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View Full Version : My newest get rich quick scheme


Penguin
12/15/2006, 04:50 PM
I found out that since the price of copper is so high now that the penny is worth more than it's face value.


Here's my plan:

#1) Take all my cash to the bank and cash it in for pennies.

#2) Melt the copper down into a statue or something like that.

#3) Go to the nearest scrap metal company and sell it for cash.

#4) Repeat until scheme is no longer profitable.


There is no flaw in my plan. See you later, suckers.
mdklatt
12/15/2006, 04:51 PM
Aren't pennies mostly made of nickel now?
BlondeSoonerGirl
12/15/2006, 04:52 PM
Thread killer...

:D
Mjcpr
12/15/2006, 04:52 PM
Aren't pennies mostly made of nickel now?

Sweet! I only paid $0.01 for the ones that I have!!
Fugue
12/15/2006, 04:53 PM
Aren't pennies mostly made of nickel now?

shortest get rich scheme ever. :D
yermom
12/15/2006, 04:53 PM
maybe we need to be on the Copper standard :D

there is something wrong when it costs more than a cent to make a penny

i saw something briefly on CNN or something yesterday that melting down pennies and nickels was illegal... i don't think that is a new thing though
skycat
12/15/2006, 04:54 PM
What's zinc going for these days?
SoonerInKCMO
12/15/2006, 04:54 PM
They're mostly zinc. And cost $0.0093 each to make.

http://www.usmint.gov/faqs/circulating_coins/index.cfm?action=faq_circulating_coin#cost
yermom
12/15/2006, 04:57 PM
they were saying that it was up to like $1.73 now
Beef
12/15/2006, 04:59 PM
I thought 99.7% of all copper sucked.
Penguin
12/15/2006, 04:59 PM
Attention anal retentive people with no sense of humor:


U.S. Mint Moves to Ban Penny Melting (http://abcnews.go.com/Business/story?id=2725597&page=1)



copper prices are up more than 180 percent since mid-2003, selling for just more than $3 a pound.

That means the modern penny (made after 1982) is worth 1.73 cents with production costs included. The nickel, which is made of copper and nickel, is actually worth 8.34 cents when production costs are included.





I guess the SO ain't what it used to be.
Mjcpr
12/15/2006, 05:01 PM
I guess the SO ain't what it used to be.
Wait, you're a mod now?

:D
Fugue
12/15/2006, 05:02 PM
Attention anal retentive people with no sense of humor:


U.S. Mint Moves to Ban Penny Melting (http://abcnews.go.com/Business/story?id=2725597&page=1)








I guess the SO ain't what it used to be.

you said "anal" *snicker*

that better? :D
I_SMELL_FEAR
12/15/2006, 05:03 PM
See, if you had not opened up your big mouth and told your plans, you would be rich by now.

Im going to go try to demand the true 1.73 value of a penny at the local convenience store.
Mjcpr
12/15/2006, 05:06 PM
you said "anal" *snicker*

That's not a Snickers!!!
Fugue
12/15/2006, 05:07 PM
Baby Ruth?
Mjcpr
12/15/2006, 05:08 PM
Candy corn?
Fugue
12/15/2006, 05:09 PM
peenuts?
Mjcpr
12/15/2006, 05:10 PM
Chocolate milk?
Fugue
12/15/2006, 05:11 PM
sbib?
SoonerInKCMO
12/15/2006, 05:11 PM
Attention anal retentive people with no sense of humor:


U.S. Mint Moves to Ban Penny Melting (http://abcnews.go.com/Business/story?id=2725597&page=1)

Pennies are 2.5% copper. At $3/pound for copper, a pound of pennies has $0.075 worth of copper. It takes 181 pennies to make a pound.

You'd actually make money if you sold the zinc though - it's $2.13/lb. At least it was yesterday.
Mjcpr
12/15/2006, 05:12 PM
sbib?

:D
yermom
12/15/2006, 05:14 PM
they were saying that it was up to like $1.73 now

is Verizon hiring? :O
Penguin
12/15/2006, 05:24 PM
All right! metal! Any sort of metal no matter the type I will melt down and extract from the metal penny.

Ok? Sheesh!


You people make my bowels so upset that I'm about to go sit in a hottub!
mdklatt
12/15/2006, 05:26 PM
Here's what you do. Move to a state that doesn't charge a nickel deposit on soft drink cans and bottles that is next to a state that does.
Penguin
12/15/2006, 05:35 PM
Here's what you do. Move to a state that doesn't charge a nickel deposit on soft drink cans and bottles that is next to a state that does.

No, you idiot. The transportation cost blows your whole profit margin.
yermom
12/15/2006, 05:38 PM
what about Mother's Day?
StoopTroup
12/15/2006, 05:38 PM
Penguin...

Have you figured out what your energy costs are of melting down a pound of pennies?

It might be cheaper to melt them nearer to the equator...
trwxxa
12/15/2006, 07:32 PM
No, you idiot. The transportation cost blows your whole profit margin.

Oy. You can also make money by delivering mail to the location. You can then use your mail delivery truck for business purposes and the government pays for the fuel.
StoopTroup
12/15/2006, 07:38 PM
I hear you can make some serious jack by stuffing direct mail from your home for companies.
Ike
12/15/2006, 07:55 PM
BTW, in regards to getting rich quick, pennies made before 1982, which is a significant portion of the pennies in circulation, are made of 95% copper...and have a metal-value of about 2.5 cents.
Penguin
12/15/2006, 08:27 PM
Forget you ho's


I'm sure Frozen will say I have the perfect plan.
StoopTroup
12/15/2006, 08:35 PM
How much is the copper wiring in a house worth?
SCOUT
12/15/2006, 09:20 PM
How much is the copper wiring in a house worth?

The thick wire for our double oven and air conditioning unit are worth about $120 a piece. I know this because we are building a house and they have been stolen twice. This in just a few days between inspections and drywall.
:mad: :mad: :mad: