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 Replies: 12 / Views: 1,623 |
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Pillar of the Community
United States
3345 Posts |
I was wondering, do you think that the copper cent hoarders are taking out copper cents faster than people are dumping them or not? I know there will be coppers in circ for a while because they made billions of them. But eventually we will have hoarded a lot, and we will start to see trends of less and less copper cents,(depending on the future of copper prices) although I know it is very common to keep pennies in a jar for decades or never trade in your change jars. These people will be the ones dumping in the years to come.
But what do you dudes think? Are we hoarding as fast as others are dumping?
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Pillar of the Community
United States
1450 Posts |
I have seen a significant drop in roll searching in just the last 6-8 months. Used to be I got 26-28% copper out of every box I searched. Lately it is more like 18-20%. I think in another 4 or 5 years you will see those percentages cut in half and wheat cents will be almost gone completely from circulation.
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Valued Member
United States
302 Posts |
As long as the melt value is higher than the face value, the hoarders will outnumber the dumpers.
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Valued Member
United States
257 Posts |
That's fine....
The hoarder will die off leaving the heirs to dump his hoard at the bank...
The cycle continues...
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Pillar of the Community
United States
1450 Posts |
Not me,I plan on selling my hoard for at least 2x face,if I live long enough,maybe 3x!
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Valued Member
United States
228 Posts |
Most people are still not onto the idea of hoarding 82 and earlier cents. Most of my friends and relatives think I am a bit eccentric for doing so. That means the big push, (IMO) to hoard coppers has not yet begun. It will begin in earnest just before it becomes legal to melt them. Because it so expensive to make cents (1.79 cents to make one cent) the last figure I read, it will not be long before the Lincoln Cent is nothing but a memory!  |
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Valued Member
United States
257 Posts |
LastGold- it doesn't take anywhere close to 1c to make the zincolns....
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Pillar of the Community
United States
543 Posts |
LastGold is right, it costs more than a penny to make the Zincolns. However, the metal value of a Zincoln, however, does not exceed face. Roughly .006 right now.
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Valued Member
United States
228 Posts |
wpd7: You are incorrect. It does in fact cost more than one cent to make a zinc Lincoln Cent. However, since I am not particularly interested in convincing you of anything, I am not going to do the research necessary to find the last price estimate I read (about 1.79 cents as I recall).. You can do the research yourself (or not) - I couldn't care less. Best, LastGold |
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Pillar of the Community
United States
648 Posts |
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Pillar of the Community
United States
2168 Posts |
To be honest any coin is real money, esp nickels and pre 1982 pennies. Those are worth more than face currently. I am keeping any change now since all has some intrinsic value. The paper money is just that-paper and worthless if our currency collapses. Just my thoughts.
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Pillar of the Community
United States
2168 Posts |
Also, I've been searching the nickels and found quite a few buffalo, silver and just older ones. Filling collector books
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Pillar of the Community
United States
3592 Posts |
Quote:Because it so expensive to make cents (1.79 cents to make one cent) the last figure I read, it will not be long before the Lincoln Cent is nothing but a memory! Actually, the cost of making a cent has little to do with it, it is used for the exchange of value and it's lifetime is what really counts. If we based things on cost, they would make only hundred dollar bills  And I am a copper hoarder for the record. |
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Replies: 12 / Views: 1,623 |
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Posted 07/16/2011 6:39 pm
