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Posted 03/02/2010 08:11 am
Jbuck, captain,
That's is exactly why I am putting them away. IMO there will be folks making an instant profit off the melting and then the numismatic value will go higher after a while. I figure in about 10 years a Pre 82 would go for around 10 to 20 cents or higher.
Anything before 70 may go even higher than 40 cents as it is almost 1/3 of the 70's I come across in the boxes I search (guesstimate) and wheat's MAY go for about a $1.
Silvermachine, I do agree that when it gets nearer to the melt they WILL limit the amount of pennies you can buy. Same can be said for the nickels. I had one teller ask me If I was melting them. My answer was - I wish someone would and told her to put away anything pre 82.
As far as melting goes - Cu prices will DROP when the melting begins and then once said supply is off the market will rebound. Longer term all natural resources WILL be higher than today's prices in 20 years. There are estimates for Au to be 2,500+, Pt 5,000 and Pd 2,500 per oz respectively. Pt and Pd have some serious supply constraints going forward due to the cost of extracting. It's worth doing some serious DD on Pt and Pd.
Time will tell.
Peace
That's is exactly why I am putting them away. IMO there will be folks making an instant profit off the melting and then the numismatic value will go higher after a while. I figure in about 10 years a Pre 82 would go for around 10 to 20 cents or higher.
Anything before 70 may go even higher than 40 cents as it is almost 1/3 of the 70's I come across in the boxes I search (guesstimate) and wheat's MAY go for about a $1.
Silvermachine, I do agree that when it gets nearer to the melt they WILL limit the amount of pennies you can buy. Same can be said for the nickels. I had one teller ask me If I was melting them. My answer was - I wish someone would and told her to put away anything pre 82.
As far as melting goes - Cu prices will DROP when the melting begins and then once said supply is off the market will rebound. Longer term all natural resources WILL be higher than today's prices in 20 years. There are estimates for Au to be 2,500+, Pt 5,000 and Pd 2,500 per oz respectively. Pt and Pd have some serious supply constraints going forward due to the cost of extracting. It's worth doing some serious DD on Pt and Pd.
Time will tell.
Peace
