Can Pennies Be Sold for Scrap Metal in Calgary?
On February 4, 2013 the Royal Canadian Mint officially stopped distributing the penny. This Economic Action Plan initiative made economic sense, as it is now saving taxpayers about $11 million a year. Phasing out the penny did, however, leave many Canadians asking what they could do with their pennies, and if they could perhaps be sold for scrap.
Unfortunately, pennies do not qualify as scrap metal and cannot be sold to a Calgary copper recycler such as Federal Metals. For one thing, pennies haven't been made of copper since 1997. They are today mostly composed of steel with copper plating. For another, melting or otherwise defacing pennies is against the Canadian Criminal Code, as they are still considered to be legal tender.
What to Do with Your Leftover Pennies
If you've still got leftover pennies, then you have a couple of good options for getting rid of them:
1. Spend Them
Pennies can still be spent in cash transactions on goods and services, but only at business that are willing to accept them.
2. Redeem Them
If you have a huge collection of pennies, then you'll be better off redeeming them at your financial institution by putting the amount into your account or getting it back in larger denominations. Keep in mind that your institution may request that your pennies be rolled.
Household Sources of Scrap Metal That You Can Sell
So, you may not be able to scrap your pennies, but you are likely to find plenty of recyclable scrap metal around your house if you just know where to look. For example:
- Bathroom: metal shelves, fixtures, plumbing pipes, electronics in old washers and dryers.
- Kitchen: pots and pans, stainless steel silverware, old stove parts.
- Living room: old TV capacitor, steel or aluminum lamps, A/C units.
- Patio: wrought iron patio furniture, iron railings.
- Garage: old power tools, bicycles, nuts, screws, bolts, car parts.
Gather up all of your scrap metal and bring it over to the scrap metal recyclers at Federal Metals. We are located in SE Calgary and offer great prices on scrap metal. We buy copper, aluminum, stainless steel, iron, a variety of electronic components, and more. What are you waiting for? Trade in your scrap for cash today!