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 Replies: 66 / Views: 13,109 |
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New Member
United States
21 Posts |
I picked up $5 in pennies from a Citizen bank last week in Eastern Pennsylvania. They only had Bank wrapped coins which got me into a discussion with the tellers about coin roll hunting. The tellers told me that they have been directed to ship all customer rolled coins back and not issue them out. I went through the rolls I only found one copper penny. I normally find 20% copper. This may be a fluke / Anomaly. Has anyone else started finding mixed bank rolls with no Copper?
*** Moved by Staff to a more appropriate forum. ***
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Valued Member
United States
376 Posts |
hi, I just picked up 2 boxes of cents at a local credit union,i get 2 boxes a week, these 2 boxes had no copper cents. only 1982 to 2017 , no copper cents at all in 2 boxes. first time in yrs.
Edited by harley1960
08/26/2017 12:00 pm
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Pillar of the Community
7234 Posts |
So far haven't had that problem but that would really stink to
get 2 boxes with no copper.
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New Member
 United States
21 Posts |
Harley, are you in the philly area? What armored car company wrapped the pennies?
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Valued Member
United States
376 Posts |
hi, I live in MAINE, I was getting them from BRINKS, but was getting full boxes of 2017p, so they switched for me to N.F STRING&SONS. and was getting about 30% copper, then last 2 boxes none,even the 1982 lg date were zinc, kind of weird,hope its not an ongoing thing, may have to change banks for my boxs.
Edited by harley1960
08/26/2017 3:42 pm
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Pillar of the Community
United States
4333 Posts |
Maybe there's some kind of major melt that's been going on for some time, as I know many copper hoarders have been dumping their copper cents for some time now. Possibly China?
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
08/27/2017 08:24 am
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Moderator
 United States
54282 Posts |
Quote:
Maybe there's some kind of major melt that's been going on I would not be done legally in the U.S. |
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Pillar of the Community
United States
4333 Posts |
Quote:
would not be done legally in the U.S. As long as there is no profit involved, domestically it's legal if I understand correctly. China's not in the US and we all know how they are stockpiling the metals, both precious and industrial. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Moderator
United States
188770 Posts |
Quote:
As long as there is no profit involved, domestically it's legal if I understand correctly. I could be wrong, but I believe that the melt ban is to prevent a shortage of cents (and nickels). Regardless, China would not have to honour that ban. The only question is if these coins were exported to them legally. |
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Valued Member
United States
90 Posts |
I had this exact topic on my mind over the weekend when I noticed the price of copper had went up to the point the penny now has .02 cents of copper based off current scrap prices.
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Moderator
United States
188770 Posts |
They are definitely worth more than a cent and will probably always be.
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Valued Member
United States
376 Posts |
hi I just picked up 2 more bricks today, and found both bricks had only zinc cents again, 1982 -2017 only, no copper cents , so thats 4 bricks from same company, n.f. string & son co. I'm gonna go to my other bank to get cents and see if this a common thing now.
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Pillar of the Community
United States
4333 Posts |
NF String & Son provide the coin wrap that's it. Coin comes from the local courier, who is more than likely circulating dumps.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
08/29/2017 7:48 pm
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Valued Member
United States
59 Posts |
This copper idea makes me sick. It takes $1.60 in copper pennies to get a 1 lbs. For that pound they get maybe $2.70. Okay good so far beyond it's illegal. If your CRH your lucky to find 10 coppers per roll. So you would have to go through 16 rolls to get 1 lbs. So for $8 your gain would be $1.10. Then who are you paying to separate the coins (a machine or a person)? Either way the gain is minimal at best. So I would say this if you know someone that is buy coins for copper and melting report them to the authorities. If you know someone that is buying them with the intentions to melt when it becomes legal suggest to them the coins may hold more value. Finally, (My personal opinion) Don't buy $25 dollar boxes. That would be a for sure sign your a copper collector. Even if your a CRH looking for that special coin the bank cannot tell the difference. Just keep it on the low down get a few rolls a week and see what you get.  |
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Moderator
United States
188770 Posts |
I actually keep all 95% copper cents to prevent them from being melted.  |
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Moderator
United States
54282 Posts |
Quote:
Finally, (My personal opinion) Don't buy $25 dollar boxes.
That would be a for sure sign your a copper collector.
Even if your a CRH looking for that special coin the
bank cannot tell the difference. I don't understand your advice. Please elaborate. |
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Replies: 66 / Views: 13,109 |
Posted 08/26/2017 1:03 pm
