Copper Penny Hoarders
Copper Penny Hoarding is a growing hobby. In fact, no longer is it a hobby, but an investment.
Many people think back to 1964 when silver coins were last minted and started to become minted in a clad or copper-based metal composition.
At the time, silver just began becoming worth more than the face value of the coins. Many people held onto these silver coins expecting them to rise in value due to their silver content. They were right.
What is copper penny hoarding
Copper penny hoarding is the act of collecting U.S. pennies dated 1982 and older made of copper. This is done because a copper penny is made of 95% copper and 5% zinc. The penny’s weight of copper far outweighs the face value of the copper penny, making it an ideal copper investment. Some people collect a few hundred dollars here and there. Others are stacking $50 bags upon $50 bags, filling rooms from floor to ceiling.
Copper is not very expensive per pound yet. This means that an investor can really buy up copper on the open market cheap. Since it’s illegal to melt pennies in the United States, you can buy copper pennies under copper price.
Melt Copper Pennies: Not quite yet
It’s illegal to melt pennies and nickels in the United States. Why? Because the government knows there is serious value in these coins. As a result you can’t
quite turn your copper pennies into scrap like the photo. In fact, you’d be better off keeping them in penny form. This is because a penny is easily recognized by the global market for its guaranteed 95% copper purity. Like other coins of silver and gold, coins sold for metal value tend to fetch a higher premium due to their ease of recognition and potential numismatic value.
So it may be illegal to melt but it certainly is legal to hoard. Patience is a virtue. And to those that have patience hoarding copper pennies, may just have that virtue pay out big.
Copper Pennies… Tons Hoarded
Skip the baby steps and jump all in. That’s the mentality many have about taking advantage of the cheap copper penny prices right now. It’s very widely believed and anticipated that copper penny trade prices will rise dramatically once word gets around laws could change. People are buying up copper pennies by the ton.
If storage is an issue, you can always opt for insured storage options.
The key is to do your research and actually start. You can see pricing for copper pennies here: Invest in Copper Pennies.
Want to read more about copper pennies and the benefits of hoarding copper pennies? Here’s a few articles you can read:
How to Make Money off of Copper Penny Hoarding
Questions? Contact us. We’d be happy to help answer any questions you may have.