How much is a penny before 1982 Worth?
So a penny produced before 1982 is worth 2.2 cents based on the metal it contains. In 2007, the U.S. Mint implemented outlawed melting down pennies for profit.
When did they change the content of the Penny?
In 1982, the content of the penny was changed, moving from mostly copper to the copper-clad zinc coin used today. That’s why the penny investors want coins minted before 1982.
Should you buy pre-1982 pennies for their copper value?
Taking pennies out of circulation and collecting them is one thing, but paying a premium to buy pre-1982 pennies for their copper value is another, and for most investors, it would be a Stupid Investment of the Week.
Why aren't pennies made out of copper anymore?
"The price of copper moved up so much during the late 70's, they no longer could afford to use copper as the main base metal," said Ron Mirr, Owner of Liberty Coins. So for the past 30 years, pennies have been made with an alloy comprised of 97.5% zinc and 2.5% copper, but pennies minted before 1982 are 95% copper and 5% zinc.
Why do pre 1982 pennies weigh more?
Upon changing the composite from solid copper to the zinc and copper alloy, so to did the weigh of the coins themselves. Prior to 1982, a penny made completely of copper was significantly heavier than the zinc and copper alloy counterparts.
Why do pre 1982 pennies have a different density when compared to post 1982 pennies?
Before 1982, pennies were 95% copper and 5% zinc. Then after 1982, the compostion was 97.6% zinc, and 2.4% copper. So this means that the pennies made before 1982 will have a different mass from those made after 1982.
Are pennies before 1982 more dense?
From 1959 through to 1981, the U.S. Mint produced more than 130 billion pennies. Then, in 1982 the Mint introduced a penny that is 97.6 percent zinc and only 2.4 percent copper with a density of 7.2 g/mL.
How much did pennies weigh before 1982?
The modern Lincoln pennies minted since 1983 weigh 2.5 grams or 0.088 ounces. They consist of 97.5% zinc and 2.5% copper. The older Lincoln pennies minted before 1982 weigh 3.11 grams and consist of 95% copper.
Why do different pennies have different masses?
Since 1982, U.S. pennies have been produced with 97.6% zinc with a thin plating of copper. Since each metal has a different density, pre- and post-1982 pennies have different masses. A mixture of pre- and post-1982 pennies will represent the naturally occurring mixture of two isotopes of an imaginary element.
When did pennies change weight?
1983In 1983 the composition of pennies in the United States was changed due, in part, to the rising cost of copper. Pennies minted after 1983 weigh 2.50 grams while the earlier copper pennies weigh 3.11 grams.
How does the composition of the penny differ pre 1982 compared to post 1982?
The composition of US pennies changed in 1981-82. Pre-1982 pennies are mostly copper and pennies made after 1982 are mostly zinc. Sort pennies into pre- and post- 1982 piles. Pennies made in 1982 could be either alloy, depending which mint made them.
Which US coin is the heaviest?
2019 Apollo 50th anniversary 5ounce silver dollarThe largest coin ever minted by the US Mint was the 2019 Apollo 50th anniversary 5ounce silver dollar, weighing 155.517 grams, and 76.2 mm in diameter.
How can you tell the difference between copper and zinc 1982 pennies?
Zinc pennies have sort of a flat "clunk," whereas copper pennies have a higher-pitched, more melodious "ring" sound. Once you have a good feeling for how each type sounds, start dropping your 1982's one at a time, listening for the sound they make, and you should be able to sort them out by metal composition.
What penny is worth $10000?
Pennies Worth BIG MONEY Found In Circulation. 1999 Penny Sells For $10,000!
What are the 7 different 1982 pennies?
The metallic composition and obverse master hub changes ultimately led to the creation of seven different types of 1982 business-strike Lincoln cents, including:1982 brass large date.1982 brass small date.1982 zinc large date.1982 zinc small date.1982-D brass large date.1982-D zinc large date.1982-D zinc small date.
How much does a $50 bag of pennies weigh?
Then there’s the problem of storing all of those pennies. A $50 bag of pennies weighs a bit more than 30 pounds.
How many pre-1982 coins are needed to make a pound of copper?
You need roughly 155 of the pre-1982 coins to make a pound of copper. And with copper trading for more than $2 a pound — and as much as $4 a pound a little over a year ago — there’s definitely some economic merit in hoarding the coins if every $1.55 is worth $3 or more. But there’s a difference between taking pre-1982 pennies out ...
Why is the case of the penny compelling?
The case of the penny is compelling, because everyone has pennies and can relate to the most common of coins. Moreover, the math behind the move to buy pennies looks compelling. The real question is one of practicality. The case for buying pennies goes like this:
When did the government stop minting coins?
In 1964 , the government stopped minting coins that had 90 percent silver content, which prompted many people (again, myself included) to keep pre-1965 coins. The value of those coins rose dramatically, in part for their metals value and in part for their collectible value.
Is the penny worth less than one cent?
James DiGeorgia, editor of the Gold and Energy Advisor newsletter, says the current opportunity is a particularly good one for the small investor, the person who wants a safe investment that includes a floor price — because the penny will never be worth less than one cent — and good potential. “This is an opportunity just like what happened ...
Composition of the Penny: A History
We think about pennies as being made from copper. However, today, the cent is mostly made up of zinc. Throughout the history of the penny, there have been different compositions. The United States Mint offers a history of the penny's composition:
Why are Pre-1983 Pennies Popular?
Pre-1983 pennies are popular because they have a higher copper content. As a result, many investors are interested in using these coins as part of an effort to invest in tangible base metals.
What were the 1982 pennies made of?
Some 1982 pennies were made out of copper and some out of mostly zinc. The only way to tell is to weigh them. Since I didn’t have a good enough scale, I counted all of the 1982 pennies as copper pennies so the percentage of copper pennies could be slightly smaller depending on how many of the 1982s were actually zinc.
Can you buy pennies and melt them down?
The idea put forth is not to buy pennies or nickels and melt them down but to wait until the difference between the face value and the melt value is so great that they become collectors items, just like silver (pre-1964) nickels and quarters.
Do you buy copper coins at face value?
You buy the coins at face value, assuming that the price of copper will continue to rise (which it probably will) and hold onto them until the U.S. government decides that it’s too expensive to continue to mint them in copper and switches to something cheaper such as zinc.