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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.
The initials were restored, this time smaller, on Lincoln's shoulder, in 1918. Originally struck in 95% copper, the cent coin was changed for one year to zinc-coated steel in 1943 as copper was needed to aid in the war effort. The mint then reverted to 95% copper until 1982, when inflation made copper too expensive and the composition was ...
Canada's elimination of the penny, however, rounds cash transactions both up and down. [24] 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.
Check Your Pennies — They Could Be Worth $200,000. ... the cent was 95% copper until copper was needed for war in 1943 and the penny’s composition changed to zinc-coated steel for the year. A ...
Instead, an increasing number of people are trading dull, well-worn 30-year-old pennies by the pound. ... pennies were made up of 95% copper, with the remaining 5% being either zinc or tin. As a ...
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The Indian Head cent, also known as an Indian Head penny, was a one-cent coin ($0.01) produced by the United States Bureau of the Mint from 1859 to 1909. It was designed by James Barton Longacre, the Chief Engraver at the Philadelphia Mint. From 1793 to 1857, the cent was a copper coin about the size of a half dollar.
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