| Author |
 Replies: 77 / Views: 5,539 |
|
|
|
Bedrock of the Community
United States
19958 Posts |
1) Wait for commodity prices to escalate again, then sell at 2x face.
2) Copper cents will be mostly gone from ciculation some day as they're plucked out when copper reaches record highs. Then these coppers could be on about the same level as today's wheats.
|
|
Bedrock of the Community
United States
19958 Posts |
We also have to consider...yes, it's illegal to melt them....but not for the mint. They could be doing some serious melting to use the copper for other purposes. When that happens, the high mintages for the Memorial series will be a non-factor anymore. Furthermore, who's going to stop some nefarious people from actually melting them to sell the copper...just like drugs...it will happen when it becomes worth the effort.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
|
|
Valued Member
United States
67 Posts |
Did a box this weekend. 19 wheats and 46% copper.  |
|
Valued Member
United States
311 Posts |
Quote:
We also have to consider...yes, it's illegal to melt them....but not for the mint. They could be doing some serious melting to use the copper for other purposes. When that happens, the high mintages for the Memorial series will be a non-factor anymore. When clad coins were introduced, it became illegal to melt silver coins... Once the Mint moves on to a new, extra-cheap format for cents, it will eventually become legal to melt coppers again. Most copper cent hoarders are just taking the long view. |
|
Valued Member
 United States
369 Posts |
I've read that many are saving all copper cents over a certain grade, and some are keeping all of them, and plan to keep them. If/when it becomes legal to melt, they plan on so many to be melted that they will be worth more as a collectable. In other words, so may will be melted down, that the rest will become rare.
I keep everything about ef+ seperate from the rest. I may end up keeping all of them, considering I only have about five dollars worth.
|
|
Pillar of the Community
United States
1121 Posts |
Percentages of Copper cents in your area...? my area? around my desk is about 98% hehehe  |
|
Valued Member
United States
369 Posts |
The average is still right at 25%. The average on desks is also steady at 98%.
16 states so far. I'm keeping a spreadsheet and a U.S. map with a text box on each state with the current percentages. Repeat states welcome, I just add it into that state's average.
Is there a way to post a Word document here?
|
|
Pillar of the Community
United States
1121 Posts |
Nice. Gonna give us a nice report when you finish collecting your data?
|
|
Valued Member
United States
369 Posts |
Assuming there is someone here from every state. That's my goal: at least one percentage from every state.
|
|
Pillar of the Community
United States
1121 Posts |
Interesing idea...looking forward to see the numbers!
|
|
Moderator
 United States
188770 Posts |
Quote:
Furthermore, who's going to stop some nefarious people from actually melting them to sell the copper...just like drugs...it will happen when it becomes worth the effort.  The fact that there are laws against stealing, murdering, speeding, and selling drugs, does not mean people have ceased such activities. People are stealing copper from construction sites and melting copper cents! Quote:
Most copper cent hoarders are just taking the long view. I agree, and my long view goes along with BadThad's thinking... Quote:
They could be doing some serious melting to use the copper for other purposes. When that happens, the high mintages for the Memorial series will be a non-factor anymore. |
|
Pillar of the Community
United States
1121 Posts |
I know people in the construction industry who put in copper cent with their leftover scrap such as copper fittings and pipe. They just pile them inside and the guys who do the waying and are paid $7 and hr could care less if they are melting down "pennies" with there fittings.
|
|
Valued Member
United States
311 Posts |
I don't really see copper memorials ever being in short supply, regardless of melting... After all, the Mint melted millions of Morgans (mercilessly!), and common dates are still pretty cheap, even though the entire series mintage was a tenth of the LMC production for Philly in 1980 alone! And silver Roosevelt dimes, and 1964 quarters & halves are still essentially bullion only, though those have been melted in quantity... Guess my view isn't *quite* that long :) |
|
Pillar of the Community
United States
3077 Posts |
up to 23% coppers
2 wheats in six rolls
|
|
Pillar of the Community
United States
1026 Posts |
Just got $10.00 or 20 rolls of pennies Monday at the local bank here in Texas.
Out of 10 rolls.
$ 1.50 in copper
Three each wheat pennies
Edited by Brucec
01/07/2009 10:54 pm
|
| |
Replies: 77 / Views: 5,539 |
First Page
Previous Page
Posted 01/04/2009 7:38 pm
