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 Replies: 33 / Views: 3,013 |
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Pillar of the Community
United States
1121 Posts |
Anybody think it's worth hoarding pre 82 Lincolns for copper?
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Pillar of the Community
United States
2373 Posts |
It is certainly worth culling your change on a one to one basis with the metal value at .025. I hoard all mine. nlp
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Valued Member
United States
67 Posts |
Considering the melt value is 2.5X, sure. If your into that kinda thing. :)
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Pillar of the Community
United States
1450 Posts |
I just reached the milestone of 300 rolls of 95% copper pennies today. I have found so much good stuff in the process that it has become an addiction. Worth it? who knows, but I am having a blast and the worst case scenario is I will have $150 to spend sometime in the future!
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Pillar of the Community
United Kingdom
2217 Posts |
Sounds crazy hoarding them just to make 1.5 cents for each one you keep, might as well own an arcade then you can sort through thousands of them and get really rich! ;)
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Pillar of the Community
United States
1450 Posts |
Those of us that are hoarding are hoping the price of copper keeps rising and we get to about 4x in a few years. For me, just seeing so many old coins in good condition is a thrill. This is my HOBBY,value is secondary to the fun it provides me. I can store 400 rolls beside my bed in a couple of ammo boxes so there is hardly any space taken up. I can sort through 50 rolls in about 3 hours a day then go back and really evaluate the better stuff later. In addition to the 300 rolls I have accumulated so far I have managed to find 8 rolls worth of wheaties including 6 steels and several foreign coins I have yet to identify plus 4 rolls of Canadian pennies. I even found 4 dimes in one roll and commonly find dimes mixed in rolls. I found a 1982 s proof penny in one roll, and the list goes on and on. If you are looking to hoard simply to turn a huge profit don't waste your time but if like the adventure of finding good stuff where you least expect it, start sorting penny rolls, you will be pleasantly surprised with what you find.
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Pillar of the Community
United States
3499 Posts |
It really is fun to hoard stuff from circulation that actually has bullion value. I think that the value will just keep going up for copper, so it is a safe bet.
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Pillar of the Community
 United States
1121 Posts |
Thank you all for your comments. I have searched hundreds of rolls of Lincoln's along with every other available rolls. I searched 1st for key dates, wheaties, and errors. I do consider myself a collector, understanding that a coin is worth what someone is willing to pay for it and what the coin means to me. But if I can supplement my buying budget with potential value of an increasing demand of a metal, it makes sense to me. I just wondered what other members thought. So thank you again.
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New Member
United States
8 Posts |
Just my Two Cents worth (get it?). To search pennies just to retain the copper hoping to make a profit is just not worth the time & effort. If you enjoy roll searching & finding the occasional wheat or even the once in a blue moon Indian head or other rare finds and you just happen to toss the copper aside to save that's a different story. I roll searched for over a year. I did it because I enjoyed the thrill of the hunt & it was cheap. I managed to hoard 250 rolls of copper. Let's say 5 years from now I get 4x face value (unlikely). My profit would be $375.00. That would easily come out to less than a buck an hour for my work. |
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Pillar of the Community
United States
1121 Posts |
Thank you Dennis.  |
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Pillar of the Community
United States
1450 Posts |
I have read the comment several places(on other forums) that some folks think if copper stays high and the melt ban is lifted, so many copper pennies will be gone forever so the price of ALL pennies still around will go up significantly. This being especially true for the better quality examples coming out of circulation because of hoarding. I can't see that happening since nobody knows now how many of any coin exist so how would you know after melting? Any thoughts on this theory?
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Pillar of the Community
United States
1121 Posts |
hockingzig, good point. I personally was looking at hoarding from a collectors point of view. I don't think I could bring myself to melt down cents, I just like them too much. Like most collectors, Lincolns were the first series I started. They have become one of, if not, my favorite coins.
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Pillar of the Community
United States
869 Posts |
Who says they ain't melting already? If recycling companies are taking striped wire from someone who has a bad drug habit. I bet with copper at $4 a pound they are doing it somewhere. And here is a good way to count your copper penny weight. (3 rolls of pennies(pre-82)= about a lb of copper. Yes keep all your copper. It will always go up. Thank about it this way. Mining(equipment,labor$$,insurance,fuel,permits,ect)costs will just increase with most metals.(except some recycled stuff like aluminum,tin, and iron)Even aluminum has went up because the costs to run the plant(Power bill,permits,labor and of course fines from EPA) That's why everything is made out of plastic.(cheaper)
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Pillar of the Community
United States
1840 Posts |
Spend 'em! The weak dollar is currently making the copper price higher. Eventually things will turn around and copper prices will fall.
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Pillar of the Community
United States
869 Posts |
Copper prices got higher years ago. I used to sell it in large 00,0,2,4 gauge at a stereo store. The big companies that made the wire had to switch to copper plated aluminum wire because of the cost. Sacrificing the quality of our connections to amplifiers. Witch isn't a smart thing to do when your pulling a 300 amp draw. So Will gas prices fall? I'm paying $4.50 a gallon. With that said how much copper do you thank they will use on the newer electric cars that everyone will need? Those cars will be stolen for there copper value not there other parts. Check out mineweb.com
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Moderator
 United States
56855 Posts |
I have $175.00 worth of pre 1982's so far,i figure since I am searching for errors and varieties anyway I might as well keep the coppers.
I have found alot of good stuff,no major finds yet but still hoping to find anything worth over $20.00.
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Replies: 33 / Views: 3,013 |
Posted 07/05/2008 7:14 pm
