Since May of 2006, all circulation Canadian pennies from 1942 to 1996 have an intrinsic value of over $0.02 USD based on the increasing spot price of copper in the commodity markets, how could someone be able to cash in on this? If a canadian penny is worth more than twice its value would it not be worthwhile to cash in on this?
2007-06-19 07:12:12 · 1 answers · asked by Anonymous in Business & Finance ➔ Investing
Get a bunch of them and take them to a scrap metal dealer.
I remember about 30 years ago, more or less, copper spiked and people were hoarding US pennies. The local food store would buy pennies at a 5% premium so that they could make change. Then the price of copper fell and nobody cared. It can't happen again because the US started making pennies out of zinc, with just enough copper to give them color.
2007-06-19 08:11:12 · answer #1 · answered by Ted 7 · 0⤊ 0⤋