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Is a "penny" worth more than a penny?  

post #1 of 18
2/21/10 at 1:45am
Thread Starter 
If I were to trade a 100$ bill for 10000 pennies and moulded them to copper and sold them would I gain profit?? And if I repeat this process over and over again can I make $$$??

P.S. I know its illegal but Im just curious
post #2 of 18
2/21/10 at 1:49am
In Canada you'd have a lump of steel, with a bit of nickel and zinc and tiny traces of copper from the plating. Any more silly questions for tonight?
post #3 of 18
2/21/10 at 1:55am
No. Modern U.S. pennies are not produced from enough copper to make melting them down worthwhile. They are mostly Zinc, i believe. However, the modern U.S. penny does cost our gov't more than one cent to make which is completely ridiculous. We should discontinue the penny. But that's a discussion for another day.

However, from my understanding the current U.S. nickel is worth more than 5 cents in metal and has remained consistent in manufacture for basically forever, which makes stock-piling and burying 5-cent pieces a viable investment.

ac
post #4 of 18
2/21/10 at 1:55am
Drug use is becoming more prominent with our youth
post #5 of 18
2/21/10 at 2:03am
Im stocking up on McDonalds french fries.
Soon they will probably ban them because theyre bad for you, and then ill be the only source, and ill make million$ !!!
post #6 of 18
2/21/10 at 2:11am
Thread Starter 
Quote:
Originally Posted by Kirosia View Post
Drug use is becoming more prominent with our youth
what does that have to do with selling pennies?
post #7 of 18
2/21/10 at 2:23am
Quote:
Originally Posted by beamthegreat View Post
what does that have to do with selling pennies?
Nothing, and everything.
post #8 of 18
2/21/10 at 2:29am
No, seriously, I was reading on a survivalist website about stockpiling nickels in military surplus ammo cans (buried underground). I mean, I'd rather have gold or silver, but nickel will do. I'm not sure what practical application there is for nickel... but whatever. Better than stockpiling worthless cotton-paper.

ac
post #9 of 18
2/21/10 at 3:15am
Any US penny from 1981 or earlier is almost all copper. A few from 1982 are also almost all copper. (more than 98% IIRC) But most 1982 and all pennies since are almost all zinc, with a thin copper plating.

It's easy to tell the difference without even looking at the date ... find a 1981 or earlier penny and a more recent penny, and drop them one at a time on a hard surface like a kitchen countertop. The old copper penny will have a 'ring' sound to it when it hits, while the newer penny just makes a dull sound.
post #10 of 18
2/21/10 at 3:19am
Thread Starter 
Quote:
Originally Posted by Hanafuda View Post
Any US penny from 1981 or earlier is almost all copper. A few from 1982 are also almost all copper. (more than 98% IIRC) But most 1982 and all pennies since are almost all zinc, with a thin copper plating.

It's easy to tell the difference without even looking at the date ... find a 1981 or earlier penny and a more recent penny, and drop them one at a time on a hard surface like a kitchen countertop. The old copper penny will have a 'ring' sound to it when it hits, while the newer penny just makes a dull sound.
So is that a yes?
post #11 of 18
2/21/10 at 3:32am
if you don't mind dropping 10000 pennies to make some cash....sure?
post #12 of 18
2/21/10 at 3:36am
10,000 pennies would weigh about 68.5 pounds. Assuming you could get 68.5 pounds of actual copper from those pennies, at $3.25 a pound for scrap copper, you could theoretically get about $222.
post #13 of 18
2/21/10 at 3:46am
Quote:
Originally Posted by beamthegreat View Post
So is that a yes?
LOL, now go hunt for those 1981 or older pennies!

I think you are better off collecting all the empty bullet shells off some military base. Assuming you don't get arrested or accidentally shot.
post #14 of 18
2/21/10 at 4:02am
Quote:
Originally Posted by skyline889 View Post
10,000 pennies would weigh about 68.5 pounds. Assuming you could get 68.5 pounds of actual copper from those pennies, at $3.25 a pound for scrap copper, you could theoretically get about $222.
so, if your bag of 10000 pennies could at best bring you 122$ in profit....:S
lets assume it takes one second to check out the coins' date. so that would be 10000 seconds or 2 hours and 46 minutes.
That gives you....maximum 43$ an hour work, non stop. That is assuming we managed to find all of them are copper...
if we have less than 18% in copper coin ratio,,, you're earning less than minimum wage in BC.

don't quit your day job.
post #15 of 18
2/21/10 at 4:12am
Just look for wheat pennies, they're worth 2 or 3 cents!
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