Debate, and discuss, just dont Bore me.

A new report out says those pennies you toss aside, and do not even deign to pick up when spotted lying around, may soon be worth a lot more!  Why?  Because the world is running out of Copper and other precious metals.

The study tried to predict the demand for metals should the whole world be brought up to first world standards in living and technology.  And found that while the Copper reserves and supply would just barely cover the demand, other metals like Platinum would be in very short supply.

Actually this is not really new news.  We have been treated to this story before with Oil.  Where only 30 years ago we were told we only had a 30 year supply, but today we have an 80 year supply (that is called new math).  I think the same thing will happen with these metals. As the demand picks up, so will the mining and extraction methods (since the price will be higher, you can use more expensive methods).

One thing that is really not being done today due to the cost is mining salt water.  For there is a lot of every mineral on the face of the planet in the seas, it just has been too cost prohibitive to extract it in the past.  But as the prices go up, the cost will not be so prohibitive!

But I am still going to save my pennies!  One day they may be worth a lot more than just a penny!


Comments (Page 1)
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on Jan 20, 2006
Interesting.

But you know, I used to make it a habit of picking up pennies and saving them (when I was much younger). I would then cart them all over to the store and buy baseball cards. I recall that at one time I had over $10 just from pennies I had picked up and stored.
on Jan 20, 2006

But you know, I used to make it a habit of picking up pennies and saving them (when I was much younger). I would then cart them all over to the store and buy baseball cards. I recall that at one time I had over $10 just from pennies I had picked up and stored.

I have 2 gallon pickle jars full of pennies.  Been saving them since High school.  I just chuck my change in there, and let them accumulate.  After reading this article, it may be a very nice inheratance for my kids!

on Jan 20, 2006
Yeah, but pennies aren't made of copper these days. They are 97.5% zinc with a 2.5% copper plating.
on Jan 20, 2006

Yeah, but pennies aren't made of copper these days. They are 97.5% zinc with a 2.5% copper plating.

Since when?  I knew the robbed us of silver, but when did they start doing this?  I've been robbed!!!!!!!

on Jan 20, 2006
Since 1982
on Jan 21, 2006
Yeah, but pennies aren't made of copper these days. They are 97.5% zinc with a 2.5% copper plating


Ah, but if there's even a shortage of Zinc, Dr. Guy will be rolling in it!! ;~D
on Jan 21, 2006

Since 1982

Whew!  I was in high school in 70-74!  So I guess I got some real coppers! But thanks for the info! Now I know what to look for when I am saving them!

on Jan 21, 2006

Ah, but if there's even a shortage of Zinc, Dr. Guy will be rolling in it!! ;~D

Some say I already am rolling in it!

on Jan 21, 2006
Prior to 1982, pennies were made of an alloy of 95% copper, and 5% zinc. But as the cost of copper rose, a penny's worth of copper started costing more than 1 cent.

Even your older ones aren't pure copper. Sorry.
on Jan 21, 2006

Even your older ones aren't pure copper. Sorry.

I got Wheats tho!

So I do have copper!

on Jan 21, 2006
The first Lincoln cent was produced in 1909 and had the wheat ears pattern on the reverse side. The composition of the penny was pure copper from 1793 to 1837.

Dontcha just hate a smartass?
on Jan 22, 2006
Yeah, but pennies aren't made of copper these days. They are 97.5% zinc with a 2.5% copper plating.

Since when? I knew the robbed us of silver, but when did they start doing this? I've been robbed!!!!!!!


He's right, Dr. Pre-1982 pennies (PLENTY of 'em in circulation) are what you want to stockpile. They actually changes because of the price of copper.

If I were to guess, I'd say the penny doesn't have much more than a couple decades of existence, anyway, though. It's getting harder and harder to find ANY metal that can be made into a coin cheaply enough. So even your post 1982's might be collectable one day.

(for the record, I have a quart jar and a half full of pennies at present...and adding to 'em daily).
on Jan 23, 2006
Pennies are a waste of resources. The Federal Reserve should dump the whole concept.
on Jan 23, 2006
as of last thursday (1/19/06), copper was selling for roughly 2.19/lb. i heard 146 pre-1983 pennies to a pound. so you're lookin at no more than a $.70/lb profit.

the bubble may have already burst btw--if it's true the price push was fueled by the chinese trying to accumulate as much copper as possible prior to the start of their new year (something to do with upgrading their infrastructure altho why there was a time limit escapes me).
on Jan 23, 2006
My grandparents used to keep change in a HUGE glass pig-shaped container with a cork snout. The coolest thing ever. They had lots of wheat pennies, which were fascinating to me.

Here's hoping you strike it rich with pennies, hehe.
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