Selling Precious Metals

[piggman1]

OK, so you can legally sell silver as bullion, I'm talking coins here. My question is, can you sell copper pennies, pre 1982, for the going rate of copper. It takes 146 copper pennies to make a pound, and at around $3.00 per pound for copper, that doubles your money. Or would you have to melt them down. Just curious. I seperate all of mine out.

 

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[BioProfessor]

Pennies aren't pure copper so it would be a hassle to try and get them smelted to pure copper to get the going rate for copper.

From the US mint:

The following is a brief chronology of the metal composition of the cent coin (penny):

* The composition was pure copper from 1793 to 1837.
* From 1837 to 1857, the cent was made of bronze (95 percent copper, and five percent tin and zinc).
* From 1857, the cent was 88 percent copper and 12 percent nickel, giving the coin a whitish appearance.
* The cent was again bronze (95 percent copper, and five percent tin and zinc) from 1864 to 1962.

Hope that helps.

Daryl

 

[jeff of pa]

for some unknown reason.
(I don't believe the mints excuse)
It is illegal to sell pennies for copper content.

the mint says they need the pennies in circulation.

I think they are trying to get them back at face value.