If you're going to pick up pennies from the street, (which I don't, because it's dirty and not worth the effort), do it smartly. Pennies made before 1982 are almost pure copper and the metal alone is worth 2.5 cents. Pennies made after 1982 are zinc coated and are worth less than a cent. So keep the older pennies and cash in the newer ones. But you may have to wait a while to make a profit. Believe it or not, the government recently issued a regulation to prevent the melting of pennies, since the pre-1982 pennies are worth much more than 1 cent. However, when that regulation expires, it will be open season on copper pennies, just like it was open season on silver coins (dimes, quarters) after they stopped making them in 1964 due to the price of silver increasing above the coins' face value.
How true is this?
Here is the link ( go to the RESPONSE section after the article, its # 3rd ). Its “lethwik”
http://finance.yahoo.com/expert/article/moneyhappy/46958
2007-10-10
11:06:56
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