Many investors who buy gold and silver bullion coins and coin collectors who have studied coins probably did not think of making a valuable profit by collecting copper coins. You have probably heard that “a penny saved is a penny earned” because a low penny is equal to one cent. Did you know that while most coins have a small face value, all copper coins have twice the face value?
Coins minted in 1909-1982 were made of 95% copper and 5% zinc. You may not think that copper is worth much money, but it is an extremely important metal. Copper is widely used in industry, especially in electricity, construction, transport and many other fields. Therefore, copper is quite good, because it is also the best conductor of electricity, does not stain and is soft. To find the melting value of copper, we need to know that a kilo of copper is currently $ 3.12. 154 copper cents is equal to one pound. Thus dividing 3.12 by 154 is about 2 cents per penny.
Since each copper penny costs 2 cents, it can be a small investment. The more copper coins you have, the more you invest. So how do you get another copper penny for face value? First, you can find coins before 1982 or buy rolls from banks by examining your daily change.
In addition to the fact that each copper cent is twice as valuable, the numismatic value is also important. The date and terms of each coin can be valued more by your coin collector in a way that a coin collector will examine. But you don’t necessarily need the knowledge of an experienced coin collector. Many rolls contain old “wheat” cents cut before the modern Lincoln cent (1959 – now). It’s easy to find a grain of wheat – look at the dates minted between 1909 and 1959 and the back where the words “ONE CENT” are placed between two grains of wheat.
Depending on the situation, wheat cents are more rare and valuable. The better the situation, the more valuable it will be. When I hunt rolls, I find wheat cents in a generally “good” and “very good” condition. They can get a price of 10-15 cents on eBay. It is not uncommon to find many old wheat cents and copper Lincoln / Memorials in a box of 50 rolls. For better information on terms and prices, I would go online and look for “the value of a penny per year” or “what is the value of a coin.” You can also buy the latest “Official Red Book: A Guide to US Coins” available in bookstores or on Amazon.com.
The penny you buy from the bank has 25 kopecks in 50 rolls of 25 kopecks. If you don’t want to go through each roll and examine each one one by one, you can buy a copper coin separator that allows you to separate the copper from the sinks. If you’re not in a hurry to separate them, you can buy a basic EZ Copper Penny Sorter for $ 30 to $ 60. You’ll need the Ryedale Apprentice Penny Sorter, which sells for $ 500, to sort a lot of coins quickly.
One of the reasons for collecting copper coins is that it will be legal to melt them in bars when Nana takes them out of circulation. Instead of grabbing giant jars or boxes that can hold hundreds or even thousands of cents, it is more manageable to put the bars aside.
The amazing advantage of buying revolving coins is that you will not get more money than you pay. You will not spend almost a penny, because you get all the coins at face value. You will find not only many copper coins, but also old wheat coins that add value.