where can i sell my pennies prior to 1982 for more than 1 cent??? i have researched and found out that pennies prior to 1982 were made out of copper and are acutally worth 3 cents, i have atleast a thousand pennies prior to 1982 (alot of them are 1960s), is there any place i should go to in order to sell my pennies for atleast 3 cents each??? does any such place exist? i live in california.
2007-11-03 16:11:20 · 9 answers · asked by starz8 2 in Business & Finance ➔ Investing
If you could sell your pennies for more than face value, don't you think the U.S. mint would have pulled out of circulation all copper pennies , I've heard of silver being bought and sold by weight but I believe laws prohibit the public melting down u.s. coins.
If you have wheat pennies from before 1959 I believe there are coin dealers that might pay 3 cents each , but it won't be for the copper content , just the demand by coin collectors.
Excellent question by the way , I hope you get some smart answers.
2007-11-03 16:29:43 · answer #1 · answered by jorgeqba 4 · 0⤊ 1⤋
Sell Pennies
2016-12-28 04:52:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Key date pennies are the only pennies that are more valuable than the other pennies. The most valuable being the 1909 VCB s penny and the 1943 copper penny which only a few was made before the start of World War II. Wheat pennies are the most valuable, and 1960's really are not that valuable unless there are errors that other collectors would be willing to pay more for. I would check and see how much copper is going for and possibly sell them for scrap, but as one person pointed out, it is defacing U.S. currency.
2016-03-13 12:23:21 · answer #3 · answered by ? 4 · 0⤊ 0⤋
To my understanding the copper in a penny is worth than 1 cent. You could take them to a scrap steel or recycling yard but I think it is illegal destroy any kind of currency. If you could melt them down or somehow make them unrecognizable as pennies you could sell them as scrap copper. Other than that I have never heard of anyone paying more than 1 cent for older pennies.
2007-11-03 16:29:50 · answer #4 · answered by jon 3 · 0⤊ 0⤋
The metal value of a pre 1982 penny is about 2.3 cents using Kitco LME prices.
No one is paying a premium for them at this time and it is illegal at this time to melt them. If you intend to enterprise illegally the profit would likely not cover the energy cost to melt them in a small scale operation.
That being said it does make sense to save them because given inflation the penny will likely become obsolete as soon as 2010 unless there is a push to make them from cheaper materials like zinc coated steel or aluminum.
2007-11-04 04:17:40 · answer #5 · answered by scow_sailor1692 3 · 1⤊ 0⤋
For the best answers, search on this site https://shorturl.im/awgcc
look in your phone book for a coin seller or collector. If you can't find anyone, call a jeweler. Often they know of a place you can go. Good Luck!! I personally like the wheaties. I don't know why, but I THINK they are worth more.
2016-04-06 01:15:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I hear they sell lots of coins on ebay.
2007-11-03 16:23:28 · answer #7 · answered by hottotrot1_usa 7 · 1⤊ 0⤋
scrap yard
2007-11-04 05:48:23 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I am looking for the same answer
2015-10-28 13:25:17 · answer #9 · answered by ? 1 · 0⤊ 0⤋