Transcript for Show Me the Money: Penny Hoarders to Cash In?
-- show me the money time. If you're about -- -- some collectors who are putting a new twist on the old saying a penny saved is a penny earned. ABC's Neal Karlinsky shows how they are doubling their money. Hardly need a penny for -- -- thought. Got any any today call -- -- would like fire back. First name basis bank -- across his hometown of Medford Oregon scouring fifteen thanks so -- with a one thing on his mind. Pennies where -- -- what you got. Frank really good -- yeah. He -- surrounded bags of pennies buying some changing others back in for cash but he's no collector and he's not alone he's what's known. As up penny order. With an astonishing 200000. Pennies in a shed next to his house he spends hours sorting -- left her role. Looking for pennies from 1982. Or earlier. Because those pennies are made of copper and get this copper penny is worth more than a penny it's worth 2.4 cents. He even has a 500 dollar home counting machine to separate the copper wants him when the penny drops through. Yet this decides what if -- zinc -- copper. Take a look at eBay and you'll find a slew of listings for pennies in bulk ten dollars in pennies being sold for twenty dollars. Six. Strange business Adam young's has perfected. He runs a massive penny sorting operation what kind of money we're talking about how much are you holding. Disc in face value alone about two -- 3000 dollars right now that's not even the copper values copper values about three times so. Let -- -- weird world of penny hoarding getting to the copper is a very big problem because it's illegal to melt pennies but in what could be the biggest legislation to hit the US mint in fifty years. Officials are now looking at the composition of pennies and considering an overall. So -- they get rid of the penny. Right then you can melt your pennies that's right and then there you wealthy man the F flirts which is why Joseph Henry's 200000. Penny collection will only get bigger. And might seem auto. Strange but they're worth at least a penny. And maybe some day a lot more just for Good Morning America Neal Karlinsky ABC news.
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