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‘Penny Hoarders’ Could Cash in on Thousands of Dollars

Posted by Mr.Copper @ 14:46 on March 21, 2020  

Part:

Inside a shed next to his house, Henry has orange tubs filled with 200,000 pennies, and he spends hours sorting through roll after roll of the coins. But it’s not just any and all pennies, Henry is only interested in those that are dated from 1982 and earlier because those are the coins made with 95 percent copper. A copper penny is worth more than other pennies.

It’s illegal to melt pennies an there is an obscure federal law that makes it illegal to transport more than $5 in pennies out of the country.

Penny hoarders know this of course, but they also know something else. In what could be the biggest legislation to hit the U.S. Mint in 50 years, officials are now looking at the composition of pennies and nickels and considering an overhaul.

If the laws change and the mint decides to abolish the penny, people would be free to melt them down for the copper.

https://abcnews.go.com/Business/laws-change-penny-hoarders-cash-thousands-dollars/story?id=15076522

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.