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 Replies: 18 / Views: 3,324 |
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Valued Member
United States
381 Posts |
Over 4 months of crhing, I have amasses 40lbs of copper cents.($60 face value) They're are big and bulky and I have no use for them. Should I try to sell them to a coin shop, list them on ebay, or turn them in for face? Thanks for the help. -coin_kid |
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Pillar of the Community
United States
602 Posts |
Coin shop, no. They can't do anything with them because no one can melt them. ebay would also be bad. Remember, you would need to get a person who wants to buy something (copper pennies) that they could easily get themselves, given enough patience. Plus, they get 10% AND then there is shipping. Little/no profit, IMO. I think you are better off getting face and then buying something else, some that could hold its value over time a bit then than waiting for the 40 pounds of copper coins to be legal to melt (if that will ever happen to begin with). |
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Valued Member
United States
493 Posts |
Check out realcent.org sometime, they typically sell as a CTU, (copper trade unit) which is $100 face. A year or three back when copper was a little higher it was a more popular sport. $60 is not much of a hoard, I was over $1000 before I finally cut back, now I just have $200 worth rolled and boxed. Also, they are not pure copper, even if we could melt, refiners prefer .999.
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Pillar of the Community
United States
4212 Posts |
My grandkids have been getting $22-24
for them. A sm. priority box contains them perfectly. That's 10lbs, a little over 1550 pieces.
Awhile back, they started an auction @ .99 on a Sat.
It ended on Tues; I believe. The lot was won for .99, last time that happens.
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Pillar of the Community
United States
1188 Posts |
Either cash them in or hold onto them. Coin store won't give u anything more than face even if they will buy them. One day they will be a lot harder to find in circulation. That may be 5 years or it may be 50 years, who knows. That still doesn't mean they will be super valuable like junk silver became but it won't be as easy to get them in the future once they stop making them.
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Rest in Peace
United States
18456 Posts |
 Do yourself a favor and cash them in for face. I think yesterday copper was only $2.53/lb. and you can't sell them for melt. as I found out it's just a waist of time to hoard them. cashed mine in about a year ago and bought some real nice Mercury dimes with the money.  |
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Pillar of the Community
United States
632 Posts |
Might be a little sketchy but maybe try listing them on craigslist and see if another copper hoarder will bite. Melt value for 6000 cents right now is about $100 so I would say list them for that and be willing to meet somebody within a 20 mile radius. That should still be a good $30 profit after fuel costs.
I think in many ways hoarding copper cents is a waste of time, but if you're CRHunting anyways then it's probably not a huge deal to save them and I personally think you're going to see a small window of time after they discontinue the cent (which I also think is just a short matter of time before we do) that your going to be able to trade copper cents easier than you have before.
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Bedrock of the Community
United States
94367 Posts |
Assuming you've taken out the LWC, you should just turn them in and buy yourself something decent. |
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Rest in Peace
United States
17900 Posts |
If you've already checked them. Dump them.
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Pillar of the Community
United States
4809 Posts |
Take them back for a fresh lot of coins to CRH. Good luck!
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Bedrock of the Community
United States
20753 Posts |
As so many have already said, dump them. Take to a bank, get the cash and buy some coins you need or want. OR buy me something for making a good suggestion.
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Bedrock of the Community
United States
19947 Posts |
I've always feared if I dumped my hoard, shortly after all heck breaks loose, copper will shoot up to $8/lb. So for now, the 5 gal pail sits on my floor full.
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Valued Member
United States
232 Posts |
My vote is with those who say dump them - there is little profit in them these days, and there are still lots in circulation.
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Pillar of the Community
United States
1037 Posts |
I have been pondering the same thing. I have (3) kilo copper bullion bars, 6 pounds of wheaties, and a $25 box (seems like a brick) of Federal Reserve 1981 cent rolls.
It's heavy and really takes up a lot real estate for the value, compared to Ag & Au.
So I'm hanging on to them for the moment.
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Moderator
 United States
188213 Posts |
Quote:
I've always feared if I dumped my hoard, shortly after all heck breaks loose, copper will shoot up to $8/lb. So for now, the 5 gal pail sits on my floor full.  Keep them. Find the space.  It should go without saying that copper hoarding is a long term play. |
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Pillar of the Community
United States
1005 Posts |
I'd hang on to them if I were you unless you really need the cash. They might make a nice gift some day to a kid starting a penny collection.
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Replies: 18 / Views: 3,324 |
Posted 07/09/2015 7:18 pm
