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 Replies: 23 / Views: 3,121 |
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Pillar of the Community
United States
1450 Posts |
Went through 10 rolls of Brinks rolled cents and not a single copper. This is the third time in 6 weeks!I am not searching a lot of coin these days(about 20 rolls of nickels and 20 rolls of cents a week)but the trend is disturbing. My CWR's are still running around 20% copper but wheats have diminished to almost nothing.
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Bedrock of the Community
United States
19961 Posts |
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Valued Member
United States
379 Posts |
Wow, I just got an entire box of Brinks rolls (unless some banks are wrapping the same way now?) and there was hardly a post 82 in the entire thing! Every roll was solid brown. Strangely not many wheats though.
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Bedrock of the Community
United States
36782 Posts |
I am finding far fewer in change also. Too many people on the search for these now.
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Valued Member
United States
125 Posts |
I recall reading something about brinks pulling copper cents for a client.
Whether it's true or not, on other forums people have been complaining about getting all zinc boxes this year.
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Pillar of the Community
United States
3345 Posts |
I havent had any problems or noticed anything lately, my wheats are still flowing good, even though I dont search pennies very much anymore. Last time I went through 20 CWR and found 16 wheats, thats average for me, plus a good amount of copper
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Valued Member
United States
125 Posts |
Sounds like it's just a fluke. The reports my friends have made are more like ordering 20 boxes and yielding no more than 3-4%. Or getting multiple boxes of all circulated zincolns, and not just newly minted coin.
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Pillar of the Community
United States
8517 Posts |
The Ryedale copper miners are changing things and quickly, I might add.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Valued Member
United States
125 Posts |
Agreed, but it's private investors that work with brinks etc. who will completely kill the copper in circulation.
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Pillar of the Community
United States
2224 Posts |
I'm trying the best I can to avoid machine rolled coin from banks. For the most part, CWR's are still well stocked with copper, at least that is what I am finding.
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New Member
United States
7 Posts |
My average is around 23-24% from brinks boxes I've never got less than 18% and never over 32% I havent been doing cents long and I only do about a box a week.
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Pillar of the Community
 United States
1450 Posts |
I guess the upside is,when copper in circulation is minimal,then the melt ban will be lifted. I figure there will be an announcement that the cent will no longer be minted at the same time the melt ban is lifted. It may happen yet this year. When it does,you better melt them quickly because there will be a flood of copper into the market and the price will drop like a rock.
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Pillar of the Community
Australia
4411 Posts |
I would question whether or not the amount of copper hoarded in copper cents is enough to lower the price of copper significantly if all melted and sold at the market at the same time. My guess would be no.
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Pillar of the Community
Mexico
1304 Posts |
Agreed...I really don't think there are that many horders out there.
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Valued Member
United States
161 Posts |
You have to wonder if you got someones dump. I'm just a rookie with only a couple hundred dollars searched but I've yet to see even a roll with not a single copper.
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Pillar of the Community
Australia
4411 Posts |
I have done some very rough calculations:
Assuming the composition of US pennies didnt change in 1982 and they were still copper.
Roughly 3 Billion have been made weighing 3.11grams each.
3,000,000,000 x 3.11 = 933,000,000,000
Total mass of all pennies ever made in grams / 1000 to get KG = 933,000,000
Total mass of all pennies ever made in KG / 1000 to get Tonnes = 933,000
This would be much less as the composition has been changed for three decades now and the mint are pumping out pennies as fast as ever.
The expected production of Olympic Dam the Worlds largest mineral deposit once upgraded is 750,000 tonnes per year.
In one year one mine comes close to producing the total amunt of copper contained in US cents.
I doubt every US copper cent ever produced could enter the market at once but even if it did I doubt it would change the price much.
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Replies: 23 / Views: 3,121 |
Posted 06/28/2012 07:21 am
