Copper Melt Value Calculator

Copper melt value is calculated by converting the weight of your copper item to pounds, multiplying by its purity percentage, and then multiplying by the current copper price per pound. Unlike gold and silver, which are priced per troy ounce, copper is priced per pound in the US market.

Worked example: Suppose you have a jar of 1,000 pre-1982 Lincoln pennies. Each penny contains 2.95 grams of pure copper. That's 1,000 × 2.95g = 2,950 grams of pure copper. Convert to pounds: 2,950 ÷ 453.592 = 6.505 pounds. If copper is trading at $5.64 per pound, the melt value is 6.505 × $5.64 = $36.69. That's the intrinsic metal value of those 1,000 pennies — compared to their $10.00 face value.

Pre-1982 vs Post-1982 Pennies

The composition of the US Lincoln penny changed in 1982. Pennies minted before 1982 are made of an alloy that is 95% copper and 5% zinc, with a total weight of 3.11 grams. Starting in late 1982, the Mint switched to a much cheaper zinc core with a thin copper plating — these "zincolns" are 97.5% zinc and only 2.5% copper, weighing just 2.5 grams.

The year 1982 is the tricky cutoff: both copper and zinc pennies were produced that year. The only reliable way to distinguish them is by weight. Copper pennies weigh 3.11 grams; zinc pennies weigh 2.5 grams. A kitchen scale accurate to 0.1g is sufficient. You can also try the "drop test" — copper pennies produce a clear ringing sound when dropped on a hard surface, while zinc pennies make a dull thud.

Legal note: Melting US pennies and nickels is technically prohibited under 31 CFR 82.1, a regulation enacted in 2006. However, the melt value is still critically important for buying and selling decisions, collector pricing, and understanding the true intrinsic worth of these coins.

Common Sources of Scrap Copper

Beyond coins, copper scrap comes from many sources. Copper wire is the most common — electricians, contractors, and demolition crews generate large volumes of scrap wire. Stripped wire (bare, bright copper with no insulation) commands the highest prices, while insulated wire is worth less because the buyer must factor in the cost of stripping. Copper pipe and plumbing fittings from home renovations are another major source, typically grading as #1 copper if clean.

Scrap yards use a standardized grading system. #1 Bare Bright is the premium grade: clean, uncoated, unalloyed copper wire or bus bar with no solder, paint, or corrosion. #1 Copper includes clean pipe, tube, and bus bar that may have light oxidation. #2 Copper has paint, solder, light corrosion, or mixed alloys. Each grade commands a different percentage of the spot price, with Bare Bright getting the best payout.

What Dealers Pay for Scrap Copper

Scrap yards typically pay 75–90% of melt value depending on the grade and quantity. #1 Bare Bright copper gets the best price, often 85–90% of spot. #1 Copper pipe fetches 80–85%, while #2 Copper with impurities may only bring 70–80%. Small quantities (under 10 pounds) generally receive lower percentages because the transaction costs are proportionally higher. Always weigh your copper before visiting a scrap yard and compare their offer to the melt value shown on this calculator.

For gold and silver scrap calculations, see our scrap gold calculator and scrap silver calculator. For coin-specific values, visit US gold coin melt values or US silver coin melt values. For nickel scrap, see our nickel melt value calculator. Or return to the melt value calculator homepage.