Posted on: 22 April 2018Share
While it is true that the American copper penny has not been wholly copper for decades, that does not mean that the government does not buy up copper to make its pennies. If you currently buy copper pipes and other copper cast-offs, you can make a mint selling your copper wares to government minting presses. Here is how.
Find the Shiniest and Cleanest of Copper Goods
The U.S. mints cannot recycle aged and dirty copper to make pennies. It is not cost-effective to do so. However, if you find a lot of copper pipe, pure copper wire, and/or clean copper tubing, they will take that. Make sure everything is without the iconic green patina that destroys the appearance of most copper goods. Then contact the mints directly.
Contact the Two Mints That Make Pennies
Here is a fun fact for you; only two government mints make pennies. The nice thing about such a short list means that you only have to contact two mints directly to sell them your copper. They are located in Denver and Philadelphia. When you finally get a hold of the correct person at these mints (i.e., the one that buys the metals to make the coins), make sure you have enough clean, pure copper on hand to make the sale worth his/her while.
Never Stop Stockpiling Copper
Government mints are not interested in buying a few pounds of copper here or a few hundred pounds over there. If you have not sufficiently stockpiled enough copper to make the purchase and the sales pitch worth the government's time, you will not make a sale. If you are refused by both mints the first time around because you do not have "x" number of tons of clean, pure copper, keep stockpiling copper until you have enough. You might have to buy a lot of dirty, rough copper along the way, but you can easily sell and recycle that stuff for other purposes to other companies.
Sell Your Copper Mother Lode
When you finally have enough copper, wait for the price of copper to go up. The rising price of copper suggests that the value has increased due to a lack of the metal in circulation. This is your moment to sell! Call the Denver and Philadelphia mints and pitch the sale to the buyers again. If you are willing to take slightly less than the going rate, the mints may buy up all the good, clean, pure copper you have.
To learn more, contact a company like Dabal & Sons Inc.