How to make a penny worth two cents.

In the middle of 1982, the US mint changed the composition of a penny from 95% copper and 5% zinc to 97.6% zinc and 2.4% copper. The change was made to reduce the cost of the raw metal back down closer to one cent. Every penny made before 1982 is still made with more then one cent worth of copper.


How much is the older penny worth?

We know that a penny from 1962 to mid 1982 weights about 3.04 grams and copper on the open market goes for $2.97175 per lbs. (as of 03/15/2007).

After a good talk with our BFF, “OMGMATH” we see each penny can be melted down and sold for almost $.02 at current copper prices. Now that you have all your old pennies collected, you have to find somewhere to sell them. Find your local recycling center and ask them about selling scrap copper. They will give you a price that you will find to still be above one cent per penny. The trick to selling these pennies as scrap is you have to melt them down into blocks or bars before you take them to the recycling center.

Most people will think at this point that melting of metal is beyond their ability. You can make a simple forge out of a shop-vac and store bought charcoal with the ability to get hot enough to melt copper (about 1083 degrees Celsius). There are tons of resources online. Pick one and go with it.

Keep in mind, destroying us currency is illegal, but thats only because they are haters and don't want you to get paid!

Resource for copper prices found HERE