I saw that copper is 3.98 a pound. So can a person sell a roll of pennies? Because then you can double your money. is that legal ?
It is currently illegal to melt coins in circulation, so be careful. Right now, US pennys minted before 1982 have a copper valur of about 2.6 cents, as they are 95% copper. Post-82 pennies are mostly zinc, and are woth about 0.6 cents. People are already hoarding the pre-82 pennies. I am, too. Its like a 50% off sale on copper! Eventually the ban on melting these will be lifted, just like the pre-1965 silver coins. You can also sell lots of pre-82 pennies on okorder, some people are paying about 2 cents per penny. I would just collect & hold though. Copper is likely to skyrocket in price over he next 5 years or so.
Technically, you can, but first you would need to separate all the elements on the pennies which would give you approximatelly less than 5% of copper. This means that you would need a huge amount of pennies just to have a pound of copper, and that would not be profitable.
In addition, it's illegal to destroy currency in the UK.
Pennies aren't solid Copper. They are 97.5% zinc, and only 2.5% Copper. It is also a federal crime punishable by fines of up to $10,000 and prison sentences of up to 5 years to melt federal reserve coins.
