2p coins now worth 3p

Hamish · 13 May 2006 at 22:28

Britain's 2p coins are now actually worth 3p - thanks to the soaring price of copper.

Any 2p coins made before 1992 are now more valuable as scrap metal than loose change.

Earlier 2p coins contain 97% copper which has hit an all-time record price of $8,000 a tonne.

It means that 145,000 2p coins would be worth £2,900 at the bank - but about £4,400 as scrap.

One penny coins from the same period are also worth roughly 50% more than their face value.

in 1992, the Royal Mint introduced new 1p and 2p coins made of steel with just a thin copper plating.

http://www.ananova.com/news/story/sm_1838153.html?menu=

get saving!

Brum Man · 13 May 2006 at 22:29

Was on the front of the Guardian about 3 days ago.

Ricochet J · 13 May 2006 at 22:32

That's good. I have three old computer cases full of Copper's which I fill now and then, haven't unfilled it since 7 years back.

FeFiDoh · 13 May 2006 at 22:41

damn and i cashed a shed load in!

Visage · 13 May 2006 at 22:51

Brum Man said:
Was on the front of the Guardian about 3 days ago.

And THAT is why liberals are always right.....

ojo · 13 May 2006 at 23:02

Visage said:
And THAT is why liberals are always right.....

And the Guardian is now £1.05?

MR_Punk · 13 May 2006 at 23:04

Ive got a friend who works with pipes etc - he strips old pipes of copper on the side from work and makes over £200 a week doing it!

+44

Rich1988 · 13 May 2006 at 23:05

the only problem about this is its against the law to deface coins with the queens head on, defacing coins is illegal sadly :/

Tesla · 13 May 2006 at 23:06

Plus-44 said:
Ive got a friend who works with pipes etc - he strips old pipes of copper on the side from work and makes over £200 a week doing it!

+44

My friend is a heating engineer, more commercial stuff.

He sometimes gets to scrap copper immersion tanks!

MR_Punk · 13 May 2006 at 23:06

Tesla said:
My friend is a heating engineer, more commercial stuff.

He sometimes gets to scrap copper immersion tanks!

It sounds like an easy way to make cash - I think he's saved something like 8k towards his first house!

+44

wnb · 13 May 2006 at 23:08

That will explain why theives tried to nick copper wiring from signals near carlisle the other day.

Rich1988 · 13 May 2006 at 23:08

I wanna make money from copper pipes and stuff

benjo plz. · 13 May 2006 at 23:09

Visage said:
And THAT is why liberals are always right.....

Funny, they seem to have some problems with lack of power, alchohol and rent boys

.

VeNT · 13 May 2006 at 23:17

ojo said:
And the Guardian is now £1.05?

unless you pay using 2ps

Neolink · 13 May 2006 at 23:44

irritating as i just cashed a few hundred pounds worth of coppers in febuary, i bet a lot of them were pre-92

FordPrefect · 13 May 2006 at 23:47

How long before the government "introduces" new 2 and 1p coins to get all of the old ones handed in?

Bumhucker · 13 May 2006 at 23:50

Don't forget guys, melting down coins of the realm is illegal

Aod · 13 May 2006 at 23:52

Rich1988 said:
the only problem about this is its against the law to deface coins with the queens head on, defacing coins is illegal sadly :/

actually, about 3 years after parliament put this through, they out another law through that made that one null and void.

effectively, you can deface the queens face on a coin without fear of repucussion.

Meridian · 14 May 2006 at 00:10

FordPrefect said:
How long before the government "introduces" new 2 and 1p coins to get all of the old ones handed in?

Er - did you get beyond the first sentence of the original post?

in 1992, the Royal Mint introduced new 1p and 2p coins made of steel with just a thin copper plating.

Steel is worth next to nothing, as any scrap dealer will tell you.

M

Bumhucker · 14 May 2006 at 00:13

Meridian said:
Er - did you get beyond the first sentence of the original post?

Either he didn't read it or he meant a new shape or size of coin making the old ones totally worthless to everyone else.