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 Replies: 23 / Views: 3,375 |
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Pillar of the Community
United States
1450 Posts |
That's about 1.5 boxes a week for 5 years. I used to get better than 30% copper now it's about 18%. I hardly see any wheats any more but over that same time period I have gotten 42 rolls of wheat pennies,2 rolls of pre-1940 and a full roll of 1943 steels.
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Pillar of the Community
United States
687 Posts |
I understand the logic of hoarding copper, I just don't agree that the value will ever be worth the trouble. Silver and gold are completely different animals so I think the comparison is a poor one. If it ever goes Mad Max out here due to economic collapse, war, zombie apocalypse, etc I don't think copper will be portable enough to hide from people with bigger guns than you or from nosy government agents if they want to get at it. The time to make money is now - if you can buy copper cents for face, then sell them for 1.5 tunes face to speculators and convert that paper money into gold or silver, I think your return will be higher in the long run than if you just held on to the pennies.
I still have a small ~$30 face hoard myself that's left over from searching cents. Never hurts to play both sides of the fence :)
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Valued Member
United States
184 Posts |
I like your reasoning rollhunter. I guess if I come across them i'll just keep them.
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Pillar of the Community
United States
3402 Posts |
The copper bullion value is today about 2.86 cents. But that is not presently what you will receive. You can hold on to it for a while and see if the buy prices come up. Your other option is to sell them on ebay where they are fetching 1.5 cents per (1959-81/82). KK |
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Pillar of the Community
United States
609 Posts |
Quote:
how do you store you copper? I store mine in 50cal ammo boxes. I've only got like $20 face value in there so you can guess how much it holds. They're really sturdy, airtight, and waterproof.    |
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Pillar of the Community
United States
4541 Posts |
i keep all mine. no need to toss em out
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Valued Member
United States
447 Posts |
As they say... A Penny Saved, Is A Penny Earned. I save mine and sell 'em on ebay.  |
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Pillar of the Community
United States
3179 Posts |
If you don't hoard them, someone else will!  |
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Pillar of the Community
United States
1450 Posts |
I just never felt it was any real effort to sort and roll them. I figure even if copper drops I have a nice little savings account. When we reach $4.50 a pound I hope I can unload them for $50/box at flea markets. With no fees and no shipping it works out for buyer and seller at that point.
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New Member
United States
13 Posts |
Intrinsic value, ladies and gentlemen, intrinsic value! If/when paper money becomes devalued to rediculous levels, 95% copper coins will have REAL VALUE. I'm not sayin', just sayin'!
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Valued Member
United States
296 Posts |
You're 95% pure cents are red brass. Not #1 copper. You might want to find out what red brass prices are before you get too gung-ho with the hoarding. You''ll make a little money, but not what you think... Factor in fuel costs and labor to sort and store them, that number is getting slim...
Alex is a good guy over at coin-flation, but he is by no means an oracle. His theoretical numbers are just that. Theoretical.
Copper has never been traded as a bullion. That term is a recent marketing invention. Bronze and brass will never be traded like precious metals for their copper content. They will be a scrap alloy metal.
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Pillar of the Community
United States
1915 Posts |
I do not hoard copper cents. I feel it cuts into my roll searching fund without any big return. If 20% of a box is copper, then I lose $5.00 or 10 rolls worth the next time I get a box. Besides, supply and demand makes all of this speculation fruitless. If the government ever allows cents to be melt down for their copper content, the market would be flooded with copper, thus driving the price WAY DOWN. Not exactly a sound investment.
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Pillar of the Community
United States
609 Posts |
I agree with bowfin and seal, the only reason I save them now, is because now I can sell them for more than face. I dont plan on keeping them long term. Just a quick buck.
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Bedrock of the Community
United States
10635 Posts |
I think RollHunter is right... if you're able to profit on copper holdings right now, do it and reinvest in gold or silver for an even higher return. Cool thing I've found recently is that I am able to buy Canadian pennies at less than face here in the States, and Canada's pennies were copper through 1996!     Les |
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Pillar of the Community
United States
1151 Posts |
Now I know to saw my pre 1996 Canadian cents
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Posted 07/23/2011 10:41 am
