Welcome to the The Portland Mint.
Why invest in Copper Pennies:
All pennies minted in the United States prior to and during the first part of 1982 were composed of 95% copper and 5% zinc. After 1982 the composition of pennies was changed to 97.5% zinc and 2.5% copper. According to www.coinflation.com
the current melt value of copper pennies is more than the face value of the penny itself.
Copper pennies are the most inexpensive form of copper bullion available. Pennies are viewed as a good investment choice by many metal investors. Pennies are a low risk investment because they always have a floor price, since the penny will be worth at the very least, one penny. With ease of recognition and guaranteed purity, pennies are a great form of a copper bullion investment.
Copper has been seen as a base metal for many years. Only recently has it started being seen as bullion. Copper is on its way to being seen and traded just as bullion gold and silver are.
Why invest in nickels:
All nickels minted in the United States from 1946 to present are made of 75% copper and 25% nickel. During the rise of the metal prices in 2006 the melt value of a nickel was worth more than its face value. According to www.coinflation.com the current melt value of a nickel is almost more than its face value. If the price of nickel and copper go up very much more, the melt value will once again be greater than its face value.
Copper and nickel are metals that are widely used in todays world. Presently, copper is used in building construction, power generation and transmission, electronic product manufacturing, transportation vehicles and the production of industrial machinery. Copper wiring and plumbing are integral to most appliances, heating and cooling systems, and telecommunications links used every day in homes and businesses.
Copper is an essential component in the motors, wiring, radiators, connectors, brakes, and bearings used in cars and trucks. The average car contains 0.9 miles of copper wire, and the total amount of copper ranges from 44 pounds in small cars to 99 pounds in luxury and hybrid vehicles. Also the average home contains between 440-500lbs of copper. Nickel is also a key metal used in today’s world. Nickel is used in many common rechargeable battery systems that are used in electronics, power tools, transport and emergency power supplies. It is also extensively used for making stainless steel, corrosion-resistant alloys, tubing for desalination plants, nickel steel for armor plates and storage vaults.
The Melting Ban:
On December 14, 2006, the United States Mint implemented interim rules that made it illegal to melt or export nickels and pennies. On April 17, 2007, the U.S. Mint announced a final rule to limit the exporting, melting or treatment of one-cent (penny) and five-cent (nickel) United States Coins. These regulations are patterned after the Department of the Treasury’s regulations concerning silver coins between 1967 and 1969 and one-cent coins between 1974 and 1978. http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=724
What is going on with pennies and nickels is almost identical to what took place in the late 1960’s. At that time, the melt value of silver coins became worth more than their face value. As a result these coins began to disappear from circulation. The same thing is going to happen to the copper pennies currently circulating. There is currently proposed legislation to use cheaper materials to make pennies. If the currently proposed legislation for cheaper penny materials passes, the disappearance of copper pennies in circulation will be further accelerated. The Portland Mint encourages all customers to be fully aware of the current melt and exportation laws on pennies and nickels. The Portland Mint is not responsible for any actions customers and/or investors take when they choose to take possession of their copper pennies.
If you chose to store your copper or nickels, in our contracted secure depository, we offer you a buy back option. How this works is you simply call a Portland Mint representative at 1 - 888 - 444 - 1089 and they will issue you a buy back price. Your payment will than be sent to you via a check and mailed within 48 hours. If you wish to have your funds sent via a bank wire or overnight mail there will be a $25 fee deducted from your confirmed price. Also any unpaid charges, such as storage fees, will be deducted from your confirmed price.
*If payment for your copper or nickels has not cleared yet, then you will not be able to sell your item until the funds clear.
** We only buy back items that have not left our contracted secure depository.
The Portland Mint acts as a principal and as such sells to and buys from customers on its own behalf. The Portland Mint quotes a selling price (ask) and a buying price (bid). These quotes are updated continuously during the day based on copper prices.
The price is established by the Portland Mint upon its analysis of the commodity market and may make changes at its sole discretion at any time. The prices listed on the website for the ton(s) of copper and the lots of nickels are for reference purposes only.
The price at the time the order is confirmed via telephone or email is the final price, even if there are fluctuations in the market before your order is processed. Once your order is confirmed your payment must be postmarked or bank wire within a 24 hr period and payment must be received within 10 days.
If payment is not received within the 10 days you will be charged a $50 cancellation fee.