Affluent Savvy
Affluent Savvy
Photo: Rachel Claire
Take the coins out and sprinkle some baking soda over them; then use a soft-bristled toothbrush to brush them clean. Rinse them out thoroughly with hot water; using tongs or gloves to hold them to avoid burning your fingers. Place them on a soft, cotton towel and leave to air dry.
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Learn More »From kids to teens and young adults to senior adults; collecting coins is a common hobby that many individuals have been doing for years! Some coin collections have even been passed down from one generation to another, making it that much more valuable and special to the owner. With the sentimental value of your coin collection, coupled with the amount of patience that went into creating it, it’s no wonder that collectors look for ways to clean and keep their coins looking bright and shiny. The great thing about this is that it’s fairly easy to do and the results are spectacular! So without wasting any more time, here are two methods to clean both the newer coins and the older, tarnished ones.
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Read More »So for the past 30 years, pennies have been made with an alloy comprised of 97.5% zinc and 2.5% copper, but pennies minted before 1982 are 95% copper and 5% zinc. The price of copper has more than quadrupled over the past 10 years. So a penny produced before 1982 is worth 2.2 cents based on the metal it contains.
RICHMOND, VA (WWBT) – Our parents taught us the value of saving our change. The coins add up, but some are more valuable than others. "The price of copper moved up so much during the late 70's, they no longer could afford to use copper as the main base metal," said Ron Mirr, Owner of Liberty Coins. So for the past 30 years, pennies have been made with an alloy comprised of 97.5% zinc and 2.5% copper, but pennies minted before 1982 are 95% copper and 5% zinc. The price of copper has more than quadrupled over the past 10 years. So a penny produced before 1982 is worth 2.2 cents based on the metal it contains. In 2007, the U.S. Mint implemented outlawed melting down pennies for profit. The fear -- a coin shortage, and the cost to replace those coins. Last year, the U.S. Mint made more than 4 billion pennies, each one costing 2.4 cents to create. "Because of the price of base metals getting more expensive, I could see them eventually probably doing away with the penny," Mirr added. There is a small market for pre 1982 pennies. On eBay, a lot of 5000 pennies has a face value of $50, but it will sell for $60. "The coins before 1982 in uncirculated rolls, they'll probably see in 15 or 20 years, those rolls could double or triple in value," Mirr said. A few buyers are holding out hope that the U.S. Mint will one day get rid of the penny and their collection will pay off.
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