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 Replies: 33 / Views: 5,113 |
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Pillar of the Community
United States
1450 Posts |
Just a few comments from my perspective. I am a hoarder because I think there will be a black market for copper if the price goes to $6 per pound. You will not need to melt them,just trade them as bullion. We can argue till we're blue in the face about what will happen down the road and chances are we will all be part right and part wrong but if holding onto 2000 rolls of pennies can help preserve my wealth in this chaotic economic environment,I,for one, will take the risk. If I am wrong, I have $1000 to spend down the road. It is all good my friends,be happy,enjoy!
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Pillar of the Community
United States
613 Posts |
People have been hoarding things for hundreds of years just hoping one day it'll be worth more than it is now. Millionaires hoard money all the time, they invest in this they invest in that. I think its a good thing that people are hoarding copper cents, I just hope their not hoarding for the melt value.
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Bedrock of the Community
United States
19930 Posts |
Quote:
Just a few comments from my perspective. I am a hoarder because I think there will be a black market for copper if the price goes to $6 per pound. You will not need to melt them,just trade them as bullion. We can argue till we're blue in the face about what will happen down the road and chances are we will all be part right and part wrong but if holding onto 2000 rolls of pennies can help preserve my wealth in this chaotic economic environment,I,for one, will take the risk. If I am wrong, I have $1000 to spend down the road. It is all good my friends,be happy,enjoy!
BINGO!  |
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Pillar of the Community
Canada
3692 Posts |
Just as silver was the money of the common people, copper, too, is easily accessible to the lower-income bracket. It just depends on how you value it. A wealtheir person might have a distaste for handling pennies and, therefore, not value them as much as someone else. Copper is the money of common folk today. Silver is pure myth at this point.
Edited by Libertad
05/12/2010 5:29 pm
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Pillar of the Community
United States
2661 Posts |
Quote:
call my phone number at (012)-345-6789, and ill give you a free 1909-S VBD HEY! I called you to get my penny and some girl answered and wanted $9.95 a minute to talk to me. What gives? |
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Valued Member
United States
487 Posts |
Lots of good reasons to hoard copper cents. 1. Safe from theft. $10,000 worth of cents weighs over 3 ton, silver 30 pounds, gold 8 oz. What thief is going to rent a moving truck come to my house and haul 100 70 pound boxes up the steps from my basement put them in truck and spend the next 3 months going from bank to bank cashing them in $20 at a time. 2. I always find keepers when going through cents, not so with quarter and halves. In the past year I've pulled over 2000 wheats, 6 IHC and lots of dimes out of rolls from the bank. Best finds to date worn out 14D, 4 70S small dates, giant Cud, several 1909's. 3. great for keeping your weight down. You can't eat while sorting and its good exersise carrying all those heavy boxes around. 4, Great pieces of history, this was the last real money in the USA. 5. Future collectibles, I believe the cent will stop being produced in the next 10 years and melt band lifted. Millions of tons will be melted and those nice red ones I kept will be worth something to collectors. 6. You can always sell them on ebay, they seem to average about 1.5 cents a piece. With all that being said if you are sorting cents it had better be because you enjoy it and not for profit. Kind of like fishing. |
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Pillar of the Community
United States
869 Posts |
I agree why even say that nasty word "melt" say "trade-able commodities" (5lb bag,10lb,20lb,ect.) It's no different than silver scrap.It's just easier to start getting your hands on some because is still in our change and the bank rolls right now for only a cent. This is why we have half dollar roll searchers. Folks ya know they did quit making them copper 1 cent coins in 82. That means what's out there in circulation is it.  As it was with silver. when it's gone it's gone. You will pay more to get it latter if ya don't grab it now. Can ya buy a silver roosevelt for a dime? A silver half for 50 cents? only if ya roll search for one.  OH ya also. Yes I will still sell ya my junk zincs for a cent but not the BU ones I have rolled up.check some of them prices out. Bad thad knows. He he.....back to the bank I go  Edited by coindexter
05/12/2010 7:21 pm
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Pillar of the Community
Philippines
1156 Posts |
isn't it illegal to melt down coins? that's two counts, hoarding and melting..then after melting, copper is converted into something else..that's money laundering!  |
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Valued Member
Canada
78 Posts |
How bout all those great pre 1981 Canadian nickels? .999 pure!  |
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Valued Member
Canada
223 Posts |
I keep all my copper for now, if I can get a bit over face for it great if not i'll save it for a bit, cash it and purchase a nice coin or coins I really want!
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Pillar of the Community
Canada
3692 Posts |
Canadian cents are .98 not .999 pure. You're thinking of our bullion.
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Valued Member
Canada
223 Posts |
The Canadian Nickel is 99.9 pure nickel though is it not? Most pre 1981 that is
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Valued Member
Canada
78 Posts |
Charlton Standard Catalogue has it at 1.0. I'm guessing that's 100%.
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Valued Member
United States
323 Posts |
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Pillar of the Community
Canada
1733 Posts |
@ Libertad... the Canadian five cent piece is minimum .99 pure 1922-1942, 1946-1951 and 1955-1981 . In other words, it was refined to be as pure as nickel shipped for making alloys.
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Replies: 33 / Views: 5,113 |
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Posted 05/12/2010 09:33 am
