So is it legal to melt down pennies that have been run through a smashing machine and no longer any good as far as us currency?
Experienced Scrapper
So is it legal to melt down pennies that have been run through a smashing machine and no longer any good as far as us currency?
Metal Recycling Entrepreneur
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300 pounds of copper is 300 pounds you have itOriginally Posted by jghilino
Are all nickels - nickel - I know there is a silver year but are there any years that nickel is not used in favor of some other low cost alloy
I also found if I drop a CU coin on it's side from 5 inches to a hard surface is sings a song but the zinc just goes flat in sound i tested my ear with this with a visual after and the song bird CU coin sang it's way into truth - A time past of a last ditch copper economy as pure silver was gone in coins .
Last edited by Copper Head; 11-05-2012 at 08:44 PM.
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This SMF topic should help:
http://www.scrapmetalforum.com/misc-...et-change.html
Experienced Scrapper
no really hoarding the penny, in the eighties somehow I ended up with about 250 lbs of them, been sitting in my shed , so I guess if they might be OK as is,..
Metal Recycling Entrepreneur
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Up here, pennies are been removed from circulation since about a decade, but I wonder how much is sitting a bit everywhere: pennies that have not been returned to the banks, U.S. pennies coming in the change from trips in the States and so on. When Canadian pennies were in circulation, U.S. pennies were very frequent in our change. Maybe 4-5% of our pennies, but much harder to find in nickels and up. Once I found a penny from Panama in my change and a Barbados quarter another time.
NEW TO SCRAPPING? READ THIS: Build up your horde of magnetic and non-magnetic metals in two piles until you have a better understanding of the business. Magnetic material has low value and is mostly always steel / shred / short iron. Read old threads about non-magnetic metals and ewaste (and how to sort them), but don't forget that they generally have absolutely no tolerance for contamination (screw / iron / foreign material).
Saving your copper pennies is a great investment. Forget melting them down. They are already great copper bullion rounds. No need to melt them. Saving your copper pennies gives you about 3 cents worth of copper bullion per penny to HODL deep into the future. I know they are not technically bullion but just trying to get my point across. As pennies they are worth more than melted down. Because as pennies they are great to hold/store/trade investment copper. If deep in the future copper is $50 a pound. People will the single pennies for small value barter trades. Like 10 copper pennies for a dozen eggs. The pennies as is are easier to trade than actual bullion bars because if you want to spend 10 grams of copper you have to cut a piece off of your bullion bar or round. Look at copper pennies like half gram gold bars. They make those tiny bars so that they can be used to trade for stuff that costs less than a whole one ounce gold bar or round. Plus also the penny left alone as is will always hold and increase in value as a vintage coin. With old currency you get two investments. You get an investment in the metal and an investment in the vintage currency market.
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