The thing is melting it costs money too. Also most pennies have other metals mixed in for durability. Usually zinc. So to get the copper value you have to get those other metals out. That also costs money. Most places that recycle metals do not take pennies for melt value. They usually just do not want to mess with it. I would estimate it would have to be closer to 4-5 cents per penny before it would be profitable. But that is just a guess.