Searched results a Box of Pennies(USA $25 ) penny picking

[FiresEye]

Todays finds are 10 wheats and over five dollars in copper pennies. I can do a whole box of pennies by hand in under an hour if I'm rushing. But that takes the fun away from "penny picking". As I've been to north Goergia, I know what it's like to "pick" a nice visible small flake of gold with a unique shape right from the river( most likely from gravel under bedrock, etc), so collecting copper pennies is a similar and still fun hobby.
Since each penny before 1982 is 95% copper, one cent is actually worth two.. How's that for my two cents. The way I see it is, it's less common knowledge, and most lack the patience or funds to search... But a roll of pennies to me is like a crevice in the bedrock... a little pocket full of unknown wonder and mineral value.
Let's just say I have a lot of leftover pennies that are 95% zinc.. Lots.. like fifty dollars worth.. Well, I take the hit, and pay 8% on a very fast penny counting machine, and that more than covers the price of the copper gained.

Good luck.. Can't wait to see a little river in North Georgia Again. Also, the bankers like me because I don't bring the pennies back.

 

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[FiresEye]

As far as I'm aware, it is perfectly legal to melt Canadian coins in the U.S. and vice verse.

Not sure this is true.

Like I said, as far as I am aware it is the case. Now, similar to silver, there is no point in even melting them down at this point. As a minted copper cent, people know the copper content, just as they know the silver content of ASEs. It's a known amount, issued by the government, as opposed to a melted-down coin minted into a round or bar, whereby who knows what purity you would get.

As far as when any ban on the melting of a copper cent or Canadian nickels goes, it will probably be something similar to silver. The ban will be lifted when the percentage of copper cents or nickels in circulation drops below something like 1% and it's no longer worthwhile for the government to continue withdrawing them from circulation themselves.

As an example, the Canadian government is currently in the middle of an Alloy Recovery Program (ARP) to get the pre-1982 99.9% Ni nickels out of circulation and back into their coffers. But that costs them time and money. Meanwhile, nickel prices are doing very well. The nickel spot peaked in 2007 but it's leveled off quite nicely now.

This fellow on ebay is asking $15.75 / lb for his nickels. (Spot is currently $9.50)

http://cgi.ebay.com/20-Pounds-Canad...584?pt=LH_DefaultDomain_0&hash=item45f4dfa7b0

Personally, I won't be selling any of mine any time soon. I'm looking for much, much more.

Indeed, you make a valid point

If the United States Government is removing copper pennies from circulation, they are doing it on the down low. Which wouldn't surprise me.. Who wants hoards of copper hungry peons storming the banks demanding $25 boxes of pennies. It is however, a customers right to get their money in whatever form.
Also, if you're serious about collecting pennies, at todays rate, it's about 3-15 pennies in standard 50 rolls.
Some rolls have no coppers. It's sort of hit or miss. I'd get some now before they are all gone!
Also, most banks require that you place an order and come, pick them up when they arrive... They also give you scowling looks when you do it, like they just know you are penny picking and it's somehow not a basic human right( in America)

 

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[staydetuned]

Very cool thread, and I think you make good points FiresEye. The copper situation seems very similar to the silver/clad situation, just harder to see with the smaller denomination and "less valuable" metal. If people were getting the same ratio of silver/clad as exists in penny rolls with copper/zinc it would be a little more exciting. Like you mentioned in your first post, I guess it takes a somewhat finer focus to realizes those tiny hidden treasures...

 

[coinshooter]

This is what you need if you are serious about penny "pinching"

http://www.ryedalecoin.com/Products.html

Go to "home" on this link and watch the videos.
I've always wanted to borrow one of these.
They're kinda pricy to buy, but if you did enough volume, they pay for theirselves in about a year.