Future value of copper pennies???

[clarklsn2001]

Does anyone have any idea what the value of copper pennies could be in the future? Please share your opinions and why you think they will become soo valubable. I personally hoard them for many reasons. The main reason i hoard them is bc of greshams law. When supply goes down price goes up, basic economics. I honestly believe all these governments are going to have to keep printing money in order to pay their own bills which will lead to hyperinflation down the road. Another big reason I hoard them is I know one day the government will actually allow us to melt them. You got to think a big war will be coming with all these debt issues between countries. War means more guns and ammo, which means more copper supply needed. One easy way the US could get copper would be to allow the melting these copper pennies, just a hunch. I would like to know everyones thoughts on way they hoard and how much they think one day they will be able to get for them. Look forward to hearing some good responses.

[creshka46]

Well, I can't say much for how high the price may go. But the big thing I'm waiting for is when it becomes legal to melt them, at that point they will instantly become much more valuable and much more liquid. I would expect that to happen within 10 years maybe. At that point I could see them at a melt value of 3x or 4x face value. I think that it's more likely that the penny is discontinued than the war scenario IMHO. When that happens, depending on the price and other factors, I may just go right down to my local scrap yard and cash in.

[Computer Jones]

Look on the back, they're only worth "One Cent"!

On the other hand, they might just be worth what somebody is willing to trade, be it paper FRN's, eggs or lead encased in a brass jacket with a small explosive charge in between.

The bottom line is read some history books and let the neurons fire...

If i knew any more I'd be picking the winning Lotto numbers.

PS - I'm holding onto all the 95% Cu disks I can find.
If they don't do me any good, maybe my Grandchildren might find them useful.

[tractorman]

Awww ... who knows? Don't we all wish we could go back to 1978 and save silver? Maybe it will be like that? At worst I figure it will be like pulling wheats in the 60s and 70s.

[tractorman]

I guess what I'm saying is that I always look long-term ... to a fault.

[joemac]

That 1978 silver comment is kind of where my train of thought leads as well. And btw I believe Greshams law states that the bad money will chase the good money out of circulation. Supply and demand is a different concept completely.

I also wish I was able to buy junk silver at face. So my thoughts are, what's the next thing. Copper pennies make sense to me. They have a true store of value and may be the preferred trading mechanism when the dollar crashes. Lets face it, it will be within most of our lifetimes.

I'm hoping they go to 10x face. With India and China starting to gain foothold in consumer electronics they will need to have conductors.

I never though about the war scenario, thats and interesting take on it.

Here are the three that I have come up with. One is that they discontinue the penny completely. Second is that the dollar fails, and we real money proponents know it will. Thirdly they switch to steel or some other cheap metal and simply lift the ban.

I read in my economics textbook last week that there are ideas to simply raise the value of a penny to .05 just like the nickel. That would be an automatic 5x increase in value.

[maoguinn]

I read in my economics textbook last week that there are ideas to simply raise the value of a penny to .05 just like the nickel. That would be an automatic 5x increase in value.

If that is the case, then it would make sense to hoard zincs as well.

[mtalbot_ca]

I do not care so much aabout the future value, as I sort copper and nickel mainly for my grand children.

I want to leave my family a ''metal'' estate that could probably be used, for many different, and still unknown purposes, in 50-60 years. In the meantime, it is still money.

Cheers,

[joemac]

I read in my economics textbook last week that there are ideas to simply raise the value of a penny to .05 just like the nickel. That would be an automatic 5x increase in value.

If that is the case, then it would make sense to hoard zincs as well.

Very true

[Copper_Baron]

First, it is based on the value of copper per pound/ton. Right now we all do this because we see an arbitrage situation, and, we are "willing" to go through the logistics of buying pennies, sorting, returning, etc. It is not a big enough spread as of yet for the masses to get involved. However, there is a small and active market (with CU at $3.50) for buying and selling copper pennies (Ebay for example). It will simply become a bigger and bigger market when and if the price of copper gets higher.

Second, as in any market (commodities, stock, currency) government and/or exchange policy can play a roll. As mentioned on this thread by posters, melt policy and elimination of the penny legislation can play a roll. However, there needs to be more compelling factors than I see out there right now for government legislation.

Therefore, I honestly feel that until there are more compelling factors for goverment legislation, it's all based on price. And if you see the price of CU start to hit $6 or $7 a pound, you will see that Ebay market become more active. Supply will also be less as more people will be "willing" to hoard because it will be worth their time. And the banks will catch on and put in policies, ramping up activity on places like Ebay even more.

[Common Cents]

At some point the selling of CU pennies will expand beyond the realm of e-bay and other internet venues, and into the real world of coin stores. I'd bet that when melt value gets to .05 per penny, the coin dealers will get into the picture. I have stated repeatedly on this site that I think people are making far too much out of the melt ban being lifted as a catalyst for CU penny prices. They have value as trade units, so there's no glaring need to melt them. The melt ban will not be lifted until the percentage of CU pennies in circulation is next to nothing. The government will, at some point, begin to reclaim the copper pennies out of circulation. They will replace the CU pennies they remove with pennies made of an even cheaper alloy than the zinc ones, such as a steel alloy of some sort. So we're a long way from having the melt ban lifted. I predict that a robust trade will evolve long before the melt ban is lifted.

The nations of the world are now faced with a competition to devalue their currencies in order to be able to be players in the export markets. This will result in huge nominal price gains for all essential commodities. The price of copper will shoot into the double digits per pound as this process plays out. The dollar will continue to lose purchasing power, and more and more people will look to acquire metal in order to halt the slide of their purchasing power. As the more precious metals such as gold and silver start to reach stratospheric price levels, there will be increased demand for more affordable options such as copper. We are way ahead of the public curve here on this site, but once the copper price starts to really respond to the currency devaluation taking place around the world, the rest of the world will rapidly start to jump in, and the 'window' will shut much faster than many realize.

[VWBEAMER]

Silver was cheap in the 90's no reason to go back to 1978, unless you was planning to sell it in 81.

[tractorman]

Silver was cheap in the 90's no reason to go back to 1978, unless you was planning to sell it in 81.

I meant to say I'd like to go back to 1978 (or any other point in time prior to the Hunt Brothers and the great melt) and search rolls for silver 90%. Can you imagine? I was trying to draw a parallel with cents, thinking we are that early in the pre-82 copper game. I'm thinking if I don't save them now, I might regret it later.

I know the 90s well. I paid $55 for a 10oz RCM bar in the summer of 1993. I thought it was ridiculous, silver had been $3.75 an ounce for years and had leaped to $5, so I didn't buy any more silver the rest of the decade. I try to learn from my mistakes so I'm saving copper cents now. Not for immediate profit, but because I think the future will be very bright for them. No way would I sell mine in the near future.

[50centsaver]

I am new to this forum. Very interesting info and opinions.

Say I sell copper pennies on ebay today, doesn't shipping cost for the heavy cents wipe out most of the profit?

Also, I am wondering if people may be already illegally melting pre 1982 pennies for profit?

[baggerman]

I am new to this forum. Very interesting info and opinions.

Say I sell copper pennies on ebay today, doesn't shipping cost for the heavy cents wipe out most of the profit?

Also, I am wondering if people may be already illegally melting pre 1982 pennies for profit?

Buyer on Ebay pays for shipping and yea I would bet there are pennies getting melted just by the number of burnt pennies I come across is my searching.

[rickygee]

I am new to this forum. Very interesting info and opinions.

yea I would bet there are pennies getting melted just by the number of burnt pennies I come across is my searching.

Nah, who wants to run afoul of the Secret Service, the agency in charge of protecting the integrity of the US currency.

[50centsaver]

I have saved some pre 1982 pennies, about $70 worth. I know they'll always be worth at least one cent, but sometimes question whether I am wasting my time or not searching for them?

Here is one opinion from the Chicago Tribune: http://articles.chicagotribune.com/1990 ... coins-dime

Again, it is only one opinion.

I'm also wondering if you do think it is worth it, if anyone has a guess when it may be legal to melt them?

[jasmatk]

I see 5x face as a possibility in the next 3-4 years.

I here you all talking about the melt ban and when it gets lifted,I think they are worth more as pennies you know what the metal content is plus they are coins .I think pennies will be the same as 90% bought in rolls for a facexx value.Two things are going to have to happen first the price of copper needs to at least double,secondlly more people need to learn about copper pennies and there value.and I know your thinking but we sell and buy pennies right now.Im talking about them being sold right along side silver coins in every coin shop.when this will happen your guess is as good as mine.I mean look at how many people still have no clue about silver coins could take awile

[Dave]

The article from The chicago tribune is from 1990, Cu was @ $1.25/ lb, so it wasn't worth it then to some people. I'm still sorting pennies because I'm addicted and can't stop.

[Cu Later]

@jasmatk - agreed. im sure as hell not running my pre- 64 to the scrap or smelter.