Pennies have various metals in them. What would they be worth if melted down and sold as separate commodities. For extra credit – what price would the Penny components have to rise to, to make melting them and separating the metals profitable?
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2 Responses
It cost the US Mint 1.3 cent to make 1 cent; therefore, there are lots of people wants the US Mint to get rid of the 1 cents.
1982 to 2008 : penny are make of 97.6% zinc, 2.4% copper
PRE 1982 penny are make of 95% copper.
As of Jun 29, 2006 , the price of copper is $3.42 per pound and zinc is $1.50 per pound. At these prices, the pre-1982 copper cent contains 2.204 cents worth of copper metal, it is now potentially profitable to melt them down.
Posted on July 31st, 2010 at 8:37 pm
Copper pennies would follow the price of copper.
Posted on July 31st, 2010 at 9:03 pm