Coppergeek.com is your guide to saving copper pennies. Our goal is to enlighten the masses that our governments are debasing our money through inflation, and the cheapest way to protect yourself is to save your coins for their melt value.
United States pennies, until 1982 were made of 95% pure copper. In the late 1970s and early 1980s, inflation was rampant – the prices gold and silver and other commodities like copper were peaking. The penny was costing more money to mint than it was worth. The US mint switched to using 97.5% zinc in the pennies.
This is similar to what happened with the silver in US coins in the 1960s. The price of silver made the coins’ silver content worth more than the face value of the coins, so the US mint in 1965 took the silver out of the coinage. People quickly began saving all the silver dimes, quarters and half dollars they could find still circulating. Today those coins are worth 30 times their face value and rising dramatically!
The pre-1982 copper pennies are still in circulation, and because we are now in a period of heavy inflation again, the price of copper has soared. Every penny in circulation that was made before 1982 is now worth 3 cents in copper melt value. There will come a day, perhaps decades away, perhaps sooner, that today’s coins like the US copper penny will be worth 30 times face value. It is currently not legal to melt US copper pennies for their metal content, however most penny hoarders believe these laws will eventually be lifted, just as they were for silver coins that were taken out of circulation. You have the opportunity today to stash away as many of these copper pennies as you can at face value. This is like having a time machine and going back to the early 1960s and telling your family to save all the silver coins they could get their hands on because they will increase dramatically in value.