Author Topic: Cents double as copper bullion  (Read 1207 times)

Offline Juliana_27

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Cents double as copper bullion
« on: December 12, 2012, 09:41:55 PM »
One can find several uses for pennies, besides as currency. They could be used in art projects and so on, but there are not too many techniques where one can make cash. However, one can if they sell pennies as copper bullion, as they can double in value when used thusly.


Copper use rather



The material used to make a cent is value more than a penny, which means that not only are they are annoying but they are also not value it. They are always in the most annoying spots in your house and never actually get used.



Heck, Canada eliminated theirs.



Daily Finance pointed out that you can use pennies as copper bullion if you cannot come up with another idea. It seems like it would be better just to melt them down and sell them, but it has been illegal to do that since 2006, according to the Portland Mint.



Value of the current penny



It is actually a good idea to hold cents as copper bullion considering every little thing. In fact, a penny is value 2.5 cents in value for the zinc and copper in it even though it is only worth one cent in currency.



The modern cent is comprised of 97.5 percent zinc and 2.5 percent copper, after being changed in 1982. Prior to that year, the composition was 95 percent copper and 5 percent zinc. If an individual were to melt a modern cent, the value of the metals would have a “melt value,” or the amount of money the metals are value if one were to melt them down, of roughly one-half of one cent. A 1981 or previous cent has a melt value of two cents, double the face value of the coin.



However, since melting them is illegal, people have been selling bags of them, as Daily Finance points out, as unofficial bullion.



Never a bad idea



Everyone who wants to try and make that sort of investment can generally pay about $2 to $3 per pound of pennies on eBay if they want. In fact, one person paid $1,500 for $1,000 worth of cents. The idea is that you can melt them down but not quite yet. That means you will pay less than melt value but more than face value for the coins.



As the Portland Mint points out, pennies as copper bullion is one of the safest investments there are since, by definition, they have a price floor of one cent. No matter what, they will never be worth less than that.




 

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