[@paulcoenen7918]

And you don't have to pay for anything it.😊

[@matthewnolan1708]

war drives up the value of copper

[@whoknows3814]

I pull my change and jnspect it, but this is a waste. Just collect it, or by ignots

[@jasonluchtel7974]

Why melt them? The US government already guarantees their weight and purity and besides there might be a small numismatic value to them while others are being melted away.

[@ScruffyIsMyName]

Hate to be that guy, but you've got a massive typo in your thumbnail.

[@williamdusseau7583]

But it is illegal to melt them so you are losing interest you could be gaining in a CD. But it is more fun.

[@johntoldme]

Illegal to melt and sell as bullion. If you use the metal to make something it is legal.

[@whereswaldo5740]

It is real money. And people that don’t collect even realize it’s money. If hyperinflation hits they will still hold value as a currency.

[@donsab-xz4so]

If you live near the border you could take them to canada and sell them there. What's to stop a Canadian from melting them down in Canada?

[@johntoldme]

@donsab-xz4so the absolute fact of the matter is you're right. So unless someone is flagrantly flaunting this law (taunting the mint) most likely the government won't do anything to anybody. It is provided that you can melt down coins or deform them as long as you yourself are going to use them in a product and not to merely sell it as bullion.

[@E-w1z]

If the ultimate goal is to melt it, why not look for free scrap copper? Wires, motors, pipes, etc. Legal and 100% profit.

[@paulcoenen7918]

Exactly , you are better off paying down debt with your pennies. Also I don't believe congress will ever allow melting them, they will probably do what canada did a few years ago, make you turn then into a bank for face value . Just seems like such h a waste of productive time,energy and space.

[@brettpeeloff2120]

I have to assume that he's doing this to buy$ .01 cents of copper to sell it for $.03 or more

[@Silvercrypto-xk4zy]

just picked up $175 fv below melt from my lcs saturday

[@captaincoincollector]

Awesome, congrats!

[@jonathanfranken4212]

So the question is where do you sell the copper to

[@timothylongmore7325]

If you want to sell it just take the scrap to the scrapyard. They won't pay more and probably reject it. Selling bars is to individuals and might prove difficult. I save the pennies as is. Might melt some for hording away someday , but will definately go through them for collectability. Key dates etc. Saving wire and copper pipe for melting down.

[@Leonbergerss]

i wish i had my eyesight back like you do

[@bradbradshaw-i4n]

canada stopped using pennies years ago.

[@fishinghuntingfool]

I see MSC supply ship are you in the merchant marine Captain ?

[@captaincoincollector]

@@fishinghuntingfool yes I am and hold a 2nd mates Unlimited License

[@fishinghuntingfool]

@@captaincoincollectornice my grandson is graduating from mass maritime engineering and has signed with MSC just finished his commercial sea term on the Pecos with RIMPAC exercises. Small world isn’t it ⛴️

[@SilentSilver24]

Cool find, SUB 😊

[@EricJohnson-cf8zq]

Can I call you Captain Benty ?? 🤪

[@wtf2203]

Modern pennies aren't copper.

[@markwilliams5811]

It's against the law to melt copper US cents Who wants to buy my copper cents? Where do we sell them?? Great show thanks.

[@Silvercrypto-xk4zy]

people (including coin/bullion dealers)) buy them every day. btw its no illegal to melt in every circumstnce, there are a few loopholes even without a full legalization

[@AnonymousStacker666]

People melt copper pennies anyway, law be damned.

[@allanfifield8256]

Everyone, keep your day jobs!

[@allanfifield8256]

​@@Silvercrypto-xk4zyCopper can be legally melted.

[@timothylongmore7325]

only illegal if you melt to sell.

[@oneisnone7350]

This idea of hoarding pennies makes no sense. $1000 worth of copper is 250 pounds of pennies. It’s not worth the time and effort.

[@ericswain4177]

Your time must not be worth much to you.

[@joecartersr]

Why are you waiting to melt them down? It is not illegal to melt down any American coin.

[@captaincoincollector]

Sure there are loopholes, but it is illegal to melt copper and Pennie’s specifically for profit on metal composition

[@RkicF8]

Refiners melt old coins everyday, stop with the superstitions.

[@captaincoincollector]

@@RkicF8 Department of the Treasury Monetary Offices 31 CFR Part 82 Section 5111(d) of title 31, United States Code, authorizes the Secretary of the Treasury to prohibit or limit the exportation, melting, or treatment of United States coins when the Secretary decides the prohibition or limitation is necessary to protect the coinage of the United States. In enacting 31 U.S.C. 5111(d), Congress has conferred upon the Secretary of the Treasury broad discretion to ensure that he can effectively carry out his statutory duties to protect the Nation's coinage and to ensure that sufficient quantities of coins are in circulation to meet the needs of the United States. Pursuant to this authority, the Secretary of the Treasury has determined that, to protect the coinage of the United States, it is necessary to generally prohibit the exportation, melting, or treatment of 5-cent and one-cent coins minted and issued by the United States. The Secretary has made this determination because the values of the metal contents of 5-cent and one-cent coins are in excess of their respective face values, raising the likelihood that these coins will be the subject of recycling and speculation. The prohibitions contained in this final rule apply only to 5-cent and one-cent coins. It is anticipated that this regulation will be a temporary measure that will be rescinded once actions are taken, or conditions change, to abate concerns that sufficient quantities of 5-cent and one-cent coins will remain in circulation to meet the needs of the United States. The Secretary of the Treasury has delegated to the Director of the United States Mint the authority to issue these regulations and to approve exceptions by license.

[@paulcoenen7918]

​@RkicF8 That's old silver not pennies.

[@dancerscc]

You should NOT horde copper pennies. It just does not make cents. There are better alternatives.

[@tompowers8495]

Like what?

[@dancerscc]

@@tompowers8495 Quarters!

[@poppajretired410]

I see what you did there😂

[@IronMike-f8i]

Too much work,, for small exchange. A 🍋 🍋lemon ade' stand makes much more

[@dennisniemier3024]

TRUMP 2024 🙏🙏 🙏

[@TalmageL-pn2pv]

A RISING TIDE raises ALL ships.😊👍🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸

[@MrsMingo]

OMG, another talker.....

[@juliofernandez8317]

A Fools errand if not a hobby