Are pennies worth hoarding?

Discussion in 'Metal Futures' started by DrPepper, Feb 16, 2009.

  1. Everyone is trying to get gold and silver, but what about saving pennies? I read that the amount of copper in a penny is worth more than a penny. In an economic collapse, would pennies be considered a valuable means of monetary exchange like silver and gold?
     
  2. You can't eat pennies
     
  3. Question: Is My Penny a Copper or a Zinc Cent?

    Answer:
    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.
     
  4. Sometime in the 1980s the gummit took the copper out of the penny. They are now only copper plated...:eek:
     
  5. I remember in the early to mid 80's some banks paying $1.10-$1.20 for $1.00 us pennies. Even recently the zinc content was worth more than $.01 us. Even if it was legal, by the time you scrap and refine it your margins are very slim at best. Get a metal detector and comb the beaches and parks for lower hanging fruit.
     
  6. rluser

    rluser

    I think I'd horde wire and copper pipe before pennies.
     
  7. kxvid

    kxvid

    Yes. Even more so in a few years, but pre 1986 pennies are rapidly disappearing from circulation.
     
  8. m22au

    m22au

    Drpepper, you might find the following site of use:

    http://www.coinflation.com/

    1904 to 1982 pennies now contain metal worth about 1.01503 cents