Thailand

marc26 · #1 11-05-2006, 20:43

there was an analyst on tv saying basically that copper was so valued that a penny is actually worth 2 pennies!!

IRISH JONNY · #2 11-05-2006, 20:45

Quote:

Originally Posted by marc26

there was an analyst on tv saying basically that copper was so valued that a penny is actually worth 2 pennies!!

JEES......YOU WOULD WANT TO BE COLLECTING A LOT OF PENNIES............
IMAGINE GOING TO THE BANK WITH 100000 AND ASKING FOR THE LOT IN PENNIES !!!!!!!!
IJ

Izzy · #3 11-05-2006, 21:52

Yep it is illegal..from what I understand also, it only works for pre 1992 coins as they started making them out of steel and copper plate then unlike when they were 97%+ copper.

LivinLOS · #4 11-05-2006, 23:12

Quote:

Originally Posted by marc26

there was an analyst on tv saying basically that copper was so valued that a penny is actually worth 2 pennies!!

Common myth.. The penny has been debased over and over so its now 97.5% zinc and 2.5% copper a US penny is 2.5 grammes so 2.4375 grams of zinc and 0.0625 grams of copper. At current metal prices of $3.50 per pound of copper and $1.55 per pound of zinc, the US penny contains 0.0482 pennies’ worth of copper and 0.806 pennies’ worth of zinc for a total contained metal value of $0.008542. You didn’t really think the government would mint coins at a loss, did you.. Thats since 1982..

Pre 82 the situation is very different. Pennies minted between 1793 and 1837 were made of pure copper. In 1837 the penny was debased and for the next twenty years was made of bronze (95% copper and 5% tin and zinc). In 1857 it was debased again to 88% copper and 12% nickel, giving it a whitish appearance; and then from 1864 to 1962 it was once again made of 95% copper and 5% tin and zinc. The exception was 1943 when the penny was made of zinc-coated steel due to the critical use of copper for the War Effort. In 1962 the small amount of tin was removed from the penny and its composition until 1982 was 95% copper and 5% zinc. So if you can lay your hands on pennies minted between 1864 and 1982, you could make a penny.

Pennies minted during those years with the exception of the 1943 steel penny contained 95% copper and weighed 3.1 grams. Thus, each of those pennies contained 2.945 grams of copper. At $3.50 per pound, each penny therefore contained $0.0227 worth of copper; more than twice the face value of the coin. Assuming you can get a smelter to pay you 90% of the metal value of the copper in a penny, it means you can get two pennies worth of copper out of each pre-1982 penny.

marc26 · #5 11-05-2006, 23:41

Quote:

Originally Posted by LivinLOS

Common myth.. The penny has been debased over and over so its now 97.5% zinc and 2.5% copper a US penny is 2.5 grammes so 2.4375 grams of zinc and 0.0625 grams of copper. At current metal prices of $3.50 per pound of copper and $1.55 per pound of zinc, the US penny contains 0.0482 pennies’ worth of copper and 0.806 pennies’ worth of zinc for a total contained metal value of $0.008542. You didn’t really think the government would mint coins at a loss, did you.. Thats since 1982..

Pre 82 the situation is very different. Pennies minted between 1793 and 1837 were made of pure copper. In 1837 the penny was debased and for the next twenty years was made of bronze (95% copper and 5% tin and zinc). In 1857 it was debased again to 88% copper and 12% nickel, giving it a whitish appearance; and then from 1864 to 1962 it was once again made of 95% copper and 5% tin and zinc. The exception was 1943 when the penny was made of zinc-coated steel due to the critical use of copper for the War Effort. In 1962 the small amount of tin was removed from the penny and its composition until 1982 was 95% copper and 5% zinc. So if you can lay your hands on pennies minted between 1864 and 1982, you could make a penny.

Pennies minted during those years with the exception of the 1943 steel penny contained 95% copper and weighed 3.1 grams. Thus, each of those pennies contained 2.945 grams of copper. At $3.50 per pound, each penny therefore contained $0.0227 worth of copper; more than twice the face value of the coin. Assuming you can get a smelter to pay you 90% of the metal value of the copper in a penny, it means you can get two pennies worth of copper out of each pre-1982 penny.

the 2 exclamations point was meant as a exaggeration.
obviously he was goign for shock value

Sirgezza · #6 12-05-2006, 01:25

Quote:

Originally Posted by Alfie

Yeah but a 2 pence piece is larger than a 1 pence piece,

Is it?????????

I thought that a 2p piece weighed exactly the same as two 1p pieces. (Istudied accountancy for yeras to be taught that

)

K2 · #7 12-05-2006, 04:30

Exactly the kind of talk I look for when a market is topping out!

Robo(sydney) · #8 12-05-2006, 05:39

Save yourself a sh$t load of time by raiding a vacated residential property.....
Most have loads of copper piping throughtout and if your lucky might even find a penny or 2..

Denver · #9 13-05-2006, 18:59

Loads of copper and Brass here if anyone is interested in coming and getting it!

faultytowers · #10 13-05-2006, 19:16

Quote:

Originally Posted by Denver

Loads of copper and Brass here if anyone is interested in coming and getting it!

Had the same problem , but , we did "home deliveries".

LivinLOS · #11 13-05-2006, 21:24

Quote:

Originally Posted by Denver

Loads of copper and Brass here if anyone is interested in coming and getting it!

Not sure about copper but Patong has plenty of brass..

Sirgezza · #12 13-05-2006, 23:10

Quote:

Originally Posted by faultytowers

Had the same problem , but , we did "home deliveries".

Are those the idiots you tried to get to assassinate my seagulls?

Denver · #13 17-05-2006, 03:42

Quote:

Originally Posted by gez

Are those the idiots you tried to get to assassinate my seagulls?

Seagull murderer. Did you get them in the end?

Sirgezza · #14 17-05-2006, 18:26

Quote:

Originally Posted by Denver

Seagull murderer. Did you get them in the end?

I plead the 5th amendment on the grounds that the evidence I give may be self incriminating. Let's just say that I am popular with my neighbours because they are no longer kept awake by seagull cries in the night

Denver · #15 17-05-2006, 18:43

Quote:

Originally Posted by gez

I plead the 5th amendment on the grounds that the evidence I give may be self incriminating. Let's just say that I am popular with my neighbours because they are no longer kept awake by seagull cries in the night

Just the ghostly hauntings of the lost spirited souls of poor old sammy the seagull and his unborn kids! Ya Bastard.....................................

Sirgezza · #16 17-05-2006, 19:25

Quote:

Originally Posted by Denver

Just the ghostly hauntings of the lost spirited souls of poor old sammy the seagull and his unborn kids! Ya Bastard.....................................

Sorry to go off topic folks, but at least Denver is talking to me now

This is true....

last night I was awoken by the sound of the remnants of their nest falling off the stack and sliding down the roof.

Do seagulls have ghosts?

Denver · #17 17-05-2006, 19:28

Quote:

Originally Posted by gez

Sorry to go off topic folks, but at least Denver is talking to me now

This is true....

last night I was awoken by the sound of the remnants of their nest falling off the stack and sliding down the roof.

Do seagulls have ghosts?

Oh aye! The PM.........................Oops!!

I can take a hint!

Right on it Sir Gez............................DOH!

JayBee · #18 28-05-2006, 14:42

Quote:

Originally Posted by gez

I plead the 5th amendment on the grounds that the evidence I give may be self incriminating. Let's just say that I am popular with my neighbours because they are no longer kept awake by seagull cries in the night

Do they have a 5th amendment in Wales?

Or is it just a fifth?