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Rest in Peace
United States
18456 Posts |
I used to hoard 95% copper cents until I realized I was spitting against the wind , so I dumped them all at my TD Bank when they still had a coin counting machine . Used the proceeds to buy some nice collector coins . But every member has different views on whether to hold them or dump them .  |
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Bedrock of the Community
United States
94367 Posts |
Just too much work for too little return.
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Rest in Peace
10197 Posts |
ImTBM, ditto to your searching reasons, but like Finn, I dumped about 10,000 XF+ back for somebody else to hoard. #1) the cost to refine a cent (when it can be done) is quite high, that will keep realized returns down, compare to current junk silver returns. #2) when the ban is lifted the market will be flooded and engorged with bulk copper. This will be WAY over the market need and usability for the metal. Its use is limited #3) current recycling methods meet market demands, why price for raw is low and stable. The recycling lobby will fight to death to prevent a flood of marketable copper from hitting the market #4)after trying to sell BU collections 1959-2015 to no avail and have trouble selling Wheat cent bulk and collections currently, the market demand isn't there. In the future ONLY the top quality will sell. I shifted to stockpiling BU/MS rolls. Am attempting to get a full series of rolls, so far its 1956D through 1963 and scattered to 1979. This has value now and will increase in future. Anything less won't. There are too many doing what I'm doing. Market will be very fat. 5). I decided I needed to invest in better ways, $100 was good seed money to flip coins on ebay., and take the pressure off of other collection purchases making high rate of increases. Edited by Crazyb0
11/03/2017 3:09 pm
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Bedrock of the Community
 United States
12839 Posts |
Interesting conversation. I have a jar of copper cents from circulation and CRH; nothing too crazy. OP said: Quote:
At worst you have the dollar amount saved. True, except you have to factor in inflation eating away at the value. Now I, too, CRH to relax and my "stash" is small so I don't mind any loss due to inflation. Now I do recall a thread from a few years ago that had an ebay link where someone was selling something like 15 40-gallon Brute garbage cans full of copper cents. Inflation would be a bigger concern with a hoard that large. I wish I had saved the pictures from that auction... truly remarkable. |
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Moderator
 United States
188770 Posts |
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I might need to be clearer about my main goal. My near goal is to relax & enjoy this new hobby. I hope to learn a lot more about the coins themselves here with everybody's help. As far as long range, my goal is to leave something of some value to my niece & nephews. I have been buying silver as it seems to be close enough to the bottom for my long range plans. I have no get rich, never mind get rich quick plans. Sounds good to me.  |
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Pillar of the Community
Canada
3049 Posts |
My opinion is probably the opposite of most here... due to inflation you're losing money the longer you hold on to it.
I remember someone once did a comparison of gasoline prices when silver was used in circulation, versus the same price of gasoline and the price of silver... the end result was that it was the same price.. however you if you sat on that money for a net/net 0 gain... you simply lost money.
In general a conservative ETF will gain 5-7% per year.
So any money you have just sitting around should gain the same amount year over year or else you're losing money that could've been made furthermore you're losing value as inflation rates are anywhere between 1 & 2%. Combined net loss of almost 9%.
You are so much better off CRH'ing if that's what you want to do... extract your finds and just send the rest to the bank to continue your CRH'ing or putting that money in some type of investment vehicle.
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Valued Member
 United States
174 Posts |
Thank you all for your input. I go through a penny box every week or two as I usually don't open more than 2-4 rolls at a time. I am not what I would consider a coin collector at this time, but I have always been a collector. I kind of stumbled into this on YouTube and I am enjoying the hunt. Very relaxing going through a couple rolls and looking for variants adds to the fun (as the hunt has always been my favorite part of collecting). I figure as I get into this I can go through the copper pennies later if I end up collecting (which I fully expect will happen). Maybe build a nice little collection to leave when I'm gone. I left a link asking about the zinc pennies as I'm hoping to fund what I keep now by finding a few coins to flip or trade. Thank you all for the help. I will try to keep my questions to separate post so they wont run on so long. On a quick side note, how long has this site been up. It has wealth of knowledge and a very helpful community here. I'm still trying to find my way around the site. I have only been watching the coin & CRH videos on YouTube for a month or two and only found CCF the other day. I look forward to the day I might be able to help some other newbie that comes along as you all have been doing for me.
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Bedrock of the Community
United States
12477 Posts |
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On a quick side note, how long has this site been up. It was started in 2005. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Valued Member
United States
174 Posts |
A quick question for anyone who was hoarding copper, but have stopped and got rid of their hoard at face value. It seems like there is a market for copper pennies currently at 1.5 cents each in bulk. Was selling $100.00 face for $150.00 not an option? Maybe not worth the profit after selling costs? Just curious to see what others who have been there and done that have to say.
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Rest in Peace
10197 Posts |
Been there, done that, have a very torn and worthless T-shirt. Try it sometime. You may get a buyer(aka. Sucker) on Craplist or one of the local sales IP outlets....eventually....after a year's worth effort. Is that worth $50(quite unreasonable since can buy from PM Outlets for less) really worth the time and effort, wasn't to me. Mine like I said were handpicked from 750,000 CRH cents and XF+'s. So yea, used that $100 to buy auction lots of foreign silver, flipped a worn $.50 Canadian Vickie for $100 from a $7.50 investment! What's $100 of lower grades really worth? And BTW, even if these lots were"unsearched", just how much chance of fining a worthwhile flip coin is there. Most of these, unless just milked from distribution centers, are at least cursorily surveyed for minor errors, clips, blanks, offsets, those easily naked-eye seen errors. Some like mine were scoped for RPM/DDO / DDR's as well. You really have to be just into hoarding copper to save a coin, just not enough intrinsic value not prospective chance of any to me. Even silver coins can fit this same category. Take silver nickels, has more silver in 10 cents that a quarter but would cost more to refine for silver than would a quarter after all said and done. Edited by Crazyb0
11/04/2017 1:49 pm
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Pillar of the Community
United States
2207 Posts |
My general thoughts on copper pennies:
Boring. Waste of time. Never going to be worth anything.
You asked.
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Pillar of the Community
Canada
3049 Posts |
If you're already CRH'ing and separate the coppers... if you can get 1.5 cent for them selling 'em in bulk... good on ya and fill yer boots!
That won't be the motivating factor for me to CRH though.. it would be a perk of doing something you already enjoy.
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Valued Member
United States
174 Posts |
I did ask jpsned...lol...ty for posting. AgCoinAu...to be honest I'm not sure why I'm hunting the cents other than the YouTube video's got me interested. I found it relaxing opening some rolls of pennies here & there. Separating the copper made sense to me. I have always been a collector and love the hunt. I figured if I pull some variants or great condition coins and can pay for the boxes I go through all the better. If there is more pulls than that, maybe I end up collecting along the way. If not I can either sell or trade them for things I have interest in. I am enjoying the journey, learning what I can from everyone here. Right now I'm valuing the hunt for knowledge about these coins (& even some paper notes). Everything now is brand new and I'm just trying to enjoy it while I can.
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Pillar of the Community
United States
2271 Posts |
Quote:
I did ask jpsned...lol...ty for posting. AgCoinAu...to be honest I'm not sure why I'm hunting the cents other than the YouTube video's got me interested. I found it relaxing opening some rolls of pennies here & there. Separating the copper made sense to me. I have always been a collector and love the hunt. I figured if I pull some variants or great condition coins and can pay for the boxes I go through all the better. If there is more pulls than that, maybe I end up collecting along the way. If not I can either sell or trade them for things I have interest in. I am enjoying the journey, learning what I can from everyone here. Right now I'm valuing the hunt for knowledge about these coins (& even some paper notes). Everything now is brand new and I'm just trying to enjoy it while I can. I strongly encourage you to do exactly what you are doing since the activity is relaxing and highly educational. It can also be very satisfying when you complete a collection after months or years of hard work. But you might be interested to know that pennies have an exceedingly low turnover so they aren't getting worn out and high grade coins might sit in a jar for 40 years. It's not at all unusual to find old BU cents in circulation. This is far less true of other denominations. The mint rotates their coin stocks and many coins (especially dimes and quarter) rarely sit for more than a couple years. This means they are all getting worn out very evenly and finding nice VF or AU examples is much more difficult and potentially more rewarding financially. Whatever you do I wouldn't stop what I enjoy but you might consider adding other denominations like nickels, dimes, or quarters to your searches/ collections. With some of these other series you'll have less competition as well. Perhaps the least competitive area with the highest attrition is dimes now days. Time don't fly, it bounds and leaps.
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Valued Member
United States
174 Posts |
ty Cladking. I have been looking at everything, but profit is not my main motive (at this point, maybe that changes later). I am having fun right now and I'm enjoying going through the cents for now. There is so much to learn I'm trying to not spread out to much to quick. I already feel like I'm in the lifeboat without an oar. My hands are full with plenty of questions just stacking silver and hunting cents & some notes. The more I learn, the more I will know what to ask.
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Replies: 21 / Views: 3,925 |
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Posted 11/03/2017 3:03 pm
