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 Replies: 89 / Views: 14,841 |
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Valued Member
United States
61 Posts |
Given the low profit margin due to copper still being worth only about twice face on melt value it would take a very large volume of pennies to make a sensible profit. Given the logistical cost of this and the added complication of the current melt ban in place I do not believe copper penny hoarding is worthwhile in a financial sense. However, as a hobby and for starting children off with an appreciation of coin collecting I think it has merit.
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Pillar of the Community
United States
8516 Posts |
Ha, I think you'll find that most roll hunters have issues of some kind and we hoard because it's our nature. It's not really about the money. It's funny how fast they add up once you start saving the coppers.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
979 Posts |
I think collectors, especially CRH, have a tendency to save anything worth more than it's face value, even if the difference is slight!
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Moderator
 United States
188648 Posts |
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... we hoard because it's our nature. It's not really about the money. I agree.  |
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Pillar of the Community
United States
1098 Posts |
Quote:
we hoard because it's our nature. It's not really about the money. Quote:
I think collectors, especially CRH, have a tendency to save anything worth more than it's face value, even if the difference is slight!  I also agree.  .. But why do people keep throwing the wet blanket on it?  Nothing against the previous poster, I will just use their words to make a point: Low profit Margin, only worth twice face value, sensible profit, logistical costs, current melt ban in place, not worthwhile in a financial sense, and all the other over analytical thoughts that have been expressed against doing this... I bet if you ask hoarder's what they thought about that they would all unanimously scream WHO CARES !!  It's about fun, collecting, and yes there is a hope that someday it will turn a profit but is anyone really using this as their golden parachute or 401K retirement plan? It's a hobby just like the rest of us collect coins and have a budget for purchasing them so does the hoarder. Except that unlike the collector who pays a premium over face value and sometimes over bullion value for coins, the hoarder gets theirs at face value. And at the end of the day will get back at least what they paid for them. While the mainstream collectors (like me) are faced with the possibility of one day having to sell their coins for less than they paid... So please, please can someone else tell us why this is such a huge waste of time and money?  Then tell us what hobby isn't? |
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Valued Member
United States
192 Posts |
i hoard mainly copper but you wont see me throw any 1984 or 1992s,98-2000(p), and definetly taking the hand in the keeping of 2009 out of circulation... its crazy why I have to and want to just have all of them. Guess I hoard Key dates and all coppers
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Pillar of the Community
United Kingdom
837 Posts |
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Pillar of the Community
United States
1277 Posts |
^^Good looking bank teller
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Valued Member
United States
180 Posts |
I have about $275.00 in copper pennies all hand sorted and boxed in penny boxes.
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Pillar of the Community
1325 Posts |
I am jut keeping a box of 70s, and working on a box of 60s. Other than that just all 82s until I figure out which ones are which then get rid of the rest, and a box of 59~52 year and mintmark rolls. not big and small, but just 1 roll of 70 mixed, one roll of 70D mixed, one roll of 70s... etc. I would get rid of the box of randomly mixed 70s if I needed to without even being bothered by it, because it was fun to make the box and gave me something to do during those cold winter months.
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Pillar of the Community
United States
1450 Posts |
I have about $1250 and adding daily. I have hit some rich copper rolls lately, almost 25%.
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Pillar of the Community
United States
964 Posts |
At first when copper pennies were at 3 cents melt value, I collected Coppers like crazy. I had (3) 5 Gallon water jugs full of Copper pennies. When silver dropped I took those bad boys in to the bank and bought a lot of silver coins for spot!! I'll probably start another Copper collection when silver goes up down the road.
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Pillar of the Community
United Kingdom
837 Posts |
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^^Good looking bank teller Very good observation ! Another interesting thing in that news story is Adam Young who runs that sorting facility were the reporter said they have had inquiries from hedge funds  .....that was a fascinating little detail, I wonder which hedge fund managers were looking into copper pennies ..... what would the people putting money into the hedge fund think of that idea   I would love to be at that meeting , hedge fund manager telling investors their money is going into a hoard of copper pennies ! Edited by DaytR
05/14/2014 4:06 pm
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New Member
United States
21 Posts |
I have just under $52.00 in hand sorted US pennies. Every time I get some change I just separate them out (I also bought a few rolls to search for wheaties, but had very little luck on that front- although it seemed like about 9-10% of the pennies were pre-1982).
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Pillar of the Community
Canada
519 Posts |
If you can still get pennies in Canada finding copper is relatively easy because they go up to 1996. I once picked up 74 rolls that were 99%+ copper although that isn't common. I was up to ~30 000 copper pennies in a short period of time but my wife didn't like it. Also money was tight so it wasn't practical to have even a few hundred dollars sitting around. I'm now more of a cherry picker than a hoarder but the situation being only slightly different I can easily see myself with heavy plastic bags and buckets full.
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Replies: 89 / Views: 14,841 |
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Posted 11/08/2012 12:04 pm
and their sound 
