Ads
related to: melting copper pennies for profit and loss
Search results
Results From The WOW.Com Content Network
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 ...
The typical penny is around 97.5% zinc and only 2.5% copper. Since 1982, copper-plated pennies have been made primarily from zinc. ... Freeport earned a profit of $6.9 billion last year on $25.5 ...
Canada's elimination of the penny, however, rounds cash transactions both up and down. [28] The paper stated that rather than eliminate the penny, it would make more sense to change the composition of the penny to a cheaper metal than zinc if the costs of zinc do not come down and there continues to be a significant loss per penny.
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.
The U.S. Mint lost $85.3 million last year producing nearly 3.2 billion pennies, mostly made of zinc and copper. ... “Our profit margins are already razor-thin,” he told The Journal, noting ...
An elongated coin (also known as a pressed penny or smashed penny) is a coin that has been flattened or stretched, and embossed with a new design. Such coins are often used as commemorative or souvenir tokens, and it is common to find coin elongation machines in tourism hubs, such as museums, amusement parks, and natural or man-made landmarks .
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 ...