Copper Hoarding?

I must have missed it - is there something special about 1986P?

Holey moley, I've just been chucking them in my rejects bucket. Seems so strange that every time I decide what I want to save or not, something pops up and tells me that I really don't want to reject that after all. Being so new at this, I make all kinds of mistakes. Like my first box of pennies I had all ready to return to the bank after extracting a few I wanted. Then I read about the copper thing. Thankfully I hadn't actually taken them back yet. So I'll go through them again.

Then the same with nickels - I thought I knew what I wanted, and then changed my mind. I had already taken that box back, though.

We live and learn. The longer I read this forum, the smarter I'll get. I enjoy what I'm doing, and I love the thrill of searching through a box, roll by roll, hoping that the next roll will have "the" coin I've been waiting for all my life, so to speak.

A box of pennies is $25. I have no idea how to know what type of coin I'll get. I hear tell that some people request such and such, but since I wouldn't know what to ask for, I haven't done that. A box of nickels is $100. I really would rather work with them because I think pennies are about as dirty as dirty can get. I get so grungy working with pennies. Nickels aren't quite that bad, but still bad enough. I hadn't had a cold or a virus in months until I started working with coins. I make sure I wish my hands after having a go at it. But I still love it.

Well, now see - something else I learned from this forum. :-)

Toni mentioned the dealer gray sheets, so I googled it. Guess one needs a subscription to know what info is in there.

I do this more as a hobby than anything right now but it can be profitable down the road:

1) Some feel that copper cents will trade like junk silver does today
2) With the new designs coming out for the penny next year, there is expected to be renewed interest in the LMC's like what happened for the State Quarters
3) It's a good way to find wheat cents and some even find Indians
4) The worst case scenario if the melt ban doesn't get lifted is that you spent some time and gas getting these. They are still going to be worth face value.

As far as obtaining them, I am friendly with the tellers at the branches I go to. At one I have a standing order of 2 boxes a week and at the other I order as I need to. My biggest order was only something like 4 penny boxes and 2 nickel boxes, but some people do 50 a week.

As far as sorting goes, some are using the Ryedale machine or some people have multiple machines. There is one guy in Illinois approaching 3 million total copper cents, and another I know of in Michigan that is saving roughly 100,000 of them per month. Storage space and weight is a huge consideration so keep this in mind and plan accordingly before jumping into it.

For unloading the unwanted zinc cents, I set up a new bank account at a credit union that has a self serve coin counter. It took me awhile to find one but it's nice as the only time I have to bother anyone is when I dump more than $50 worth at a time or when the inside bag gets filled and they have to change it. I only do it a couple of times a week to keep it on the downlow.

Sorry for the long post, but I wanted to share info that some may find helpful.

I have a serious problem of people thinking high copper prices are good for their coin hoard collection. In reality, everyone suffers and this affects EVERYONE unless you are a bushman but I don't see how you managed to come in here then.

Copper should be a basic commodity and if the price of copper is still continue jacking up higher, not only will it increase illegal copper recycling, i.e. thefts, it just forces you to pay anything that has copper content in it.

Ok, all wires have copper - please pay extra 10%. Some coinages use copper as alloys. Sorry too expensive, we'll have to use aluminum or iron. Oh add bronze and brass to the list too since it requires copper. Perhaps you need at least several pounds of copper coins just to break even, not even factoring in the time you take to look for them.

I was scanning through this post and noticed a lot of "ordered a box..." stuff. Do you actually have to order them? I walk into the bank once a week or so and throw down 25 bucks and walk out with a box of pennies. I went through a box the other day that produced 25% copper, that included 13 wheats (1918 was the oldest) and a 1971-S that looks better than some of the 2007 stuff, some dings but full mint luster.

quote:

---

I was scanning through this post and noticed a lot of "ordered a box..." stuff. Do you actually have to order them? I walk into the bank once a week or so and throw down 25 bucks and walk out with a box of pennies. I went through a box the other day that produced 25% copper, that included 13 wheats (1918 was the oldest) and a 1971-S that looks better than some of the 2007 stuff, some dings but full mint luster.

---

Alot of the banks I have dealt with around here only order enough boxes of pennies to maintain their business customers needs. Sometimes it may be late in the cycle between deliveries from Brinks, Loomis, etc so they may be able to spare a box. Your best bet though is to build a relationship with a branch (specifically the head teller) and ask them to order a box or boxes for you on a regular basis. Be sure to bring them chocolates once in awhile so that they are kept happy.