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 Replies: 31 / Views: 5,543 |
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Valued Member
United States
107 Posts |
Hey All,
I would like to invite any people who sort copper/wheats to embark on a challenge with me. My goal is to sort $500 in pennies, and I want to track a few things. First and foremost where you are from, and what that area is yielding in returns. I personally am looking at Copper %, Wheat %. Once done with the $500, curious also to see a break down of the Wheats and rare finds. Please feel free to join along, and post any great finds along the way.
I can do $500 relatively quick as I use a Ryedale, but figure for some of the people who hand sort and check for varieties in newer stuff, that $500 is still feasible. Edited by Kritler
07/01/2013 4:38 pm
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Valued Member
United States
75 Posts |
If people do this, any area that is "good" will quickly be swamped with competition. Not a great idea...
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Valued Member
 United States
107 Posts |
I think if you take a look at the amount of people that CRH, and the amount of pennies the US mint has produced, it would be very hard to "swam" an area. Worst case scenario is the banks start busting out the new stuff from the mint, and the premium on that is far over what you can cull in copper.
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Valued Member
United States
75 Posts |
how exactly do you sell new rolls of cents for a premium?
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Valued Member
United States
107 Posts |
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Valued Member
United States
75 Posts |
Interesting, but that's a lot of coin to haul around for a twenty dollar profit. If you could sell them locally (CL?) you could make a bit more since the buyer wouldn't need to pay for shipping.
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Valued Member
United States
107 Posts |
I agree, it may not be feasible for all, but if you have very close proximity to a bank and USPS office it is worthwhile. The return on those is higher then most boxes would yield in copper, you just don't get the enjoyment of hunting. I doubt you would find to many local buyers, any market where you can get boxes readily, they would have no need to buy from you. I imagine the buyers of these boxes are numismatist in small areas, with limited banking options who rarely see new stuff.
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New Member
United States
9 Posts |
how much did I cost to ship that though?... I imagine it was heavy as all get out!
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Valued Member
United States
107 Posts |
25 in pennies weighs roughly 13lbs. Flat Rat box can ship up to 70lbs, whatever you can fit in the box. I used a medium flat rate box for a total shipping cost $12.95.
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Valued Member
United States
107 Posts |
First 50$ was 25.6% copper, which is amazing.
Also had:
7 Canadians
1 1941
1 1944
1 1944 S
2 1945 D
1 1946
1 1946 D
1 1949
1 1952
1 1952 D
1 1954 D
2 1956 D
1 1956
2 1957 D
2 1958 D
1 1959 in great shape
2 1967 in great shape
1 1972 S in great shape
1 1982 D in great shape
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Pillar of the Community
United States
950 Posts |
im in minnesota and I went through a box today that gave me $7.27 in copper and that works out to be 29.08% if I did my maths right. There were also 10 canadians, and 9 wheats with the oldest being 1944.
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Pillar of the Community
United States
950 Posts |
I have shipped $100 in copper pennies in a medium flat rate box with insurance for about $15. works swell actually.
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Valued Member
United States
107 Posts |
Normally in AZ we average around 14%, and this excludes boxes that are solid new rolls. If you can average 30% you should open your own Portland Mint!
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Valued Member
United States
75 Posts |
Seriously? I am well over 50% copper. I frequently get whole rolls that are all pre-1982. I just haven't figured out how to monetize the 95% copper cents yet... I have buckets of them filling up, and that's even after I pull out any that are in what I perceive to be great condition. I have been separating them into categories: wheat pennies, crappy-to-average looking pre-1982 pennies, 1982 pennies, and then old pennies in exceptionally good condition (but not brilliant uncirculated - honestly I have never come across a penny in a roll that I think could really be called BU.) I have considered trying to sell the good condition oldish ones as a lot but I don't know if that will work. They range from some level of Fine to a few that are in the AU range I think. I know the wheats have some value but again, not sure what the best way to sell them is to get the best return. As for the crappy looking 95% copper ones, I guess I could try listing them on craigslist or ebay but I don't know how much quantity to sell or how much markup the market will accept. Then the 1982 ones, I need to decide whether it's worth it to buy a scale and separate the 95% copper ones from the zincolns. The thing is even if it's theoretically worth the investment and trouble, I wonder if it will be hard to convince people to buy them since they will doubt that they are 95% copper. |
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Valued Member
United States
107 Posts |
Wow, you are in a good situation. Get creative, you have a printing press for money. I would encourage you to use mint bags instead of buckets, I feel like buckets are less reliable.
Edited by Kritler
07/11/2013 2:42 pm
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Valued Member
United States
75 Posts |
Well I don't move them around lol. My main concern now is like I said, how do I monetize this so I can grow my investment? If I can't figure a way to sell them there is no sense in continuing to search pennies.
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Replies: 31 / Views: 5,543 |
Posted 07/01/2013 4:26 pm
