One Powerful Incentive To Hoard Copper Cents - Page 2

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Author	Replies: 23 / Views: 3,373	Page: of 2

Tunnioc Pillar of the Community United States 3179 Posts	Posted 07/23/2011 5:42 pm If you don't hoard them, someone else will! Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 07/23/2011 7:14 pm 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. Report this Post to the Staff
Fugio New Member United States 13 Posts	Posted 07/23/2011 10:03 pm 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'! Report this Post to the Staff
Bowfin Valued Member United States 296 Posts	Posted 07/23/2011 11:10 pm 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. Report this Post to the Staff
seal006 Pillar of the Community United States 1915 Posts	Posted 07/24/2011 12:03 am 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. Report this Post to the Staff
Hambone Pillar of the Community United States 609 Posts	Posted 07/24/2011 12:38 am 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. Report this Post to the Staff
merclover Bedrock of the Community United States 10635 Posts	Posted 07/24/2011 6:02 pm 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 Report this Post to the Staff
yankee1227 Pillar of the Community United States 1151 Posts	Posted 07/24/2011 6:34 pm Now I know to saw my pre 1996 Canadian cents Report this Post to the Staff
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