Numerous investors who buy gold and tableware bullion coins and coin collectors who study coins, have presumably no way considered collecting bobby pennies to make a worthwhile profit. You’ve presumably heard” a penny saved is a penny earned,” because the lowly penny is worth one cent. While utmost pennies are worth a stingy face value, did you know that all bobby pennies are worth double their face value?
Pennies formed from 1909 to 1982 were made of 95 bobby , and 5 zinc. You might not suppose of bobby as worth important monetarily, but it’s an extremely important essence. Bobby is extensively used in assiduity, especially in electrical, construction, transport, and numerous others areas. This is why bobby fetches a fairly good price because it’s also the stylish captain of electricity, does not blemish and is malleable. To find bobby ‘s melt value, we need to know that a pound of bobby is presently worth about$3.12. 154 bobby pennies equal one pound. So3.12 divided by 154 is about 2 cents for each penny.
Since every bobby penny’s value is 2 cents, it can be a small investment. The further bobby pennies you have, the lesser the investment. So, how do you still get a bobby penny for its face value? First, you can find pennies previous to 1982 by examining your everyday change, or you can buy rolls from banks.
In addition to the fact that each bobby cent is worth doubly as much, its numismatic value is also important. Examining the dates and conditions of each coin the way a coin collector would, might give your bobby indeed more value. But you do not inescapably need to have the knowledge of a seasoned coin collector. numerous rolls contain aged” wheat” cents which were formed before the ultramodern Lincoln cent( 1959- now). It’s easy to spot a wheat cent- look at the dates, formed between 1909 and 1959 and the rear side on which the words” ONE CENT” are centered between two stalks of wheat.
Depending on condition, wheat cents are rarer and further precious. The better the condition, the further they will be worth. When I hunt rolls, I generally find wheat cents in” good” to” veritably good” condition. These could cost a price of 10- 15 cents on eBay. It’s not uncommon to find numerous old wheat cents and bobby Lincoln/ monuments in a bank box of 50 rolls. To get a better knowledge about conditions and prices I would go online and search for” value of pennies by time“, or” what’s my coin worth.” You can also buy the rearmost” Official Red Book A Guide Book of United States Coins” which are available at bookstores or onAmazon.com.
Boxes of pennies you buy from the bank contain$ 25 of pennies in 50 rolls, which totals to,500 pennies. Unless you want to go through each roll and examine each one by one, you can buy a bobby penny sorting machine that lets you separate the bobbies from the zincs. However, you can buy a introductory “E-Z Bobby Penny genre” from$ 30 to$ 60, If you are not in a hurry to separate them. For quick sorting of lots of pennies, you’ll need a” Ryedale Apprentice Penny genre” which sells for$ 500.
Another reason to collect bobby pennies is that eventually when the Mint takes them out of rotation, it’ll be legal to melt them into bars. Bars are much more manageable to put away rather of holding on to huge jars or lockers that can contain hundreds or indeed thousands of pennies.
The awful advantage you admit when buying rolls of circulated pennies is that it will not bring you further than what you paid for. It will not bring you a cent, so to speak, because you buy all of the rolls of pennies at face value. Not only will you find numerous bobby pennies, but aged wheat pennies, which only adds value.
