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Are pennies worth hoarding?
- Thread starter DrPepper
- Start date
You can't eat pennies
Question: Is My Penny a Copper or a Zinc Cent?
Answer:
If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc and plated with a thin copper coating.
Answer:
If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc and plated with a thin copper coating.
Sometime in the 1980s the gummit took the copper out of the penny. They are now only copper plated...:eek:
I remember in the early to mid 80's some banks paying $1.10-$1.20 for $1.00 us pennies. Even recently the zinc content was worth more than $.01 us. Even if it was legal, by the time you scrap and refine it your margins are very slim at best. Get a metal detector and comb the beaches and parks for lower hanging fruit.
Drpepper, you might find the following site of use:
http://www.coinflation.com/
1904 to 1982 pennies now contain metal worth about 1.01503 cents
http://www.coinflation.com/
1904 to 1982 pennies now contain metal worth about 1.01503 cents
Quote from DrPepper:
Everyone is trying to get gold and silver, but what about saving pennies? I read that the amount of copper in a penny is worth more than a penny. In an economic collapse, would pennies be considered a valuable means of monetary exchange like silver and gold?