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 Replies: 23 / Views: 3,131 |
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Pillar of the Community
United States
2224 Posts |
I'm trying the best I can to avoid machine rolled coin from banks. For the most part, CWR's are still well stocked with copper, at least that is what I am finding.
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New Member
United States
7 Posts |
My average is around 23-24% from brinks boxes I've never got less than 18% and never over 32% I havent been doing cents long and I only do about a box a week.
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Pillar of the Community
 United States
1450 Posts |
I guess the upside is,when copper in circulation is minimal,then the melt ban will be lifted. I figure there will be an announcement that the cent will no longer be minted at the same time the melt ban is lifted. It may happen yet this year. When it does,you better melt them quickly because there will be a flood of copper into the market and the price will drop like a rock.
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Pillar of the Community
Australia
4411 Posts |
I would question whether or not the amount of copper hoarded in copper cents is enough to lower the price of copper significantly if all melted and sold at the market at the same time. My guess would be no.
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Pillar of the Community
Mexico
1304 Posts |
Agreed...I really don't think there are that many horders out there.
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Valued Member
United States
161 Posts |
You have to wonder if you got someones dump. I'm just a rookie with only a couple hundred dollars searched but I've yet to see even a roll with not a single copper.
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Pillar of the Community
Australia
4411 Posts |
I have done some very rough calculations:
Assuming the composition of US pennies didnt change in 1982 and they were still copper.
Roughly 3 Billion have been made weighing 3.11grams each.
3,000,000,000 x 3.11 = 933,000,000,000
Total mass of all pennies ever made in grams / 1000 to get KG = 933,000,000
Total mass of all pennies ever made in KG / 1000 to get Tonnes = 933,000
This would be much less as the composition has been changed for three decades now and the mint are pumping out pennies as fast as ever.
The expected production of Olympic Dam the Worlds largest mineral deposit once upgraded is 750,000 tonnes per year.
In one year one mine comes close to producing the total amunt of copper contained in US cents.
I doubt every US copper cent ever produced could enter the market at once but even if it did I doubt it would change the price much.
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Valued Member
United States
366 Posts |
VGRX,
It depends greatly on where you are located. Like CWS has said, people from the east coast have been reporting large amounts of non-copper boxes. These are almost only brinks boxes. So if you're not getting brinks boxes or from a different part of the US you are probably okay for now.
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Bedrock of the Community
United States
19969 Posts |
Quote:
Roughly 3 Billion have been made weighing 3.11grams each. 3 billion? That's about half of a single year's production. |
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Pillar of the Community
United States
3345 Posts |
 16 Billion coppers in 1982 ALONE Edited by rachums107
06/29/2012 10:10 pm
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Pillar of the Community
614 Posts |
Yea, I thought that that was kinda low.
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Pillar of the Community
Australia
4411 Posts |
Shock horror  The internet was wrong  In that case just ignore the nutcase   300 billion is what I actually read and should have used  I still dont think its enough copper to have a massive impact on the market. Edited by enworb
06/29/2012 11:20 pm
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Pillar of the Community
United States
927 Posts |
I still find lots of copper pennies on the street. They are not gone yet.
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Pillar of the Community
United States
4212 Posts |
I've found using Craigslist to barter off buffs and such brings in a decent amount of wheats. People may have just a handful, but I tire of pulling 8-10/box.
But, strictly copper, I get a solid 25% in Idaho.
My g-son's Can. '20-'88 is nearly complete with the '21 coming last week.
Edited by fioti
06/30/2012 11:20 am
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Pillar of the Community
United States
1450 Posts |
Just for fun I got 10 Brinks wrapped rolls and 10 customer wrapped rolls of cents. Again,not a single copper in the Brinks rolls but a solid 22% copper in the CWR's. I am not going back to banks that have Brinks wrapped rolls. It may be my location,but,the frequency of getting copper skunked is more than just coincidence. I will scour the area for CWR's and hope for the best. As a side note,I have not found a Wheat cent in over 3 weeks. They have gotten very scarce around here. |
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Replies: 23 / Views: 3,131 |
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Posted 06/28/2012 12:20 pm
