Penny Pinchers

Discussion in 'Economy' started by Mr. H., Dec 4, 2011.

  1. Mr. H.
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    Mr. H. Diamond Member

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    Pennies dated pre-1983 are 95% copper and worth $.024 in metal value.

    It's illegal to melt them down, but that could change....

    If Laws Change, 'Penny Hoarders' Could Cash in on Thousands of Dollars - Yahoo! News

    Our family has collected wheat pennies for 40 years and have a couple thousand of them. I've tried cataloging and grading but gave up after the first 500 LOL.

    Of course, I would never melt these down as most have numismatic value. :thup:
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says Uncle Ferd got too much junk inna shed - not enough space fer her junk...
    :eusa_shifty:
    Have Americans lost their taste for more and more stuff?
    8 August 2012 - Americans are drowning in material possessions. But have years of economic stagnation tempered the US consumer's habit of accumulating ever more stuff?
     
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  3. editec
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    editec Mr. Forgot-it-All

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    I remember when silver was being withdrawn from circulation.

    You could get a whole $1.10 sometimes for a bucks worth of quarters dimes or halfs.

    What are those worth silver coins now?

    My suggestion is you hold onto those just wheaties a bit longer.
     
  4. Mr. H.
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    Mr. H. Diamond Member

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    I'm bidding on two (count 'em, 2) lots of wheats on eBay. The max I'll go is 3 cents per including shipping. That's about the average value when you buy in bulk.
     
  5. rightwinger
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    rightwinger Award Winning USMB Paid Messageboard Poster Gold Supporting Member Supporting Member

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    We need to get rid of pennies anyway

    They are a burden
     
  6. Mr. H.
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    Mr. H. Diamond Member

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    Roger that. Canada no longer makes them.
     
  7. rightwinger
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    Two reasons we even need pennies

    1. Businesses charging $9.99 instead of $10
    2. State sales tax

    Without those we wouldn't need pennies
     
  8. Mr. H.
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    Mr. H. Diamond Member

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    Maybe they should mint 1/10 cent pieces to take care of that $3.999 gas price.
     

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