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Hoarding pennies



 
 
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  #11  
Old May 12th 06, 09:10 PM posted to rec.collecting.coins
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Default Hoarding pennies

e wrote:
has anyone actually sold pennies to a scrapper? that is the story i
want to know.


If I were a scrap metals dealer, I'd look very suspiciously at a big
pile of pennies. I wouldn't want to sort them myself - and I wouldn't
want to take the seller's word that they're all pre-1982.

In other words, in addition to the cost of processing them, it *seems*
like you'd have to accept a lower value because of the "zinc risk".

--
Jim Seymour
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  #12  
Old May 13th 06, 04:38 AM posted to rec.collecting.coins
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Default Hoarding pennies

If you were a person that needed small quantities of bronze, like a
sculptor, it would make perfect sense to get it for half price by
sorting through one-cent coins.

Today I went to buy a drink at a local strip mall. The total was
$1.73 . I gave the cashier $2. She gave me back a quarter and one
penny. It was a 1966. That was the last penny in the register. So
then she reached into the tip jar and pulled out the second penny and
handed it to me. It was a 1943-D steel cent !

The ironic part is that the 1966 (because of the price of copper) is
probably worth more than the 1943-D.
And the even more ironic part of the whole deal is that while being
enamoured with the two pennies, I failed to notice that the quarter was
actually a recent-vintage product of Canada. So I actually lost money
on the whole deal.

 




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