i have 100lbs of penny's. how many dollars is that. and can i get more if i scrap them for the copper?

Answer 1

Please note that I'm actually going to provide a mathematical explanation, and I'll actually cite sources for all of my information. Unlike anyone else.

A penny weighs 2.5g. That means you have:

100 lbs / 2.5g =

100 lbs / 0.00551155655 lbs =

18144 pennies (approx)

That's $181.

Now then, a penny is not made of copper. It is:

97.5% Zinc, 2.5% Copper.

Which means you have

97.5 pounds of zinc = $24.38
2.5 pounds of copper = $6.88

The prices being:
$2.75 / lb copper
$0.25 / lb zinc

That's less than $32 if you scrapped them. So definitely change them in. On the other hand, if they are all older than 1982, they will all be copper, which puts them at a value of $275. If you're unsure how old they are, you can actually figure out that the total need to be copper, for scrap to be worth more is:

2.75C + 0.25(100-C) > 181
2.5C > 181 - 25 = 156
C > 156 / 2.5 = 62.4

So if you think more than 62.4% of the pennies are from before 1982, then scrap them. This is doubtful, so you should roll them and cash them in at the bank instead (unless you know they are all mostly old). This is probably the best idea since you aren't supposed to scrap US currency within the US (it's illegal). (If you're outside the US, I'm not sure if it's legal or not.)

Coins do not normally scrap for more than they are worth, unless they are older coins, from before a significant change in the content. This is the case in 1982 with the penny (because copper prices were so high that copper pennies were losing the treasury money). Copper is still too expensive to make 1 cent coins from (at least 1.5 cents worth of copper), so scrapping copper pennies will actually make you some money. But it's illegal, and odds are you have mostly zinc pennies, which are worth more as pennies.

Answer 2

It depends on the date on the pennies. The ones before 1981 are 90% copper. In 1981 the alloy was changed to contain less copper, and beginning in 1982 they are almost worthless being mostly zinc with a thin copper coating on the outside.

Onlt the pennies dated 1980 and earlier are worth anything in terms of copper. The rest are really junk and not worth anything.

You'd have to sort through the whole pile one by one and keep only the 1980 and earlier ones, and toss the rest.

Answer 3

No idea on the value and you cannot really answer. This is because older pennies weigh more than newer pennies. In the early 80s the make up of the penny went to be a zinc filling so there is not a lot of copper in a penny. Older ones are copper and weigh more.

Answer 4

Just count them out and roll them in fifty-cent rolls. Or at least the number to equal one pound. Sometime ago, the composition of the penny was changed so it has less copper. Thus, selling them for scrap may not work. Check with a metal junk yard or an electronics disposal company.

Answer 5

It depends on what years the pennies are. THey changed composition from mostly copper to mostly zince about 30 years ago. They are like 90%zinc now. So not a huge copper scrap source.

Answer 6

hmmmmmmmmm

pennies are copper and zinc

8 per ounce I think, when they were copper anyway

so........... 8 x 16 = 128 per pound

Answer 7

They're going to be worth a nickel each for scrap soon, I'm with you on scraping them.

Answer 8

Just to let you know, (as no one above did), it is a FEDERAL CRIME to deface American currency, and technically, you could be jailed for melting them down.