Did you ever wish you had saved silver coins back when?
Now might be the time to check your old pennies. The copper is now worth double the one penny.
145 pennies in a pound and about $3.20 a pound now. The only problem is that it is illegal to scrap them. If you wait, that could change. You could smuggle them into Canada or Mexico. Some people are selling rolls of copper pennies on Craigslist at a premium. But, if the price keeps going up, the laws may change as manufacturers need more copper.
I kind of wish they would just do away with them.
I forgot to add; Look for pre 1982 ones, after 1982 they are mostly zinc.
Timewas
(2,294 posts)About 1965 or so could buy double eagles for $75 one ounce of gold...was worth $35 then .
multigraincracker
(34,126 posts)silver coins up to $50 for $1.00 face for silver coins. Close to $20. now.
Enter stage left
(3,825 posts)Canada did years ago. Prices get rounded up or down. Nobody complains.
Also, why does the US insist on using paper for our currency when Canada, Australia & many other countries have transitioned to better materials for their folding currency?
Get with the times US!
multigraincracker
(34,126 posts)tax.
Enter stage left
(3,825 posts)it is a difference of 2 cents in either case.
dem4decades
(11,937 posts)But cashed them out a few years ago. I do have my father's coin collection, mostly pennies, liberty dimes and buffalo nickels. Haven't really looked at them.
multigraincracker
(34,126 posts)common ones have stayed the same. Stamps have gone down as few young people are interested.
Timewas
(2,294 posts)Had a lot of them too , but had to sell out,Still have some indian heads and steel pennies.
Kablooie
(18,784 posts)It was $200 then.
It's $57,000.00 now.
The problem is that it's not easy to turn it into money.
But it's nice to know its there, I guess.
multigraincracker
(34,126 posts)doc03
(36,766 posts)money? I see a bitcoin ATM at the mall it looks like it isn't that difficult.
Kablooie
(18,784 posts)They charge huge fees and then give you a terrible exchange rate.
You also have to give them personal info they can sell to scammers.
doc03
(36,766 posts)Kablooie
(18,784 posts)When I first got it a I bought a $20 computer program and is was a real hassle.
I never found anything else to buy and it was a confusing mess trying to use it.
They say it's worth a lot now but it's not money I can really use.
It's fun to think about though. ( Wow! I have $50,000! )
doc03
(36,766 posts)like we had for the Savings and Loans, .coms and 2008 crash.
samplegirl
(12,108 posts)of pennies!
multigraincracker
(34,126 posts)no_hypocrisy
(48,936 posts)Most of the more vintage pennies have been taken out of circulation.
However, I found a nice cache of old pennies (1929, 1930s, 1940s) that I mindlessly collected as a kid.
multigraincracker
(34,126 posts)I'd need a jewelers loupe.
Ferrets are Cool
(21,961 posts)csziggy
(34,189 posts)He'd go through his change every night and sort out the silver ones. We found two sacks of silver coins in the safe when he died. They are not worth much as collectibles, because they are not in great shape on average. We split them up among Dad's children and my husband, who collects coins went through them. I'm keeping the rest just as a memento.