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 Replies: 29 / Views: 4,905 |
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Pillar of the Community
United States
807 Posts |
The seigniorage calculation I was referring to was based on coins struck for circulation.
Obviously, if they're struck only for collectors, they can be sold for a price with no relation to the face value, so the relationship between cost of manufacture & face value is much less important. (Many NCLT pieces have an intrinsic value far greater than their face value.)
But my point is actually that that profit from collector coins, like that from bullion coins, medals, or foreign coinage contracts, is accounted separately from profit or loss on the production of circulation coins.
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Pillar of the Community
United States
927 Posts |
When I empty my pockets at the end of the day, I put 1981 and older pennies in one jar and 1983 and newer in another jar. The 1982 pennies go in a seperate box. Every now and then I pull out the scale to weigh them. I can't tell the difference by the ring test.
The 1982 pennies also have large and small dates, which I separate first. I find about 10 large dates for every 1 small date. Is this what others are finding?
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Valued Member
United States
84 Posts |
The question I have is 'how many pennies do you need to make a pound?
Think copper is something like $3 =/- per pound.
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Pillar of the Community
United States
1704 Posts |
Quote:
You could always swap weight-for-weight with someone on the other side of the border. Don't try this as the Border Patrol is well aware of this and if you are caught trying to cross the border with any significant quantity of cents they will be confiscated and you will be cited. I suspect in time the 95% copper cents will be traded by the bag at melt value much like the 90% silver coins are now. Possibly at two levels, level one the 1959-82 cents and level two at a slight premium the pre 1959 cents. Ed ANA LM-3175 Edited by Gyrene7483
07/14/2013 11:41 pm
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Pillar of the Community
United States
959 Posts |
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The question I have is 'how many pennies do you need to make a pound? If I remember right..........147. |
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Valued Member
United States
84 Posts |
$1.47 to get $3.15 (current one pound Cu).
I think if you're going to hoard copper, then it will pay off once there is a good economy. Copper is a very good indicator of construction which is still tied up with banks across the globe reluctant to give out loans. And now interest rates are rising and they still won't lend, but that can't go on forever. At least I pray it doesn't.
Like I said, copper is a good measure of the economy, and if you want to know how copper goes independant of the economy, keep an eye on new building permits (monthly).
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Pillar of the Community
United States
2651 Posts |
I flip them in the air like you are playing "Heads and Tails"....Copper has a nice ring....zinc kinda has a thump sound with no ring.
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Moderator
 United States
189462 Posts |
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...about 1 cent of the cost is the workmanship, machinery depreciation, & related costs. Even if metal costs were zero, that would still remain.  |
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Valued Member
United States
84 Posts |
I wonder if the mint has to pay taxes on their inventory like all other businesses.
Heard it mentioned about melting, I knew silver was illegal, I didn't know copper (all coins?) are too.
Now if they wanted to track where the melted goods came from, I suppose they can add a trace element, like say Molydbenum and does a spectral anaylis.
Thats what I would do anyway.
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Valued Member
United States
317 Posts |
Ehh, I'm not a big fan of hoarding anything. I think there is a show for that. lol
What sorta irritates me with some of these hoarders is that, I've seen people take the coins and put them in huge containers or drums, then they place them next to the dryer or expose them to the elements in the garage, while not taking care of the coins.
With coins supplies so cheap, I mean a Cowens 2x2 costs 2-3 cents each, just really surprised people aren't taking better care of their coins. Yeah I understand these people are just collecting for melt value but it's a shame that some really nice coins are more than likely sitting in those piles being neglected.
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Bedrock of the Community
13014 Posts |
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I mean a Cowens 2x2 costs 2-3 cents each,just really surprised people aren't taking better care of their coins Theres two huge problems with doing that for a copper hoarder. The biggest is that that 2-3 cents is their entire profit margin. Then the 2nd is the amount of time that would take to do that to thousands of them. Remember these are people hoping to be able to melt them one day so they really dont care. Like bullion coins this is one of those areas that can appeal to people that otherwise have no interest in coins and just want the metal content |
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Valued Member
United States
360 Posts |
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Moderator
United States
189462 Posts |
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Theres two huge problems with doing that for a copper hoarder. I read his post as illustrating a difference between collectors and hoarders. |
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Valued Member
United States
84 Posts |
I think it is most interesting why people hoard. For me it was having lost everything (2 floods, 1 fire) and having nothing left (pictures was the hard part, can't replace those). And I think age has something to do with it too but idk.
Are these coinstar machines capable of seperating real copper from alloy pennies?
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Replies: 29 / Views: 4,905 |
First Page
Posted 07/14/2013 01:38 am
