| Author |
 Replies: 26 / Views: 6,264 |
|
Valued Member
Canada
187 Posts |
I'm sure I'm not alone in this, but I have tens of thousands of pennies (all pre 1967) and thousands more pre-1981 nickels in jars scattered through my house. I'm looking to declutter my house, but have a dilemma when it comes to these coins. The coins I have are worth approximately 2-3x face value, but I can't find a good way to get rid of them. I don't want to take them to the bank at face value and lose ~$500. If I sell them, the price of shipping will destroy any return (not to mention ebay's substantial bit out of the bottom line). I live in a small town, so there aren't a lot of dealers around to buy them. I suspect most dealers wouldn't be willing to pay any more than the bank anyway. Has anyone else here successfully navigated this problem? How do I get rid of these coins and maximize my value in the process? |
|
|
|
Pillar of the Community
 Canada
5460 Posts |
Try kijiji or facebook buy and sell.
As an addendum, the pennies can go to the scrap yard for raw copper prices, much more than face value.
Edited by okiecoiner
09/08/2022 2:54 pm
|
|
Pillar of the Community
Canada
970 Posts |
Maybe you can find some inexpensive folders and put together some date sets. Then try selling them on ebay for a premium. You're right, it's doubtful a dealer will pay more than face value for them. They may not even want them at all. Don't take them to the bank. Even if you sell them to someone else for face value, at least someone else gets to enjoy them. |
|
Pillar of the Community
 Canada
5273 Posts |
Take them to the bank , get your money for them .
Invest the money in a dividend paying stock .
Never look back .
|
|
Valued Member
Canada
89 Posts |
 Yes, definitely take them to the bank, you will be doing the hobby a favor by culling part of the heard. I hate to say it, yet no dealer will ever want these coins, even for face value. They are extremely common base metal coins that I'm presuming are in very well circulated condition. I'm also thinking it's doubtful that very many (if any) collectors will want them for this reason as well. I don't think making date sets to sell on ebay for a premium is a good idea either. I'm one of those collectors (who reasonably thinks I'm in the majority on this one) who sees these date sets for sale for any sort of premium and think "not going to happen", as they are only worth face and have no collector demand.
|
|
Pillar of the Community
Canada
849 Posts |
Aren't large quantities of coins just kept to eventually sort through for varieties? Coin roll hunting. I can't imagine you acquired these with the thought that they would appreciate enough to sell them.
Why don't you just have fun spending them or hand them down to a young relative who might be interested? Or bring the pennies across the border and put them in a coin counting machine at a grocery store to get your money.
|
|
Bedrock of the Community
United Kingdom
17094 Posts |
Pre-1982 cents are sought-after by people who collect elongated coins, as they give much better results than zinc cents when squashed. You could contact one of the elongated coin forums online and see if anyone would like to buy some.
|
|
Valued Member
United States
384 Posts |
I wasn't aware that you could sell them to scrap yards?
|
|
Pillar of the Community
Canada
663 Posts |
Quote:
Take them to the bank , get your money for them .
Invest the money in a dividend paying stock .
Never look back . Regardless of what you ultimately do... the best advice is the last line from @pacificoin... Never look back... that way lies the madness of second guessing, what ifs, could'a, should'a. Never Look Back That advice is good for all transactions, significant or otherwise... Keep rolling forward.
|
|
Valued Member
Canada
71 Posts |
I have seen jars of them at auctions and people pay ridiculous prices for them hoping to find treasures. I would try that.
|
|
Bedrock of the Community
United States
94367 Posts |
You'll be lucky to find a bank that would accept these in bulk form, which presents big counting and wrapping challenges to them. All this after you've spent much time finding a way to bag up and transport them, with gas costs added on. Playing the "intrinsic value" factor for copper coins has always been a losing proposition and always will be. Add up every cost associated with saving and harvesting small copper cents and you'll find you've actually lost a lot of money if time has any value at all.  Edited by Coinfrog
09/08/2022 6:25 pm
|
|
Pillar of the Community
Canada
2418 Posts |
If you are handy you could try some home build project like placing the penny's on a table and covering them with clear glass or Varnish.  |
|
Pillar of the Community
United States
638 Posts |
I've had good luck selling them on ebay. List them by monarch type: George V, George VI, Elizabeth II young head, Elizabeth II 1965 to 1996. Anything from 1997 to date goes to bank. |
|
Pillar of the Community
United States
535 Posts |
Why do you think that they are worth 2 - 3 times face?
|
|
Pillar of the Community
United States
856 Posts |
If a dealer is willing to pay you anything over face, you should go that route and be done with them. I have done that more than once. Fastest way to de-clutter and you don't have to deal with the time needed to try to sell them in bit lots for small marginal gain. Then you could take the cash and buy a few keepers.
|
|
Pillar of the Community
Australia
1590 Posts |
I was going to ask about shipping to some to AUS but then remembered Canadian Royal mail postage costs are a deal killer.  |
| |
Replies: 26 / Views: 6,264 |
Posted 09/08/2022 10:17 am
