Copper coins

[joe-90]

Is it time to get rid of copper coins? One or Two pence is hardly here nor there.

 

[Susiejb]

...excellent idea Joe...I have a box full....only ever use them for playing cards.

 

[Djnikon]

Joe, good idea, to take it one step further though, is physical money dying out all together?
Do many people actually carry cash much these days? I know I find it easier just to pay by card these days.

 

[Barnsbury]

Very rarely use or even carry cash. Have some bits and pieces in the car for parking.

The exception, when going out for a pint. Cash is easier.

 

[Bodgeitandleggit]

I agree.... they are worthless and just lie around in drawers /jars ect... in fact they are worth more in scrap value than currency value so if they got melted down the mint could make a mint

 

[breadnbutter]

All copper coin donations accepted

 

[big-all]

suggest you take a magnet to them they have not been pure copper for years

 

[Bodgeitandleggit]

suggest you take a magnet to them they have not been pure copper for years

Correct big-all I was thinking pre 1992 ones....this is a copy+paste

So, now a way has emerged for the more humble investor to make a killing on the international markets. Yesterday the price of copper hit an all-time record of $8,000 a tonne, driven by frantic buying and selling by commodity brokers and futures traders. But a little-noticed fact is that every 2p piece made before 1992 is 97% copper - meaning that each coin contains 6.9g of the metal. Collect together 145 of them, and you've got a kilo's worth of copper. Now, just find another 999kg, a total of 145,000 coins, and you've got a tonne.

On their face value, those coins are worth just £2,900. But taking them to a scrap merchant and selling them on the open market for their metal content will make you a cool £1,500 profit, especially if you throw in the 25kg of zinc that are also sitting in your goldmine of loose change. The same trick can be pulled off with pennies, so long as they were circulated before September 1992, when the Royal Mint introduced new 1p and 2p coins made from steel with only a thin copper plating. For a 50% return on an original investment, that's very good even for the likes of George Soros

 

[ladylola]

Isn't scraping of coins a criminal or at least illegal act?
Personally I'm all for keeping coppers money is money after all and the best thing is all those daft sods who look at them as being next to worthless and throw them away on leaving the shops are only helping to fill my bank account bit by bit

 

[joinerjohn]

When I worked for the local council, I had to go to a school almost every day (replacing windows, doors, etc) The caretaker there used to pick up all the loose change the kids threw away, 1p's. 2p.s and even 5p's. In one year he collected over £150 worth of money in the playground.

 

[ladylola]

I've just googled and come up with this-
http://www.thisismoney.co.uk/money/bills/article-1598774/The-perfect-money-making-crime.html
seems it's illegal in this country but the article does make interesting reading.

 

[longdogs]

I normally throw them all in a box in my man drawer, then take them to the coinstar at my local supermarket where I change it all up for some lovely notes. normally make arount £15-£20. The first time I did it, I had this huge bag of coins which I had collected over several years and got back £75

 

[snico]

Coins are usually metal or a metallic material and sometimes made of synthetic materials, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of large numbers of bullion coins. In the present day, coins and banknotes make up currency, the cash forms of all modern money systems. Coins made for paying bills and general monetized use are usually used for lower-valued units, and banknotes for the higher values; also, in many money systems, the highest value coin made for circulation is worth less than the lowest-value note. In the last hundred years, the face value of circulation coins has usually been higher than the gross value of the metal used in making them

led light bars

Learn something new every day....I always wondered what these metal discs and small folded sheets of paper where in my pocket!

 

[ladylola]

That'll be why people throw their pennies on the floor then, they don't know what they are!