Rising metal prices could mean that United States one cent coins become worth more as metal than for their face value.The Australian:
IT could soon be worthwhile for Americans to melt down their pennies for scrap, if zinc and copper prices continue their current rate of increase.Going, going, gone: according to coinflation.com, the metal value of a pre-1982 cent is already 182% of its face value, the nickel 90%, and the post-1982 cent (what both the above articles are talking about) 78%. But it's not the metal that that's becoming more valuable; it's the dollar that's going to nothing.
Copper prices have risen 30 per cent this year, and zinc is up 55 per cent - a rise of about $US550 a tonne in a little more than three weeks.
Another rise of the same magnitude would make the metal content in the US 1c coin worth more than its face value.