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Question For Coin Hoarders

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Valued Member
Canada
187 Posts
 Posted 09/08/2022  09:56 am Show Profile   Bookmark this topic Add skelly423 to your friends list Get a Link to this Message
I'm sure I'm not alone in this, but I have tens of thousands of pennies (all pre 1967) and thousands more pre-1981 nickels in jars scattered through my house. I'm looking to declutter my house, but have a dilemma when it comes to these coins.

The coins I have are worth approximately 2-3x face value, but I can't find a good way to get rid of them. I don't want to take them to the bank at face value and lose ~$500. If I sell them, the price of shipping will destroy any return (not to mention eBay's substantial bit out of the bottom line). I live in a small town, so there aren't a lot of dealers around to buy them. I suspect most dealers wouldn't be willing to pay any more than the bank anyway.

Has anyone else here successfully navigated this problem? How do I get rid of these coins and maximize my value in the process?
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Canada
4561 Posts
 Posted 09/08/2022  09:58 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Try kijiji or facebook buy and sell.

As an addendum, the pennies can go to the scrap yard for raw copper prices, much more than face value.
Edited by okiecoiner
09/08/2022 2:54 pm
Pillar of the Community
Canada
699 Posts
 Posted 09/08/2022  10:17 am  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply
Maybe you can find some inexpensive folders and put together some date sets. Then try selling them on eBay for a premium.

You're right, it's doubtful a dealer will pay more than face value for them. They may not even want them at all. Don't take them to the bank. Even if you sell them to someone else for face value, at least someone else gets to enjoy them.
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Canada
4430 Posts
 Posted 09/08/2022  11:10 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Take them to the bank , get your money for them .
Invest the money in a dividend paying stock .
Never look back .
Valued Member
Canada
86 Posts
 Posted 09/08/2022  12:01 pm  Show Profile   Bookmark this reply Add Stogie to your friends list Get a Link to this Reply
Yes, definitely take them to the bank, you will be doing the hobby a favor by culling part of the heard. I hate to say it, yet no dealer will ever want these coins, even for face value. They are extremely common base metal coins that I'm presuming are in very well circulated condition. I'm also thinking it's doubtful that very many (if any) collectors will want them for this reason as well.

I don't think making date sets to sell on Ebay for a premium is a good idea either. I'm one of those collectors (who reasonably thinks I'm in the majority on this one) who sees these date sets for sale for any sort of premium and think "not going to happen", as they are only worth face and have no collector demand.
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Canada
768 Posts
 Posted 09/08/2022  1:10 pm  Show Profile   Check TheDeductible's eBay Listings Bookmark this reply Add TheDeductible to your friends list Get a Link to this Reply
Aren't large quantities of coins just kept to eventually sort through for varieties? Coin roll hunting. I can't imagine you acquired these with the thought that they would appreciate enough to sell them.

Why don't you just have fun spending them or hand them down to a young relative who might be interested? Or bring the pennies across the border and put them in a coin counting machine at a grocery store to get your money.
Bedrock of the Community
United Kingdom
11332 Posts
 Posted 09/08/2022  2:06 pm  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply
Pre-1982 cents are sought-after by people who collect elongated coins, as they give much better results than zinc cents when squashed. You could contact one of the elongated coin forums online and see if anyone would like to buy some.
Valued Member
United States
96 Posts
 Posted 09/08/2022  4:41 pm  Show Profile   Bookmark this reply Add Bill Kerr to your friends list Get a Link to this Reply
I wasn't aware that you could sell them to scrap yards?
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Canada
619 Posts
 Posted 09/08/2022  4:47 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply

Quote:
Take them to the bank , get your money for them .
Invest the money in a dividend paying stock .
Never look back .


Regardless of what you ultimately do... the best advice is the last line from @pacificoin... Never look back... that way lies the madness of second guessing, what ifs, could'a, should'a.

Never Look Back

That advice is good for all transactions, significant or otherwise... Keep rolling forward.
Valued Member
Canada
56 Posts
 Posted 09/08/2022  5:23 pm  Show Profile   Bookmark this reply Add mgalb to your friends list Get a Link to this Reply
I have seen jars of them at auctions and people pay ridiculous prices for them hoping to find treasures. I would try that.
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United States
73521 Posts
 Posted 09/08/2022  6:13 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
You'll be lucky to find a bank that would accept these in bulk form, which presents big counting and wrapping challenges to them. All this after you've spent much time finding a way to bag up and transport them, with gas costs added on.

Playing the "intrinsic value" factor for copper coins has always been a losing proposition and always will be.

Add up every cost associated with saving and harvesting small copper cents and you'll find you've actually lost a lot of money if time has any value at all.
Edited by Coinfrog
09/08/2022 6:25 pm
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Canada
2306 Posts
 Posted 09/08/2022  6:28 pm  Show Profile   Bookmark this reply Add darryldarryl to your friends list Get a Link to this Reply
If you are handy you could try some home build project like placing the penny's on a table and covering them with clear glass or Varnish.
Valued Member
United States
470 Posts
 Posted 09/08/2022  7:53 pm  Show Profile   Check 1960NYGiants's eBay Listings Bookmark this reply Add 1960NYGiants to your friends list Get a Link to this Reply
I've had good luck selling them on eBay. List them by monarch type: George V, George VI, Elizabeth II young head, Elizabeth II 1965 to 1996. Anything from 1997 to date goes to bank.
LM of RCNA
Member of CATC
Pillar of the Community
United States
535 Posts
 Posted 09/08/2022  8:48 pm  Show Profile   Bookmark this reply Add karrlot to your friends list Get a Link to this Reply
Why do you think that they are worth 2 - 3 times face?
Pillar of the Community
United States
684 Posts
 Posted 09/08/2022  9:31 pm  Show Profile   Bookmark this reply Add PlumCrazy814 to your friends list Get a Link to this Reply
If a dealer is willing to pay you anything over face, you should go that route and be done with them. I have done that more than once. Fastest way to de-clutter and you don't have to deal with the time needed to try to sell them in bit lots for small marginal gain. Then you could take the cash and buy a few keepers.
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Australia
1375 Posts
 Posted 09/08/2022  10:28 pm  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply
I was going to ask about shipping to some to AUS but then remembered Canadian Royal mail postage costs are a deal killer.
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