Interesting: Hoard Copper Pennies As Investment Strategy? (2024)

FAQs

Is it worth hoarding copper pennies? ›

You want to focus on hoarding pre-1982 U.S. pennies, which contain 95% copper content, making the coin at least twice as valuable as its 1 cent face value. (Post-1982 pennies are not worth collecting, as they contain only 2.5% copper content -- the rest is zinc.)

It's illegal to leave the country with more than $5 in pennies. Most penny hoarders are stockpiling their currency in the hopes that the law will change and allow them to finally cash in on their stockpiles. Getting rid of the penny is not an outlandish idea.

Canadian copper pennies have a higher copper content at 98%, the balance being zinc and tin. Why should I save Copper Alloy cents/pennies? Some 1982 and all prior years are made with 95% copper. With copper at historic high prices, each of these coins are worth much more in actual metal content, than their face value.

So for the past 30 years, pennies have been made with an alloy comprised of 97.5% zinc and 2.5% copper, but pennies minted before 1982 are 95% copper and 5% zinc. The price of copper has more than quadrupled over the past 10 years.

It earns 95% of its revenue from affiliate and performance campaigns, and less than 5% from display advertising.

The Penny Hoarder is an American personal finance website and brand based in St. Petersburg, Florida. Owned by Clearlink, The Penny Hoarder publishes multimedia content about the different ways people can make and save money. Founder and CEO Kyle Taylor started the website in 2010.

Section 4. Penalty. Any person guilty of coin hoarding shall be penalized with ONE (1) YEAR IMPRISONMENT and a fine of ONE HUNDRED THOUSAND PESOS (PlOO,OOO.

While there is low risk of currency oversupply and accelerated inflation when hoarding money, financial hoarding may distort the value of assets and commodities and intensify the risk of losing money in investments or business ventures, as less money circulates through active economic instruments such listed companies.

Copper is one of the most coveted metals down at the scrap yard. It is a non-ferrous metal and is actually the best conductor of electricity – not including precious metals of course. Even though copper is a fairly common metal, it is still highly sought after for recycling purposes.

As they are exposed to the environment, pennies become coated with a layer of copper oxide, making them look tarnished (with a dull, brown, dirty appearance). Copper oxide dissolves in a mixture of weak acid and table salt.

What is the highest paid penny? ›

A penny from 1909 was the star of the show. It is, in fact, considered one of the rarest and most highly valued pennies in existence, made to celebrate the centennial of Abraham Lincoln's birth and inscribed with the initials of its designer, Victor D. Brenner. It sold for $365,000.

$0.0240581 is the melt value for the 1909-1982 copper cent on November 25, 2022.

It is not illegal to melt, form, destroy, or otherwise modify US coins, including pennies, unless the objective is fraudulent or with the intent of selling the raw materials of the coins for profit. Projects that use coins as materials are entirely legal in the United States.

The 1982-D small date bronze Lincoln cent is a rare and valuable transitional error! So, how do you find them? There are two key diagnostics: the size of the date and the coin's weight. The 1982-D small date bronze weighs about 3.1 grams, versus only 2.5 grams for the far more common zinc issue.

If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc and plated with a thin copper coating. For pennies dated 1982, when both copper and zinc cents were made, and best way to determine their composition is to weigh them.

The 1982-P Small Date copper Lincoln cent is one of the most difficult memorial cents to find in high grade condition. They are scarce even in MS64 and MS65 grades. It is one of the most difficult varieties to find in high grade out of all seven different varieties of this date.

It's easy to save a penny, right? Save $0.01 on day one and $0.02 on day two, continuing to add another penny to your savings goal each day. The penny challenge can save you over $600 in just a year!

For an overall view of The Penny Hoarder, you can see on the BBB website that we maintain the highest BBB rating of A+.

Those who favor keeping the penny believe the penny plays an important role in keeping down the costs of the goods and services we buy. If there were no pennies, stores and restaurants would round up to the nearest nickel. This means consumers would end up paying $0.55 for something that should cost only $0.51.

How much is The Penny Hoarder worth? ›

About The Penny Hoarder

On December 21st, 2020, The Penny Hoarder was acquired by Clearlink, a digital marketing subsidiary of SykesClearlink for $102.5 million. Its trailing revenue as of September 30, 2020 was $50 million.

The Department of Treasury estimates $62 million worth of pennies — or 8 percent of what is produced — is “lost” each year. They end up at the bottom of desk drawers, in sofa cushions, hoarded in jars, or simply discarded in trash by people who perceive their value is of little worth.

During Seasons, as a reward at specific Renown Levels. (Cache = 25. , Hoard = 50.

For high-value coins, use hard plastic holders. Professional coin grading services use sealed holders called slabs to protect authenticated and graded coins. Use acid-free cardboard and plastic holders free from polyvinyl chloride (PVC). Acid and PVC can ruin a coin's surface.

Although coins can definitely be profitable investments, it's important to keep your coin collecting hobby fun! If you enjoy buying coins for their historical significance or beauty, you don't have to stop just because the coins you favor may not necessarily be the best investments.

For example, someone who collects newspaper reviews may cut out the reviews they want and organise them in a catalogue or scrapbook. Someone who hoards may keep large stacks of newspapers that clutter their entire house and mean it's not actually possible to read any of the reviews they wanted to keep.

Secondary economic effects result from hoarding. Hoarding is an increase in demand. In the short-run with supply fixed, the price of the hoarded good would increase. This price increase does not necessarily mean that a real scarcity problem exists in the long-run.

The metal content of coins is the main benefit of collecting old coins. Coins are made from different metals, such as copper, nickel, and zinc. These metals can be melted down and reused for other purposes. This makes recycling easier and helps to conserve resources.

The Most Expensive Penny

The first 1943 copper cent was sold in 1958 for more than $40,000. In 1996, another went for a whopping $82,500. But those sales pale in comparison with the latest: this week, a dealer in New Jersey sold his 1943 penny for a staggering $1.7 million.

Wet the affected coin with clean tap or distilled water, roll in baking soda, then gently scrub with a soft toothbrush. Rinse the baking soda and debris off with more clean water, and repeat the steps if necessary.

Are pennies a good investment? ›

Penny stocks are risky and there's not a lot of information available on most stocks that trade over the counter. With so many alternatives to penny stocks that allow investors to start investing with $5 or less and still enjoy solid historical returns, there's really no reason to see penny stocks as a wise investment.

Copper can provide the individual investor with diversification in their portfolio. Although scarce, it is lower in price than gold and silver. It provides you a way to enter the semi-precious metals market with a more economical investment. However, copper is not like gold, which is a counter-cyclical metal.

Market participants looking to invest in copper have several options. They can hold it in the physical form through buying copper bullion bars or coins; they can buy copper futures; they can buy copper ETFs, or mutual funds that include copper and other precious metals; and they can also buy copper stocks directly.

Evolution of the Penny

Finally, in 1982, the coin would evolve into its modern form of only 5% copper and 95% zinc. The modern penny has the least amount of copper with a small 2.5% copper plating and a 97.5% zinc base.

The easiest way to determine if a 1943 cent is made of steel, and not copper, is to use a magnet. If it sticks to the magnet, it is not copper. If it does not stick, the coin might be of copper and should be authenticated by an expert.

1943-S Lincoln Cent Sells for $1 Million.

Pennies were, confusingly, abbreviated to 'd'. This is because the Latin word for this coin was 'denarius'.

How much is a 95% copper penny worth? ›

There is one pound of copper in 154 pennies, so when the price of copper is at $1.54 per pound a penny contains one cent worth of copper.

The Rare 1943 Penny

If your 1943 penny is made out of copper, it is worth quite a bit of money, generally $10,000 or more! The reason is that the 1943 copper penny is an error coin. The United States Mint accidentally used the wrong planchet metal when striking the coin.

Each 1¢ penny is worth approximately 2.3860¢ in scrap metal.

2021. Now that we know how much “revenue” we can get per penny, we need to figure out how much it would cost to obtain that revenue. In other words: how much does it cost to melt down the penny?

Copper oxide dissolves in a mixture of weak acid and table salt-and vinegar is an acid. You could also clean your pennies with salt and lemon juice or orange juice, because those juices are acids, too.

If we take a look at coinflation (A PCGS app) the copper melt value for ONE COPPER PENNY is $0.03 So if I were to go to the bank and get ONE roll of pennies and there are, lets say 10 copper pennies in there. So 1/5 of the roll is copper.

To put it simply, picking up just one penny or one coin would not impact your life in any way – whether you are Bill Gates or not. On the other hand, watching out for spare change and collecting it over a period of time will surely help you save small amounts of money – sans the need of putting in any effort.

Yes – depending on their age, and the market price of the metals they're made of. The 1p and 2p coins minted before 1992 were 97 per cent copper. In 2006, the soaring price of copper made these coins worth more as scrap than their face value.

For most pennies, those minted in recent years are worth, well, a penny. Most wheat cents (wheat pennies were minted between 1909 and 1956) are worth about 4 to 5 cents. Those in better condition can have double-digit value. Special examples (especially those in near perfect condition) can be worth much more.

Which way is lucky to pick up a penny? ›

The heads of a penny became associated with good, while tails became associated with evil—or came to be seen as being unlucky. Those who ascribe to this belief often will flip over a tails-up penny so that the next person who finds it will find it as heads.

“Different banks have different coin acceptance policies,” Kenneally says. “Some accept rolled coins and some accept loose coins to process through a coin-counting machine. If they have a machine, loose coins are usually preferred.”

If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc and plated with a thin copper coating. For pennies dated 1982, when both copper and zinc cents were made, and best way to determine their composition is to weigh them.

So, your best option is to keep those copper pennies until they get rid of the penny, and sell them then. It will be a nice way to make so money! It might seem not worth it now, but in 2026 you will smile upon the day you started to save copper pennies! Thank you for reading, and good luck coin roll hunting!

The obvious place to sell your old coins is your local coin shop. They will be your best bet for selling low- to mid-range old coins like Wheat cents, Buffalo nickels, junk silver, and scarce silver coins and silver dollars. Check online reviews and feedback for coin stores in your area, and choose a couple to visit.

The Rare 1943 Penny

If your 1943 penny is made out of copper, it is worth quite a bit of money, generally $10,000 or more! The reason is that the 1943 copper penny is an error coin. The United States Mint accidentally used the wrong planchet metal when striking the coin.