Are you saving your pennies?

Did you know that all Lincoln cents minted before 1982 contain about two and a half cents of copper -- more than double their face value? Are you saving these pennies thinking you will be able to cash them in just like silver dimes, quarters and half dollars? Well, there is a government ban on melting pennies and another ban on exporting them so speculators are not buying them. You might save them, but you'll have a hard time selling them for a profit. Of course rare or numismatic pennies are the exception and collectors will pay for these. Also, some 1982 pennies are copper. 1982 was the year that the government started making zinc pennies that are coated with a thin layer of copper. 1982 was the year that copper prices made it too costly to make "copper pennies."

Hey i never knew that these pennies were made of silver. But I have many pennies saved before the year of 1980. So can i convert them in silver? How can i convert them in silver? Please give me some suggestion.

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Originally Posted by kim anton

Hey i never knew that these pennies were made of silver. But I have many pennies saved before the year of 1980. So can i convert them in silver? How can i convert them in silver? Please give me some suggestion.

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I don't know of any "pennies" or one-cent coins in the USA made of "silver." There were "steel" cents made in 1943. What country are you in, Kim?

When I go to market I buy necessary things before I buy a Product which is not necessary for me, whether it be big or little, I requested myself the query "Do I really need this item and can I stay without it?" Most of enough time I can so I'm able simply walking away and cut costs.

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Originally Posted by watson65

When I go to market I buy necessary things before I buy a Product which is not necessary for me, whether it be big or little, I requested myself the query "Do I really need this item and can I stay without it?" Most of enough time I can so I'm able simply walking away and cut costs.

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Hi watson65 and thanks for joining us. If more people did what you describe -- stop and think about a purchase before spending the money -- there would be a lot less waste. By less waste I mean not just financial waste, but also physical waste of products and food that ends up never used or in landfills.

Money saving is a good habit to secure your future. We should save money it is important, some people become very mizar to save money. Most of them ignore their basic needs also and save money. It not good.

Most of us have jars, trays or drawers that accumulate coins. Few are likely to have already built much, although past research has found that more than £5.6bn worth of cash is kept in people's homes.

Time to crack open my piggy bank :)