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| The Penny's Future is Uncertain |
The economy is not good right and Americans are very creative, hard working and entrepreneurial. This is causing Americans to do seemingly odd things to make profit.
You cannot recycle a US copper penny as only the mint is legally allowed to melt the currency. It is a Federal offense to melt any US currency for sale despite the copper penny being worth less than it's face value. The Federal mint is losing money on every copper penny it mints and keeps in circulation today, which is one of the strongest reasons for ending it's circulation.
Yet, some are hoarding the pennies and waiting for the day for the US Mint and Congress to allow the melting of pennies.
Penny hoarders are opportunists. There are a slew of listing for pennies in bulk on eBay, but what's amazing is they include listings for $10 in pennies being sold for $20 dollars. If you think only a sucker would pay two cents for a penny, you're missing out on a business opportunity. Pennies dated from 1982 and earlier are more valuable because those are the coins made with 95 percent copper. A copper penny is worth more than other pennies -- now mostly made of zinc -- currently priced at $0.024.
It will take more than pennies.
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