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 Replies: 39 / Views: 5,751 |
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Pillar of the Community
United States
1280 Posts |
yep keep adding to my 100+lb stash
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Valued Member
United States
149 Posts |
People are just chatting about illegal activities and how they would be rich lol
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Moderator
 United States
189340 Posts |
Quote:
People are just chatting about illegal activities and how they would be rich lol  |
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Rest in Peace
 United States
1380 Posts |
What am I not getting here? If I put away $100.00 worth of random wheat pennies in 1958 ( I was only two, but let's say I was precocious) today the numismatic value would be about three to five cents each, or let's say $400.00. Melt value, around $400.00. My investment is worth four times it's cost!
But.
Inflation was happening that whole time. It would take about $900 in today's money to buy what my $100 bought in 1958. So, setting aside $100 in wheat cents in 1958, did I make $300 or lose $800? But if I bought $100 worth of whiskey in 1958, it would be $900 worth of whiskey today. The moral is, whiskey, not cents.
Frankly, saving copper cents is never going to pay off. Inflation will increase as fast or faster than their copper value.
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Pillar of the Community
United States
1280 Posts |
If you put away bank rolls of bu cents in 1958, you'd get at least $10 apiece today
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Rest in Peace
United States
1380 Posts |
Yes, but I said random circulated wheats. Coin Roll Hunters searching copper aren't putting away rolls of b u coins, they are putting away random circulated copper. I still say that with inflation, saving copper memorial cents is a losing game.
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Bedrock of the Community
Australia
21788 Posts |
Will only be one or two years to go, before I start my zinc stash !  And the copper plating will protect them from corroding away.  Currently, there is 0.7 cents worth of zinc in a Zincoln.That's the power of inflation for you !Also, pay off your mortgage with inflated fiat money, and use the power of inflation to your advantage. Bonus  : There is no investment tax to pay, because you are paying off a loan. A bit similar to short selling cash , but using fiat money to do it with. Edited by sel_69l
03/01/2021 9:33 pm
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Pillar of the Community
United States
1280 Posts |
@jgfindring they aren't bu now because they're 40 years old today. The average value today of a lot of wheats found in 1958 would almost certainly be over 9c, especially if it were taken from the west coast
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Rest in Peace
United States
1380 Posts |
Hey, I'm not trying to argue, just stating my opinion that there are much better ways to save / invest than pulling copper cents out of rolls while roll hunting. Pulling silver while roll hunting dimes, quarters or halves comes to mind.
And I don't think anyone pays 9 cents each for random wheat cents. See any of five hundred posts on here on the subject of random bulk wheat cents value.
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Valued Member
Canada
54 Posts |
In Canada pennies were discontinued. My pennies are at over 3 cents now in melt value and I see no reason I can't smelt them down if I wanted.
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Pillar of the Community
Australia
1333 Posts |
@jgfindring So is buying low yield government bonds (negative real rates), yet insurance and pension fund still buy them.
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Bedrock of the Community
United States
94367 Posts |
Saving the old copper cents for their bullion value seems like idiocy to me; the implied time, storage, and transportation costs to ever convert these silly things to hard cash is a losing proposition with just a few minutes of thought, much less putting pen to paper. |
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Moderator
United States
189340 Posts |
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Pillar of the Community
Canada
5402 Posts |
saving old bronze pennies , like roll hunting ......
Monetized , you might as well take a McJob .
Total waste of time you will never get back .
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Bedrock of the Community
United States
19213 Posts |
Just think what you could trade for if you had a wheelbarrow full of copper cents in a post apocalyptic world--bar of soap, maybe?
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Replies: 39 / Views: 5,751 |
First Page
Posted 02/26/2021 1:16 pm
