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Replies: 34 / Views: 5,986 |
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Valued Member
United States
442 Posts |
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Moderator
 United States
56855 Posts |
I was saving them but when I tried to sell/auction them here on CCF I had no takers so I had to dump $800 to several banks.Now I no longer save them. John1 
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Valued Member
United States
277 Posts |
I am saving them. I think sometime in the next twenty years copper will be what silver is now. If I am wrong it won't cost me but about 6 to 10 dollars in interest I would have made on that money sitting in a saving account
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Valued Member
United States
134 Posts |
I started saving them and sorting bunch
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Pillar of the Community
United States
2271 Posts |
Tough question.
The zincs evaporate almost as fast as they're minted since the metal oxidizes on contact with commerce but cents don't actually circulate anyway since they're worth less than nothing at all.
I'd guess that the redemption of coppers will start approaching less than 5% within a couple years and then their incidence will fall off fast. Figure they're 20% now, 15% in a year, 10% in two years and then they'll settle out around 5% until sanity scraps all the pennies out for proper disposal.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
1388 Posts |
I only like to keep the Mint State coppers  , I tried saving them for awhile but when I started getting around $500 face value it started taking up a bit too much space... I think I will stick with silver 
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Valued Member
United States
447 Posts |
I save them up til I get $50.00 face then sell 'em on ebay. 
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Valued Member
United States
320 Posts |
I don't sort through boxes and boxes like many here do, so if I see it in my change, I keep it. I have one of those 1980's crayon banks and just throw it in there. If it ever got full I might think of doing something else. Not even close right now and with the diminishing amount of real copper in circulation I don't know that it ever will be.
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Pillar of the Community
United States
3276 Posts |
i voted I am not. I am saving them but selling them for profit right now. there is no way I will save them long term. it would take soooooo many to make a substantial gain in the future. storing them and keeping them would be a hassle and not worth it to me. but I search lincoln boxes and just set aside coppers to sell. works for me.
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Bedrock of the Community
United States
19948 Posts |
Quote: I was saving them but when I tried to sell/auction them here on CCF I had no takers so I had to dump $800 to several banks.Now I no longer save them.
Ahhh....on CC most of your potential buyers are already saving them for themselves. LOL You gotta list copper cents on ebay.
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Pillar of the Community
United Kingdom
2874 Posts |
I don't know how much scrap metal goes for in the US but here in the UK it's £4 a kilo. I took an old copper hot water tank to the scrap merchants on Friday (I'm lucky in that there is one close by) and got £62 for it -- it was 15.5 kilos - they don't really want to bother with little amounts though. By my calculations that means £1,000 of pennies and 2p's is worth £1,480. But that means a lot of gathering up.
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Pillar of the Community
United States
2661 Posts |
I have better things to do than sit and sort boxes of cents on the weekend or paying $500 for a machine to do it when the melt ban may never be lifted. I may be missing the boat on this one, but remember this, boats sink.
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Pillar of the Community
United States
632 Posts |
If silver coins were still more than 1% circulation (i have no idea what the % is, just a guess...), I would be searching for silver. I just dont have the patients to go through 5 boxes without finding 1 silver coin. So since copper is at about 20-25%, that is what I pull from circulation and save.:)
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Valued Member
 United States
442 Posts |
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Pillar of the Community
United States
1450 Posts |
Tell him,"best of luck in that endeavor". Also tell him to stay safe,they are all in my prayers!
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Valued Member
 United States
442 Posts |
Thanks Hockingzig for your kind gesture let the lord be with them .
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Replies: 34 / Views: 5,986 |