So the key question is buying pennies a good idea? I say absolutely no, and here's why:
- 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.
Plainly shipping and warehousing costs would be a significant drain on any large penny investment. Companies like the Portland Mint offer storage options, but that means they retain the pennies while you just get the bills for the storage, which isn't cheap. Of course, there's always the worry of proving ownership should the Portland Mint go out of business or even change ownership.
In short, invest in gold and silver and take delivery of your metals.
Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):
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