Gold & Silver Forum - Overstruck Pennies!

Overstruck '59-'82 Lincoln Memorial Cents

AMERICAN MINED, AMERICAN MADE. That is the motto inscribed on the obverse side of these copper bullion pieces. The motto alludes to the fact that before 1982 the copper used in US pennies was mined, smelted, and processed by American workers in the United States of America. In 1982 the US congress and treasury switched the metal content of the penny to copper plated zinc, and outsourced the zinc metal supply to other countries. The alloy that was used is 95% copper and 5% zinc... an alloy sometimes referred to as tombac, which retains the copper color but is harder and more resistant to oxidation and wear than pure copper.

What we have done to create these investment-grade copper bullion coins
is to "overstrike" a quantity of carefully sorted and selected copper cents, redefining them from currency to bullion. The reverse side is inscribed "1/10 ounce .950 copper" which alludes to the fact that the 3.1 gram weight of the copper cent is in fact equal to 1/10 troy ounce... the weight standard by which all precious metals are measured.

Some might question why we choose the troy ounce instead of the more usual avoirdupois ounce for measuring copper. It is our contention that copper is the "New Precious Metal" and will take it's place below silver and gold in the bullion coin field as it has always done in both the coin field and (in inverted order) on the periodic table of elements. The intent is to create an inflation-proof "small change" that could circulate alongside silver and gold after TSHTF and the fiat dollar crumbles into worthlessness. This offering is merely the first of an intended series.

This auction is for one bag of 128 copper bullion coins containing a total of
one troy pound of pure copper. The individual coins are overstruck onto US copper cents using handmade dies. Weight calculations were done as follows.
Average weight per coin = 3.0872g (measured average of 100 random samples)
Given: copper (tombac) pennies are 95% copper...
Then: 3.0872g x .950 = 2.93284 g Cu per coin.
Given: 1 Troy oz = 31.1 grams and 1 Troy pound = 12 tr oz or 373.2 grams.
Then 373.2 grams divided by 2.93284 grams Cu per = 127.2487
Therefore:
128 copper cents contains 374.4 grams pure copper; which is just a gram over 12 troy oz, equivalent to one troy pound.

The coins are slightly larger than the pennies they were struck over... they are broadstruck (without a collar) and will therefore spread a little on striking. The penny-blanks were not cleaned or tumbled, so a shadowy image of the "undertype" is fairly plainly visible on most examples. If you prefer, they can be cleaned with any sort of non-abrasive metal cleaner, such as Happich's Simichrome Polish, to make a brighter (and to some eyes) more attractive look.

As always this is a no-reserve auction. Cash, personal checks, money orders, copper gold and silver coins, hooved livestock, baled hay, and PayPal accepted as valuta. Winner to pay $5 shipping and handling, which covers PRIORITY mailing to ANY address in the U.S. PLEASE include your ebay bidder name, auction number, email address, and mailing address on all communications to assure a fast smooth transaction. Payment options should be confirmed by email within three days after close of auction, and transaction completed within ten days. Please check our feedback! We will leave positive feedback for all who follow through. Good luck, have FUN, laugh a lot, and help a new person get interested in collecting! And save all your copper pennies! They're worth more than a cent.

Location
Country: United States (72764)
Shipping conditions: Buyer pays shipping expenses , Will NOT ship internationally
Shipping terms: $5 Priority US
$15 Priority Worldwide

Payment methods: Cheque, Money Order, Paypal

Auction started: June 09, 2008 - 12:30
Auction ends: June 23, 2008 - 12:30
Auction ID: 13

Item category: 05 Copper Bullion