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How many pennies does it take to make 1 lb?
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Copper is up
User ID: 93378
5/14/2006 2:51 PM
Report abusive post | How many pennies does it take to make 1 lb?
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Copper is almost $4 a lb. |
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andy thomas
User ID: 93381
5/14/2006 2:56 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
they have to be pre 1982... some 1982 ones are also 'pure copper'...
it takes about 150 pennies
4$ a pound?... someone is gonna make bukubux |
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Anonymous Coward
User ID: 90218
5/14/2006 2:58 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Twice as many as it does to make a half pound!! |
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Anonymous Coward
User ID: 62021
5/14/2006 3:08 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
But the pre-1872 penny is only 95% copper not 100%, so you would need more than a pound. |
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F.B. Nyte
User ID: 18229
5/14/2006 4:00 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
One penny has a weight of 3.11 grams
Composition .950 copper.
One gram = 0.03527 0z.
1,000 pennies = $10.00
1,000 pennies = 6.5128 pounds copper
copper was at 3.84/ lb last quote I saw.
So $10.00 worth of pre 1982 pennies,the intrinsic value of the copper of $25.01
BTW 138.5727 pennies are required to extract one pound of pure copper. |
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Anonymous Coward
User ID: 93300
5/14/2006 4:03 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Anyone know anywhere where you can 'buy' pennies? I hear you can get them at banks but they charge a fee... |
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Anonymous Coward
User ID: 85300
5/14/2006 7:38 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
I had a 1000 rolls of copper penies back in the 80s (cause I thought the price would go up, it didn't), I dumped them at the same price I bought them; one cent each.
You stop and think, 1982 to 2006, thats a long time to go without having to bust a piggy bank.
But it is a good measure of inflation over 25 years, $1.50 to $4.00 = 266%.
And don't forget the dollars you'd get for them in 2006 are themselves worth at LEAST 266% less. This is why saving money has not been popular lately. |
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Anonymous Coward
User ID: 85300
5/14/2006 7:42 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Oh by the way scrapping coinage is illegal. |
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deepend nli
User ID: 33215
5/14/2006 7:43 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Scapping coinage is not illegal if it increases the value of the coinage. Look at necklaces made of quarters, etc. |
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Anonymous Coward
User ID: 93493
5/14/2006 8:42 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
33215
What planet do you live on? |
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Anonymous Coward
User ID: 274400
7/29/2007 6:19 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Actually, what state do you live in might be a more relevant question.
digitalattorney@gmail.com |
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Anonymous Coward
User ID: 272574
7/29/2007 6:33 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Pennies are 3%-5% copper and 95%-97% zinc.
The copper covering is so thin, you can scrape it off with a paper clip.
It would probably take $20 to $30 in pennies to get your $4 in copper. |
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Anonymous Coward
User ID: 261550
7/29/2007 6:42 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Anyone know anywhere where you can 'buy' pennies? I hear you can get them at banks but they charge a fee... Quoting: Anonymous Coward 93300
Anticipating this, the government just passed new laws with very stiff penalties for melting any US coins. |
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joejones
User ID: 274412
7/29/2007 6:48 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
This is not good. Consider the fact the I being an electrician will have to pay a ridiculous price for wire now just as I did a year ago. Now that cost will be sent onto the customer which in turn raises the price for the job and makes the customer think twice and most likley cancel until the price can be lower. Same thing goes for plumbing and Phone/Cable installers. Everything is going to go up. Job market will go down. Work is slow right now as it is and this will make it far worse. Not looking good at all. But the economy is in good shape right? Riiiight....... |
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gsbltd
User ID: 274436
7/29/2007 8:09 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Here in KS this summer there was a theft in a house where the owners were gone for an extended vacation; the thieves went in and stripped the entire house of every copper pipe and heavy electrical wire they could get a torch to or cutters around -even tore out walls to gain access. |
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EXCALIBUR
User ID: 274452
7/29/2007 9:22 PM | |
wing-ed
User ID: 152412
7/29/2007 9:29 PM
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WASHINGTON — The next time someone offers you a penny for your thoughts, you might want to take them up on it.
For the first time in U.S. history, the cost of manufacturing both a penny and a nickel is more than the 1-cent and 5-cent values of the coins themselves. Skyrocketing metals prices are behind the increase, the U.S. Mint said in a letter to members of Congress last week.
The Mint estimates it will cost 1.23 cents per penny and 5.73 cents per nickel this fiscal year, which ends Sept. 30. The cost of producing a penny has risen 27% in the last year, while nickel manufacturing costs have risen 19%. [link to www.usatoday.com]
Holy, holy,holy, Lord God Almighty, which was, and is, and is to come.Praise the one who gives you peace beyond all understanding |
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Anonymous Coward
User ID: 274499
7/29/2007 10:59 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Me thinks it is at about $3.75 to the british pound. |
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GoodInEverything
User ID: 271982
7/29/2007 11:01 PM
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I have ABSOLUTELY no idea... but I may count sometime if I'm ever feeling bold. 
User Image: [link to img509.imageshack.us]
Email: cavysavy@yahoo.com |
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Anonymous Coward
User ID: 264344
7/29/2007 11:02 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
33215
What planet do you live on? Quoting: Anonymous Coward 93493
hey...if i bring my gold to say...neptune and sell it, will i get a lot more money for it since its heavier?
ah i guess not. its that whole mass vs weight thing from high school. |
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Anonymous Coward
User ID: 274288
7/29/2007 11:09 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
Wow you people must be broke to be thinking of stuff like this... man... go make some darn money...
 |
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wing-ed
User ID: 152412
7/30/2007 12:05 AM
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Wow you people must be broke to be thinking of stuff like this... man... go make some darn money...
Take pennies from the bank to the scrap yard?
Holy, holy,holy, Lord God Almighty, which was, and is, and is to come.Praise the one who gives you peace beyond all understanding |
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oh boy!
User ID: 274163
7/30/2007 12:19 AM | |
Anonymous Coward
User ID: 274529
7/30/2007 12:21 AM | | Re: How many pennies does it take to make 1 lb? | Quote |
Scratch a pennie with a file...you'll see how much copper is really there. |
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Anonymous Coward
User ID: 274163
7/30/2007 2:39 AM | | Re: How many pennies does it take to make 1 lb? | Quote |
Scratch a pennie with a file...you'll see how much copper is really there. Quoting: Anonymous Coward 274529
open your skull and see how little brains are there |
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Ryedale
User ID: 307473
10/4/2007 1:31 AM | | Re: How many pennies does it take to make 1 lb? | Quote |
It takes about 150 pre 1982 pennies to make 1 pound of pure copper. So $1.50 for something that is worth 3.75 in todays strike price on Kitco. www.kitcometals.com
Nice thread here. I collect copper pennies. Have almost a ton now. |
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Ryedale
User ID: 307473
10/4/2007 1:35 AM | | Re: How many pennies does it take to make 1 lb? | Quote |
Wow you people must be broke to be thinking of stuff like this... man... go make some darn money...
People that think of opportunities like this, are the most likely to become wealthy. I have met millionaires from all over the country who are sorting pre 1982 pennies out of circulation.
Peter Schiffs new book "Crash Proof" talks of hoarding them as later they will trade like Pre 1964 90% silver coins. Page 248. |
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Geode
User ID: 303087
10/4/2007 1:53 AM
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I have many hundreds of pounds of them as I knew they would be worth a lot more in the future. Once you know how the fiat money masters work, it didn't take a genius to figure out. They also block radiation almost as well as lead, so if there ever is a dirty bomb, or heaven forbid a nuke in my vicinity, I'll stack boxes of them around and on top of my dining table and have a decent fallout shelter (which is more important here in Cali where houses don't have basements). |
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Megadeth
User ID: 306491
10/4/2007 2:02 AM | | Re: How many pennies does it take to make 1 lb? | Quote |
Much better would to be a hedge bet on silver rising, stack up a few kilo's of silver.
I'd also say a long term few on uranium too, although you cannot stack up uranium in your home unfortuantly. |
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bb
User ID: 366318
2/1/2008 6:55 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
pennies only have abouy 5%copper 95%zinc i am tring to find out how many pennies it takes to make a pound for it's monatary value |
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Anonymous Coward
User ID: 326961
2/1/2008 6:58 PM | | Re: How many pennies does it take to make 1 lb? | Quote |
1lb=16oz
1 penny weighs 0.08825 oz
1 lb=182 pennies |
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