posted on Dec, 27 2010 @ 11:37 AM
This issue has probably been addressed already, but here it goes.
I’ve been saving pre-Regan era pennies for many years now. U.S. minted coins before 1981 weigh 2.5 grams and contain 95.5% copper. Canadian pennies
minted between 1942 and 1979 weigh 3.24 grams and contain 98% copper. Copper Canadian pennies from 1980 and 1981 weighed 2.8 grams and ones from 1982
to 1996 weighed the same as U.S. pennies at 2.5 grams.
Right now copper prices have reached an all time high (like gold) of around $4.25 per pound and it is being hoarded by investors (also like gold).
See this Wall Street Journal Article
1 Pound = 453.5923 Grams or 181.44 Copper Pennies Per Pound (three 50 cent rolls + 32 cents).
This means that a U.S. minted, solid copper penny is actually now worth roughly 2.34 cents.
Canadian pennies minted between 1942 and 1979 are now worth 3.03 cents.
So investing in copper pennies can have over 2 to 3 times their face value. We should be getting everything we buy with copper pennies at a 50% to 75%
discount. In my opinion, copper pennies will be a valuable currency to use after the fall of the Federal Reserve note. Also, think about all the
copper the military uses in its ammo. The cashiers wouldn’t be complaining about counting pennies once dollars are about worthless!
P.S. Hold on to those nickels too, they’re 75 percent copper and 25 percent nickel, and weigh 5 grams.
edit on 27-12-2010 by
MichiganSwampBuck because: for clairity