Sunday, March 11, 2012

Common Cents

Did you know that some pennies are worth more than others? I'm not talking about the pennies with numismatic value like the 1955 double die cent or the 1909-S VDB penny. I'm talking about the metal content of the penny. Pictured above is a clear picture of a 1974 penny, (if you think this penny appears "blurry" you might want to have your eyes checked). This little penny as of March 9, 2012 is worth 0.0252822 cents as it is 95% copper. Just think, if you collect pennies like this and others minted in 1982 and before, the metal value is 252.82% more than the face value. Pennies minted after 1982 are 97.5% zinc are worth 0.0055275  or only 55.27% of the face value.

So, collecting certain common pennies can give you a metal value return of WAY more than what banks currently  pay in interest. Does collecting these pennies make sense? When someone tells you, "A penny for your thoughts?" You should reply, "I only give up my thoughts for pre-1982 pennies as the newer pennies just aren't worth my thoughts based on the recent commodity price fixing closing prices for copper at the Chicago Mercantile Exchange".

If you do decide to start collecting these pre-1982 pennies and then tell your friends about this your friends may say about you to people they meet;"He's not real smart but he does have a lot of common cents."