A penny saved may still be a penny earned, but the real question for investors is whether a penny purchased is actually worth a nickel when it comes time to figure their return on investment.
Plenty of small-time investors are betting that the penny will someday be valued like its larger cousin, and so they are snapping up pennies. Taking pennies out of circulation and collecting them is one thing, but paying a premium to buy pre-1982 pennies for their copper value is another, and for most investors, it would be a Stupid Investment of the Week.
The case of the penny is compelling, because everyone has them and can relate to the most common of coins. Moreover, the math behind the move to buy pennies looks compelling. The real question is one of practicality. ...
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