Ardent Listener
13th April 2006, 22:51
Is anyone hording their pennies? Pre-1982 U.S. copper pennies that is. At today's copper prices a pre-1982 penny is worth over 1.5 cents. The problem is to sort them out from the zinc post 1982 ones. In additon, storage is a problem. But I can dig a hole in my back yard. :lol: Hey, don't laugh too hard. :lol: They laughed at me when I saved my 90% silver coins when I was a kid. :wink: http://upload3.postimage.org/100848/coppercoins.jpg (http://upload3.postimage.org/100848/photo_hosting.html)
The illustration I uploaded calls the zinc coins "garbage". Of course zinc is not garbage. It will just take longer for a zinc penny metal value to become more than its face value.
*"Cash prices for copper, used in making pipes, may average 5,590 a metric ton or $2.54 a pound, this year from $3,681 a ton last year Macquarie Bank analysts said in an April 13 report. The bank raised its copper price forecast by 15 percent from an earlier prediction.
Copper and zinc reached records recently in London as metal producers struggle to meet demand led by China amid declinind stockpiles and mine stoppages. Marquarie revised its prediction of a global surplus of refined copper for this year to a deficit. It raised its copper price forecasts for 2007 to 2010 by between 8.3 percent and 48 percent.
The bank increased its 2006 zinc prices forecasts by 4.7% to $1.23 a pound, or double last year's average price of 62.6 cents on the London Metal Exchange. Zinc is used to galvanize steel."
* source is Bloomberg.com:Europe.
The illustration I uploaded calls the zinc coins "garbage". Of course zinc is not garbage. It will just take longer for a zinc penny metal value to become more than its face value.
*"Cash prices for copper, used in making pipes, may average 5,590 a metric ton or $2.54 a pound, this year from $3,681 a ton last year Macquarie Bank analysts said in an April 13 report. The bank raised its copper price forecast by 15 percent from an earlier prediction.
Copper and zinc reached records recently in London as metal producers struggle to meet demand led by China amid declinind stockpiles and mine stoppages. Marquarie revised its prediction of a global surplus of refined copper for this year to a deficit. It raised its copper price forecasts for 2007 to 2010 by between 8.3 percent and 48 percent.
The bank increased its 2006 zinc prices forecasts by 4.7% to $1.23 a pound, or double last year's average price of 62.6 cents on the London Metal Exchange. Zinc is used to galvanize steel."
* source is Bloomberg.com:Europe.