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Valued Member
United States
466 Posts |
unholy roller pretty much turned me into a hoarder with that little post right there hahaha
I might just start saving some of mine, and everyone is right, they don't take up that much space
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Bedrock of the Community
United States
20753 Posts |
 Lots of different ways to look at hoarding. For one thing if the price of Copper goes down, you have a pile of Copper coins still worth one cent each. If you just want to melt it down to blocks of Copper, you'll need the equipment to do that and the price of that will negotiate little profit. If you have a metal smelter near you that melts anything metal, regardless of such laws, you could take them there and get a fraction of what they are worth. And you may end up with your photo taken by the Fed's. If you simply put that same amount of money in a bank, stocks, bonds, etc. you should make a profit of some type. And then have to pay taxes on that profit. If you hoard Copper Cents for about 20 to 40 years and pass away, it's to late to wonder what you should have, could have, might have done with that money. When you get old you start thinking of things like that. Young people think they will live forever. I like to think of collecting coins for fun. Hoarding for a tomorrow that may never come to me is way to late. |
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Pillar of the Community
United States
1903 Posts |
Justcarl, one thing I was pointing out is short term hoarding then selling them on ebay. Making a 20% return on your money in the SHORT term makes a lot of sense in today's economy. Lets say you turn your money once very other month ( which is totally realistic ) and say you start with say $500 face of copper cents. So lets say you sell them at 1.6x face, but after fees and "sweat equity" only realize 20% profit. You now have $600 to reinvest. Second go around $600 turns into $720 Third turns into $864 Fourth....$1036 Fifth....$1244 Sixth....$1492 or lets just round up to $1500 You started the year with $500 and at years end have $1500....show me any bank account that bears that sort of return and all along you still have your face value. |
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Pillar of the Community
United States
6326 Posts |
I believe that Mr. Oceanwhisperer is not aware of his topic move. I think he may have just noticed it "disappear" and didn't come back ? ...  When I was still "green" here....I was lost & confused when this happened to me a couple times, till I finally figured out what happened ! It's all simple and old hat when you've been there done that......not-so-much when you're a greenhorn. Try having a topic moved to the "secret place" when you're still "new" ! ......  Maybe a "reach out" from someone might bring him back ? Just some comments from a concerned citizen......  |
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Moderator
 United States
189340 Posts |
He was automatically sent an e-mail when the topic was moved. The e-mail contains a link to the thread.  Good to see you again, Eaglefoot!  |
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Pillar of the Community
United States
3345 Posts |
Quote:
Why are copper pennies (pre 1982) worth collecting when you can't melt them or easily sell them as copper bullion?! Here's what 90 people think.  Welcome dude. https://goccf.com/t/90882 |
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Pillar of the Community
United States
1007 Posts |
I think people around here are hoarding them. I see very few pre 1982 cents in change anymore. But since it's been 30 years since they were minted, how many wheat cents did you find in change in 1988, 30 years after they stopped minting them? Hardly any.
Might as well find a can and hoard them yourself. There's always room for some extra coins.
And welcome to the forum.
Edited by matchbox
09/12/2011 10:04 pm
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Valued Member
United States
493 Posts |
I've been saving coppers, I've got about $500 in face value, takes up about two five gallon buckets that are impossible to lift, so they go into gallon containers now instead. My theory is that if you can find something better to do, any kind of work, it should be more profitable than saving copper cents. THEN, take that money and buy nicer coins.
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Pillar of the Community
United States
687 Posts |
I have a small hoard (maybe $50 face or so), but it's all incidental from searching penny boxes. If you're already searching boxes it's probably profitable to separate the copper and flip it, but unless you fork over the $$$ for a ryedale and have some massive source of pennies "everything" is probably right. Hand sorting the amount of coins necessary to make it worth your while just takes too long if you're solely doing it for resale value.
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Bedrock of the Community
United States
20753 Posts |
Quote:
You started the year with $500 and at years end have $1500....show me any bank account that bears that sort of return and all along you still have your face value.
The problem with those statistics is they are based on a person being able to pass the neighborhood bar without going in and blowing that original $500 during the year. And worse yet is ending up with the $1500 and still blowing it at the same bar. |
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Valued Member
United States
320 Posts |
Here's another benefit to hoarding.
Let's say you have $50 face value. It's easy to take a $50 bill, turn around and ....hey! where'd that $50 go? With pennies, that's not so easy. You prettymuch have to take them to the bank and deposit them first. You could be a jerk and try to spend them, but most people wouldn't.
So anyway I look at it as a slush fund... it's still there if you decide you need it, but that extra step encourages you to think about it 1st. And it is likely appreciating in value, at least a little.
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Pillar of the Community
United States
784 Posts |
I hold all of mine that I find. if I ever really need the money I can always sell them.
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Pillar of the Community
United States
4989 Posts |
Note that you don't really need to sort pennies to hoard. You can just weigh the roll and annotate based on that the % copper. That lets you derive copper melt value of the roll:
# COPR Weight % Copper
0 125 2.50%
5 128.05 11.75%
10 131.1 21.00%
15 134.15 30.25%
20 137.2 39.50%
25 140.25 48.75%
30 143.3 58.00%
35 146.35 67.25%
40 149.4 76.50%
45 152.45 85.75%
50 155.5 95.00%
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Pillar of the Community
United States
781 Posts |
i just sold $50 FV for a little over $80. I'm keeping a small stash of coppers for myself, but i'll be selling another batch of $50 FV, it frees up a little space and puts a little extra $ in my pocket for more roll hunting. it's basically a self-generating product, at least for the moment. ;-)
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Pillar of the Community
United States
6326 Posts |
Two pages of replies........still no Oceanwhisperer....  |
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Replies: 23 / Views: 3,913 |
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First Page
Posted 09/06/2011 2:34 pm
