| Author |
Replies: 17 / Views: 6,537 |
Page 2 of 2
|
|
|
|
Valued Member
United States
212 Posts |
I'm hearing more and more about this pre 1982 cent hoarding all the time. Seems to be getting quite popular with alot of folks.
|
|
Pillar of the Community
United States
3592 Posts |
Looks like something I'd try....good way to get pennies to search and could always dump them on ebay when he's done. My average sale price is 1.8 cents per coin so there would be a little profit left after I pulled the good ones.
|
|
Moderator
 United States
189053 Posts |
I am definitely keeping all of my copper cents, but I am not going out of my way to accumulate them. My reason is to save them, not melt them. I believe that copper cents will eventually have a premium value from attrition and not because of their metal content.
|
|
Pillar of the Community
United States
3592 Posts |
jbuck, I'm with you on that but I go through so many,I decided keeping the reds would suffice for now..that and the fact that my daughter and her boyfriend took over my basement until she finishes college...then I can really pile up stuff 
|
|
Valued Member
United States
439 Posts |
You could have her boyfriend pay you some rent in pennies. Is it 1981 and earlier? Or are some 1982 all copper?
|
|
Pillar of the Community
United States
1256 Posts |
1/2'ish of the 82's are copper but it's a bit of a bother to sort them out. I just throw all the 82's in a bucket for now. Figure them out later when I have enough to fool with.
|
|
Pillar of the Community
United States
3592 Posts |
monkeyman67...yes he pays rent..and he did get me $50 in pennies for Christmas...so did she. I save the copper 82's also..I keep a popsicle stick balance beam right on the table while I'm searching ...adds another second or two and I'm checking them for double dies anyway.
|
|
Valued Member
United States
497 Posts |
I wish I had this near me!
|
|
New Member
United States
17 Posts |
Some people believe that copper will increase in value someday
|
|
Pillar of the Community
United States
3592 Posts |
yes presto1210....the copper bullion value of a 95% copper penny is 2.85 cents right now..there is some debate on whether it will will be worth melting or not.
|
|
Bedrock of the Community
United States
11951 Posts |
The craigslist guy .. looks like he is in Kalamazoo Michigan .. not far from Canada
If I got the information right .. Canada can melt our cents.
I have been thinking the border states people may be taking coppers over the border.
|
|
Pillar of the Community
United States
952 Posts |
Man, for a guaranteed 30% profit i'd be going through boxes like crazy and pulling all the copper I could find. I still get almost half of my change in copper cents.
|
|
Pillar of the Community
United States
3592 Posts |
mdh157...it takes a lot of time to gather $100 in copper pennies. I only do it because I roll search and I'm retired...and I'm making about 70% profit after ebay fees. It's easy money so I do it, but I wouldn't do it as a side job. I'd rather cut/split firewood if it was strictly a money thing...honestly.
|
|
Valued Member
United States
183 Posts |
sounds like a nice idea for a % return on investment of 1 cent, but the time to sort and manage all those coins...and the space to store them...and the dirty glares from bank tellers to return the zinc ones...may take the fun and profit/hour-investment too low to be worth it.
|
|
Pillar of the Community
United States
2757 Posts |
i just finished rolling my 120th roll of copper cents. I have two empty egg cartons, and have each space labeled. The first space is 'Wheat', then it's 1959 through 1981. It happens when one 'egg space' comfortably holds around 60 cents. Then I put them in a roll and label the date. When I have a few rolls of a given date, I go through looking for DD's, RPM's, errors, the whole nine yards. Then I put the rejects back in their rolls and put them in a box that I will eventually sell for melt. Not that they will be melted, I bet they are just hanging around in people's garages/attics waiting for the economy and society to collapse. I'd rather get my 60% profit now and invest it. I do believe that more and more people will be hoarding these copper coins, but there is no way that the supply of people who hoard will be greater than the people willing to spend the time to sort coins from the bank, at least in the next 10 years, or until the melting ban is lifted (I'm not holding my breath on that one either). And besides, Canadian pennies basically have as much copper as ours had until 1982 until 1998 or something like that. Billions out there.
Edited by robbudo 01/15/2011 1:18 pm
|
|
Page 2 of 2
|
Replies: 17 / Views: 6,537 |
Page 2 of 2
|