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
(2,318 posts)About 1965 or so could buy double eagles for $75 one ounce of gold...was worth $35 then .
multigraincracker
(34,324 posts)silver coins up to $50 for $1.00 face for silver coins. Close to $20. now.
Enter stage left
(3,850 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
(34,324 posts)tax.
Enter stage left
(3,850 posts)it is a difference of 2 cents in either case.
dem4decades
(11,985 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
(34,324 posts)common ones have stayed the same. Stamps have gone down as few young people are interested.
Timewas
(2,318 posts)Had a lot of them too , but had to sell out,Still have some indian heads and steel pennies.
Kablooie
(18,793 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
(34,324 posts)doc03
(36,959 posts)money? I see a bitcoin ATM at the mall it looks like it isn't that difficult.
Kablooie
(18,793 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
(36,959 posts)Kablooie
(18,793 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
(36,959 posts)like we had for the Savings and Loans, .coms and 2008 crash.
samplegirl
(12,145 posts)of pennies!
multigraincracker
(34,324 posts)no_hypocrisy
(49,195 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
(34,324 posts)I'd need a jewelers loupe.
Ferrets are Cool
(21,991 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.