2007-04-18 07:04:12 · 3 answers · asked by greeneyedflavor 2 in Games & Recreation ➔ Hobbies & Crafts
US "pennies" cost more than one cent to produce, but not as high as five cents, at least not yet!
The state quarters are being struck in huge quantities, and are being saved by large numbers of people. This means their investment potential is highly in doubt. The good news about these US Mint promotions is that it brings more people into the coin collecting hobby. Some of these will become very involved in collecting historic and truly rare coins, which can send prices higher over the long run.
Another way to look at coin collecting is as a hobby first, and as an investment -- maybe. I have a page on this on my coincollecting web site: http://www.valuable-coin-stories.com/value-of-rare-coins.html
2007-04-18 08:37:08 · answer #1 · answered by CoinTrain 4 · 1⤊ 0⤋
Last I heard pennies were only worth 2.1 or 2.2 times face. This is melt value and since it is illegal for individuals to actually melt the coins and there are restrictions on how much can be exported the whole point is moot.
As for the state quarters. If you have a proof set of statehood quarters then I would expect the value to go up over time. If it is a collection made up of coins from circulation I would not expect much if any increase in value. There are just a lot of people collecting those coins and demand for them will be minimal.
2007-04-18 08:00:46 · answer #2 · answered by BD in NM 6 · 2⤊ 0⤋
When the mint said it cost more to produce a cent than it's value, they did not say the metal was worth more than a cent. They took in to account labor cost, shipping and overhead. The copper coated zinc cents have little copper in them. The old copper cents weighed 3.11 grams the copper coated zinc weigh only 2.5 grams. The coin is 99.2% zinc to .08% copper. I have noticed you don't find the old copper ones like you used to so everyone is saving them. It does not matter for it is against the law to melt them or nickels. You are only allowed to take so many out of the country also. If you have a nice uncirculated set of state quarters, that you didn't put into a folder with your thumb, it is worth more than face value now. A set of all mints clad (including proofs), plus the S silver proofs are selling for over $800 now.
2007-04-18 14:43:55 · answer #3 · answered by Taiping 7 · 0⤊ 0⤋