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 Replies: 9 / Views: 1,928 |
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New Member
United States
23 Posts |
Hello, I'm a new coin roll hunter. I love pennies and that is what I have been focusing on. I have been keeping all of the copper that I find, sorting them by date (while searching for errors), and then rolling them by mint and date.
The logic behind my madness is that one day most of the copper pennies will be melted and they will become as rare as quarters. Except for my kids, who will have a lot of penny rolls all organized by date and mint. Is this madness?
John
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Bedrock of the Community
United States
36746 Posts |
Some day they'll be traded like 90% silver coins, by the roll and bag. Seems like breaking them down into solid date rolls consumes a lot of time with very little reward. I save coppers too but just keep them in $50 face value canvas bags. When sold they'll be run through a coin counter and most likely resold in those same bags.
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Pillar of the Community
United States
802 Posts |
It will probably be 40 years before the copper is worth that though. Look at how much copper piping and all that goes into your house and other industrial uses. If that's true the prices of building will ROCKET... unless they have a substitute by then (which I doubt).
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Bedrock of the Community
United States
36746 Posts |
As the copper penny goes away and either gets replaced by steel or dropped totally, collector value will drive prices higher. These will sell and trade higher than their melt value.
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New Member
 United States
23 Posts |
It does take time sorting them, but I do most of that while looking for errors. I'm not counting on any profit in my lifetime. Maybe my kids would though, or even their kids. I didn't mention that I made an excell spreadsheet ( I love Excell) to help inventory my copper hoard. Than if one day if the 1966D becomes more valuable than others they would know how many there are. I'm the mad hoarder.
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Valued Member
United States
397 Posts |
I don't think it is madness. Eventually I will dig back through the water jug of pennies, and I've toyed with the idea of doing the same thing. As long as you don't mind the time, and you have the storage, what harm can it cause?
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New Member
United States
15 Posts |
I'm doing my copper the same way as FmlyGuy. I don't currently own a loupe to check for varieties so I'm separating it by year and mm to make my job easier when I do get one. I also use Excel to keep track of my coins. Now to find a place to store all these things.
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New Member
United States
23 Posts |
TexasCoinHunter, nice to know I'm not alone. Maybe I'm not so mad after all.
John
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Pillar of the Community
United States
593 Posts |
 It seems like a reasonable plan to me! |
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Pillar of the Community
United States
622 Posts |
Wrestling, Believe it or not, copper is being fazed out in a lot of applications. There is now a substitute for copper when plumbing your house. Matter of fact, I don't know if anyone uses copper piping any more on new houses. My home inspector was talking like its against Oklahoma building regs to use copper piping now because this new tubing product is so much safer. He said lightning travels through the copper piping and can actually start fires at various points in the house, where the lightning didn't even strike! He actually suggested that I get my piping changed, especially if I ever needed plumbing work done. I'm sure that would be a ridiculously expense renovation. Won't be happening.
OO
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Replies: 9 / Views: 1,928 |
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Posted 07/11/2012 7:58 pm
