We get many inquiries and requests for information on how to sell copper pennies. What we will not do is give away our operational procedures. What we will do is give bits and pieces of advice that may help you decide if selling copper pennies is right for you.
After all, how to do something first stems from if you should do something.
Ever heard of ‘Location, Location, Location’ in terms of real estate? For copper pennies, it is:
‘Price, Price, Price’
If you aren’t sure about pricing, it may be very advantageous to search copper penny auctions and pricing via Ebay. Here is a link to a page on our site with listings which will open a new window in your browser:
Now that you have an idea of pricing possibilities, you simply have to note and accept the following:
Copper pennies are simply not a flat rate. The pricing is sporadic from lows and highs that can yield vast benefits to buyers and sellers if the timing is correct in their favor. Yes, in general, prices are on the rise, however, just like in the metals industry, the price will change with market supply and demand fluctuations.
As a seller, it is critical to remember how pricing and turnover work. Just like in a normal market situation, a seller can simply hold onto their product to wait for higher pricing during fluctuations in pricing. Though this means that the seller is also holding the risk of an opportunity cost loss to already have sold the copper pennies at a lower price to sell more quickly for faster turnover.
This all probably seems quite obvious. But it’s easy to get wrapped up in the idea of something without careful consideration to the risk. Getting involved in selling copper pennies means careful consideration to risk versus reward as far as sell quickly lower price vs seller slower higher price.
The decision is ultimately up to you. Just remember that the last person standing with copper pennies when the penny is eventually eliminated will be the one to gain the most benefit. If your profits now offset that risk of holding for later, sell sell sell. If your ability to sell is not yielding the profits you desire, it may be time to consider holding for a longer time.
Finding yourself torn between selling or holding copper pennies? When in doubt, do both! There’s absolutely no harm (in fact, it’s quite brilliant) to sell copper pennies and convert your profits into holdings.
“It’s one of those things where I think people get attached emotionally to the way things have been,” the president said. “We remember our piggy banks and counting out all the pennies and then taking them and getting a dollar bill or a couple of dollars.”
“This is not going to be a huge savings for government. But anytime we’re spending more money on something that people don’t actually use, that’s an example of something we should probably change,” Obama said. “One of the things that you see chronically in government is it’s very hard to get rid of things that don’t work so that we can then invest in the things that do.”
- Barack Obama, 44th President of the United States
Opinion on Obama’s Penny Speech 2013
Let’s be blunt. Eliminating the penny means admitting that inflation has run rampant and the one-cent, is, essentially and literally, worthless.
The penny is, however, money. Remember that it is still a legal form of currency. So when money becomes worthless, it is an admitting there is a problem with the money system.
Meanwhile, Obama and Bernanke are printing unlimited amounts of money. Buying up bonds and other various things to attempt to stimulate the economy. Eliminating the penny would bring attention to rampant inflation currently going on under Obama’s administration.
This would be a big ‘No No” to do. Therefore, side-stepping the issue is the politically motivated thing to do. And exactly what happened.
In fact, it is important to note that while this article may single out both Obama and Bernanke, this isn’t a political party issue. This is a United States political issue. Meaning, the policies from the mainstream political wings on both sides are manipulated by the financial institutions and their benefactors (think Federal Reserve is neither Federal or a Reserve). This has been going on since the inception of the latest Federal Reserve in the United States one hundred years ago.
The Coin Modernization Act of 2010 has officially announced their findings. So what is the answer?
‘We need more time.’
No news is the absolute best news as it means that we all have a lot more time to capitalize on pennies and nickels before the Government takes them in themselves.
Most intriguing is the part on the one-cent coin:
“At Present, changes to the metals formulation of the one-cent coin would not yield significant cost improvements over the current formulation because the current market price of zinc is competitive with the prices of the credible alternatives, steel and aluminum.”
What solution does this leave? Elimination of the one-cent as the only viable solution.
Buy pennies and buy nickels while you can. If supply drops to zero from a coin denomination elimination, whether you’re a bullion investor or a numismatic coin collector, prices inevitably must go up.
A friendly reminder that the Coin Modernization Act 2010 is to report its findings mid-December 2012. That means, any day now, we could get the update on whether the penny is being eliminated or having a metal composition change. This also goes for the nickel being eliminated or having a change in metal composition.
Most likely, any change in metal composition would be a change to steel. Right now, pennies are made of 97.5% zinc and 2.5% copper. Nickels are 75% copper and 25% nickel. Each costs more than twice its face value to mint.
The Coin Modernization Act of 2010 itself was passed on December 14th, 2010 and was enacted to:
‘provide research and development authority for alternative coinage materials to the Secretary of the Treasury, increase congressional oversight over coin production, and ensure the continuity of certain numismatic items’”
Since its inception, there are many rumors floating around of trials of new compositions for both the penny and nickel, particularly steel. Taking a look at Canada, one can see the penny was made of steel in Canada by the Royal Canadian Mint, and actually eliminated as of this year, 2012.
The Canadian nickel is currently made of a metal composition of 94.5% steel, 3.5% copper, and 2% nickel plating coming in at a weight of 3.95 grams.
So what happens next? Only time will tell. But one thing is certain.
History repeats. The price to buy pennies sky rocketed as soon as the announcement of the Canadian penny elimination came out. Will it happen again in the United States? Perhaps the impending “fiscal cliff” talks will push the change or elimination of the penny and nickel right over the edge. After all, the cost to make the penny is 2.41 cents.
Hindsight may be 20 – 20. But we can all conclude that buying pennies and nickels now creates huge potential gains for you with their respective face value to fall back on.
Buy pennies and buy nickels while you can. If supply drops to zero from a coin denomination elimination, whether you’re a bullion investor or a numismatic coin collector, prices inevitably must go up.
It is illegal to melt copper pennies in the United States. It is also illegal to export them out of the country. We have received a number of requests asking us how to melt copper pennies. This concerns us greatly as when learning and educating about copper pennies, it is important to do so under the guidelines set forth by the laws that govern us.
We believe in freedom and rights of all people. We believe you own your investments and your wealth. However, a crime is a crime. It is currently illegal to melt pennies (and nickels for that matter). So please don’t do it.
Need links to the laws? Visit our U.S. Penny Legislation link below:
All forms of currencies have intrinsic value. This means the actual physical monetary value of the item itself. A penny is made of metal. Therefore, it has metal value based on the metal content. For example, a copper penny is made of 95% copper 5% zinc and weighs approximately 3.11 grams.
This means a copper penny holds 2.9545 grams of copper and 0.1555 grams of zinc. Of course, wear and tear as well as various anomalies can change this figure. But the point to make is that this is a physical tangible value associated with the penny.
Currency Value
A penny also holds a currency value. This value is one-cent or 0.01 of a dollar. The purpose of this value is its trade value and use in a marketplace as a medium of exchange in place of a barter economy. A currency value is very subjective in a global marketplace when incorporating exchange rates and other factors.
It is good to note that currencies like the dollar are heavily devalued due to mass printings of more money into the money system. This means the intrinsic value bolsters compared to the currency value from the impact of inflation.
Numismatic (Collector) Value
Finally, a penny holds coin collector numismatic value. This often has to do with rarities of coins, makes, quantity of units produced, models, years, various errors, and other factors.
Penny Value Conclusions
What’s the point? Simple. You can convert these three value terms into three different values:
Intrinsic = Investment Value
Currency = Back up Value
Numismatic (Collector) = Supply & Demand Value
Metals are useful to society, and have a historic proof of keeping up with inflation at a minimum, often outpacing inflation. What does this mean? Your pennies are devaluing from inflation because of their face value but increasing in value because their metal value is not decreasing with inflation. While everyone else keeps their money in the digital world of banking, you are holding physical value that is increasing at a faster pace than money sitting in a zero percent-to-low-percent interest bank account.
Worst case scenario, you still have currency value to fall back on as a back up plan. If the metal value breaks historical statistics and turns the other way around, you still have a currency value, proving that unlike a bet in the stock market, your pennies won’t reach a value of zero.
Finally, pennies will be eliminated from circulation at some point. Every country has done it but the United States. Therefore, once it happens, the total quantity of pennies in circulation will drastically be reduced. Demand, however, for coin collectors will almost certainly stay the same. As a result: Supply drops. Demand holds steady. Value goes up.
That sums up the three multi-values of the pennies. Thoughts? Feel welcome to leave a comment below.
Canadian penny stockpilers have huge advantages over others for their stockpiling of Canadian copper pennies. Why? Because Canadian copper pennies yield a higher copper value than their face value – over 2x as much! – and Canada has officially announced they are eliminating the penny as an ongoing form of currency in Canada (Read more: Canada Eliminates Penny).
Why is this a big deal? Because a $50 face value (as of the date of this article) holds a weight of approximately 34 pounds and is worth in copper value $120. Every Canadian copper penny holds a value of about 2.4 cents each in copper.
Here’s the catch. It is still illegal to melt the Canadian copper pennies. Why? Because the Royal Canadian Mint is pulling copper pennies out of circulation. Their hope is Canadians holding onto their pennies will deposit them to the bank, which eventually end up back at the Mint so they can profit.
Is this fair? That’s up to you to decide. The point is simple:
Buy Canadian Copper Pennies: Ebay
Keep your Canadian copper pennies. If you don’t have any, you may wish to buy Canadian copper pennies. Here is a list of Ebay auctions you can explore for buying copper pennies from Canada:
Buy Canadian Pennies: Ebay
Don’t forget the basics of supply and demand. There is demand via coin collectors for Canadian pennies. Therefore, even the zinc Canadian pennies and steel Canadian pennies hold numismatic value! Since supply for these little one cent pennies is about to hit zero (meaning no more will be minted in Canada), you may wish to pick up all Canadian pennies. Here is a list of Ebay auctions you can explore for buying Canadian pennies in general:
Melt Canadian Pennies: Not Yet
Of course, we are not advocating melting Canadian pennies. We are, in fact, saying you should not melt pennies and should not do anything illegal. However, there is absolutely nothing wrong with hoarding Canadian pennies. Once the pennies in Canada have been pulled out of circulation and the melt law surrounding them becomes irrelevant, the laws pertaining to melting pennies is largely thought to be done away with at that point, giving you the ability to cash in big.
What’s so special about these coin bags full of newer zinc pennies? It’s about perspective and experience. To some, these are worthless trinkets because of their metal zinc content. Sort out the older coins and deposit these for face value.
But is this an accurate assessment? To a Lincoln Cent Collector, the adage of trash to treasure is a close to home truth. While the bullion investors avoid these pennies considering them one-cent trash, the collector finds all sorts of intriguing numismatic value.
Why do these newer pennies have such great possibilities? The newer the coin, the less hands have touched it, the fewer eyes that analyzed it, and greater possibility that the rarer pennies are out there to be found. Not only that, but newer pennies have a greater chance to be plucked from circulation at near pristine, if not mint state, condition.
So while some look only for older dates, Lincoln Wheat Cents, and copper bullion, there are many out there with the commendable experience to analyze and pick out the valuable little Lincoln treasures that others merely toss about as one cent coins.
Take the time to learn about these little one-cent treasures before they disappear into the abyss of inflation.
Copper Punchings from post-USA manufacturing use usually get sent to refineries to be re-processed into pure copper bars. Why does this happen?
Copper bars sell for more than the copper punchings. Interestingly enough, copper punchings yield a great way to diversify your copper investments into more manageable, smaller pieces suitable for low-value barter trades.
Regardless of your reasoning for an interest in copper punchings, the key is to buy quality for cheap. After all, .999 copper is .999 copper regardless of its form.
If you need bars for practical industrial use, that’s the way to go. But if you’re simply looking to hold onto copper for investment purposes, punchings may be a unique and innovative solution for you by intercepting the punchings post-use but pre-refinery.
This is the 1943 penny you will see. The steel penny of 1943 is made primarily out of steel with a zinc coating. But why was steel used this year? The answer is unfortunate: War.
During World War II, copper was in such demand for tank shells and ammunition that pennies were made of steel this year. But this is not why most people search for information on the 1943 penny. The real find is actually copper 1943 pennies.
According to the ANA (American Numismatic Association), there are 40 known 1943 copper alloy pennies in existence. Speculation is these exist due to left over copper blanks still in the minting machinery.
Copper pennies are worth more in metal value than their face value and are worth collecting in large amounts for investing in copper pennies. See what people are paying for copper pennies.
But this particular penny is so elusive it trades much higher in value due to its coin collector value. Think you have a 1943 copper penny? The best first test is with a magnet. If it sticks to the magnet, it’s probably a counterfeit as it is most likely made of steel. Be careful not to risk causing damage to your coin if you think it is a legit copy. Even the slightest “ding” can reduce value.
Another very highly sought after penny is known as the “1909 VDB” penny which, if it came from the San Francisco mint, is even more of a treasured prize.
Click the above link to automatically search Ebay for all auctions relating to copper pennies.
Or go through the below direct links:
Why Third Party Ads
Third Party-based sponsored advertisements are utilized so you can see alternative pricing choices not regulated by us for complete transparency and market freedom.
Low-risk investing is wise for any long-term investor looking to have gains while preserving wealth. Nickels offer a great solution for low-risk tangible investing.
How to Make Money off of Copper Pennies
Ebay and Copper Pennies
The Three Multi-Values of Pennies
Avoid Short-Term Copper Futures Risk
Copper Penny Sorting versus Copper Penny Buying
Invest in Copper Below Market Price
How Much Does Copper Sell For 2012
Buy Canadian Copper Pennies – Before it’s too late!
Sell Brilliant Uncirculated Pennies
1943 Penny
