Penny for your thoughts... Is this a viable way to save?
Did you know that Lincoln pennies minted between 1909 and 1982 are actually worth 178.87% more than their street cash value? They are 95% copper and worth more melted down.
Check it out at www.coinflation.com
The Coin Melt Value Calculator says that $1000 worth of pennies is actually worth $1788.77. That’s a considerable return for any investment. Pennies minted after 1982 are mostly zinc and practically worthless.
I have little future faith in invisible electronic bank money. Even less in paper dollars. But this penny melting scheme seems viable if I can work out the storage in my garage and justify breaking my back hauling them to the furnace.
I have pennies stashed everywhere and a quick check proved that nearly half of them were before 1982. Is it worth changing dollars into pennies at the bank and returning the newer ones?
What thinks you?