Monday, May 20, 2013

Valuable Pennies

By Sienna Nalin


When it comes to collecting coins and pricing coins, many people question should they collect pennies and if they have any value. Well yes, pennies do depending on when they were made and with what. Hopefully you will learn a bit about rare pennies and if you should or should not start collecting coins from this article.

Amassing coins is no longer just for collectors. Given the continued down state of the economy investors are collecting coins, and even rare pennies for financial gain, and many investors turn to gold and silver bullion coins for financial protection. This is because bullion coins are used as a safe haven against high inflation and other ills caused by a sluggish economy. Still, many are seeing what coin collectors have always known, that collecting rare coins and rare pennies can be quite a lucrative venture.

With the state of the economy the way that it is, people are looking at all coins possible, even pennies. Hoarding pennies is becoming a huge trend among those that know what to look for and what will make a nice profit. To do this though, one must be very knowledgeable on what is what.

American Open Currency says that the reason pennies are becoming popular is because some of them are made with different metals which make them have a different melt down value. Pennies also have their average face value as far as buying goof and services go. One of the main things that make pennies marketable is that some are really rare based on the date they were issued and how many were minted.

Pennies coined today are made of 97.5 percent zinc and only contain 2.5 percent copper meaning their intrinsic value is very low and comparable to paper money. On the other hand pennies minted from 1909 until 1982 are in a completely different class altogether, because they were coined with 95 percent copper and only 5 percent zinc. Currently, copper trades at about $3.72 per pound making these pennies worth about 2.5 cents each. To put it differently, if you have $100 worth of pre-982 pennies the copper value of the coins is $250.

Yes, it is completely understandable that looking at every penny you come across is a strenuous activity to be doing. Melting down those pennies is even harder and at the end the extra change is not really worth it. Now is you were able to get your hands on a 1943 penny, you hit the jackpot. This penny is worth $82,000. In general when collecting coins your best bet is to look for collectible coins because those coins have much higher demand and a bigger market.

...More at The Real Worth Of Pennies

If you are lucky enough to have a 1943 penny, I wish I were you because of the money that you could get for that. Collecting pennies is something worth giving a try if you already are collecting other coins.




About the Author:



No comments:

Post a Comment