Here's the official link...Nightline Penny Hoarders.
My position is that people who hoard coins are slightly nuts. I mean take the money now and buy some silver, gold, or platinum. You now what buy dinner for your family that would be more rewarding.
Nightline first teased it as a scheme then said it is enterprising.
First up Joe Henry has 200,000 pennies or $2,000. He uses the analogy if he had Enron stock or some dot.com stock it would be worth nothing. (I would say what if he had Google or Microsoft stock.)
Next is Adam Youngs is a professional penny sorter who sells $100 of pennies for $176. He is so giggly it reminds of a kid who knows their doing something naughty and is getting away with it.
It is against the law to transport $5.00 in pennies outside the country.
It is against the law to melt pennies or nickels.
The law against penny melting may be changed the next time the lawmakers meet.
At the end the buyers and hoarders are hoping They watch copper values go up, the theft of copper going up, and see the market for copper get larger. Unfortunately even if the law does change the market is bound to crash. Imagine billions and billions of pennies being turned to copper-smiths.
Update from an early story done on Joe Henry:
Joe Henry says the time it takes to get enough pennies to get a major windfall isn't worth it, but says he is continuing to collect for his son.Joe Henry has a son diagnosed with autism and he used collecting to teach the boy to be more social.
The ABC story focused on the business of penny hoarding while the local station got the back-story. I think an Autism penny drive would do this family good.