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 Replies: 19 / Views: 3,893 |
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New Member
United States
35 Posts |
I have been coin collecting for 3 months.. but I am stopping as I lost nigh entirely lost interest in it over that last couple weeks. In the process I found many AU50-MS60 pennies from 1960-1981. I found lots of EF 1959s and nearly two rolls of Wheaties. In addition I have literally 30Lbs of 1959-1982(only the copper 82's) in a large tea jug. So that's a lot of pennies.
Now that I have all these coins I don't want.. what should I do with them. They may be valuable 20 years from now but who knows that's a lot to just carry around with me in my house if I move.
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Rest in Peace
10197 Posts |
Two camps, save or dump. I joined the dump last year after realizing one big factor. Yes copper is considered a PM, tradeable in market BUT, copper cents 1) cannot be melted now legally 2) it will take more to extract the refined copper than one cent is really worth, to make it viable, need tons of the stuff 3) when time comes, the massive amounts hoarded being unloaded at once will bottom out the market and be worthless for small amounts less than 500 or more POUNDS.
I took my 110 dollars of copper "CENTS" cashed them in and purchased the like amount in silver bullion at .999 pure which will be really easy to unload when the poo-poo hits the blades.
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New Member
 United States
35 Posts |
That was a very quick and very helpful reply. So I should just get cash for it basically. I mean I 'could' save my 30lbs I have for 20-30 years in hopes the value would skyrocket but that unlikely and they may never stop minting pennies it seems so that infers with value potential from melting.
Thanks again... as far as I know 30lbs of copper pennies will be around $45 dollars.
I really desire to collect geodes or precious gems. I have loved crystals, amethyst, emerald, etc my whole life. So that would be something better for me to delve into. I have been blessed enough to find a pure non milky quartz crystal as big as my thumb, an amethyst the same size and a pretty small egg sized amber colored round quartz... they're pretty I love gems sooo much!
How I'd love to find a 50+ lbs amethyst geode someday to decorate my house with.
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Rest in Peace
United States
17900 Posts |
Dump the cents. None of us will live long enough for them to be worth saving.
There are billions, if not trillions, squirrel ed away.
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Moderator
 United States
34397 Posts |
@TB, I'm of the opinion that you should dump your copper too. Others here may disagree.
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Valued Member
United States
420 Posts |
Probably closer to $36.. Which is great, as that'll get you 2 x 1oz. .999 fine BU generic silvers.. Much easier to move..  Swamp |
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Rest in Peace
United States
18456 Posts |
Dump them and buy a decent collector coin with the money .  |
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Pillar of the Community
Canada
5239 Posts |
Unless you really need the $45, or you don't have the space, just keep them. I realize that they will never be worth a fortune, but neither will 2 oz of silver.
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Pillar of the Community
 United States
5666 Posts |
I dumped mine at the bank last year. It's like storing 30 pounds of scrap metal for decades. I can think of better uses of $45.
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Pillar of the Community
United States
717 Posts |
Interesting discussion. So far dumping them seems to be leading!
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Rest in Peace
10197 Posts |
I'm quite surprised the "crave 'em, save 'em" crowd hasn't showed more force! I usually get eaten alive for my comments, very seldom wholly agreed with! The other option could be to offer online as 5000 count bulk copper lots. These sell at PM outlets for @ $100+ and you can ship USPS Priority Mail Medium size box at $13.65 fo up to 70#(cheapest way possible). Just make sure you tape the box very well!  |
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Bedrock of the Community
United States
12477 Posts |
Actually, selling them in lots might bring some profit for you from those. It may be very little, so not really worth it if you don't sell online already. I keep coppers, but not from CRH, just from change, so it's not a big deal or taking up too much space. If you have that much of it, I agree with cashing it in and that's probably what I'll do when I get that much unless the situation has drastically changed at that point in the distant future.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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New Member
United States
35 Posts |
Wow you all are super helpful!! I am possibly leaning towards selling them online as a large bulk of copper pennies and describe everything in details as someone else here said. That's be darn nice if I made $100 on them.. I'm trying to get money for a racing sim wheel, pedal, shifter set anyways.
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New Member
Canada
3 Posts |
I would try and test the online market for selling the pennies. As stated before, it would be best to load up on .999 silver bullion which could be unloaded easily and efficiently. Would anyone purchase fine copper bullion as an alternative?
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Rest in Peace
10197 Posts |
CT, there are some that do, it is really inexpensive to buy a brick or two (1lb). But my problem is this w/PM's. What is your purpose, investment or prepping? Investment is longterm, usually, so a large size of 5-10oz is guite realistic investing...buy low sell high, blah, blah! Prepping will need be different. A 10oz bar is hard to break into barter pieces, same with the 2oz bullion coins/rounds/bars. Smaller then is better, but more expensive as an individual purchase. The cracker/wafer 100 gr breakoffs are ideal, less expense, better barter. Although I think when SHTF, barter means won't be PMs, but food, bullets and medicines! "What's in your cupboard?"  |
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Pillar of the Community
United States
4211 Posts |
I would just dump them in a Coin Star if they were mine. Good luck with whatever you decide!  |
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Replies: 19 / Views: 3,893 |
Posted 04/28/2018 6:03 pm
