Valuable Old Copper Pennies
Actually accumulating enough real copper pennies to make the effort worth it does take hard work and dedication. However since the value of copper has shown considerable and notable increases, it has drawn the attention of interested people from all over the country. The important aspect to focus on is the content of which the pennies are made of. You will not do well collecting zinc pennies, you have to stay focused on copper pennies because that is where the real value is. The selling price you could potentially get after you buy copper pennies can be much more than the face value of the coin.
This really is not a big deal unless you have lots of these, and are actively pursing what is known as penny hoarding. Yet not all pennies are created equally. The copper pennies worth collecting are the ones produced from before 1983. However, as you know if you are a collector, plenty of those old Wheat pennies are going to have considerable numismatic values which are beyond the value of the copper within them. They need to be treated differently when you are sorting through all the pennies which you collect. Hoarding involves setting the Wheat pennies aside into their own piles as they are sorted so that you can carefully go through them and organize them by year, condition and mint mark. They can represent a much higher value thus they are definitely worth keeping an eye out for.
To accurately place a current value the copper pennies, you have to tie them to the current price which copper is trading at as a commodity. Since it is only the copper which penny hoarders are looking at (besides the coins with more numismatic appeal), the primary focus is on the melt value of the pennies. In recent years the value of the copper has reached in the neighborhood of three times the face value of these copper cents.
This is just one of the really exiting parts of penny hoarding besides collecting valuable coins. After all, it is not that uncommon to find rare examples like the 1909 VDB in a roll you are sorting through if you do enough of it for instance. Here are some more valuable pennies by date.
This is the part that keeps many of us focused on collecting as many of these coins as we can. But keep in mind the fact that it is illegal to melt down pennies. The idea which people involved with penny hoarding has always been due to the increases in the value of copper pennies, when they are able to be melted down legally, the returns on their investments can be potentially significant. Ultimately, since the pennies made before 1983 contain 95% copper, they hold tremendous potential as a source of copper when they are collected in larger quantities.
With some effort put towards collecting copper pennies and some time put into sorting through them, the returns can be potentially worth it. Not everyone sees it this way though since after all we are just talking about cents. However these cents can be turned into dollars by the people who are actively gathering and hoarding pennies at this time.