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What Should I Do With All My 1 Coins Once I Finish My Set?

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Pillar of the Community
Canada
2059 Posts
 Posted 10/27/2021  2:56 pm  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
@stogie, as it is vary hard to come by cents now a days and banks won't give them out unless you have a connection I am completely against having then destroyed. As I said I will be putting together small sets and gifting or trading them. Many outside of Canada would have more trouble putting sets together and a beginner set is always great for kids. These are becoming more and more scarce. I think wanting what little cents are out there to be destroyed kind of goes against the hobby it self.

Seems like a much better to gift and trade some starter sets. I have one request for a set or two already that I'll put together. most of my George cents are between vg-vf I'd say and mayb a couple in slightly better condition. I could probably sell them for scrap locally and make a small profit but again they would be destroyed.

I have already decided at this point what I will be doing with my left over coins. Also I have many 1970-2012 that are in great shape, lots of luster or full luster and the more modern ones some in MS.

I would rather gift these at face value then let them be destroyed.
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Canada
4078 Posts
 Posted 10/28/2021  11:56 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
" What little Cents are out there "
There are millions of Cents still in the public's
hands . They are hardly scarce and aside from the
Keys and registry set Candidates no one is much
interested these days . One of each date , variety is plenty
to satisfy most collectors .
I can assure you that every coin dealer in the country
has used Whitman's , original rolls , loose George V and VI
not to mention EIIRs gathering dust .
We ( a small dealer ) have over 10k pieces of GV
and 15 to 20 K pieces of GVI , including a thousand
1937, 38 , 39 just laying around .
Pillar of the Community
Canada
2059 Posts
 Posted 10/28/2021  12:42 pm  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
I don't know the actual number of cents out there and no one but compared to American cents I'd say vary scarce, who knows how many have been melted down etc, and sure there are plenty in collector hands if you want to pay a premium, if I came to your store and wanted a cent coin I'm assuming no way they would be sold for 1 each. So offering free starter sets seem like a better idea to me then just sending them to be melted. I could sell them for a tiny premium but again not into that idea.

All the sets I put together will make some nice gifts and for anyone who does not have one and of specific years etc would be happier paying face value for them then a premium. Is this threatening to people making a profit off them? Either way it would make no difference to me.

Also by scarce I mean you can't just get cents for face value at the bank, any starting collector would be happy to pay 67 plus packaging cost then a premium. If I'm ever at a coin show I would happily be selling small sets for cost.

Maybe someone wants to put a starter set together for there kids or a friend, maybe a teenager just getting into collecting and does not have access to 1cent coins.

I feel like doing this is helpful to the hobby, having them just destroyed is only helpful to dealers.

Edit: also as stated I would be throwing in some of the spare variety coins I hav like a 49 A2D or 53SF which iv never seen sold for even close to face value even in rougher shape.
Edited by Wrekkdd
10/28/2021 12:46 pm
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4031 Posts
 Posted 10/28/2021  2:12 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
There are 100's and 100's of millions of small cents out there. It's all supply and demand, so there is nothing except for a few specific varieties, in the Canadian cents that can even be used with "scarce" in the same sentence. You can talk all you want about selling for "small premium" or anything of the sort, but that's mostly a pipe dream. I doubt if there is a single household in Canada that doesn't have at least 10-20 pennies sitting in drawers, piggybanks or forgotten pockets or furniture, let alone dealers an ex-collectors that have thousands. I'm sure that you have friends that would appreciate some partially filled holders or albums, but I wouldn't exert a lot of energy toward them.
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Canada
2059 Posts
 Posted 10/28/2021  3:03 pm  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
@okie, there is not really a time limit in it so as a hobby I enjoy these sorts of things. I can easily put together a few full sets from 1937-2012 and many partial sets. I also have plenty of BU+ coins from 1980-2012,as well as some from the 70s and some AU-MS in there as well. I have already had a CCF member reach about about a starter set or two for there kids. As I'm offering this for no extra cost I am putting in time to do this as a favor:) and am happy to do so. If you had to choose between going to a dealer or just getting cents for face value then I don't loose money It just takes me time(which I am not charging for) I'm trying to do something nice but it seems this thread has somehow turned against me... I was already offered a small premium from my LCS for the lot of copper cents so I'm aware I could make a small premium just by bringing them there.

I would much rather build some starter sets for kids and for young people who may just be getting into coins(as well as friends etc.) I can say for a fact as someone that is 30 most people I know my age or younger don't have any cents, mayb there parents have some randomly laying around but not in the apartments that most people I know live in.

As I am simply offering these for face cost to those who don't have access to them I think no other comments should be posted unless to thank me for putting my own time in to do this while making nothing out of it, other then if I do a trade in which case I would still not be profiting. I'm not in this hobby to make money unless I end up desperate for money which should not be a big issue in the future as it has been in the past.

I don't plan on buying albums etc to do this, simply putting a set of coins into a roll or two and that's the end of it. I have to sort through them all by date anyways still so it's not much more effort to take one of each year and add it together for a set.

As for scarce, 1 cents will only ever be more and more scarce this is facts. They don't make any anymore and the ones out there end up melted etc. I only need 2 sets for me and my son so I'd rather the rest go to help the hobby then be destroyed.
Edited by Wrekkdd
10/28/2021 3:07 pm
Valued Member
Canada
121 Posts
 Posted 10/28/2021  7:06 pm  Show Profile   Bookmark this reply Add redlee to your friends list Get a Link to this Reply
Ive seen glass jars half full of cents going for good prices at Auctions.
Pillar of the Community
Canada
2059 Posts
 Posted 10/28/2021  7:27 pm  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
@redlee, despite some comments here I'm aware I can easily get a premium for these 1 coins. Even if not through selling I live in Hamilton ont(otherwise known as steel city) there is MANY scrap places around. I'm not in the business of selling coins though, I simply want my collection to grow and help some others as well. I will hopefully get more in the near future but who knows. As I paid face for them I have no problem letting a chunk go for face value(or trade)

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Canada
4321 Posts
 Posted 10/28/2021  7:34 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
As far as I know, it is illegal for Canadian scrap dealers to scrap Canadian copper 1 cent coins.
Edited by oriole
10/28/2021 7:36 pm
Pillar of the Community
Canada
2059 Posts
 Posted 10/28/2021  8:10 pm  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
It is completely illegal, but once they are melted who knew. Or they could legally just keep them in a big bag/bags aside from the normal scrap and oops maybe a bag falls in. They are fairly sketchy here for the most part, these is a fair bit of crime in the past here of people just taking apart park fences over a night or two and they just cut them up and bring them in.

But as I am against that completely I would rather not bring them back to the bank when I'm done to share the same fate. The less off the coins out there the more scarce they will become which is good for a collector.

Demand and market and rarity will be the future of any coins worth. Maybe they become much more scarce, maybe some years more then others. They are all a piece of History and tell a story.

I have simply decided to give them to people who want them for there face value price that may need them or want them for whatever reason. This is nothing but being generous:) I'd rather not just have a horde of coins and am actual collection.

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