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When copper reached a record high in February 2011, [46] the melt value of a 95% copper cent was more than three times its face value. As of January 21, 2014, a pre-1982 cent contained 2.203 cents' worth of copper and zinc, making it an attractive target for melting by people wanting to sell the metals for profit.
In some cases, while the nominal value of the coin may be smaller than that of a US cent, the purchasing power may be higher: South Korea stopped minting ₩1 and ₩5 coins, but ₩10 coins (worth about US$0.01) are still minted with changing composition and used only in supermarkets. Some countries in the Eurozone use one and two-cent coins ...
From 1793 to 1857, the cent was a copper coin about the size of a half dollar. The discovery of gold in California caused a large inflation in prices. As gold became more abundant, the price of copper rose. Cent and half-cent manufacture was one of the only profit centers for the Mint and by 1850 it began looking for alternatives.
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 ...
While most aren't worth much more than, well, a penny, there are others worth a lot more. ... the U.S. switched to zinc-coated steel to help save copper during World War II. More than one billion ...
The metal in a silver dollar was worth more as bullion than as money above $1.2929 per troy ounce; the smaller coins would be attractive for the melting pot above $1.38 per ounce. [ 9 ] Beginning in 1934, the price of silver in the United States was effectively set by the government as it would support that price through purchases and sales of ...
The Flying Eagle cent may not be as rare as the 1943 Lincoln cents, but they are still worth more than six figures. More than 600 of these coins were given to politicians and others during the ...
The first official mintage of the large cent was in 1793, and its production continued until 1857, when it was officially replaced by the modern-size one-cent coin (commonly called the penny). Large cents were made of nearly pure copper , or copper as pure as it emerged from smelting , without any deliberate addition of other metals (such as ...