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 Replies: 19 / Views: 1,933 |
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Bedrock of the Community
United States
19961 Posts |
Bravo! Excellent rationale!  |
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Valued Member
United States
462 Posts |
There are 146 Copper Cents in a pound. Friday, spot Copper closed at $1.5089 a pound. As a side note, there are 181 Zinc Cents in a pound. So just watch the spot price for copper. It needs to hit right at $3.00 a pound for a copper cent to be worth Two Cents in bullion value. |
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Pillar of the Community
United States
5616 Posts |
Last I knew it was not Legal to melt cents, did this change( no pun intended )...  |
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Valued Member
United States
227 Posts |
There was a bill to make it legal again but with all the crazy stuff that's been happening in the last year I don't think Congress got to it.
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Valued Member
United States
408 Posts |
I have thousands of copper cents. The problem with holding them for bullion value is that if you have $100.00 worth of and the price of copper doubles you have only made $100.00. Lots of work and storage space for a hundred bucks.....Hours and hours of fun though.
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Pillar of the Community
United States
2049 Posts |
Quote:
I have thousands of copper cents. The problem with holding them for bullion value is that if you have $100.00 worth of and the price of copper doubles you have only made $100.00. Lots of work and storage space for a hundred bucks.....Hours and hours of fun though. Very true. For me it's more the fun of looking for wheat cents and the occasional Indian Head. It definitely is quite bulky and heavy though. On another forum I frequent, there are guys there that literally have tons of copper cents. Some store them in 5000-count bank bags, while others store them in 55-gallon steel drums. I know there is one guy in Illinois that claims to have 3,000,000 ($30K face value) in copper cents stored in tubs! These guys use special machines to sort out the copper cents versus someone like me who handsorts maybe one or two boxes per week. |
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Rest in Peace
 United States
3039 Posts |
They are still fun to go through, hoping that next one is a good find. Little downside to store coppers I guess. You'll always have face value (less maybe Coin Star's or another % taker for redeeming. I did 2000 today at a Coin Star and the vig was 8 9/10 % (ouch) but it was the only way on Sunday. I don't mind a $100 profit for storing some in a corner for a few years either. Guess it all depends uipon how much you need a C note.
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Bedrock of the Community
United States
19961 Posts |
Quote:
Very true. For me it's more the fun of looking for wheat cents and the occasional Indian Head. It definitely is quite bulky and heavy though. On another forum I frequent, there are guys there that literally have tons of copper cents. Some store them in 5000-count bank bags, while others store them in 55-gallon steel drums. I know there is one guy in Illinois that claims to have 3,000,000 ($30K face value) in copper cents stored in tubs! These guys use special machines to sort out the copper cents versus someone like me who handsorts maybe one or two boxes per week.
OMG! Give us the link, I want to read that. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Valued Member
United States
168 Posts |
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Pillar of the Community
United States
2049 Posts |
Here is a link. It's to another forum so I hope this doesn't offend the mods here. I am simply responding to BadThad's request: http://realcent.forumco.com/topic~T..._ID~2746.aspThe guy with 3 million stores them in plastic tubs. There is another thread where the guy who stores them in 55-gallon drums talks: http://realcent.forumco.com/topic~T..._ID~1904.aspAlthough I dont think he makes specific mention of it in that thread. In fact I think he mentions storing them in plastic containers but seem to think he switched to 55-gallon drums later due to the size of his hoard. |
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Pillar of the Community
United States
1121 Posts |
CoinHunter53562..Well put on the original topic! And thanks for the links! I have been pondering buying a copper sorter, but I just can't see forking out $400-$900 for one..and my eyes haven't went crossed yet as my fiance swears.  |
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Valued Member
United States
168 Posts |
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Pillar of the Community
United States
2049 Posts |
Quote:
CoinHunter53562..Well put on the original topic! And thanks for the links! I have been pondering buying a copper sorter, but I just can't see forking out $400-$900 for one..and my eyes haven't went crossed yet as my fiance swears.
Yeah I hear ya. I have thought about buying one of those Ryedale machines, but then I think it will feel more like a job versus a hobby at that point. Plus it's already awkward dumping thousands of zinc cents at a time. To pay for the Ryedale, you would have sort and sell thousands upon thousands of copper and zinc cents. And of course the Ryedale will sort your wheats or other error varieties for you. Dont get me wrong, the Ryedale is an awesome sounding machine if your goal is to hoard as much copper as possible, or to resell it for a profit. I just dont have the space or time or desire though to go to that level. |
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Pillar of the Community
United States
2049 Posts |
Oh and when I found my first Indian Head cent in a box of pennies, it was surreal. At first I thought it was a foreign coin (it was face down) so I grabbed it and said to myself "hmm...what is this?". When I turned it over and realized it was an IHC, it was quite the rush. I still get excited each time I find a Wheat cent or the occasional foreign coin, so I think I would miss that by doing machine sorting. |
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Pillar of the Community
United States
3077 Posts |
no machine would spot a 69S in AU
glad I did
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Replies: 19 / Views: 1,933 |
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First Page
Posted 01/18/2009 01:05 am
