Sell Everything and Buy Old Pennies?

How to Make a lot of Money in Five Easy Steps:

Step #1: Sell everything you own. Sell it all. Stocks, bonds, real estate. eBay your couch, you dog. Everything.

Step #2: Then convert it all into pre-1982 copper pennies.

Step #3: Meltdown the pennies.

Step #4: Sell the copper.

Step #5: Now use your proceeds to buy back all the stuff you sold. You’ll have more than enough left over.

The material in a pre-1982 penny is currently worth about 2-1/2 cents.

Update: It's not exactly legal.

Comments

[Chuck:]

Melting it down will cost about a penny each.
Buying the Pickup Truck to drag them around will cost about 5000 to 25000.... if you get the one with the GPS NAV, CD / DVD combo.. etc...

2007 Sep 27 04:32 PM

[Mr. Denny:]

Funny about pennies? How much time would you get? I doubt it would be worth the legal bill!:)
Mr. Denny

2007 Sep 28 05:44 PM

[Rig:]

Better still, buy Canadian pennies or nickels (pre 1981). They are worth more and there is no anti-melt law.
BTW there is also a new law in the US limiting how many coins you can take out of the country (I think it is $5. worth). Free country? Not anymore.

2007 Sep 29 11:16 AM

[johngonole:]

Agree not much real freedom anymore. Everything is regulated. And its our own fault. We keep asking the government to solve smaller and smaller problems. We keep asking the government to solve every inequality, injustice, etc...

Soon they will control who is allowed to profit and who is not allowed. Who gets what and when...on and on we go...

No offense to the progressives, liberals, and conservatives.... but all the ideas on the table date back before even the romans. Freedom is a new idea. Government run economies are older than the AD calender system... and they always end badly. Leave people alone to serve their self interest (including helping their neighbors) and we'll all do a lot better.

2008 Feb 24 09:05 PM

[Jefflwhite:]

It is not illegal (or police would stake out all the machines which crush them into oblong tourist souvenirs. See realcent.forumco.com/t...~TOPIC_ID~192.asp.

Quote:

“Melting copper-alloy coins for their copper content is a very hot topic today because copper has reached an historic high-well over $3 a pound this brings to mind a rather unusual use for coin metal. Several bells of note have been made with copper from melted coins. “

“ One of the classic cases and perhaps the most mysterious is the Liberty Bell made from melted cents for the World’s Columbian Exposition in 1893.”

“According to sketchy information available, patriotic children across the country contributed 250,000 cents that were melted down and cast into a replica of the Liberty Bell by the Daughters of the American Revolution.”

"Tons and tons of coins, ranging from the lowly copper-alloy cent to gold $20s have been turned into jewelry."
“ The Secret Service tried to stop the manufacture of coin jewelry, which became popular during the Columbian Exposition in 1893, aiming a law especially at Native Americans who were profiting by melting silver coins-especially silver dollars-to make their jewelry.”

“The law pinched others and WAS RECINDED in 1909, a fact almost no one is aware of. It’s legal to do anything you want with a coin, other than altering the date or mintmark.”

2008 Apr 30 01:27 AM