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.
Old copper pennies minted before 1864 actually contain 88-100% copper. And newer coins from 1864-1982 contained a remarkable 95% copper purity. While some of these old coins are worth quite a bit of money, many are valued primarily for their copper content.
If you want a penny that's 95% copper, you need to look for dated 1982 or older coins. The zinc pennies aren't nearly as valuable. Some copper pennies are going for as much as $2 apiece. Buying pennies is more affordable than buying gold, and they can be a little easier to store.
Now, there is a completely different reason to collect pennies. Over the last few years, the market for copper has skyrocketed. Just last January, the market peaked at $3.649 per pound. At 146 pennies to a pound, a single penny's copper has a value of about 2.5 cents.
If ALL the cents in the 5 lb bag are dated 1983 or later, then you would have ~ $9.08. Each cent is comprised of 97.5% zinc and weighs 2.500 grams. If ALL the cents in the 5 lb bag are dated 1982 or earlier, then you would have ~ $7.30. Each cent is comprised of 95% copper and weighs 3.11 grams.
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.
Yes, the coin is worth just five cents, but the metal it contains—75 percent copper and 25 percent nickel—has long been worth more than that. According to Coinflation.com, a website that tracks the value of the metals in coins, the “melt value” of a single nickel currently stands at eight cents.
Although it is currently illegal to melt down pennies for their copper content, market conditions and regulations may shift. Always stay informed about the legalities to avoid any complications in the future.
Today, however, many people walk right past pennies because they don't believe it is worth their time or effort to stop and pick it up. That is because today a penny is worth almost nothing. In fact, it takes the average U.S. worker less than two seconds to earn a penny in wages.
When certified grading came into use in the mid 1980s though, the practice of cleaning coins diminished over time. Most coin experts have since come out against cleaning coins, as doing so can negatively affect them both in grade and value.
The 1982 penny is valuable because it was a transitional year when the U.S. Mint switched from copper to zinc, leading to a mix of compositions and errors.
Some Allrecipes members serve their copper pennies with steak or over greens as a salad dressing. The dish can be enjoyed hot or cold, highlighting its versatility. TikTok and country singer Hannah Dasher shared her version of copper pennies on the platform, calling the dish “one of my grandma's favorite recipes.”
If it's in a clean condition, it's still worth $2. If it's uncirculated and graded, it could sell for $50. However, keep in mind that getting a coin graded in today's market will cost you between $20 and $40.
For instance, if the price of copper is $4.00 per pound, then the value of the copper in a single penny can be approximately $0.025, or 2.5 cents. This means that, in terms of metal content, copper pennies are indeed worth more than their face value.
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.
In general, 1964 nickels are worth roughly their face value in average condition. However, some specimens in the best condition can sell for between $500 and $15,000.
If you have a nickel with a buffalo on it you may have more than five cents. Many buffalo nickels can be traded for about 50 cents but under the right conditions it could be worth over $1,000, according to coin collector David Sorrick at In God We Trust LLC.
If you ever thought to discard the loose pennies in your coin purse, hold off. You could be throwing away thousands of dollars. According to Cointrackers.com, certain pennies that were minted in 1943 and 1944 top the list of the 25 most valuable pennies for coin collectors in 2023.
Sell them on Craigslist or Ebay.
Some of them believe these stashes will be an asset when the economy collapses, some are waiting for federal laws to change to allow the melting of coins for recycling, and some of them just like old coins, but most will pay high dollar for small to moderate quantities of old pennies.
According to the U.S. Mint, the metal composition of the cent, also known as a penny, was pure copper from 1793 until 1837. The Mint offers a brief chronology on the shift in composition over time. “From 1937 to 1857 the cent was made of bronze (95 percent copper, and five percent tin and zinc).
Next on the list is #2 Copper. It's not as pure as #1 Copper, but it's still valuable. This type of copper may have some coatings, alloys, or small amounts of impurities, which make it slightly less desirable for recycling compared to #1 Copper.
About 3 rolls of copper cents makes a pound. With copper at $4 per pound, a dollar per roll is ¾ of melt value. And it actually is legal to melt pennies and nickels, just not to sell the metal. But otherwise, you can still use the metal for your own personal projects and crafts.