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Big Money From Pre-1983 Pennies

Thursday, December 8, 2011 - 7:46 AM
Do you have a lot of pre-1983 pennies? Those pennies are 95% copper which makes them worth more than a penny (currently 2.34 cents).

This ABC article looks into the business of penny hoarding. One penny hoarder mentioned in the article has 200,000 pennies. He makes money selling these pre-83 pennies on eBay. He claimed that he can make $176 from selling $100 of pre-83 pennies after shipping and handling.

There is a complication in being able to make big money from these pennies. According to the article:
It's illegal to melt pennies, and there is an obscure federal law that makes it illegal to transport more than $5 in pennies out of the country.

So how can someone profit from these pre-1983 pennies? According to the article:
If the laws change and the mint decides to abolish the penny, people would be free to melt them down for the copper.

If you want to see the current metal value of these pennies and other coins, the website coinflation.com is a good resource.
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
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