| Author |
Replies: 8 / Views: 2,186 |
|
|
New Member
United States
41 Posts |
was looking at buying 5,000 copper pennies for possible investment purposes, and wanted to know how much people pay for these?
|
|
|
|
Valued Member
United States
68 Posts |
In my experience, it depends on how much you buy at once. I see people pay more than 3¢ per on ebay. However, I often see CTU's @ $145, so less than 1.5¢ ea @ 10000. Maybe if you find someone to do half a trade unit you could get them for 2¢ ea.
|
|
Pillar of the Community
United States
5825 Posts |
Copper CENTS would not be a worthwhile investment. The spot price for copper is so low that you'd have to buy tons to maybe make it worthwhile. And if the CENT was removed from production there are still SO many that except for maybe an immediate, small and short term spike in their value nothing would really change. Look at the production figures in your Red Book.
|
|
Pillar of the Community
United States
589 Posts |
The mint produces most new cents to replace coins that are lost, destroyed, or abandoned in coin jars every year.
It would take a long time, however, for modern cents to be worth what low grade large cents are. It's not to say it won't happen, it's just to say that thousands upon thousands of millions (in other words, billions) of them would need to hit the melting pot before that day will come. And it will happen to, as soon as copper prices rise enough to make it worth people violating law and melting them down, they will. (I'd recommend waiting until Congress repeals the law, or melt them down in Canada or another country where Congress really has no say)
As for buying them, have you tried CRH? They're a great investment at that point. $50.00 in pre-82's suddenly become worth $100 copper (rounded a little bit).
|
|
Pillar of the Community
United States
3843 Posts |
Why not go to the bank and get a 5000 count box and sort them out yourself? From what I've seen the average box has 10% to 20% copper so you could meet your goal in no time. Also if they don't turn out to be a worthwhile investment you wouldn't be out anything except your time.
|
|
Pillar of the Community
United Kingdom
837 Posts |
 with joe , if you buy them the shipping fees might be steep for only $50 worth of pennies  , especially when you can pick up rolls during your normal daily routines and save yourself the hassle of shipping fees + since you are looking at this as an investment , I guess you are thinking long term -so you can also accumulate copper cents from your change and over time you would have a have a huge bunch of coppers at very little extra cost 
Edited by DaytR 07/22/2014 3:26 pm
|
|
Valued Member
United States
174 Posts |
Agreed with above x2.
You also get some real treats in finding wheats! Even better, finding 2 cent euros, old canadians (which, in my opinion will increase in value quickly) and other great finds make it a wonderful hobby.
|
|
New Member
 United States
41 Posts |
Thanks for all the replies. The reason I ask is that someone locally is selling 5,000 coin bags of them for $80 and wanted to know if it was a good deal. I've definitely thought about CRH, and feel like it would be really fun to comb through for errors and other awesome finds, but the amount of time I imagine it would consume always threw me off.
|
|
Moderator
 United States
15394 Posts |
Quote: the amount of time I imagine it would consume always threw me off. The thrill of the hunt is of course different for each of us. Many enjoy coin roll hunting (CRH) ... others see it perhaps as a chore. To each their own ... and as such the personal enjoyment of this great hobby. David
Take a look at my other hobby ... http://www.jk-dk.art
|
| |
Replies: 8 / Views: 2,186 |
|