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A penny, on its face, is worth one cent. $0.01 U.S. dollars. On the other hand, that same penny -- if melted down for the copper it contains -- could be worth quite a bit more. Due to the fact ...
Currently, pennies are 97.5% zinc and 2.5% copper, and at current prices of those metals, each new penny has a theoretical "melt value" -- what you'd get if you melted down pennies and sold the ...
You can also try selling your copper coins on Ebay or Craigslist to investors who are betting that the law against melting copper coins will one day change, therefore opening up a whole new market ...
This leads to the possibility of smelters taking coins and melting them down for the scrap value of the metal. Pre-1992 British pennies were made of 97% copper; but as of 2008, based on the price of copper, the value of a penny from this period is 1.5 new-pence. Modern British pennies are now made of copper-plated steel.
This caused the Royal Australian Mint to continue minting 50c coins from 1969 onwards to be dodecagonal and with copper-nickel. [7] These original 1966 50c coins are now extremely rare to find in circulation and in coin rolls. $1 and $2 coins were introduced in 1984 and 1988 respectively, so there are more newer coins.
These coins are graded with a description which lowers the coin's value by 90%. [14] [16] Dipping: The coin is dipped into a dilute acid solution that removes the oxidation from the coin along with a small amount of metal. Overdipped coins result in loss of luster which lowers the coin's grade and appeal. [12] [9] Ivory soap and Water
The older pennies such as the Indian head cent (1859-1909) and the wheat cent (1909-1958) are valued for their copper content as well as their intrinsic value. Any penny minted before 1982 ...
Rising world prices for copper had caused the metal value of the pre-1992 copper 1p coin to exceed 1p (for example, in May 2006, the intrinsic metal value of a pre-1992 1p coin was about 1.5 pence). [18] Melting coins is illegal in the United Kingdom and is punishable by a fine, or up to two years imprisonment. [19] [20]