Can I melt down pennies and sell the copper?

It is not illegal to melt, form, destroy, or otherwise modify US coins, including pennies, unless the objective is fraudulent or with the intent of selling the raw materials of the coins for profit. Projects that use coins as materials are entirely legal in the United States.

How much is a copper penny worth melted down?

If you look at the price of copper per oz today, it is $0.27 per oz. If we take a look at coinflation (A PCGS app) the copper melt value for ONE COPPER PENNY is $0.03 So if I were to go to the bank and get ONE roll of pennies and there are, lets say 10 copper pennies in there. So 1/5 of the roll is copper.

Can you sell pennies for melt value?

Sell them on Craigslist or Ebay.

Some of them believe these stashes will be an asset when the economy collapses, some are waiting for federal laws to change to allow the melting of coins for recycling, and some of them just like old coins, but most will pay high dollar for small to moderate quantities of old pennies.

Is it illegal to melt a penny?

Many online debates have popped up over the legality of melting down U.S. coins. It is not illegal to melt, destroy, or modify any U.S. coins in the United States.

Is it legal to scrap pennies?

According to the United States Mint, melting coins down is illegal and can land you with a $10,000 fine and/or 5 years in prison. For the effort and the turnaround on the scrap value, scrapping pennies (or any other coins) is stupid and a waste of time.

Melting down your copper pennies - total process and cost involved - Is it worth it? Let's find out!

Can you scrap copper coins?

Regardless of the current value of the metal coins, you cannot melt coins to obtain their metal value. After the sudden increase in the price of copper, America established a ban on melting coins. It is strictly illegal to melt coins or export them for melting.

Is pure copper worth anything?

No. Although copper has often been used in circulating coinage, it is not considered to be a precious metal like Gold and Silver.

How many copper pennies are in a pound?

There are approximately 145 copper pennies in a pound. There are approximately 181 copper plated zinc pennies in a pound.

How much is an ounce of .999 copper worth?

An ounce of 999 fine copper is worth between $0.80 to $1 per ounce. Such a price is for copper bullion bars and rounds.

How do I sell my wheat pennies?

A certified local coin shop is an excellent place to sell your coins. The best option is to find a reputable and trustworthy dealer who can estimate a penny's value. Most coin shops will offer you a fair deal, as they depend on customers' recommendations and satisfaction.

How can I sell my old pennies?

The obvious place to sell your old coins is your local coin shop. They will be your best bet for selling low- to mid-range old coins like Wheat cents, Buffalo nickels, junk silver, and scarce silver coins and silver dollars. Check online reviews and feedback for coin stores in your area, and choose a couple to visit.

Is a penny 100% copper?

Pennies are made of zinc coated with copper. Only nickels are one solid material—that same 75% copper/25% nickel alloy. Would you like fries with that? This penny is almost as big as a half dollar...

How much does $1000 worth of pennies weigh?

1000 pennies weigh 3,110 grams or about 7 pounds if all copper. 2,500 grams or five and a half pounds if all zinc. In addition, 1000 steel cents weighs 2,700 grams or about 6 pounds.

Where can I sell valuable pennies?

How much is a 1943 penny worth?

Because they are quite common, a 1943 penny in circulated condition is not worth much. According to USA Coin Book, a steel penny from 1943 in circulated condition is worth between 16 cents and 53 cents. However, Heritage Auctions sells 1943 steel pennies in pristine, uncirculated condition for more than $1,000.

How much is a roll of wheat pennies worth?

cents worth about one to three dollars each to keep the rolls interesting for the buyer–means the lot may be worth somewhere in the $4 to $8 range.

How many pounds is 5000 wheat pennies?

Shipping Info. Your 5,000 Lincoln Pennies will ship in a canvas bag that weighs over 32 pounds. Dates will vary, and condition will range from circulated to almost uncirculated. Variety is not guaranteed.

Is it worth collecting wheat pennies?

Most wheat cents (wheat pennies were minted between 1909 and 1956) are worth about 4 to 5 cents. Those in better condition can have double-digit value. Special examples (especially those in near perfect condition) can be worth much more. Indian Head pennies from 1859 to 1879 are generally worth more than $10.

What are the 15 most valuable pennies?

How much is a 10 pound copper bar worth?

Current copper spot price is ~$2.41/lb. These 10 1lb bars are worth ~$24.10, but the price is more than $100.

How much is 500 pounds of pennies worth?

After 65 years of saving, an 81-year-old man has deposited $816 worth of pennies at his bank. KCBD has more on this story.