Trump Penny-Killing Plan Stirs Hope of Profit, 20 Tons at a Time
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Adam Youngs is looking to make a lot from truckloads of the little red cent.
His company, Portland Mint, sells old pennies in bulk — 40,000 pounds (18,100 kilograms) at a time — to investors angling to profit on the copper that makes up 95% of the coins minted before 1983. A cache of one-cent pieces from Portland Mint with a face value of roughly $60,000 sells for about $120,000.