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Copper Hoarding - What's The Realistic Run Up?

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Ed_B's Avatar
United States
4008 Posts
 Posted 06/06/2011  8:06 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
Levin should serve as a reminder that the gubmint actually will enforce anti-melting laws.

Indeed so. We just had a more recent episode of the heavy hand of government falling upon Bernard von NotHaus, a fellow who was minting what the government called "his own silver dollars". Truth to tell, though, those coins did not look a lot like a silver dollar to me. Of course, I am one of those people who has actually SEEN a REAL silver dollar and knows the difference.

A fascinating part of this case was that the government never charged Mr. von Nothaus with fraud. I believe that this charge is always added to those caught counterfeiting money, yet in this case they did not do so. Could it be that his coins were legitimate in terms of metal type, weight, and purity? If so, then that would constitute proof that no fraud was intended.

Another fascinating aspect of the case was the shrillness of the government's case. They accused this man of being a terrorist, of all things. From what I have seen in the media, von Nothaus was about as far from being a terrorist as anyone can be. There is zero proof that he actually terrorized anyone... other than the government types who insist on perpetuating the lie that US currency is actually worth something more than the paper upon which it is printed, that is.
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w1a9c8k5's Avatar
United States
1348 Posts
 Posted 06/07/2011  2:03 pm  Show Profile   Bookmark this reply Add w1a9c8k5 to your friends list Get a Link to this Reply
people always say storage is a huge problem. I built a box about 3x5x3 and it will hold well over $1000 in pennies. This will also just sit in my garage in the corner with junk on top. Storage isn't a problem. The problem is moving it when it comes time to move.
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tokenmast's Avatar
United States
648 Posts
 Posted 06/07/2011  2:22 pm  Show Profile   Bookmark this reply Add tokenmast to your friends list Get a Link to this Reply
new here but been reading a lot it has changed my way of thinking . example I just sold our gas guzzling 83 dodge for 3 * melt
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 06/07/2011  11:14 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply

Quote:
I built a box about 3x5x3 and it will hold well over $1000 in pennies.


So if they are worth a nickel each in ten years, your system allows a $4000 maximum profit, or a dollar a day.

Gotta get that volume quite a bit higher.
New Member
Fugio's Avatar
United States
13 Posts
 Posted 07/10/2011  11:37 pm  Show Profile   Bookmark this reply Add Fugio to your friends list Get a Link to this Reply
MY motivation for saving 95% Cu cents is that they have actual intrinsic value. If we become the Weimar Republic II, and hyper-inflation occurs (or some other catastrophic event), copper coins may be worth more than a wheelbarrow full of worthless Federal Reserve notes. Gold coins and silver bullion are excellent for major wealth preservation, but what if you need a loaf of bread, potable water or medicine? Some liquor or tobacco? A shirt? If the feces hits the fan, you may be trading that $20 Double Eagle for a tank full of gas and six cans of beanie-weenies. Copper cents will have actual value, and may be a nice augmentation for smaller purchases and barter.
That being said, (and no, I don't wear aluminum foil hats) I also like to search rolls for these reasons:

1.It's fun! I do $25-50 in cents /week. Treasure hunting @ home.
2.I have several cent folders that I upgrade with every box of cents.
3.I search for errors, varieties
4.I save AU/UNC cents and roll by date and type.
5.The Lincoln Memorial series is already obsolete; the general public will figure this out soon enough and they will disappear quickly.
6.Who knows, copper value may skyrocket in the future

So, to answer the original question of this thread, I don't think hoarding Cu cents will reap windfall profits, but I look at them as a nice hedge in uncertain times.
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