What's the Scrap Metal Value of a US Penny?
A US penny, also known as a one-cent piece, is primarily made of copper-plated zinc. The scrap metal value of a penny varies depending on the current market price of copper and zinc.
Scrap Metal Price:
As of January 2023, the scrap metal value of copper is approximately $0.50 per pound. Zinc, on the other hand, has a scrap metal value of around $0.30 per pound.
Penny Weight and Composition:
A US penny weighs about 2.5 grams (0.088 ounces). It is composed of 97.5% zinc and 2.5% copper.
Scrap Metal Value Calculation:
To determine the scrap metal value of a penny, we need to calculate the weight of copper and zinc in the penny and multiply it by the respective scrap metal prices.
Copper Weight: 2.5 grams x 2.5% = 0.0625 grams Zinc Weight: 2.5 grams x 97.5% = 2.4375 grams
Scrap Metal Value:
Copper Value: 0.0625 grams x $0.50/gram = $0.03125 Zinc Value: 2.4375 grams x $0.30/gram = $0.73125
Total Scrap Metal Value: $0.03125 + $0.73125 = $0.7625
Therefore, the scrap metal value of a US penny is approximately $0.7625.
Related Questions:
- What is the face value of a US penny? - 1 cent
- What is the diameter of a US penny? - 19.05 mm
- What is the thickness of a US penny? - 1.52 mm
- What is the year of the first US penny? - 1793
- What is the monetary value of a US penny today? - 1 cent
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