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 Replies: 16 / Views: 1,830 |
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Pillar of the Community
United States
869 Posts |
OK I see the copper prices dropping  and also aluminum is below a buck now. I was thanking of rolling up all my 1970 and up copper. What do you guys think? Or what do you keep aside in your roll searches?  cents(1cents,5cents,25cents,50cents)years on each? |
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Pillar of the Community
United States
3499 Posts |
coindexter- I was beginning to wonder this as well. Honestly, I'm holding onto mine since I took all of that time and effort to sort and roll them for storage. (I need to have something to show for my efforts).
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Rest in Peace
United States
9104 Posts |
Do you collect coins or scrap metal? Wrap the crap and trade it in for something worth having.
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Valued Member
United States
296 Posts |
Coindexter, if it were me I would keep all your copper cents. Copper may be low now but I highly doubt it will stay that way for long.
Consider, with all these government bailouts and stimulus packages, we have hyper-inflation coming that will make the '70s look mild.
When the Chinese economy gets done transitioning from making things for Americans to buy, to instead, making things for their own domestic consumption with all the money they made from selling us stuff, the insatiable demand for copper and other base metals will resume.
This combination will drive the prices for copper and other base metals sky high.
You spent the time saving them, why get rid of them now? They still have a melt value above face. I would hate to see you get rid of them and then wish you didn't.
However, if you are determined you want to rid yourself of them, PM me. If you have enough quantity to justify the shipping, we can discuss me buying them from you at face value.
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Moderator
 United States
187950 Posts |
I say if you can afford to keep them, then keep them.
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Pillar of the Community
 United States
869 Posts |
OK they are staying in the jar. Thank you guys. I guess looking at it this way helps. I was born in 1970 I'm 38 yrs old/and so are them coins. And now that they are changing the design that should make the nicer ones I do have worth a bit more.(reds and VG browns for sets)
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Pillar of the Community
United States
3499 Posts |
So how much is an ounce of copper worth these days? And how low would copper have to go before pre-1982 pennies became one cent or less in bullion value?
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Rest in Peace
United States
9104 Posts |
Copper sells by the pound, I'm sure you can google the spot price. There are roughly three rolls of copper cents to the pound.
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Pillar of the Community
United States
2540 Posts |
wrap them, by the time that you can sell them for copper you would have made more money elsewhere.
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Pillar of the Community
United States
2269 Posts |
 Wrap them up. |
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Pillar of the Community
Canada
838 Posts |
Maybe keeping them is good for another reason: what if you later decide to search for new varieties you aren't presently interested in? I have sometimes wished I had a "small" hoard on hand for this purpose.
As for melt value, would you buy copper at today's prices? If so, then hold; if not, then wrap em up and sell. I personally think copper will out perform a bank account over the next 20 years. Metals are a hedge against inflation.
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Valued Member
United States
296 Posts |
Quote:
I personally think copper will out perform a bank account over the next 20 years. Metals are a hedge against inflation. I would still like to buy them from you if you decide to wrap 'em... |
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Bedrock of the Community
United States
20753 Posts |
If you don't need the money and have lots of space to put STUFF in, sure keep them. Who knows in a few hundred years you may make a few dollars on them. Hoarding lots of not to valuable coins remind me of myself not long ago. When they came out with those Bicentennial Quarters myself and a friend went nutty stockpiling them in as close to Uncirc as possible. Even rolls of Uncirc's. After about 30 years of saving them we attempted to sell them at coin stores and coins shows. Best offer was $0.24 each as a joke or method of saying NO DEAL. No one wanted them for hardly nothing over face. A few dealers did say they would give us a few cents for our troubles. All ended up in the bank in my savings account. I had hundreds of dollars worth and my friend had thousands of dollars worth.
Now thinking back I'd rather have had the interest or a good time at a bar.
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Pillar of the Community
United States
869 Posts |
Well I wrapped up my 1980,81,82-d cents.Sorry bofin. And also the damaged ones. I have been busy. Just for those years I got $35. Enough to buy a 1924-d cent. Boy what a space saver that one cent.
Edited by coindexter
10/24/2008 11:44 pm
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Pillar of the Community
United States
764 Posts |
the current basemetal cost of a copper small cent is 1.1 cents. =\
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Bedrock of the Community
United States
20753 Posts |
Quote:
Well I wrapped up my 1980,81,82-d cents.Sorry bofin. And also the damaged ones. I have been busy. Just for those years I got $35. Enough to buy a 1924-d cent. Boy what a space saver that one cent.
Amazing, huh? I remember when I used to tell people I'd never get rid of my 5-1/4 floppy computer dics. Then I told people you can't beat those new 3-1/2 floppys. I just bought a thing you place into a USB port and it holds 8 gigs of info. AAHHHH, to save space. Remember film cameras? Used to carry around piles of rolls of film. Now one little computer card holds thousands of photos. |
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Replies: 16 / Views: 1,830 |
Posted 10/20/2008 5:59 pm
