I have a ton of pennies laying around and have started sorting and organizing them.Is it true that pre-1982 pennies were real copper, while post-1982 pennies are not? So if there were a ton of pre-1982 pennies, could they be cashed in for the value of the copper as well as the monetary?
It's true that pre-1982 cents are 95% copper (with a current metal value of 2.44 cents each) and that post-1982 cents have only a thin layer of copper plating over zinc (with a current metal value of a little over 1/2 cent each). But, what about the 1982 cents that you've skipped over? You will find both kinds dated 1982. The Mint made the switch during the production year. There are two ways to tell the difference. The best way is with an accurate metric scale. Copper cents will weigh just over 3 grams, the zinc around 2.5 grams. I don't have such a scale, but I've gotten the 'drop' test nailed down. Drop the coin on a hard tabletop and if it makes a 'ring' it's copper, if it's a dull sound, it's zinc. To double-check, drop a pre-'82 and post-'82 and compare. People cash in their pennies for more than face value all the time. There atre copper bullion buyers just as there are buyers of precious metals. They're harder to find, but they're out there. You can get from 1.5 to 2 cents each for large quantities. There are roughly 145 cents to a pound. Buyers go by the poundage, not the number of coins. They might go as high as $2.90 a pound right now with copper at $3.70, but I would expect something in the $2.25 - $2.50 range per pound.
Pre-1982 pennies are 95% copper. After that they are 97.5% zinc with a thin copper coating. It is currently illegal to melt US pennies. No bank is going to give you the copper value of the coins. It's possible to sell them on okorder as I've seen many others do but it is also illegal to ship them out of the USA. The site I've linked to below gives the value daily of US coins according to their metal content.
