So if a Silver Quarter is Worth It's Value in Silver, Why is a Pre 1982 Copper Penny Not Worth Its Value in Copper?

[AusTexDude]

Takes about 145 Pennies to make a pound. Copper is going for $4.16/Lb. Why are pre 1982 Pennies not worth 0.028 cents each?

 

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[ToddsPoint]

Takes about 145 Pennies to make a pound. Copper is going for $4.16/Lb. Why are pre 1982 Pennies not worth 0.028 cents each?

You can melt old silver because it’s no longer used as currency. You can’t melt pennies for scrap because they are still in use. So technically a copper penny is worth .028 but you can’t legally sell cents for scrap.

 

[l.cutler]

A lot of people do save the pre 82 bronze and brass cents for metal value and some will buy them in bulk for a couple cents each. Lot of effort for not much gain in my opinion!

 

[Loco-Digger]

See the melt value below for silver quarters

 

[Gold Maven]

416/145=2.87 cents, per cent. your figure is dollars per cent.

 

[pepperj]

Takes about 145 Pennies to make a pound. Copper is going for $4.16/Lb. Why are pre 1982 Pennies not worth 0.028 cents each?

Why the penny isn't worth 0.028 cents each?

1 cent is actually worth 0.02684
In the scrap industry the difference of $116.00 is over 4% and that increase wouldn't happen at the refinery level.


Penny is 95% copper 5% zinc

However, #2 Copper can still be found in various items like pipes, wires, and other copper materials. While it may not fetch as high a price as #1 Copper, it’s still sought after in the scrap metal market for its recyclability and usability in various industries. The minimum copper content of this type is between 94-96%.

The price of #2 copper is $4.05 a pound making the penny worth

Scrap 1 cent

Scrap $1000.00 worth

 

[pepperj]

Why the penny isn't worth 0.028 cents each?

1 cent is actually worth 0.02684
In the scrap industry the difference of $116.00 is over 4% and that increase wouldn't happen at the refinery level.


Penny is 95% copper 5% zinc

However, #2 Copper can still be found in various items like pipes, wires, and other copper materials. While it may not fetch as high a price as #1 Copper, it’s still sought after in the scrap metal market for its recyclability and usability in various industries. The minimum copper content of this type is between 94-96%.

The price of #2 copper is $4.05 a pound making the penny worth

Scrap 1 cent

View attachment 2188319

Scrap $1000.00 worth

View attachment 2188320

The copper cent is actually Building Metal (form of brass)

 

[TORRERO]

You can melt old silver because it’s no longer used as currency. You can’t melt pennies for scrap because they are still in use. So technically a copper penny is worth .028 but you can’t legally sell cents for scrap.

This begs the question.... can you melt down wheat pennies because they are not in circulation ?

 

[pepperj]

This begs the question.... can you melt down wheat pennies because they are not in circulation ?

They're still legal tender are they not?

I would say that the collector value mirrors or exceeds the scrap value.

Find Out How Much Is Your Lincoln Wheat Penny Worth

Looking to see how much your wheat penny is worth? Review our chart, which lists coin values for Lincoln wheat-back pennies minted from 1909 to 1958.

www.thesprucecrafts.com

I see online the asking prices are $10 a roll to $26 for a pound of Wheats.