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 Replies: 50 / Views: 7,275 |
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Pillar of the Community
United States
814 Posts |
For me the answer is simple. I don't collect cents and I don't stack copper.
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Pillar of the Community
1325 Posts |
I am working on a box of each mint by year or memorials, have a box of 70s mixed, and working on a box of 60s mixed. Not sure what I will do with all the 82s I have when I finally get around to sorting them.
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Pillar of the Community
United States
613 Posts |
as mentioned, I think it's all about condition and how they were struck. save the best and toss the rest. Also, pull out coppers to go into a beer growler. What will I ever do it with it, though ;-)
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Pillar of the Community
United States
4085 Posts |
No matter what, if you put them in a beer growler, you can cash them in at face and fill that growler with beer.
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Valued Member
United States
103 Posts |
Like a lot of people I collect the Memorials for copper.
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Pillar of the Community
1325 Posts |
Quote:
beer growler This sounds like some sort of Pokemon the kids talk about these days. I am sure it isn't, but as a non-drinker; what is it? |
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Pillar of the Community
United States
4085 Posts |
Basically a large jug used to transport draft beer
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Valued Member
United States
449 Posts |
people always make such far fetched statements. Quote:
People have collapsed houses stuffing them full of one cent coins and the memorials will be common for at least a century if not much longer.
so you actually think in the year 2165 you will be seeing memorial cents from 1970s on a regular basis?  Quote:
Half the country already has a five gallon jug of mostly pennies and mostly memorial pennies so you could say they're already hoarding them. this isn't serious right? half of the country? 160 million people?  I know hundreds of people and I would be surprised if more than a few did this.. |
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Pillar of the Community
United States
4809 Posts |
Folks are just speaking in hyperbole...that's all.
Fact is that folks hoard on some scale: a small bowl here-an-there to catch coins and other objects from their pockets. Some consolidate and pitch coins into a bucket, water jug...Dinkel Acker mini-keg. What tends to happen is that on topics of sensitivity, the hyperbole tends to grow...maybe too much relative to the 'factually' driven folks. It can be any topic.
Back to the group...
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Pillar of the Community
United States
2271 Posts |
Quote:
people always make such far fetched statements.
Quote:
People have collapsed houses stuffing them full of one cent coins and the memorials will be common for at least a century if not much longer.
so you actually think in the year 2165 you will be seeing memorial cents from 1970s on a regular basis?
Quote:
Half the country already has a five gallon jug of mostly pennies and mostly memorial pennies so you could say they're already hoarding them.
this isn't serious right? half of the country? 160 million people? I know hundreds of people and I would be surprised if more than a few did this.. Perhaps there is a little hyperbole here. ;) But houses have been damaged (even collapsed) by hoarding and this includes coins. The mint has made an average of about 30 pennies for each man woman and child in the country for many decades. Of course many of these coins are gone since zinc virtually evaporates and the copper cent has no value except as metal. But there are billions of pennies sitting in change jars and elsewhere not circulating. While it's true everyone doesn't have a five gallon jug of pennies it is quite true that most people have pennies sitting around somewhere and most pennies are sitting in larger accumulations and hoards. The FED couldn't come close to approaching the number of pennies as the aggregate number sitting in large (>1000) accumulations and hoards. These coins will be around for a very long time nbecause their numbers are staggering. It would require tremendous effort to even try to dispose of all of them and billions would be overlooked and survive well into the next century. No matter how this plays out over the coming decades there will be large numbers of survivors. Ultimately the number of survivors will depend largely on how many are set aside by collectors but in the meantime you simply can't get rid of something so ubiquitous as the memorial cent that has been made in tremendous numbers for 57 years. When they shut Niagra Falls off for maintenance and cleaning years ago they recovered several truck loads of coins from the bottom. Of course it was mostly pennies. Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
2271 Posts |
OK, think of it this way; if the government recalled the penny for destruction today they'd only get back about 25% of all the surviving memorial cents because the things still aren't worth hauling to the bank for most people. Owners of larger hoards might turn in or separate out the zincs for redemption but the fact is it would be almost a non-event to recall the penny. Coins in the pipeline would flow back to the FED and a few coins would be returned to the banks for several months before they dried up.
But the inundation of memorial cents would hardly be affected. About 30% of mintage survives and about 25% would be redeemed but this still leaves countless billions of pennies. Many of these would be tossed in the trash in the years after they are no longer legal tender.
Pennies aren't going anywhere because they can't. There are simply too many and they have too little value to be affected by changes going forward.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
593 Posts |
I was over to the LCS and a LWC hoarder had brought in a 117 pounds of wheat cents in coffee cans all separated in 09-19, 20-29, 30-39 on to 58`s and all in between in multiples.. I really wanted to look them over for some good ones. but he was selling them by the pound on ebay. He sold most but hadn't shipped yet. I was to late. Some were corroded so they weren't stored well. I would have bought them all to check for myself. I still have 30-40 rolls for my grandson. |
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Valued Member
 United States
374 Posts |
Meh...stacking copper is a waste of money for me..I'd rather put that money into silver stacking! I would think that since 2006, the number of copper hoarders has begun to taper off, but I don't know if I'm right or not.
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Pillar of the Community
United States
2764 Posts |
Thank you everyone for contributing to this great thread, especially cladking and BadThad (you guys always have great insight). I am wondering if you guys will write a book about Modern Coins and what you guys have spoken so much about.
So I guess the moral of this is: Rather than just hoarding them in large quantities and store in buckets/water jug, we should:
1) Save high-end (GEM BU) cents
2) Look for Varieties
3) Look for "Conditional Rarity"
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Pillar of the Community
 United States
5828 Posts |
 WOW that was a good read! p.s. If anyone asks, I wasn't on my phone during school... Edited by ChildOfTheWheat
10/14/2015 3:44 pm
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Replies: 50 / Views: 7,275 |
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Posted 09/14/2015 09:33 am
