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 Replies: 23 / Views: 3,361 |
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Pillar of the Community
United States
543 Posts |
Hoarding copper cents will not get you rich at this day in age. It could make you a little money on the side yes. It can be a fun hobby and to also save up since copper may be worth even more in the future. But for every copper cent you have aside you are profiting from the government. It is one cent, but when you have it set aside, it is 2.8 cents, thus for every one you set aside and save, you profit 1.8 cents because you are keeping them from the government from seizing them and making the 1.8 cents itself.
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Pillar of the Community
United States
609 Posts |
I like the way you think. I've got like 17 pounds right now, and plan on adding to it. Free money is free money.
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Bedrock of the Community
Australia
21786 Posts |
Hoarding copper cents is a slowcoach low cost way way to make a profit. With low cost, why not? but,
Lots of folks in the CCF are faster than that with silver.
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Valued Member
United States
81 Posts |
I like that thought. I have 20,000 of them now and save every one I find. Some day, Some day!
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Pillar of the Community
United States
3345 Posts |
Yes, you can pass these on to your chillen or granchillen and they will profit!!
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New Member
United States
13 Posts |
Gold is great for major wealth preservation. Silver is a nice tender for tough times as a mediun-value transaction vehicle. Copper cents would be very flexible for small purchases in a TEOTWAWKI scenario. Need bullets, bandages, beans or beer? Your gold coins will be great for mass purchases, the silver for large purchases, but the copper cents will be good for small acquisitions. Also, they would be great for change with the gold or silver holder. Plus, if we get to the point that we are trading coins for their intrinsic value, melting ban laws will be universally null & void by default. This may be the only positive side to the Federal Reserve devaluing our money! Hoard hoarders, hoard!
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Valued Member
United States
184 Posts |
haha I just wrote on another post if we really should hoard copper. But you make a good point. First question is how do you store you copper? Just through it in a like a huge jar or what?
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Pillar of the Community
United States
1450 Posts |
My hoard is over $1000 all rolled and boxed in $25 face-value boxes. I just stack them against the wall 6 high,10 wide in the garage under a tarp. Works out well for me.
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Valued Member
United States
184 Posts |
that is all from you just searching everyday boxes and your regular change hockingzig?
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Pillar of the Community
United States
1450 Posts |
That's about 1.5 boxes a week for 5 years. I used to get better than 30% copper now it's about 18%. I hardly see any wheats any more but over that same time period I have gotten 42 rolls of wheat pennies,2 rolls of pre-1940 and a full roll of 1943 steels.
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Pillar of the Community
United States
687 Posts |
I understand the logic of hoarding copper, I just don't agree that the value will ever be worth the trouble. Silver and gold are completely different animals so I think the comparison is a poor one. If it ever goes Mad Max out here due to economic collapse, war, zombie apocalypse, etc I don't think copper will be portable enough to hide from people with bigger guns than you or from nosy government agents if they want to get at it. The time to make money is now - if you can buy copper cents for face, then sell them for 1.5 tunes face to speculators and convert that paper money into gold or silver, I think your return will be higher in the long run than if you just held on to the pennies.
I still have a small ~$30 face hoard myself that's left over from searching cents. Never hurts to play both sides of the fence :)
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Valued Member
United States
184 Posts |
I like your reasoning rollhunter. I guess if I come across them i'll just keep them.
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Pillar of the Community
United States
3402 Posts |
The copper bullion value is today about 2.86 cents. But that is not presently what you will receive. You can hold on to it for a while and see if the buy prices come up. Your other option is to sell them on ebay where they are fetching 1.5 cents per (1959-81/82). KK |
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Pillar of the Community
United States
609 Posts |
Quote:
how do you store you copper? I store mine in 50cal ammo boxes. I've only got like $20 face value in there so you can guess how much it holds. They're really sturdy, airtight, and waterproof.    |
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Pillar of the Community
United States
4541 Posts |
i keep all mine. no need to toss em out
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Valued Member
United States
447 Posts |
As they say... A Penny Saved, Is A Penny Earned. I save mine and sell 'em on ebay.  |
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Replies: 23 / Views: 3,361 |
Posted 07/22/2011 10:41 pm
