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 Replies: 16 / Views: 5,680 |
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Pillar of the Community
United States
2424 Posts |
not sure where to post this... the dilemma I have is that for a year I have had a $25 box of copper cents lying around, searched through of course, and I was thinking of trying to sell them on ebay. However, I do not see many successful sales of copper pennies anymore like I did a few years back. with that being said, I have had success in the past selling boxes. But, would it be more profitable for me to just recirculate this copper and just search for wheat cents? i see that the sale of wheat pennies ARE selling at a decent premium. maybe I'm wrong.. thoughts? What would you do? |
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Pillar of the Community
Canada
3167 Posts |
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Pillar of the Community
United States
1234 Posts |
That is Canadian I think he's talking about Pre 1982 US cents. To Hoard or Not to Hoard... it's all up to you. If you have any LWC I'd say talk to your LCS, One place I go will pay 2 cents per and another pays 2.5 for any Wheat penny. If you are bored and have the time to search another $25 and they are all common date LMC I'd say turn them in for another box and have fun. Heck I just bought a 1913-S for $2.00 then found a 1913-D in a roll two days later  Edit: added everything after 'to hoard or not...' Edited by ASLAN TVorlon
05/06/2014 9:06 pm
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Pillar of the Community
 United States
2424 Posts |
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Pillar of the Community
United States
2824 Posts |
I get boxes every 3 day of pennies after I search them I dump them back into circulation for small fee. I would sell as them copper bullion but mind you the average ebay buyer is getting them to search. After I hit a box it is toast... I decided not to sell mine as the possibility for negative feedback. but there must be copper hoarding end of days survival types that do buy them in bulk also for no numismatic value if you list it as so. but for me losing money dumping into coinstar better that other options and dumping at bank comes back to bite you if you bank there. |
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Pillar of the Community
United States
8137 Posts |
I used to keep copper cents until I got out of it. Melting them is illegal and there are plenty of them out there to satisfy demand. I still have several rolls of them but I am not adding to them. If you decide to sell them on ebay, remember you do have to pay a fee if they sell and they will most likely sell for a little over face. I would just cash them it at the bank. |
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Pillar of the Community
Canada
726 Posts |
I found out illegal to melt....BUT it depends on where, I not sure if yu cross state lines yu can..For Canada we have to take our pennies to USA and melt them there, then its legal..  I'm no lawyer but now that the canadian penny was demoneyized (Be kind), I say it may not be illegal any longer now to melt them even in canada..But Canadian legal tender can not be defaced (Melted) in canada by normal canucks....Government must be exempt I'll guess...  Edited by persistnt
05/07/2014 01:20 am
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Pillar of the Community
1325 Posts |
i have not been saving copper since I get about 50% each box. but I do have a box of 70s and working n a box of 60s. the rest I jsut eithe spend or try to trade for more boxes to find other things. currently stuck with 3+ boxes right now as there is no coin machine around except Coinstar and not interested in losing 5 rolls per box since that is more than I keep from each box.
do you want profit from them, or more coins, that is the collectors hardest question.
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Moderator
 United States
56855 Posts |
Try selling on Craigs List,if that doesn't work then just turn them in at your dump bank. John1  |
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Pillar of the Community
United States
4809 Posts |
John - getting close to a milestone (if you hadn't noticed).  I've been tracking the copper yield over the past few months and it's pretty steadily at 30%. Given the enormity of Zincolns produced, the ratio is probably pretty close to where it would be, obsolescence ignored (I haven't done the math). I suspect that the coppers will hold up better over time as the Zincolns disintegrate and by then, we may have made the cents obsolete altogether. With that in mind, numismatic value of copper cents will get a bump in the right direction so saving semi-key LMCs might have a better payoff. Just speculating... |
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Pillar of the Community
Canada
3167 Posts |
Quote:
pre 1982 US pennies Ahh... my mistake, sorry. Yeah, American Pre-82 don't really seem like they have enough value to be worth while. I say don't bother. |
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Moderator
United States
188130 Posts |
It is only $25 and the box is not that big, so just hold on to it for a while.
If you cannot or do not want to keep, then just cash it in. I seems like trying to sell it now would be a low-profit hassle.
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Bedrock of the Community
United States
17884 Posts |
It really depends on what you think copper is going to do in the future. For awhile selling copper cents on ebay was profitable, but copper was significantly higher then. Over the past 30 and 60 days copper has been trending up, but over the past 6 months, 1 year, and four years it has been trending down down down. Does the tend for the past 60 days indicate the start of another long term climb? Or is it merely a blip in a term term downward trend? |
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Bedrock of the Community
 United States
12817 Posts |
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I seems like trying to sell it now would be a low-profit hassle. Exactly. Your time is worth more far more than what you'd likely make. |
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Pillar of the Community
United States
2424 Posts |
So basically, I was thinking about this because I wanted more $$ to search with. trying to sell copper uses more of my time than searching. So this way I guess I will only search and keep wheats and errors.
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Pillar of the Community
1325 Posts |
Then if you can trade them at the bank for a new box, jsut do that. I have 3 boxes waiting and ready to do that with now. They are mixed and lots of cooper, but is jsut a penny to me that doesn't fill  compared to something in a new box that might fill a hole. Not saving copper ones does save a LOT of time let me tell you. When I finished my box of 1970s mix I was saving less coins, having to do less sorting into piles, etc. Now that I have my 60s year/mintmark rolls, it is taken even less time to go through looking just for foreign, 2009, 1982, and wheats and S mm. Last box keeping all the 60s, S, 2009, 1980, foreign and wheats I kept only about 5 rolls total as compared to when I was keeping ALL copper then it was half a box! the less you keep the more you have to spend or use to get more coins. the more you have of what you want the less you need to keep. that is my philosophy. good luck! |
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Replies: 16 / Views: 5,680 |
Posted 05/06/2014 8:59 pm
