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No. There is a federal ban on melting pennies and nickels.
In any case you'd have to sort through all of the pennies to find the ones that
(a) are earlier than 1982 because that's when zinc cents were introduced and
(b) aren't more valuable to a collector than for their copper content.
Then you have to take into account that common copper cents are only worth a fraction more than a penny each so once you filtered out the zinc ones and the valuable ones, you'd be left with a bucket of coins worth only slightly more than face value. By the time you took them to a scrap dealer and they paid you wholesale copper prices, you'd end up losing money or just breaking even.
Wiki User
∙ 14y ago
Wiki User
∙ 13y agoBecause it is against the law to deface any money issued by the Royal Mint/ Government.
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Is it legal to sell copper pennies to scrap dealers for the copper?
no federal offense
Why do some people hoard copper pennies?
The idea is to save copper pennies because their melt value is higher than face value. If the U.S. government eventually makes it legal to melt old pennies, then said hoarders can sell their pennies at a profit.
Can you sell your pennies as copper by weight?
Well, you could... However, pennies are not pure copper. By the time the buyer would melt out the other metal, you probably would not get 1-cent for each penny. I mean, think about it...If copper pennies contained a lot of pure copper, everyone would be taking pick-up trucks full of pennies to sell as copper. But no one does, because it is not pure copper and has little value even after being melted. You'd be better off saving your pennies and buying yourself a CD -- at least the music would give you some enjoyment.
Are war steel pennies worth more than copper pennies?
Yes in that you can actually sell them, but you can get an entire roll of 50 for $7.00 on eBay.
How much is the copper in a pre 1982 penny worth?
As of early 2011 the raw copper is worth a bit more than 2 cents at retail, BUT: > Even if you had a huge hoard of pennies, the cost of melting them plus the fact that you could only sell the metal at wholesale prices would wipe out most of your profit > Melting cents and nickels is currently illegal in the US
How much a US copper 1943 penny worth in 2009?
There are not many 1943 copper pennies known. If it is genuine they sell for well over $100,000.
How much is 130lbs pennys us weight in dollars?
It depends on the year. Before 1982, pennies contained 95% copper and 5% zinc. Those minted after 1982 are 97.5% zinc and 2.5% copper. Today's pennies weigh less. So if the majority of the pennies are after 1982, you would most likely have about 23,586 pennies, which is equal to $235.86 USD. If the majority of the pennies are before 1982, you would most likely have 18,960 pennies, which is equal to $189.60 USD. But then again you can smelt the pennies and sell the copper. I hope this helped you. :)
Can you sell your 1964 pennies?
You can, but they're not worth very much. They're only worth about 2 cents for their copper content.
Is it legal for a creditor to sell an unpaid debt?
Absolutely, this occurs every day. Creditors often sell debt for pennies on the dollar. This is a very big business.
Can you sell pennies for copper?
It's currently illegal in the US and Canada to melt old bronze cents for their copper content. In any case the wholesale price of copper is such that you'd have to melt huge quantities of them to make any kind of profit.
Not silver but a 1942 penny?
All 1942 pennies are made of bronze. In circulated condition they sell for a few cents. However in uncirculated condition, it could sell in a MS state between $5 to $7,500 depending on what MS it is and Which mint produced it.You may be thinking of the famous 1943 Copper penny. in 1943 copper was saved for the war effort which meant pennies were to be made from steel and zinc.A slip up by mint staff meant a few copper blanks were left in the machine and a handful of 1943 COPPER pennies were put into circulation.These coins can fetch up to $400,000 plus!!!
Is it worth collecting copper pennies?
It really depends on the kind of person you are. First off, you need to realize a few things:First, not all pennies are copper, pennies dated before 1982 are all copper, pennies dated 1983 and later are not copper and are only worth half a cent in value. 1982 dated pennies are a mix, some are copper and some are not copper.Secondly, you aren't going to see a huge return, each copper penny is worth about 2 cents or so.Thirdly, a box of pennies ($25 worth) can easily be bought at a bank, they generally average about 25% copper (some areas are more and some are less)Fourth, it is currently illegal to melt down pennies. You can't just take them to the scrap metal dealer. Laws may later be changed, but at this time, you have to sell them to someone who thinks the melt ban will be lifted soon. Because of this, you usually have to discount your coins. Even though they are worth 2 cents, since you can't melt them outright you might have to sell them at 1.5 cents.And lastly, copper pennies are heavy and take up a lot of room for their value.So ask yourself:Do you think that the laws will change in a short period of time to allow you to legally melt your copper to sell it at full price?Are the space costs worth it? Keep in mind that for every $25 (face value) in copper pennies you have, it weighs about 17 pounds.Is it worth the time? You will either have to manually look at every date in a box or invest in a Ryedale or similar sorter (which costs several hundred dollars).If you don't think that the laws will change and its not worth the space and your time, then don't hoard copper pennies. If you think the laws will change or you are ok selling them at a discount and can afford the time and space costs, then it would most likely be beneficial for you.
