A double your money investment

[Jerry]

I curiously searched the internet for info on copper prices wondering what pennies are worth if you scrapped them out.

I find out 1000 pennies ($10 worth) weighs 6.25 lbs. and are 88% copper resulting in 5.5 lbs of copper. Copper spot price today is $4.28 per lb. which comes out to $23.54 for the 5.5 lbs of copper in the pennies you bought for $10.

And who knows the scrap yard may give you something for the 12% zinc

Here is my plan... Buy a 30 ton dump truck for $100K, fill it with pennies, haul them to the scrap yard and make $712K profit and make a planter out of the truck.

[oldfrat]

That will be more like a $702K and 5 years of free room & board as there is a $10,000 fine and 5 years in prison for melting US currency.

[Uncle Jesse]

I believe Will Rogers said "The best way to double your money is to fold in in half and put it back into your pocket."

[Kerry Stratton]

That will be more like a $702K and 5 years of free room & board as there is a $10,000 fine and 5 years in prison for melting US currency.

I have a feeling they would take the 702K too because it is an ill gotten gain. Likely you will be out the truck also. So no planter. Bummer. Sounded good at first.

[Marco]

Jerry,
NO scrapper would give you "what it's worth" anyway. Much like the current "WE BUY GOLD" scams, the amount paid to the victims is about 50-60% of the actual value. Sellers BEWARE! The ones who "double" their investments are the buyers NOT the sellers.

Mark

[ducksterman]

The last time I checked ...if you drilled a hole in one it would be worth 4x the penny......as a washer.

[ohiotuber]

Jerry,
NO scrapper would give you "what it's worth" anyway. Much like the current "WE BUY GOLD" scams, the amount paid to the victims is about 50-60% of the actual value. Sellers BEWARE! The ones who "double" their investments are the buyers NOT the sellers.

Mark

BINGO!!! Sorta like baseball card collecters...They will NEVER get what the card is "said" to be worth.
Mike

[Panman]

I curiously searched the internet for info on copper prices wondering what pennies are worth if you scrapped them out.

I find out 1000 pennies ($10 worth) weighs 6.25 lbs. and are 88% copper resulting in 5.5 lbs of copper. Copper spot price today is $4.28 per lb. which comes out to $23.54 for the 5.5 lbs of copper in the pennies you bought for $10.

And who knows the scrap yard may give you something for the 12% zinc

Here is my plan... Buy a 30 ton dump truck for $100K, fill it with pennies, haul them to the scrap yard and make $712K profit and make a planter out of the truck.

According to the US Mint in 1982 they changed the composition of the penny to 97.5% zinc and 2.5% copper.

Tim

http://www.usmint.gov/about_the_mint...ion=fun_facts2

[Grubb]

I have a small Jar full of wheat pennies, wonder how much copper is in them? lol

[ohiotuber]

I have a small Jar full of wheat pennies, wonder how much copper is in them? lol

Tim.....It ain't the copper, sell the WHEAT!!!
Mikey