Pre 1993 copper 2p coins for investment?

sabretoothtigger

I think Getty might have cleaned his own windows, he was the guy who kept all his stuff in shoe boxes. No point wasting money At some point it is a waste of time though

Meanwhile I'm getting 7.3% on my cash savings which are held overseas in a currency that has appreciated around about 20% against the pound over the last 18 months

This is what I thought might happen, even Rupees have gone up vs pounds so why even stay in pounds. It doesnt make alot of sense, having rates this low here for so long should have caused money to evaporate to places where it's more valued

My largest fund is basically foreign currency in the form of bonds. Hasnt done spectacular so far but still a gain.
Everything is shackled to the dollar, it will take a revolution every day for the next few years to break free

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http://link.ft.com/r/4RNQTT/26P0AZ/A4V29/72TMCS/8AU0GV/FW/h?a1=2011&a2=2&a3=14

Old uk coins as collectables including soverigns - http://www.coins-of-the-uk.co.uk/values/index.html

DavidHayton

steady__eddie wrote: »

In an attempt to get the thread back on track, any idea what the copper content on the old LSD coinage is has I've just been ripped off ? Some bar steward palmed me with a 1933 penny in my change today. :mad:

What did they pass it off as?

Old pennies weigh 9.3 grams and were made from bronze: http://en.wikipedia.org/wiki/Penny_%28British_pre-decimal_coin%29

Bronze is typically 90% copper (I don't have the exact percentage in the old LSD coppers) ... so let's say 8.4 grams of copper. Scrap value of copper is currently about 0.5p per gram, so your coin is worth about 4.2 p .... nearly a shilling! Who would have thought it?

I think that some folks are being a bit unfair on smeagold. Old copper coins are worth more than their face value. In effect the government is selling you 1.5 p of copper for 1p.

TBH I think that they should just withdraw the 1p and 2p coins and be done with it. It will not affect non-cash transactions at all, whilst cash transactions can be rounded to the nearest 5p (see http://en.wikipedia.org/wiki/Swedish_rounding).

David

David

listonosz

dzug1 wrote: »

Is it? What's the life expectancy of a low value banknote? A month or two. What's the life expectancy of a coin? 50 years? Longer?

So the United States goverment changes their 1 dollar bills every one to two months? maybe they should start to laminate them to stop them wearing out so fast.

Loughton_Monkey

Smeagold has convinced me to save all my 1p and 2p coins.

These will not be sold for their copper value. Instead, I am leaving instructions in my will for these coins to be melted down and used to construct a 'bust' of the honourable Loughton Monkey.

Underneath will be a motto:

"He died a rich man.
Thank GOD he didn't listen to Smeagold"

lvader

Who was the silver bug that told me last year that Copper was a rubbish investment?

listonosz

People can scoff all they like but if we get some severe inflation in the near future there will be no metallic coins in circulation.

steady__eddie

I hold my hands up being a tad sarcastic in my previous post concerning the alleged palming of a 1933 penny. I thought that I would have been rumbled immediately. If anyone is still in the dark, may I draw your attention to the following :-

http://wiki.answers.com/Q/What_is_the_value_of_a_1933_British_Penny

"In 2009, a 'currency' 1933 penny sold privately for £80,000. It must be assumed that such a specimen now has this new revised value. No mention has been made of the Andre Lavillier pattern 1933 pennies of which at least 5 exist (I have seen one) - they would sell for £18,000 - £22,000 in today's market."

john_howard_fisher

thanks everyone especially smeagold. OK my question best place to sell copper online?

gumbo73

Incidentally, 1992 1ps & 2ps are no good. They gotta be 1991 or earlier.

Yes, sad as it is, I have also been tucking these away for a while.

Seems rude not to.

skaff

Well i regularly fundraise for H4H with street collections. If anyone is offerring 1.5-1 for these coins then by all means let me know and i'll be more than happy to oblige. More money for the charity is never a bad thing!