How to Make Money Collecting Copper Pennies

Many investors UN agency purchase gold and silver bullion coins and coin collectors UN agency study coins, have in all probability ne'er thought-about grouping copper pennies to create a worthy profit. you have in all probability detected "a penny saved could be a penny attained," as a result of the lowly penny is price one cent. whereas most pennies ar price a meager face worth, did you recognize that every one copper pennies ar price double their face value?

Pennies minted from 1909 to 1982 were fabricated from ninety fifth copper, and five-hitter metallic element. you would possibly not think about copper as price abundant monetarily, however it's a very necessary metal. Copper is wide utilized in trade, particularly in electrical, construction, transport, and plenty of others areas. this can be why copper fetches a reasonably sensible value as a result of it's additionally the most effective conductor of electricity, does not tarnish and is malleable. to search out copper's soften worth, we want to understand that a pound of copper is presently price concerning $3.12. 154 copper pennies equal one pound. So 3.12 divided by 154 is concerning a pair of cents for every penny.

Since each copper penny's worth is a pair of cents, it is alittle investment. The a lot of copper pennies you have got, the bigger the investment. So, however does one still get a copper penny for its face value? initial, you'll notice pennies before 1982 by examining your everyday amendment, otherwise you should purchase rolls from banks.

In addition to the very fact that every copper cent is price doubly the maximum amount, its numismatic worth is additionally necessary. Examining the dates and conditions of every coin the means a numismatologist would, may offer your copper even a lot of worth. however you do not essentially got to have the information of a seasoned numismatologist. several rolls contain older "wheat" cents that were minted before the trendy Lincoln cent (1959 - now). it is simple to identify a wheat cent - examine the dates, minted between 1909 and 1959 and therefore the reverse aspect on that the words "ONE CENT" ar focused between 2 stalks of wheat.

Depending on condition, wheat cents ar rarer and a lot of valuable. the higher the condition, the a lot of they're going to be price. after I hunt rolls, I typically notice wheat cents in "good" to "very good" condition. These might fetch a value of 10-15 cents on eBay. it isn't uncommon to search out many elderly wheat cents and copper Lincoln/Memorials in a very bank box of fifty rolls. to urge a far better information concerning conditions and costs i might go browsing and look for "value of pennies by year", or "what's my coin price." you'll additionally purchase the most recent "Official Red Book: A Guide Book of u.  s. Coins" that ar obtainable at bookstores or on Amazon.com.

Boxes of pennies you purchase from the bank contain $25 of pennies in fifty rolls, that totals to a pair of,500 pennies. Unless you would like to travel through every roll and examine every one by one, you'll purchase a copper penny sorting machine that allows you to separate the coppers from the zincs. If you are not in a very hurry to separate them, you'll purchase a basic "E-Z Copper Penny Sorter" from $30 to $60. For fast sorting of many pennies, you'll want a "Ryedale Apprentice Penny Sorter" that sells for $500.

Another reason to gather copper pennies is that sometime once the Mint takes them out of circulation, it'll be legal to soften them into bars. Bars ar rather more manageable to place aside rather than holding on to very large jars or bins which will contain a whole bunch or perhaps thousands of pennies.