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Counterfeit 1984 Engelhard Prospector Identification Guidance

 

By Doug West

C&D Coins, Raymore , MO

 

The Engelhard Prospector series of bullion coins ran from 1982 to 1987 and is highly collectable. Silver rounds in this short series are sought after and they normally sell for $5.00 to $10.00 over their bullion value. As a result of the demand for the rounds and the premium price a counterfeit 1984 Engelhard Prospector has surfaced in the collector marketplace. The counterfeit 1984 Engelhard Prospector one ounce silver coins are available online, eBay for example, and in the general collectors marketplace (coin shows, coin shops, flea markets,…). This article gives some basic information that will help you avoid getting ripped off with fake 1984 Prospectors.

 

Prospector Series Basics: The Prospector series ran from 1982 to 1987 and each coin contains one Troy ounce of  999+ fine silver. In 1985 Engelhard produced the Prospector in 1/10, ¼, ½ ounce sizes in addition to the one ounce round. All of the Engelhard Prospectors have an image of a prospector panning for gold along with the text “ U.S.A. ” and the date. From 1982 through 1984 the reverse of the round had a large “E” inside a globe and the text “ENGELHARD/ ONE TROY OUNCE/ 999+ FINE SILVER”. In 1984 the reverse design was changed to an eagle with a branch and flag and the text “ENGELHARD/ ONE TROY OUNCE 999+ FINE SILVER”.  The 1984 Prospectors can have either the eagle or large “E” logo style reverse. A genuine Prospector is 3.01mm thick, 38.7mm in diameter, and weights 31.32 +/- 0.07 grams.

 

 

 

Engelhard Prospector

 

Figure 1 - Obverse of Counterfeit (left) and Genuine (right) 1984 Prospector

 

 

 

Englehard Prospector

 

Figure 2 - Reverse of Counterfeit (left) and Genuine (right) 1984 Prospector

 

Things to look for that will help you spot the counterfeit 1984 Prospectors:

 

  1. The weight may be wrong and dimensions are wrong on the counterfeit Prospectors. The counterfeit rounds are 3.3mm in thickness, 39.93mm in diameter, and may only weigh 29.2 grams. I have seen one counterfeit round that weighed correctly but the dimensions were off. All of the counterfeit rounds I have seen are in a plastic case so the possible difference in the weight and the difference in dimensions aren’t as obvious. The counterfeit rounds are silver coated copper.

 

  1. The surface on the counterfeit Prospector are proof-like with frosted raised devices. A genuine Prospector does not have a cameo appearance.

 

  1. On the obverse, the date and U.S.A. are smaller on the counterfeit round than on the genuine round.

 

  1. On the obverse, the design of the water is different on the counterfeit round.

 

  1. On the reverse, the large central “E” has a textured appearance, whereas, on the counterfeit round it is plain.

 

  1. On the reverse, the font is wrong on the word “ENGELHARD” on the counterfeit coin. Note the difference in the letter “G”. On the genuine round the “G” is more angular and on the counterfeit it has smoother lines.

 

  1. For on-line sales, if the word “plated” appears in the description it is one of the counterfeit rounds. A real 1984 Prospector is solid silver.

 

I hope this information helps and I am always looking for additional factual information on Engelhard products. Please contact me though the website if you have information to share.

 

Bullion

 

Engelhard Silver Prospector Collector’s Guide

 

By Doug West

C&D Coins, Raymore , MO

 

The Engelhard Prospector silver rounds issued from 1982 to 1987 are highly collectable and typically command a premium above their melt value. Unfortunately, there isn’t a great deal of information available on the Engelhard silver products. This article provides basic information on the Prospector series to help the collector make better decisions on building their collection.

 

1982 to 1984

 

In 1982 Engelhard introduced the first in a series of one troy ounce silver rounds featuring a prospector on the obverse. All of the Engelhard Prospectors have an image of a prospector panning for gold along with the text “ U.S.A. ” and the date. From 1982 through 1984 the reverse of the round had a large “E” inside a globe and the text “ENGELHARD/ ONE TROY OUNCE/ 999+ FINE SILVER”. See figure 1 for an example of a 1982 Prospector.

 

 

Englehard Proof Set

Figure 1-1982 Engelhard Prospector

 

1984 to 1987

 

In 1984 there are two types of reverse designs. The first type is the same as the 1982 and 1983 reverses. The second reverse design is of an Eagle with a branch, flag, and the text “ENGELHARD/ ONE TROY OUNCE 999+ FINE SILVER”.  See figure 2 for an example of the 1987 Prospector. For the remained of the series from 1985 until the last Prospector was issued in 1987 the design remained the same with the prospector on the obverse and the eagle design on the reverse.

 

Engelhard - Troy Ounce

Figure 2 – 1987 Engelhard Prospector

 

 

Weight and Dimensions of the 1982 to 1987 Prospectors

 

The following measurements are averages from weights and dimensions from several different Prospectors dating from 1982 to 1987. The “+/-“ values are one standard deviation from the mean.  Weight: 31.3+/-0.06 grams. Thickness: 3.01 +/- 0.04 mm. Diameter: 38.7 +/- 0.03 mm.

 

1985 Fractional Silver Rounds

 

In 1985 Engelhard issued fractional silver rounds that contain 1/10, ¼, and ½ Troy ounces of 999 fine silver. The designs are similar to the 1985 to 1987 one ounce rounds. See figures 3 and 4 for examples of the three fractional rounds. The 1/10 ounce and ¼ ounce rounds sell for $15.00 to $20.00 over their silver melt value. The 1/2 ounce round sells for $10.00 to $15.00 over silver value.

 

Engelhard - Fractional Silver Rounds

Figure 3 – Three Fractional 1985 Engelhard Prospectors Obverse

 

Engelhard - Fractional Silver Rounds

 

Figure 4 – Three Fractional 1985 Engelhard Prospectors Obverse

1987 1 oz – 20

 

Weights and Dimensions of Fractional Prospectors

 

1/10 Ounce: weight: 3.14 grams, thickness: 1.4 mm, diameter: 19.1 mm

1/4 Ounce: weight: 7.8 grams, thickness: 2.0 mm, diameter: 23.9 mm

1/2 Ounce: weight: 15.6 grams, thickness: 2.4 mm, diameter: 30.2 mm

 

Relative Rarity

 

Based on a study of active and closed listings on eBay (see the link below in the Reference section) the rarity order for the one ounce silver Engelhard Prospector is (rarest to most common): 1987, 1983, 1986, 1982, 1985, 1984. The relative rarity ranking indicates that the 1987 Prospector is rarest and the 1984 is the most common.

 

For the 1985 fractional rounds their rarity is on the same level of as the 1987 or 1983 one ounce Prospectors. In general, the fractional rounds aren’t common with the 1/10 ounce rounds appearing to be the most common of the three fractional rounds.

 

Valuations

 

The Engelhard one ounce Prospectors from 1982 to 1987 normally sell for $5.00 to $10.00 over their silver melt value. You may see slightly higher prices for the 1983 since the current wisdom in the collector community is that it is the rarest of the standard issue rounds. The 1985 fractional rounds carry a higher premium over their melt value. Normally you would expect to pay $15.00 to $20.00 over melt for each fractional round. Genuine proof Prospectors and the Canadian Prospectors are rare and seldom come onto the market for sale. Each of these will be in the hundreds of dollars.

 

Proofs

 

Proof Engelhard Prospectors were made during the years 1982 to 1987. They are identical in design to the round from that year but have a mirror like surface and frosted devices. All genuine proof Prospectors are rare and should only be purchased from reputable sources.

 

Canadian Prospector

 

Engelhard issued a one Troy ounce silver Canadian Prospector round without a date during the mid-1980’s. The obverse has a picture of a Prospector similar to the other rounds and has the text “THE CANDIAN PROSPECTOR”. The reverse has a Canadian goose in the center surrounded by the text “ENGELHARD ONE TROY OUNCE 999+ FINE SILVER”. The surfaces are proof-like and these are rare. They typically sell for more that $300.00.

 

References

http://www.ebay.com/gds/Engelhard-Silver-Prospector-Series-Rarity-Study-/10000000178474423/g.html

 

http://allengelhard.com/definitive-pages/engelhard-rounds/

 

 

 

 

 

Bullion

 

 

Rhodium Bullion – The Basics

By Doug West

Rhodium is a very rare metal. By rare, I mean it four times rarer than gold. In this article I want to go over some of the basics of rhodium bullion, including, uses of the metal, price history, and how this metal is traded.

In the world of precious metals rhodium is part of the Platinum Group of Metals (PGM). Like gold and silver rhodium is measured in Troy ounces (31.1 grams). Rhodium is a hard white silvery looking metal and is similar to platinum and palladium chemically. It is very resistant to corrosion and is a good conductor of electricity. Rhodium has a chemical symbol of Rh and has an atomic number of 45. Rhodium was discovered by British scientist William H. Wollaston in 1803. Wollaston also discovered palladium.

Rhodium is used as a finish for jewelry, mirrors, and search lights. For example, white gold jewelry is typically plated with rhodium. It is also used in electric connections and is alloyed with platinum for aircraft turbine engine components. Rhodium usage is dominated by automotive catalyst applications where it is used together with platinum and palladium to control exhaust emissions in catalytic converters. Around 80 percent of the rhodium mined goes into catalytic converters.

South Africa is the primary producer of rhodium in the world with 80 percent of the world’s output. Russia and Canada are the next two largest producers of rhodium behind South Africa . Global demand for rhodium is estimated to exceed output for the next several years.

Like all precious metals, the price of rhodium is very volatile. As you can see in figure 1, the price of rhodium has gone from below $500 per Troy ounce to around $10,000 per Troy ounce in just 14 years. If you are a rhodium investor, or are thinking about putting money into rhodium bullion, be aware that the price can change dramatically in a very short period of time.

Rhodium Metal Information

Figure 1 – Price History of Rhodium 2000 to February 2014.

Until just the last few years rhodium billion was not that readily available to the average investor. The Baird Mint in Great Britain seems to be the only source of rhodium for investment. They produce 1/10, ¼, ½, and one ounce bars that are 999 fine. See figure 2 for an example of a Baird Mint rhodium bar. The spot price of rhodium (March 2014) is at $1085.00 per Troy ounce. The 1/10 ounce bars sell for around $210.00 to $230.00. This is a much larger premium over the melt value when compared to gold or platinum 1/10 ounce bullion. The premium on the one ounce bar is around $200.00 to $250.00. Compared to gold and platinum this is a higher premium over the melt value. Higher premiums are expected in small thinly traded markets.

Rhodium Metal Information

Figure 2 – Tenth Ounce Rhodium Bar from Baird Mint

Owning rhodium bullion may not be for everyone, but, if you like precious metals this is one you may want to own.

Disclaimer: this article is intended solely for information purposes. The opinions are those of the author only. Please conduct additional research and consult your financial advisor before making any investment or trading decisions. No responsibility can be accepted for losses that my result of trading on the basis of this analysis.

 
 

 

 

Predicted Price of Gold for January 2013

 

By Doug West, Ph.D.

For anyone that buys and sells gold on a regular basis it is very useful to have an idea of the approximate range of the price of gold for a given month. One way to get this information is by looking at several years of past price history and use this information to estimate the price of gold for the current year. In this analysis, 28 years of price history for SPOT gold was analyzed to determine an approximate range for the price of gold in January 2013.

In 16 of the last 28 years, the average price of gold has been higher in January than the previous December. This indicates a slight bias toward increasing prices in January. This is a good general trend for the month of January, however, what about the other 12 years when the average price of gold dropped during the month of January?

One way to improve the results of the estimate is to use an indicator to influence the estimate. The indicator used in this analysis is the closing price of gold on the first trading day in January and compare it to the previous month's average. We define an "up" month when the closing price of gold on the first trading day of the month is greater than the previous December. Conversely, a "down" month is when the closing price of gold on the first trading day of January is below the average price of gold for the previous December. By using only the data from the years that are consistent with the indicator we can hopefully increase the accuracy of the estimate. For example, the indicator was "up" in 13 of the 28 years under study. In these 13 years only one of the years had the average price of gold in January below the average price of gold in the previous December. This tells us the indicator has some validity in predicting the price movement for January. The price of gold tends to trend for months at a time and this indicator takes advantage of that observation.

In this analysis data set we consider only the 13 years where the price of gold on the first trading day of January ($1693.75 in January 2013) was higher than the average price in the previous month ($1688.53 in December 2012). The analysis takes into account the average change in the monthly averages and calculates the monthly high and low as percentage changes from the projected monthly average.

The results of the analysis for January 2013: The expected high for the month should be between $2159.97 and $1984.36. The expected low for the month should be between $1598.02 and $1703.39. The average price for the month is expected to be approximately $1756.07. As you can see from the predicted numbers, January could turn out to be a very good month for the price of gold.

Like all predictions into the future, they should be taken with a bit of skepticism. The gold market can be very volatile and can change rapidly based on world events and history doesn't always repeat.

Disclaimer: this article is intended solely for information purposes. The opinions are those of the author only. Please conduct additional research and consult your financial advisor before making any investment or trading decisions. No responsibility can be accepted for losses that my result of trading on the basis of this analysis.

 

Predicted Price of Silver for January 2013

 

By Doug West, Ph.D.

For anyone that buys and sells silver on a regular basis it is very useful to have an idea of the approximate range of the price of silver for a given month. One way to get this information is by looking at several years of past price history and use this information to estimate the price of silver for the current year. In this analysis, 28 years of price history for SPOT silver was analyzed to determine an approximate range for the price of silver in January 2013.

In 18 of the last 28 years, the average price of silver has been higher in January than the previous December. This indicates a slight bias toward increasing prices in January. This is a good general trend for the month of January, however, what about the other 10 years when the average price of silver dropped during the month of January?

One way to improve the results of the estimate is to use an indicator to influence the estimate. The indicator used in this analysis is the closing price of silver on the first trading day in January and compare it to the previous month average. By using only the data from the years that are consistent with the indicator we can hopefully increase the accuracy of the estimate. The price of silver tends to trend for months at a time and this indicator takes advantage of that observation.

In this analysis data set we consider only the 14 years where the price of silver on the first trading day of January ($30.87 in January 2013) was lower than the average price in the previous month ($31.96 in December 2012). The analysis takes into account the average change in the monthly averages and calculates the monthly high and low as percentage changes from the projected monthly average.

The results for January 2013: The expected high for the month should be between $33.22 and $33.86. The expected low for the month should be between $28.48 and $29.74. The average price for the month is expected to be approximately $31.64.
Like all predictions into the future, they should be taken with a bit of skepticism. The silver market can be very volatile and can change rapidly based on world events. In general, the price of silver is closely tied to the price of gold. Where gold goes, silver will likely follow.

Disclaimer: this article is intended solely for information purposes. The opinions are those of the author only. Please conduct additional research and consult your financial advisor before making any investment or trading decisions. No responsibility can be accepted for losses that my result of trading on the basis of this analysis.

 

The Platinum Eagle Coin From the US Mint

 

The American Platinum Eagle is recognized as the official platinum bullion coin of the United States. These beautiful and rare coins are highly-sought after as they give investors a convenient way to add platinum to a portfolio that is diversified into precious metals.

First issued in 1997 after being authorized by Congress the previous year, they remain the exclusive investment grade platinum coins to be issued by the U.S. Mint. Imprinted on all American Eagles is a face value, which is displayed in U.S. dollars thereby making them legal tender coins. It may be interesting to note that the one-ounce platinum coin displays a $100.00 denomination, making it the highest face value that has ever appeared on a United States coin. While the face value that is imprinted on the coin is mostly just symbolic, it does in fact give proof of the authenticity, which is extremely important as they are fully backed by the United States Government in terms of their weight, platinum content and purity of.9995.

The Mint also offers gold and silver eagles to collectors and investors as part of it's offering of investment grade precious metals. Platinum is actually far rarer than gold, making it the favored choice of many longtime coin enthusiasts. Like the Gold and Silver Eagle bullion coins, Platinum Eagles are sold by the Mint through it's authorized network of approved precious metals dealers and not directly to the public. These dealers then open the market for the general public to make purchases on a wide scale, for as long as the supply remains available.

Unlike the standard bullion versions, the Mint has made the collectible proof versions of the Platinum Eagle available for sale directly to the public since the series began. Each denomination was offered for sale individually, and also as part of a set of four coins. Beginning in it's very first year of issue, a unique "Impressions of Liberty" set that contained a 1-oz. ounce 1997 Platinum, Gold and Silver Eagle coin. The year after that initial release, beginning in 1998, the Proof version of the Platinum Eagle began a tradition that continues to this day, as the reverse design of the coin was changed annually.

Also, for a relatively short period of time from 2006 up until 2008, an uncirculated version of the coin made strictly for collectors was offered by the United States Mint. These coins were also made available directly to the public, also either all four denominations, for sale individually or as part of a four coin set. They are considerably different from the standard bullion version as the West Point "W" mint mark is featured along with the use of a reverse design that rotates on a yearly basis, similar to the structure of the proof releases.

James Kirkwood is a coin collector who enjoys writing articles on rare and valuable coins, including [http://www.platinumeagleproof.com]Platinum Eagle Proof coins, and the highly-anticipated [http://www.platinumeagleproof.com/2010-platinum-eagle-proof/]2010 Platinum Eagle Proof edition from the United States Mint.

Article Source: [http://EzineArticles.com/?The-Platinum-Eagle-Coin-From-the-US-Mint&id=4333363] The Platinum Eagle Coin From the US Mint

 

What Type of Silver Coins Should I Buy?

 

By Amar Vaswani

Knowing what type of silver coin to buy is of vital importance. There are many silver coins out there, some of which are not worth purchasing. The following silver coins are universally recognised for their purity, weight and legal tender status. All of the silver coins listed below are investment grade (i.e., silver bullion).

Australian Silver Kookaburra:

The Silver Kookaburra is one the world's best silver bullion coins that you can buy. The Australian Silver Kookaburra comes in a variety of sizes, anywhere between 1/20 ounce to 1 kilogram, and is minted by the Perth Mint. These coins feature various designs of Australia's signature bird, the Kookaburra. The 1 troy ounce coins are the most popular. This coin has a $1.00 face value.

Australian Silver Koala:

The Silver Koala is comparable to the Kookaburra. The Australian Silver Koala comes in a variety of sizes, anywhere between 1/20 ounce to 1 kilogram, and is minted by the Perth Mint. These coins feature various designs of Australia's famous Koala bear. The 1 troy ounce coins are the most popular. This coin has a $1.00 face value.

Canadian Silver Maple Leaf:

The Silver Maple Leaf is known to be Canada's most treasured silver bullion coin. The Canadian Silver Maple Leaf is minted by the Royal Canadian Mint. These coins feature the beautiful maple leaf design famous to Canadian culture. They usually come in the size of 1 troy ounce. This coin has a $5.00 face value

Austrian Silver Philharmonic:

The Silver Philharmonic coins have been in circulation since February 2008 and are minted by the Austrian Mint. The design of musical instruments representing the Vienna Philharmonic Orchestra are illustrated on these coins. They are usually packaged in sealed tubes of 25 x 1 ounce, however, they can also be bought individually. This coin has a 1.50 euro face value.

Canadian Silver Wildlife Series - (Moose, Cougar, Grizzly & Wolf):

The Silver Moose is the latest addition to this series (released 2012) and is minted by the Royal Canadian Mint. It comes in the size of 1 troy ounce. The design assigned to this coin depicts the majestic moose; a significant part of Canada's wildlife. This coin has a $5.00 face value.

The Silver Cougar (released 2011) is minted by the Royal Canadian Mint. It comes in the size of 1 troy ounce. The design assigned to this coin depicts the agile cougar; a significant part of Canada's wildlife. This coin has a $5.00 face value.

The Silver Grizzly (released 2011) is minted by the Royal Canadian Mint. It comes in the size of 1 troy ounce. The design assigned to this coin depicts the mighty grizzly bear; a significant part of Canada's wildlife. This coin has a $5.00 face value.

The Silver Wolf (released 2010) is minted by the Royal Canadian Mint. It comes in the size of 1 troy ounce. The design assigned to this coin depicts the soulful wolf; a significant part of Canada's wildlife. This coin has a $5.00 face value.

United States Silver American Eagle:

The Silver American Eagle coins are among the finest silver coins issued by the United States Mint. One side of the coin depicts the Walking Liberty design created by Adolph A. Weinman. The reverse features an American eagle, the very symbol of the nation's freedom. It comes in the size of 1 troy ounce. This coin has a $1.00 face value.

Mexican Silver Libertad:

The Silver Libertad is Mexico's treasure coin and is minted at Casa de Moneda de Mexico, the oldest Mint in North America, established in 1536. These magnificent 1 troy ounce silver coins are very popular with collectors and investors. One side of the coin features the Mexican National Seal with the official name for Mexico in Spanish: "Estados Unidos Mexicanos." Outlining the contour of the frame is the reproduction of various coats of arms used throughout Mexico's history. The other side of the coin depicts two key symbols of the Mexican people: the Winged Victory statue in the forefront and the Mexican volcanoes Popocatepetl and Iztaccihautl in the background. This coin does not have a face value.

Please check out our online webstore. We only sell.999 pure silver bullion coins. Feel very confident when purchasing from us as we focus on 100% customer satisfaction and offer a full money-back guarantee! Most of all, we pride ourselves on the value of "INTEGRITY". Thank you for considering Investing In Bullion!

Kindest Regards,

Investing In Bullion

Website: http://www.investinginbullion.com

E-Mail: [mailto:info@investinginbullion.com]info@investinginbullion.com

Phone: 1-866-829-3176 (toll-free)

Address: Toronto, Ontario

Article Source: [http://EzineArticles.com/?What-Type-of-Silver-Coins-Should-I-Buy?&id=6958974] What Type of Silver Coins Should I Buy?

 

Copper: The New Silver?

 

By Doug West, Ph.D.

 

Most of us haven't considered copper in the same class as gold, silver, platinum, and palladium – this may be changing. Up until recently .999 fine copper was not readily available for those who would like to collect or hoard copper metal. Now there are dozens of designs and vendors of copper all over the internet. Copper may very well be the "new kid on the block" in the metals investment neighborhood.

 

Copper has been in wide spread use for thousands of years and is an abundant element with only a small fraction of the reserves economically viable for recovery. Copper is a ductile metal with very high thermal and electrical conductivity, which makes it very useful. The modern uses are so numerous it would be impossible to list. It is easy to say that it affects nearly every part of our lives from our homes to our cars. As the world becomes more industrialized, it is assumed that everyone will want a cell phone, car, and electricity in their homes. This all takes copper and the demand is speculated only to grow in the next few decades. Figure 1 is a graph of the price of copper over the last five years. As you can see, the trend is up.

 

 

Copper Price History

Figure 1 – Spot Price of Copper for the last five years

 

Copper trades a little differently from the precious metals like gold and silver. Copper is typically traded by the Avoirdupois (AVDP) ounce rather than the Troy ounce. The Avoirdupois (AVDP) ounce is a little lighter (28.35 grams) than the Troy ounce (31.10 grams). There are 16 AVDP ounces to a pound. The AVDP system is much more common in our day to day world than the Troy weight system. Items at the grocery store are in the AVDP system. Copper also trades by the Kilo, which is 1000 grams or 2.20 AVDP pounds. Figure 2 shows some examples of copper as it is currently traded. In the figure there is a Kilo bar, two ½ Pound bars, and two AVDP ounce rounds. Some of the copper round designs are very intricate and attractive.

 

Investing in Copper

Figure 2 – Copper Bars and Rounds Commonly Available

 

One of the first things that struck me as I started to investigate the pricing of .999 fine copper bars and rounds was how large the premium was compared to the futures price you see in the newspaper and on www.kitcometals.com. Typically on eBay and on websites you will pay $10 to $15 each for one pound AVDP bars and $2 to $5 each for 1 ounce ADVP copper rounds. Copper is at $4.40 per pound on the futures exchange this equates to $0.28 per AVDP ounce. I haven't found a definite answer as to the reason for the large premium, but here are a couple of my speculations: 1. the futures contract is for 25,000 pounds and delivery is in New York City. This is a very large quantity and transportation and fabrication charges become significant factors. By the way, less than one percent of the futures contracts for copper actually take delivery. 2. Fabrication charges – the cost of striking a 1 ounce copper round with an attractive design has to be close to $1 each. Once you take into account cost of material, the minting process, and transportation costs, this probably puts a $1 as the minimum cost of production for a one ounce round. If is very possible costs of production may come down as copper rounds and bars move into the mainstream and the production quantities increase.

 

In addition to copper in .999 fine bars and rounds, quantities of copper pennies are starting to trade as copper bullion. Each penny before 1981 is 95% copper and contains 2.95 grams of pure copper. In 1982 the mint switched to a copper plated penny with a zinc core. 1982 is a confusing year for the penny since both the 95% copper pennies and the copper plated pennies have that date. Currently, on eBay the pre-1982 copper pennies are being sold for around 2 cents each which equates to $2.22 per pound. Copper pennies are a definitely a less expensive form of copper to hold than the .999 fine bars and rounds. However, it is currently illegal to melt pennies. The pre-1982 pennies are already being hoarded, just as the wheat back cents were in the 1960's.

 

In conclusion, I would have to say that copper may just well be the new silver, that is the metal that can be purchased in abundance at a relatively small price. Keep an eye on this commodity as it may just break into the mainstream of metals investment in the near future.