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?

[TORRERO]

There's lots of sites that sell silver coinage @ a premium over spot.
Think of it like a the currency exchange between to countries.

We sell to a bank for X-they sell to us for X the margin is the profit.

In flipping commodities there was 2 ways of doing it.
Small volume bigger spread.
High volume little spread.

Google search...

"Individuals are generally allowed to melt other coins, such as silver dimes, quarters, and half-dollars, as long as they are not doing so for profit. For example, if you're melting coins for personal use, such as creating art or jewelry, and not for the purpose of selling the metal, it is typically permissible."

 

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[TORRERO]

TORRERO... "but you can't melt and sell copper coins..."
Pepperj... "get caught, and it's a pile of problems. If still in penny form."

I believe you both and have no argument. I was only inquiring if somebody DID 100% melted down a $1,000 dollars worth of pennies into say 5 lb. bricks how would anybody know when you went to turn in for the going price today. It appears anybody could triple the value today...? Or am I thinking wrong or missing something outside of unlawful.

Well have you ever considered ... where you are planning to sell that $1000 worth of copper, and do you think someone might ask you why, or where a civilian got that kind of copper..
Also if you did the melting, how much would that cost? An assload I'm sure, paying for the equipment and fuel to heat it up hot enough..

 

[Limitool]

So, in your assinine post, do you wish to purchase some copper or are you just being an asshole?

Scott

He was just addressing some of the questions I was inquiring about.

 

[AU24K]

He was just addressing some of the questions I was inquiring about.

Sometimes, one must be careful of new contacts, Dig?
Especially of their German speech.

I was always careful of new contacts while serving in the Army.
Mistakes could mean death.

I still employ those criterions of speech.....
Both German and English.....


Scott

 

[Limitool]

Well have you ever considered ... where you are planning to sell that $1000 worth of copper, and do you think someone might ask you why, or where a civilian got that kind of copper..
Also if you did the melting, how much would that cost? An assload I'm sure, paying for the equipment and fuel to heat it up hot enough..

Where to sell?: I guess wherever metals are sold.
Somebody asking?: Why would I care if they asked. "Just melted a bunch of copper"
That kind of copper?: I didn't know there was different copper. Or do you mean 5 lb hunks?

I think it's only about 200 lbs of copper. There's only about 35 degree difference between gold and copper melting. My dad had an old furnace he melted gold in. I don't know what he used to fuel it though.

 

[Blackfoot58]

0.028 cents is 28/1000ths of a cent.
I think most of you mean $0.028.
That is 2 and 8/10ths of a cent each.
Just saying…

 

[TORRERO]

So, in your assinine post, do you wish to purchase some copper or are you just being an asshole?
Who are you?
I really want to know......



Scott

Who the f are you ?
Its basic math, you show up with stuff that most people can't get ahold of by legal means then people ask questions..
Personally I don't deal in copper, I don't personally give a flying fuck what you do..

What's so asinine about these questions ? I'm just thinking what a company might ask if you show up with a $1000 worth of copper and try to sell it, I was not attacking the OP it was just a question, you do whatever the fuck you want and if they don't ask good for you.. and if they do FUCK YOU TOO !!

AND OP, Sorry if you took this the wrong way, I was only trying to consider the simple math..
Sure you can melt pennies, but is it worth the few cents on the dollar for all this

1. you can't show up at a smelter with a bag of pre 1982 pennies and sell them...
SOOOO ...

You have to FIND them, SORT them out.. (between the coppers and aluminums)

2. Figure how your going to melt them down into whatever form you are melting them into and then..
3. Find a company that buys raw copper.. (there are places that do this)

4. I know places that buy copper wire, copper pipes, copper sheeting, from homes and construction sites and THEY
do the smelting...

I just thought if I was a smelter, wouldn't it be odd if someone showed up with $1000 of already melted down copper to sell ? I would as a person wonder why they went to all the trouble to melt it down, before bringing to me, to melt it down again??

Anyway, SORRY EVERYONE FOR OFFENDING YOU ALL WITH ASININE QUESTIONS !

 

[AusTexDude]

TORRERO... "but you can't melt and sell copper coins..."
Pepperj... "get caught, and it's a pile of problems. If still in penny form."

I believe you both and have no argument. I was only inquiring if somebody DID 100% melted down a $1,000 dollars worth of pennies into say 5 lb. bricks how would anybody know when you went to turn in for the going price today. It appears anybody could triple the value today...? Or am I thinking wrong or missing something outside of unlawful.

Most scrap places won't take metal if it's been melted in anyway.
That's unless you have a friend in the business and work out a deal I guess.

You would need a buyer.

 

[Blackfoot58]

The melting cost would override most of the profit.

 

[Limitool]

Most scrap places won't take metal if it's been melted in anyway.
That's unless you have a friend in the business and work out a deal I guess.

You would need a buyer.

The melting cost would override most of the profit.

That information above makes a lot of sense to me. I had no idea scrap places would shy away from melted metal. And I had no idea the overhead would be very expensive. The whole idea just seemed to easy.... and it's NOT. TORRERO addressed this also... thanks to you all. I learned...!

 

[beepbleep]

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

I pulled a 1919 wheatback out of my pocket change last week. It's well worn too.

 

[TORRERO]

Most scrap places won't take metal if it's been melted in anyway.
That's unless you have a friend in the business and work out a deal I guess.

You would need a buyer.

I had never heard this, but it seems logical because then you have to ask why someone would go to that much trouble to melt something down, what are they trying to hide... that's what I would think ha ha ha

 

[TORRERO]

The melting cost would override most of the profit.

That's why I asked how much the cost would be to burn / melt all that ...

 

[FreeBirdTim]

Most scrap places won't take metal if it's been melted in anyway.
That's unless you have a friend in the business and work out a deal I guess.

You would need a buyer.

EBay to the rescue! Who on earth would pay $8.00 a pound for scrap copper?

https://www.ebay.com/itm/315184531358?_skw=copper+ingot&itmmeta=01JHG702PXEEYJCDTHCPSAGYSG&hash=item496276479e:g:~~oAAOSwzVJiA7vn&itmprp=enc:AQAJAAAA8HoV3kP08IDx+KZ9MfhVJKli2kU2k1mGH5jWCwCWMUa8EiOrnXWa+unNQzrE0Vm+46B5D+mOr0eZuwU4hMKaB+hmmEUz2GDkJRS8oZDlLwZyMdvqN2cpMgZhx1m9LPay6eh3a90KJheBVB/Zb2XBzRKIYa1SNLOdc3wFVFogxprI1pR2GDx4lJsTZbaDOezoOFH2WqDrhIBbwiK0RPqKQwpD9qmJfayQMt3SM6H+2HqIwPRCI6vVTtSsnPG/3TQoNsG9AMNzxyITTdGz/bJ+jfCrX+yTjr4P0XltT58nKysv61+0HPj+47tOFDG2ynoDhw==|tkp:Bk9SR86rgIeMZQ

 

[AusTexDude]

EBay to the rescue! Who on earth would pay $8.00 a pound for scrap copper?

https://www.ebay.com/itm/315184531358?_skw=copper+ingot&itmmeta=01JHG702PXEEYJCDTHCPSAGYSG&hash=item496276479e:g:~~oAAOSwzVJiA7vn&itmprp=enc:AQAJAAAA8HoV3kP08IDx+KZ9MfhVJKli2kU2k1mGH5jWCwCWMUa8EiOrnXWa+unNQzrE0Vm+46B5D+mOr0eZuwU4hMKaB+hmmEUz2GDkJRS8oZDlLwZyMdvqN2cpMgZhx1m9LPay6eh3a90KJheBVB/Zb2XBzRKIYa1SNLOdc3wFVFogxprI1pR2GDx4lJsTZbaDOezoOFH2WqDrhIBbwiK0RPqKQwpD9qmJfayQMt3SM6H+2HqIwPRCI6vVTtSsnPG/3TQoNsG9AMNzxyITTdGz/bJ+jfCrX+yTjr4P0XltT58nKysv61+0HPj+47tOFDG2ynoDhw==|tkp:Bk9SR86rgIeMZQ

Holy crap. Look at these sold auctions for Copper ingots. Had no idea people were actually this dumb, but they are.

Copper Ingots for sale | eBay

Get the best deals for Copper Ingots at eBay.com. We have a great online selection at the lowest prices with Fast & Free shipping on many items!

www.ebay.com

 

[Blackfoot58]

That's why I asked how much the cost would be to burn / melt all that ...

I don’t know the cost, but it would definitely offset some profit.

 

[Limitool]

Holy crap. Look at these sold auctions for Copper ingots. Had no idea people were actually this dumb, but they are.

Copper Ingots for sale | eBay

Get the best deals for Copper Ingots at eBay.com. We have a great online selection at the lowest prices with Fast & Free shipping on many items!

www.ebay.com

I'm surprised also. And I guess I'm confused on WHY anyone would purchase them at all.

One seller is selling bars for $79.35 ea. which weight 1KG / 2.2 lbs. That's just 318 pennies melted down. That's a $76.17 profit minus melting costs for about 6+ rolls of pennies.

What would it cost to melt around 6 rolls of pennies...?

 

[Limitool]

I'm surprised also. And I guess I'm confused on WHY anyone would purchase them at all.

One seller is selling bars for $79.35 ea. which weight 1KG / 2.2 lbs. That's just 318 pennies melted down. That's a $76.17 profit minus melting costs for about 6+ rolls of pennies.

What would it cost to melt around 6 rolls of pennies...?

Why the hell didn't somebody slap me around a little here.... I didn't know the copper content of pennies were what they are today. I just looked it up and feel damn stupid now. I just didn't know or realize. I need to stay in my "lane" and coins are not it...!!!!

 

[pepperj]

Well have you ever considered ... where you are planning to sell that $1000 worth of copper, and do you think someone might ask you why, or where a civilian got that kind of copper..
Also if you did the melting, how much would that cost? An assload I'm sure, paying for the equipment and fuel to heat it up hot enough..

Scrap yard requirement is: The seller you has to have a piece of Gov't issued ID.
TORRERO met this requirement.
He wants to sell that $1000 dollars worth of copper.
Sign there: Thank you sir
How would you like youth cash today? $100s, 50s, or 20s?

Simple as that: You sell me some hot stuff and it comes back to nibble me-guess how things work sir, it comes back to bite you.
Meaning you pay me back the $1000.00
If you don't then the collection service will collect the debt owing.

You might just as well pay it back-I was never owed a debt owing.

 

[pepperj]

I'm surprised also. And I guess I'm confused on WHY anyone would purchase them at all.

One seller is selling bars for $79.35 ea. which weight 1KG / 2.2 lbs. That's just 318 pennies melted down. That's a $76.17 profit minus melting costs for about 6+ rolls of pennies.

What would it cost to melt around 6 rolls of pennies...?

Oh there's a whole lot of stupid out there if folks are paying those prices for copper ingots.
The first one in the link actually sold and it looks like brass.

To melt copper is not too hard.
Simple weed torch on LPG BBQ tank will melt your pennies in minutes.

Now if you add air from a compressor then you have a torch that will melt it in seconds.

I could melt the windings from a large transformer in under 10 seconds. (not that I wanted to-it just happens if the pile was too high)