Pennies & Nickels

This might be in the wrong spot but anyone else pulling pre '82 pennys & all nickels out of your change - been doing it for years now. The melt value for these coins is worth more then their face value so you can't go wrong holding on to them. They could come in handy some day if hyper-inflation hits & its the best no risk investment you can make. imho

I read an article years ago hedge funds are actually looking at buying the pre'82 penny's for their copper melt value - if I can find the article will post

Good video here explaining my point & once you start finding them in your change it gets kinda fun to look for them:

reply to post by BABYBULL24


I was recently talking with a coworker about this the other day and he had no idea. S and F for bringing it to the public's attention. The same goes for collecting old cell phones and computer parts; I'm always hearing commercials now for companies that will recycle them...because they want the gold.

So it's the pre - '82s on the pennies ? Thanks for that info. I knew there was a composition change at some point in the 80s but I didn't know when.

I've been collecting nickels and, of course, the old wheatback pennies for a long time.

Is there some way for amateurs to extract gold from computer components? I know there is a recycle market for them that does involve gold extraction. I tried to find out how to do it but the only methods I could find were either extremely expensive or extremely dangerous, or both.

An excellent source of copper is old electrical appliances and motors. Most of them come apart pretty easily and they have a lot of copper wire in them.

Just so you know:

snopes.com
In 2005, the cost to the United States Mint to produce a penny was 0.97¢, which was just a smidge under a cent. In 2006, that year's pennies each cost about 1.23¢ to manufacture. Rises in metal prices, particularly of zinc, pushed the per-unit cost up to 1.7¢ in 2007. By 2012, production costs had risen to 2.41¢ per penny.

The current price discrepancy between the value of metals in the coins and the value of the coins themselves had sparked a growing cottage industry of melting down cents to harvest for resale the copper and zinc they contain. The U.S. government has countered both by restricting the export of pennies and by making it illegal to melt them down. Coin melters could spend up to five years in prison for their plans.

reply to post by BABYBULL24


While there is no law forbidding you to hoard these coins from your pocket change,ashtray,wherever,
Pennies and Nickels are currently illegal to destroy for melt value. This is not the case with silver coins.

You may be interested in reading this link. It is from 2006, so I will try to dig up the most current
rules and legalities for you.

www.usmint.gov...

Unlike immigration, this Federal offence is stricktly enforced. Just to let you know.

More Links: www.usmint.gov... Home Page

www.usmint.gov...

This is the most current press release regarding penny and nickel melt legalities that I found.

www.usmint.gov...

Try Navigating the Home Page Link I provided for more information that might interest you.


S&F to your Thread

Interesting! I've just recently heard the Canadian government will be stopping (if it hasn't already stopped) manufacturing pennies and nickles because of the high cost of minting them. Makes me want to start hording all the coins I have. I also wonder if the pre 1982 pennies also include Canadian, I'll have to go through my coin stashes.

abcnews.go.com...

Maybe the money they save will go towards remake the sh*tty new loonies and toonies that have recently come out. They're terrible!

reply to post by seaside sky


One safe way of reclaiming gold from electronic devices is to disassemble them and physically
break off the gold components/terminals from the boards. A Channel Lock Pliers in one hand, and
a Needlenose pliers in the other work exceptionally well once you perfect the art of it. Just throw
all the gold/silicon pieces into a bucket until you meet someone with a crucible.

From what I understand,It is general practice in the industry to just shred everything and then melt it all down.
Once the impurities are poured off, the gold and other precious metals remain.
Then they are further refined and then cast into billets for market.

Remember all those TV's,Stereos,old Computers and other devices you tossed out to the dump?
Well , One mans trash was literally another mans treasure.

Along that line, a 5 gallon bucket of Soda Pop or Beer Bottle Tops, is currently worth about 15 Bucks U.S.
evidently. Haste makes waste. Best,

Hey, awesome thread! Been saving those old coins for a while now. Nice of you to bring it out to the attention for everyone.

Nah, I'm collecting parts to make a vodka still. When all goes to hell and a handbasket, vodka will be a highly tradeable commodity.

I am not advocating melting penny's - just saying keep it in your back pocket. It cost's you nothing to get change & look through it and pull out the pre'82 penny's & nickles. As for melting penny's - people have been busted for it - no doubt. Don't do it!

Peace

reply to post by seaside sky



Giant and informative thread on refining silver at home, and it has a sister thread for gold.

Dummies Guide to EASY silver bullion refining at home as a long term precious metal investment

And here is the sister thread for refining Gold. He specifically addresses the art of getting gold from electronic components.

Dummies Guide..... Gold

reply to post by Wildmanimal


Thank you for that information ! I actually have a forge and crucibles, so perhaps I could process the pieces at least as far as burning off the non-metallic stuff.

reply to post by getreadyalready


Thank you !!! I'm going to read that very carefully... I think I may have a new side business

reply to post by getreadyalready


How Fun, Thanks for that. I'll check out your provided link.

Supercool

reply to post by seaside sky


That is phenominal!

Now I know someone with a crucible who happens to be a great ATS member as well.

Magic

Best to You, Wildmanimal

Originally posted by Nukeleer
Interesting! I've just recently heard the Canadian government will be stopping (if it hasn't already stopped) manufacturing pennies and nickles because of the high cost of minting them. Makes me want to start hording all the coins I have. I also wonder if the pre 1982 pennies also include Canadian, I'll have to go through my coin stashes.

abcnews.go.com...

Maybe the money they save will go towards remake the sh*tty new loonies and toonies that have recently come out. They're terrible!

Good website for melt values of coins - gives you an up to the minute melt price for all US & Canadian coins - zinc, copper, nickel, silver & gold. The Canadian coins are top right tab under "Countries".

www.coinflation.com...

reply to post by BABYBULL24


Never accused you of such. However, I thought it might be a good idea to present that fact
to you and your readers just in case.

Regards, Wildmanimal

Respect to you as well Wildmanimal.

Peace

Originally posted by seaside sky
reply to post by Wildmanimal

 

Thank you for that information ! I actually have a forge and crucibles, so perhaps I could process the pieces at least as far as burning off the non-metallic stuff.

Look out! They could send the EPA out to sniff your fumes and cite you in that way. There is no escape from the feds when they want you in a bad way. Just ask sheriff Joe.

Please, please, please, OP, fix your apostrophes. It's embarrassing. Or tell me who Penny is and what she owns. Strangely, though, Nickel doesn't own anything.