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Fair Value Of A Common Pre-1982 Brass Penny ; 1.25 Cents?

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Pillar of the Community
United States
958 Posts
 Posted 12/04/2010  10:03 pm  Show Profile   Bookmark this reply Add coppertop5150 to your friends list Get a Link to this Reply
1.I dumped mine becuase I could by copper blocks for $1.00 a lb why save copper cents when it cost $1.50 a lb for copper?
2.At 1.00 a lb no one would pay above face for them
3.I can do it agian anytime I want when copper is $4 a lb like it is now I can get it from circulation at $1.50 in coins any time any where.
4 I WAS NOT AWARE PEOPLE WERE PAYING ABOVE FACE ON ebay FOR COPPER CENTS at 4$ a lb or I might have saved them
MOTIVES
1 is to make people relize copper/silver/gold values fluctuate and hoarding COPPER is not a IMMEDIATE payoff and MAY NEVER BE.
Buying and selling for above face is great nothing agianst its called reselling and has nothing to do with hoarding.Hoarders that never take a profit but keep hoarding seems unlogical based on the laws of copper coins
2 so you hoard and hoard ? when it is illegal to do anything reguard to melting cents
3 When and who do you sell this hoard to and for how much , being most hoarders never sell but end up dying with hoarded stuff, cars,coins,what they think is art .they end up dying and the children come in and sell it to get ride of it.also consider the melt ban may never lift and that they might die with this hoard if the dont sell it.

So my complaint is not about pulling them from circulation , its hoarding them at this time paying above face for copper ,
They should be selling them like you are to others that are to lazy to pull them themsleves
Pillar of the Community
United States
958 Posts
 Posted 12/04/2010  10:15 pm  Show Profile   Bookmark this reply Add coppertop5150 to your friends list Get a Link to this Reply
also this 50% return on your money can fall over night to 0% doing alot of work and not making anything if copper falls.
BUT you only lost your labor and time.

If your retired and LIKE TO DO IT , then go for it
Im just saying someone retired could stand at the Wal-mart front door one day a week and greet customers
and make as much in one 8$ hour shift $64

It would take someone sorting a 60,000 to 80,000 cents to get 20,000 copper cents and selling them at
at 1.25-1.50 to make the same amount of money 64$,
then the hassel of getting more cents, getting rid of the old ones, gas driving around , gas to mail um and what ever cost.

I dont want to sound like " its all about the money "
But for me it just is not enough money for my time. But like I said in another thread if someone wants to do it more power to them.
I just think at this time the time/profit/ratio is not high enough for it to be worth the time invested.
If copper was 8$ a lb and you were getting 3-4 cents per coin . Then I think the time/profit ratio would be worth it
Pillar of the Community
fenton's Avatar
United States
4989 Posts
 Posted 12/04/2010  10:24 pm  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
I kind of wish I had a Great Great Grandfather who horded copper in the 1800's. Would be nice to find a few hundred boxes in an attic :) BOONDOGGLE
Pillar of the Community
stewart's Avatar
United States
1126 Posts
 Posted 12/04/2010  10:53 pm  Show Profile   Bookmark this reply Add stewart to your friends list Get a Link to this Reply
Well after JP Morgan's recent maneuver to set up an
exchange-traded fund in Copper so they can Manipulate
the Copper Market Like they have the Gold and Silver markets
for years there is no telling where Copper prices are going to
be going in the future.

Link to Story

http://www.telegraph.co.uk/finance/...-on-LME.html
Edited by stewart
12/04/2010 10:55 pm
Pillar of the Community
United States
958 Posts
 Posted 12/04/2010  11:10 pm  Show Profile   Bookmark this reply Add coppertop5150 to your friends list Get a Link to this Reply
Yikes stwearts,
All the big banks has the " bsat"
bank secured asset trust , they were securities back with realestate mortgages that flopped

If this is true banks are gonna do this, this is another run up instead of mortages backed securities
it will be metal backed securities

OH boy another bubble to burst
But why should the banks care they take the investors money pay out a lil in the first few years as the metal goes up
the ceo's vp's walk with billions in bonuses and the investor the shaft
when it falls down
Valued Member
bryan1234's Avatar
United States
463 Posts
 Posted 12/04/2010  11:11 pm  Show Profile   Bookmark this reply Add bryan1234 to your friends list Get a Link to this Reply
obv its a bad move too buy copper pennies above face right now as you can still get them easily at face. When people use to save silver coins, some would say why and now look. Not saying copper can go much higher but you never know but still I would never buy above face as stated above
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