Copper pennies have become the most loved and most valued collectible of all the United States of America. These shiny copper coins have been around since 1793, and are still being made today.
Though only 2.5% of the country’s circulating coinage is made from this material, these copper pieces are worth a great deal more.
Many collectors buy these pennies with the intent to melt them down, but others keep them in their wallets or keep them in their collections as a reminder of the time when America was great, wealthy, and powerful.
Can You sell copper pennies?
Yes, Copper Pennies are legal tender in the United States. They can be spent as money today, just like paper currency.
Valuing copper pennies is a topic that is debated among many coin collectors and people who deal with rare coins. The value of a copper penny can range anywhere from $0.01 to $10 depending on the specific date, mint mark, and condition of the coin.
If the penny is considered an extremely rare date, perhaps a copper penny can be worth more than a silver coin with a similar year. Copper pennies are actually used in the United States today just like they were in past years.
The copper pennies that are still around today are worth something due to appreciation of their metal content over time. They were not worth anything when they were first created over 150 years ago; throughout history, the value of copper has changed quite a bit.
In recent history, during 1853 to 1900, copper was valued at $0.25 per pound. By 1933 to 1943, the price of copper was valued at $1 per pound. In the 1970’s, copper was worth $0.50 per pound and in 2008, copper had reached $4.00 per pound of copper.
Most people do not realize that it is actually illegal to melt a penny down in the United States today. The only way to melt down pennies is if they are made up of 95% zinc and 5% copper, since they are mainly worth their zinc content at this point.
Pennies are often exported to other countries where it is legal to sell them for scrap (in many countries) or melting (some countries). However, even then, it can be difficult to get rid of pennies due to their weight and their shape.
In some places, a $1.00 coin weighs over 1,000 pounds and the shape of a penny does not match other foreign currency. New penny designs have been made in recent years to help alleviate the issue of pennies being worth less than they should be in value.
Copper has many qualities that make it a great metal to use when creating coins. Its unique properties make it much less likely to corrode compared to other metals, such as silver and gold, since copper is more inert than other metals.
The composition of copper is 60% copper and 40% zinc, which makes copper much easier to recycle than other metals.
In addition to its unique qualities, copper is also widely recyclable due to the way it is used in other industries. Copper is used in the production of high-grade electrical wiring, plumbing, and piping as well as in medicine and dental products.
The uses for copper in society are too many to list. Copper pennies have been part of American culture for over 150 years, so their value has fluctuated quite a bit throughout history. Methods of valuation were not made very clear as copper pennies were first made over 150 years ago and the values that they are now connected with have changed throughout that time span.
How much is a copper penny worth?
How Much are Copper Pennies Worth?, VALUING A PENNY Copper pennies are collectible coins, but how much is a copper penny worth? This question is asked quite often.
There are many different ways to judge the value of a copper penny, and you may find that the market value can vary by hundreds of dollars per coin. The price of copper pennies is usually measured by its weight in percentage terms.
A penny made from 95% copper and 5% zinc has almost no scrap value, while a penny made from 98% copper and 2% tin may be worth over 10 times as much as the zinc-copper variety. on average a penny copper is worth around $0.01 – $10 the are a lot of factors that come into play when it comes to copper pennies.
You might find pennies from the 1859 to 1909 period in your pocket change or old coins in an old collection. If you are looking for the value of limited edition collector’s sets, such as the 1909 Lincoln penny or the 1943 copper penny, you will need to use a database or price guide to help you.
Here, we take a look at what makes a copper penny worth more than its face value. The first and most obvious factor is age. The older your coin is, the more it will be worth. This rule applies to all collectible items; if it is old enough, it can be deemed valuable by collectors who also want it as part of their collections.
The quality of the coin is also important, as some copper pennies have been struck relatively recently in the past. If you find a penny that is made with a low percentage of copper, it will be worth much more than one made with a high percentage. Likewise, if you find a penny minted in 1979, you will find that it should be worth far more than one minted in 1950 or 1957.
What to do with copper pennies?
When you receive copper pennies, the first thing that you should do is to look at them. Are they in good condition? Some of them have been damaged during their production process and may not be worth as much as others.
You can also check the surface of the coin using a magnifying glass. If you notice any discoloration or scratches, then it is a good idea to take the penny back to the bank or just leave it in a safe place.
If you decide that you want to keep your copper penny, now is a good time to put it in an envelope and store it as long as possible. This will help prevent any further damage from occurring.
The second thing that you should do is to identify the coin and then look for its value in a coin guide or database. You can look online to find the value of copper pennies, or check your favorite numismatic books and publications.
If you are not sure about how much your copper penny is worth, take it to a coin store or vintage dealer. They will be able to tell you whether or not it is rare, as well as what its estimated market value should be. You can also sell your limited edition coins on eBay if you are looking for an easy way to put them up for sale.
Can copper pennies be sold for scrap?
“Copper pennies can be sold for scrap. Scrapyards, however, may not accept them — they don’t want to get stuck with a bunch of worthless pennies.
It’s usually easiest to collect copper pennies and convert them into copper bullion at home. Each copper penny contains 3.11 grams of copper, which is worth about $0.12 at current prices.
That means the copper in 100 new pennies is worth about $12 — not a bad haul for something you can pick up off the street or even find in your spare change jar! To cash out, you’ll need to sort your pennies by date and melt them down into an ingot. At that point it’s easy to sell the metal as bullion, either locally or on eBay.”
Does anybody buy copper pennies?
Sure, but it’s probably not worth your time.
The copper in one penny is only worth 2.5 cents, and most people have a hard time finding enough of them to make collecting them worthwhile. However, there are some people out there who collect “wheat” pennies and other old coins as a hobby or an investment.
In the near future, the price of copper may go up as demand rises and supply stays roughly the same. That would make pennies worth more money, but they would also become more expensive to make. In that case, the U.S. government might stop making pennies completely.
Its a wrap
The old saying—that you can’t get something for nothing—is unquestionably true. In this particular case, however, it is entirely possible to sell copper pennies for a profit. You may need to buy or borrow some items to get started, but they will end up paying for themselves in the long term. Copper pennies are a relic from a bygone time and if you approach them with the right strategy, you can make a profit on them.
Julie comes from a long line of metal detectors. Her family has been in the hobby for over 45 years and has recovered large amounts of civil war artifacts as well as a fair number of bottle caps. Lately she has been focusing on metal detecting in the Rocky Mountains.