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 Replies: 15 / Views: 1,525 |
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Pillar of the Community
United States
959 Posts |
Now that Copper has jumped 13 cents to $3.10 a pound, who will pay 2 cents each for every cent us 'hoarders' have collected?
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Pillar of the Community
United States
3294 Posts |
Since they are technically illegal to melt, maybe not as many people as one might think.
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Pillar of the Community
United States
625 Posts |
Not a lot of people. Two factors here, illegal to melt and there still is a good percent of copper cents in the wild. Eventually these will dry up. If it becomes legal to melt, then you have yourself a market.
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Bedrock of the Community
United States
17884 Posts |
Once they dry up, or the cent is discontinued, then it will probably become legal to melt them. That was what happened with the silver back in the late 60's early 70's. Silver coins were illegal to melt until the number in circulation dropped low enough that it was no longer worthwhile for the Federal Reserve to continue separating the silver from the clads, then the law was repealed.
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Bedrock of the Community
United States
19930 Posts |
The melt ban doesn't matter. They will still trade as bullion rounds. See how many you can fit into a flat rate box, put 'em on ebay and see what happens. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
10982 Posts |
In the past these have sold on ebay at 1.5X face. If you're trying to make money doing it - $50 in copper cents for $75 sounds good until you realize 5000 cents weighs 34 lbs and costs $11 (med. flat rate box) to ship. People have done it though. |
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Pillar of the Community
United States
4541 Posts |
thats why you sell 100 in copper and get it closer to that 70lb weight limit. make it more worth your while
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Pillar of the Community
United States
1042 Posts |
please stop discussions such as this one...  I'm still finding about 15/20% copper inside each bank box I go through, and you all are making me feel guilty for rolling them back up and shipping them out!  If this keeps up, I'm gonna have to get a second job to afford my hobby!  |
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Bedrock of the Community
United States
10982 Posts |
Quote:
thats why you sell 100 in copper and get it closer to that 70lb weight limit. make it more worth your while Can you get 10,000 cents in a med. flat rate box? I've never tried, and probably never will, but am curious. If you can then that would net you $39 selling at 1.5X face. $39 and a hernia that is!  |
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Bedrock of the Community
United States
19930 Posts |
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$39 and a hernia that is! LOLOLOLOL I'm hoarding copper cents still. Copper just keeps rising and it's predicted to higher yet. |
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Pillar of the Community
Canada
1082 Posts |
"Illegal to melt"...okay, but what is there to prevent some guy with an acetylene torch from doing so? All melted copper looks pretty much the same -- who's to say it was formerly a bunch of pennies?
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Valued Member
United States
487 Posts |
For questions about copper cents there is a forum that is mainly about hoarding copper. They have information on machines to do the sorting for you. How to pack and ship $100 worth in a flat rate box. It is realcent and one guy on there posted a picture of boxes stacked floor to ceiling in his garage. Hand sorting large amount of coppers is not profitable, I do it for fun and have pulled over 1500 wheat cents out of rolls in the past year. My goal is to have 1 ton of coppers and $100 worth of nice red pre 82's. My thought is when they lift the melt ban that a large number of copper cents are going to go away forever and collectors are going to have a much harder time finding nice memorials for their collection.
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Bedrock of the Community
United States
17884 Posts |
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"Illegal to melt"...okay, but what is there to prevent some guy with an acetylene torch from doing so? All melted copper looks pretty much the same -- who's to say it was formerly a bunch of pennies? True, but cents are copper in a recognizable form with a known composition. If you are selling them for scrap they would bring more than unmarked bars of unknown copper alloy. Selling them as bars the markdown may be great enough that you would do better spending the coins. |
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Pillar of the Community
United States
2589 Posts |
Ive got a a few pounds of scrap sheeting and pipes I've been holding on to, ill probly sell at $4 when it hits ther
-XoG
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Pillar of the Community
United States
3294 Posts |
Well if you wanted to take a torch to them you could, but you have to pay for the fuel...
Edited by nod2003
11/19/2009 10:51 am
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Pillar of the Community
 United States
959 Posts |
Went up another penny yesterday. $3.11. I can just see the 'Headlines'. "COPPER TO BACK U.S. DOLLAR".
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Replies: 15 / Views: 1,525 |
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Posted 11/17/2009 11:34 am
