Hoarding copper penny's? the U.S. penny changed to a alloy in 1982. I have some English large cents or penny's. Never understood things like "quids or Bobs" Or is that just the Andy Cap cartoons? I seen once in Illinois when we changed the pumps to .06 for a day or two. When you removed the covers and hand changed them and if you didn't cut your hands. A man told me once that it is because to expansion of gas by temperature their is no guaranty of a full gallon. Kinda of makes sense. The bureau of weights and measures would stop in and fill a can and put the stickers on each pump. A dealer by me a couple of years ago told the man to get lost!
The judge fined him big time!
Personally, I do not collect Penny's, I collect pocket knives.
Below is a breakdown as to why some coin collectors collect penny's:
The prices of most commodities have risen substantially since 2001, and some of the coins you have in your pocket or piggy bank are worth a lot more today than in the past.
Pennies used to be made from 95 percent copper, at least until 1982. The price of copper has risen dramatically since the turn of the century, making the meltdown value of a penny more than the face value of the penny. Commodity prices continue to rise and fall with market changes, which could affect the current metal value of the coin.
The Copper in a Penny
A pre-1982 copper penny contains about 2.95 grams of copper, and there are 453.59 grams in a pound. The price of copper in June 2016 was $2.17 a pound, which made the value of copper in each penny worth about 1.4 cents. The meltdown value of a penny was 40 percent more than the face value. Copper moved to a higher price at the end of 2016 of around $2.70 per pound, making the value of copper in older pennies even higher.
Pennies contain a nominal amount of zinc which adds to the metal value. Pennies were manufactured with 97.5 percent zinc after 1982, so pennies dated before 1982 have the greatest metal value. However, in 2016 the price of zinc also increased in value making the pre-1982 pennies worth even more than their face value and the later pennies have also appreciated.
And here is the breakdown of English coinage terms. Still in use today. Unrelated to "Andy Cap"
I believe today's exchange rate is: GBPUSD:CUR GBP-USD X-RATE:
One English Pound will cost you: 1.3101USD
When I departed England in 1970 the rate was: 1 British Pound was equal to $2.40 (Big difference from today)
farthing – the smallest coinage = 1/4 penny
halfpenny (pronounced “hay-pinee”.) = 1/2 penny
penny – (in conjunction with other denominations is called “pence”.)
threepenny (thruh-pence) = three pennies
sixpence = six pennies
shilling 12 pence (1/20 pound sterling) in slang a “bob.”
two shillings = 24 pence (1/10 pound sterling)
two and six. — two shillings plus sixpence = 30 pence
five shillings – 60 pence (called a Crown)
one pound = 240 pence = 20 shillings (called a “sovereign”; a slang expression was “quid) = £
guinea = 1 pound plus one shilling
It's always important to know what you don't know.