Quite a few investors who obtain gold and silver bullion coins and coin collectors who study coins, have possibly never ever thought of collecting copper pennies to make a worthwhile profit. You have possibly heard “a penny saved is a penny earned,” simply because the lowly penny is worth 1 cent. Although most pennies are worth a meager face worth, did you know that all copper pennies are worth double their face worth?
Pennies minted from 1909 to 1982 had been created of 95% copper, and five% zinc. You may not feel of copper as worth considerably monetarily, but it is an really essential metal. Copper is extensively utilized in business, particularly in electrical, building, transport, and numerous other individuals places. This is why copper fetches a pretty fantastic value simply because it is also the finest conductor of electrical energy, does not tarnish and is malleable. To obtain copper's melt worth, we will need to know that a pound of copper is presently worth about $three.12. 154 copper pennies equal 1 pound. So three.12 divided by 154 is about two cents for every penny.
Considering the fact that each and every copper penny's worth is two cents, it can be a compact investment. The a lot more copper pennies you have, the higher the investment. So, how do you nevertheless get a copper penny for its face worth? Very first, you can obtain pennies prior to 1982 by examining your each day transform, or you can obtain rolls from banks.
In addition to the truth that every copper cent is worth twice as considerably, its numismatic worth is also essential. Examining the dates and circumstances of every coin the way a coin collector would, may give your copper even a lot more worth. But you do not necessarily will need to have the information of a seasoned coin collector. Quite a few rolls include older “wheat” cents which had been minted just before the modern day Lincoln cent (1959 – now). It is uncomplicated to spot a wheat cent – appear at the dates, minted among 1909 and 1959 and the reverse side on which the words “A single CENT” are centered among two stalks of wheat.
Based on situation, wheat cents are rarer and a lot more worthwhile. The much better the situation, the a lot more they will be worth. When I hunt rolls, I generally obtain wheat cents in “fantastic” to “really fantastic” situation. These could fetch a value of 10-15 cents on eBay. It is not uncommon to obtain numerous old wheat cents and copper Lincoln/Memorials in a bank box of 50 rolls. To get a much better information about circumstances and costs I would go on-line and search for “worth of pennies by year”, or “what is my coin worth.” You can also obtain the most current “Official Red Book: A Guide Book of United States Coins” which are accessible at bookstores or on Amazon.com.
Boxes of pennies you obtain from the bank include $25 of pennies in 50 rolls, which totals to two,500 pennies. Unless you want to go via every roll and examine every 1 by 1, you can obtain a copper penny sorting machine that lets you separate the coppers from the zincs. If you are not in a hurry to separate them, you can acquire a standard “E-Z Copper Penny Sorter” from $30 to $60. For swift sorting of lots of pennies, you will will need a “Ryedale Apprentice Penny Sorter” which sells for $500.
A further cause to gather copper pennies is that someday when the Mint requires them out of circulation, it will be legal to melt them into bars. Bars are considerably a lot more manageable to place aside as an alternative of holding on to massive jars or bins that can include hundreds or even thousands of pennies.
The superb benefit you acquire when purchasing rolls of circulated pennies is that it will not expense you a lot more than what you paid for. It will not expense you a cent, so to speak, simply because you obtain all of the rolls of pennies at face worth. Not only will you obtain numerous copper pennies, but older wheat pennies, which only adds worth.