| T O P I C R E V I E W |
| topeka |
Posted - 04/30/2008 : 16:57:53
I think it is only a matter of time before the media starts describing penny/nickel hoarders as toothless hoosiers (no offence to those from the great state of Indiana).
Poll Question:
I believe the average penny hoarder on this site is ____ |
| 25 L A T E S T R E P L I E S (Newest First) |
| barrytrot |
Posted - 08/21/2009 : 16:15:35
quote:
Originally posted by JobIII
well put. But I still think that the most intelligent individuals would see this as a waste of time. Sure it's an investment, but there are other easier ways to invest. People are buying at 1.5 because they don't want to spend the time and trouble doing so. What's the difference between buying copper now at 1.4 or 1.6 and selling it at 2 to 3 x fv. That 0.5 isn't so big now.
I challenge you to name a better investment over the last 10 years!
Real estate: No
Stocks: No
Other precious metals: Possibly but I consider that a sister investment and not a competing one.
Also, the long term benefit of copper is in a hedge against inflation. Right now a cent is essentially still trivial. But check out the 100 trillion dollar notes they are making in Zimbabwe and you will see there is a lot to be gained from hoarding PRECIOUS METALS!
By the way, get yourself a couple 100 trillion dollar notes they make a great conversation piece that can lead you into preaching about the merits of hoarding :) |
| barrytrot |
Posted - 08/21/2009 : 16:10:19
quote:
Originally posted by JobIII
Look if everyone on this site was rocking above average intelligence, they would have a job that paid enough to allow them to just purchase what they needed without doing all the grunt work. But what do I know and what is average anyway. Compared to other US citizen's, the entire world, or just the industrialized nations, we may be or we may not be.
I disagree with this statement.
This is an entertaining hobby for me and others as well. Many people have a hobby and I think it is pretty nifty to have one that is also a hedge against inflation.
Also, there is a (generally) pretty active BST. People here do have jobs and many of them do purchase to add to their holdings.
Also as a final side note: Intelligence can be used to increase the ability to earn money but it can also be used for a variety of other pursuits. Using your skills/intelligence for non-monetary purposes can often be more rewarding. |
| slickeast |
Posted - 08/21/2009 : 15:54:14
Saving/Hoarding Coppers is just one of the things that I do involving coins. I search halves, buy and sell BU boxes, buy 90% and silver and gold bullion.
You can't be narrow minded and only deal in one part of the coin world. Plus with the system I have I come out ahead every time. I dump and pickup on the same day..unless I am moving very large quantities that week.
If you are driving to the bank for 1 box of pennies and it yields 25% copper you have $6.25 in copper. That is worth 6.25 x 1.35 = 8.44. A $2.20 gain is not worth the time.
But if you get $1500.00 and have a 25% yield you have 375 in coppers. That is 375 x 1.35 = 506.25 or a 131.25 gain. I can pick this amount up, run them through the Ryedales and dump them in about a 5 hour period. So that equals 26.25/hr. I could also do this 5 days a week if I wanted to, I have the resources. But can I sell that many a week...probably not. But that is still a theoretical week profit of 656.25. Well worth the time.
Now this is by no means a way to make a living. The payout will be in the future when copper is $10/lb and/or when the melt ban is lifted.
So that makes it worth my time. I also think that $100fv for $145 SHIPPED is a fair price. |
| JobIII |
Posted - 08/21/2009 : 14:44:09
well put. But I still think that the most intelligent individuals would see this as a waste of time. Sure it's an investment, but there are other easier ways to invest. People are buying at 1.5 because they don't want to spend the time and trouble doing so. What's the difference between buying copper now at 1.4 or 1.6 and selling it at 2 to 3 x fv. That 0.5 isn't so big now. BTW we are not getting out coppers at face. We have to factor in the costs of time and money. bringing our ultimate gains ever closer to what someone would get by buying sorted cents. The only bonus is the rare and uncommon cents you'd find searching first hand. I still don't think this hobby is for the above average. But i'm not trying to insult anyone on this site. Plenty of normal people find a loop hole and make use of it.
|
| twocents |
Posted - 08/21/2009 : 14:01:22
Contrary to what you have stated, JobIII, you have to trust me that the intelligent become rich by working hard, being educated (traditionally or non-traditionally), and most often by pinching pennies or at least making sound financial decisions. There are plenty of rich people that are unable to stay rich or at least fail to become richer. There are also plenty of smart people who never accumulate wealth. No smart, wealthy person who actually earned his or her money would ever buy a copper cent for 1.5 X face when they could have it at face value. So it is not about having a job that pays enough to buy copper, it is about taking advantage of an opportunity for arbitrage, whether your income is 4, 5, or 6-figures.
So I vote for above average. We are all just people working to play an angle to our advantage and hopefully having some fun while we do it. |
| slickeast |
Posted - 08/21/2009 : 13:01:42
quote:
Originally posted by fb101
Just curious. Does average know how to tie shoelaces or not?
VELCRO is the the way to go. |
| Neckro |
Posted - 08/21/2009 : 12:50:54
Haha, propping yourselves up. |
| JobIII |
Posted - 08/21/2009 : 12:43:12
Look if everyone on this site was rocking above average intelligence, they would have a job that paid enough to allow them to just purchase what they needed without doing all the grunt work. But what do I know and what is average anyway. Compared to other US citizen's, the entire world, or just the industrialized nations, we may be or we may not be. |
| TenBears |
Posted - 05/23/2008 : 10:44:46
quote:
Originally posted by knibloe
I thought we were a pretty bright bunch of people until that Irrational Thinkers thread was started.
Just found this. Glad you weren't dissing the Rational Thinkers Only Club. All the really smart, and still rational, hang out there.  |
| Ryedale |
Posted - 05/23/2008 : 09:56:41
quote:
Originally posted by eharrison
quote:
Originally posted by Loophole29
quote:
Originally posted by fb101
Just curious. Does average know how to tie shoelaces or not?
What are shoelaces?
Those things you use to keep your teeth clean. 
That would be Tooth in my case |
| n/a |
Posted - 05/23/2008 : 09:46:54
well i know my fellow ron paul supporters on this site are genius  |
| the_cent_guy |
Posted - 05/22/2008 : 22:24:38
It should be "dumb as a box of pennies" |
| eharrison |
Posted - 05/22/2008 : 22:13:11
quote:
Originally posted by Loophole29
quote:
Originally posted by fb101
Just curious. Does average know how to tie shoelaces or not?
What are shoelaces?
Those things you use to keep your teeth clean. |
| Loophole29 |
Posted - 05/22/2008 : 21:48:25
quote:
Originally posted by fb101
Just curious. Does average know how to tie shoelaces or not?
What are shoelaces? |
| fb101 |
Posted - 05/22/2008 : 21:16:54
Just curious. Does average know how to tie shoelaces or not? |
| horgad |
Posted - 05/19/2008 : 08:22:20
I use to think I was bright until I started to spend so much time working on my penny hoard. Now I am not so sure. |
| knibloe |
Posted - 05/19/2008 : 05:46:46
I thought we were a pretty bright bunch of people until that Irrational Thinkers thread was started. |
| Nickelless |
Posted - 05/19/2008 : 04:39:33
quote:
Originally posted by topeka
I think it is only a matter of time before the media starts describing penny/nickel hoarders as toothless hoosiers (no offence to those from the great state of Indiana).
I'm a native Hoosier and now live in Kentucky (albeit just a few miles from the Indiana border) so let the jokes fly like coppers through a Ryedale. |
| norcal |
Posted - 05/19/2008 : 00:48:01
You dont gotta be a genius to know that selling a penny for 2 cents is a good thing.
Or do ya? |
| HoardCopperByTheTon |
Posted - 05/19/2008 : 00:09:01
I think it used to be higher.. but I have seen sporadic evidence with some latecomers who finally are starting to see the light that the average is sliding somewhat. When Joe Six-pack starts hoarding coppers we will be back down to average. |
| moboman |
Posted - 05/18/2008 : 23:56:59
quote:
Originally posted by texcattlerancher
Ya doesn't has suppergeenious in tha pole. So, I isn't gonna vot.
I voted borderline genius.
You know most people with insanely high IQ's seem weird to the rest of us? Well we (penny hoarders) seem weird to everyone else, so we must be supergeniuses! |
| Kurr |
Posted - 05/18/2008 : 22:12:19
i said above average too, but honestly if i dropped off ya'lls average would probably be a bit higher! |
| Cody8404 |
Posted - 05/18/2008 : 17:21:41
I doubt the folks here could be called sheeple or lemmings. We can see the edge of the cliff and reallt don't want to run off it. |
| Centsearcher |
Posted - 05/01/2008 : 14:01:44
people who realize that we need "real" money in the US are hard to find now-a-days, so I voted above average. |
| nckt |
Posted - 04/30/2008 : 19:27:47
well i don't think stupid people are going to care about sorting pennies so i put above average intelligence. |
