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Coin collectors are known to be very sentimental and even invest in copper pennies. But a lot of people wonder whether saving up on cents is a good idea. There are those who swear by copper pennies as the better alternative to gold or silver investing. While there are those (and they number in the majority) who think that pennies are just a waste of time. Is investing in copper pennies a good investment or not?
Let’s see both sides of the debate. You can make up your own mind whether the value of pennies as an investment is a penny-wise move, or a dollar-foolish one.
1. The Copper in Copper Pennies is worth more than a cent
As of this writing, the melt price for scrap copper is around $3.24. A typical copper penny weighs around 3.11 grams. Let’s do some math here to come up with an amount. To get a pound of copper from copper pennies, you need approximately 146 copper pennies. Calculate how much a hundred and forty six pennies cost: $1.46.
The math should be proof enough for you. Get enough copper pennies, melt them, and then sell them by the pound. You get a 45% profit from this application (but take into consideration how much it costs melting metal).
2. Copper Pennies have considerable value as collectors’ items
Coin collectors are willing to pay hundreds of dollars for a penny that’s rare. There are several pennies that never saw circulation and these are the coins that coin collectors will pay an arm and leg for.
1. You need a lot of coins
If you did the math above then you can certainly calculate how many coins it will take you to come up with a profit of, let’s say, $100. Ok, we know you hate math so we’re doing it for you: You need at least 4,507 pennies to earn a hundred bucks. Where can you find pennies that many?
2. Some Pennies are Not even Copper
Pennies minted after 1982 are made of zinc. As you all know, zinc costs less than copper. They are also lighter than their copper counterparts. You’ll definitely need more and more zinc pennies to eke out a good profit.
3. Melting coins are illegal
At least those that are currently in circulation. Make sure you check on your pennies before even considering melting them.
4. Melting can be expensive
You need to find a good metal smith to do the job right. And these guys can charge you a pretty penny (pun intended). You can do it yourself, but we will warn you in advance that it can be difficult and dangerous.
There you go: the pros and the cons. Always remember that there are two sides to a coin, copper pennies included. Investing in copper pennies can be a fun hobby, especially if you’re out to collect the rare ones. But if you plan on melting the metal to sell then you need quite a lot of them to turn in a profit. A lot of people will argue that it’s just not worth the effort.
Have you heard about this great opportunity online that allows people to earn lots of money while at the comforts of their home? Thissounds pretty easy to start, as long as, you have some amount to start with. Besides, if this random guy was able to become successful in Forex trading, why can’t you? But, before jumping in, you definitely will want to know how Forex works. It just makes sense to understand at least the basic of things before you start investing.
How do People Earn in Forex?
Back in the days, before the dawn of the internet, Forex is simply just changing your currency to the local currency of the country you are visiting and that’s about it, whereas nowadays, Forex could mean two things for different people. One, something to stay away from because it is difficult, or two, something that will make you instantly rich! The truth is, what most people think about Forex is just 10% true. One of the truths includes Forex as a form of trading. People earn in this trading by understanding the forex trading signals.
The earnings in Forex lie between the trader’s ability to foresee how a certain currency is going to behave against another. Although, there are different approaches about knowing how to trade currency, two of the most common ones are day trading and leveraging.
In day trading, investors do not leave anything in the portfolio overnight. Although the investment is a little high for the profit to matter, this could potentially provide a great return especially if the trader was lucky enough to invest in a good pair.
With leveraging, however, there is endless possibility even with a slightly smaller starting amount. But instead of selling a trade at the end of the day, traders tend to stick to the portfolio for a certain period of time. This puts a safety net in times when a currency dips a little lower than expected. In addition, with the way that is designed, traders are advised to hold their emotions together and not get carried away too much. For example, the power of an investment that can be doubled or tripled could result to a bigger loss if not moderated properly.
In a lot of ways, Forex can be compared to the stock market but is also a distinct market in itself. Although, technically, it is not a traditional market, due to the fact that it does not have an actual store, the earnings in knowing how to trade currency are relatively good.
Those people who want to start their endeavor with foreign exchange investments however are advised to take extra effort to learn the market. Even though they have backgrounds in stock markets, people are advised to take this trading more seriously by actually learning how Forex works. This is for them to avoid huge losses and for them to also make a good decision when they start investing. In this way, they know what to expect and at least have an idea what to do next.
The US dollar is now in the process of collapsing. It will eventually lose the reserve status of the world. China has taken the first step to remove the US dollar as the reserve currency by broadcasting to the world that it does not see the benefit of holding the dollar any more. China decided to take it one step further by saying that they may price crude in the yuan. The central bankers/US Government are pushing the false flag event and are preparing for what is about to hit every American. This event will be much worse than 911, it will be so horrific that people will be crying in the streets.