| T O P I C R E V I E W |
| derrickvanderwall |
Posted - 08/31/2008 : 20:26:47
I was thinking I was going to post a standard set of rules for hoarding copper pennies. (Later I might add something with nickels). This is to help some newer people coming to this forum that might be wondering what exactly they should look for. It's a start in 'standardizing' the hoarding business. Please sticky if you like this thread.
Pennies 101
A little information/history is always good before starting the hobby
http://en.wikipedia.org/wiki/Cent_(United_States_coin)
Risk of hoarding: Please note that say if you're hoarding pennies hobby doesn't work out, you can always return your investment back to how much you put in. The only thing you lost was time, not that bad of a bet?
Pennies: Most common to least common.
Zinc - These are pennies made 1982 to present. You do not want to keep these for there metal content as the face value is worth more than the metal content probably will ever be. use these to exchange for more unsearched rolls/more money for more rolls.
Copper - These are 1959 to 1981, some copper pennies are 1982. You want to keep copper pennies. Copper pennies have more metal content value than there face value but are still regularly in circulation. As of right now they are worth about 2.3 pennies for every 1 copper penny BUT most people only buy copper pennies between 1.5-1.9 per, This is one way to sell your hoard. Although at this time it is 'illegal' to deface money, you can store your hoard away until more legal actions let us do so.
Wheat Pennies - These are pennies between the years 1909 to 1958. These pennies are made of copper but they are worth more as a collectors item. Do not melt these down. If you save up enough you can get more as a collectors item than it's melt value.
http://en.wikipedia.org/wiki/Wheat_Pennies
Indian Head - These are pennies between 1859 to 1909. These are rarely found in penny rolls. If you find one of these keep them, similar situation with the wheat pennies, do not melt these down, as there collectors value is worth more than the melt value.
http://en.wikipedia.org/wiki/Indian_head_cent
1943 Copper Penny - This is 1943 only. These are very rare, even rarer than Indian Heads. These are often missed in piles as just regular wheat pennies. A mint condition of these sold for 200,000$ a while back. If you find one of these, chances are it could be fake.
http://en.wikipedia.org/wiki/1943_copper_cent#1943_copper_cent
Note: You may find other types pennies in your rolls, but most likely these will be the 5 types you will see 99.99% of the time.
For coin calculators to determine your copper penny hoard with current copper prices, go to
http://www.coinflation.com/coins/basemetal_coin_calculator.html
For current and past copper prices, I preferably use this site:
http://www.kitcometals.com/charts/copper.html
For the best copper/zinc coin sorter on the market right now, go to:
http://www.ryedalecoin.com
If you have any questions or would like to add something to the list,(I know I missed a thing or two) please feel free to either ask me or ask the admins/mods.
I tried my best, if it fails it fails, just lost a few minutes.
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| 25 L A T E S T R E P L I E S (Newest First) |
| STRACH |
Posted - 10/20/2009 : 16:32:59
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| Ponce |
Posted - 05/30/2009 : 23:38:06
Hell if I know what the heck I mean, to me 0.08 means 0 dollar and eight cents......but what do I know, I am just a dumb Cuban refugee with a 10th grade education who likes to make money hahahahahahahah.
I'd rather be dumb and have money than to have a PhD and be broke.............Ponce
PS: No offence to those with a PhD but we have different goals in life......and yes, I do have a 128 IQ......if that means anything. |
| beercritic |
Posted - 05/30/2009 : 20:30:02
quote:
Originally posted by Ponce
It cost 0.07 cents to print a $100.00 bill and 0.08 cents to make and distributed a NICKEL, that's also counting the value of the metal.
"If you don't hold it, you don't own it"...Ponce
Of course, you mean .07 and .08 **dollars,** right? |
| Ardent Listener |
Posted - 05/29/2009 : 08:37:58
We are always happy to hear from you Ponce and are always thinking of ways to lure you back. |
| Ponce |
Posted - 05/29/2009 : 08:08:58
In that case someone is pretending to be you because they missed me and wanted me back hahahahahahahah, below is part of what was sent to my personal email.
==============================================================================
This message was sent from http://realcent.forumco.com. This is a warning to inform you that your account may be deleted from our system due to inactivity. Should you wish to keep your account active, all you need to do is visit our site at: http://realcent.forumco.com/ If you would like your account to be removed from our system no action is necessary. Thank You. http://realcent.forumco.com
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| jadedragon |
Posted - 05/29/2009 : 03:06:17
Nope we don't delete people with a lot of posts, or anyone that just logs in occasionally. We do delete people who never log in for months and have never posted. Welcome back and congrats on getting family into the states. |
| Ponce |
Posted - 05/28/2009 : 19:55:56
Well, first of all thanks for missing "God Ponce" hahahahahahahahah.......and second of all my brother with his wife and two kids just made it here from Cuba so that now I am bussy teaching them how everything works.
And, here is the good one, one of your big cheesses sent me a email telling me to either post again or they were going to kick me out...........uffffffffffffff after being kicked out of more than 20 sites I don't need another one JUAAAAAAAAAAAAAAAAAAAAAAAAA.
Love you guys and thanks for your kind words..... |
| NotABigDeal |
Posted - 05/28/2009 : 17:15:47
Ponce, been awhile huh? You back or what?
Deal |
| Ryedale |
Posted - 05/28/2009 : 12:35:06
WOW.... a Ponce sighting.
Welcome again friend, glad you stopped by.
Ryedale
GET YOUR DRI-SLIDE FROM IRONBRAID
http://www.ironbraid.com/driside.html
Used with permission from Ironbraid. |
| Ponce |
Posted - 05/28/2009 : 09:25:13
In the news......the government is now hoarding their own coins in order to be ready for what is to come.
Like I keep saying........like in Germany and Rhodesia all coins will be more valuable than paper fiat.
It cost 0.07 cents to print a $100.00 bill and 0.08 cents to make and distributed a NICKEL, that's also counting the value of the metal.
So that the actual value of a brick of nickels is of 2,000X8=$160.00 vs 0.07 for a $100.00 fiat bill........this example of mine was also posted at two more sites.
Hold a $100.00 bill in your left hand and a brick of nickels in your right, which one feels more real? hehehehehehheeheheh.
"If you don't hold it, you don't own it"...Ponce |
| Musenge |
Posted - 05/08/2009 : 10:10:42
quote:
Originally posted by Mikep2020
quote:
Originally posted by Musenge
Can should keep my $100 colombian pesos coins? 92% Cu? Should I?
100 peso coins weight 5.31 grams, and the conversion to US dollars is around 4.5 cents currently, so right now they are worth more as money than as metal. The metal value is approx. 2.5 cents or around 55% of of the face value, very close to our nickel melt value here in the US. Might be worth holding onto some of these coins, but probably not worth hoarding in large amounts right now. Just watch the copper prices.
Thanks a lot sir, better i hoard more coins, then broke my plastic water bottle of 18.5 gallons, and with the money i'll buy silver or somethin' He he ehehe Thanks really. |
| Mikep2020 |
Posted - 05/08/2009 : 07:23:31
quote:
Originally posted by Musenge
Can should keep my $100 colombian pesos coins? 92% Cu? Should I?
100 peso coins weight 5.31 grams, and the conversion to US dollars is around 4.5 cents currently, so right now they are worth more as money than as metal. The metal value is approx. 2.5 cents or around 55% of of the face value, very close to our nickel melt value here in the US. Might be worth holding onto some of these coins, but probably not worth hoarding in large amounts right now. Just watch the copper prices. |
| Musenge |
Posted - 05/07/2009 : 23:44:32
Can should keep my $100 colombian pesos coins? 92% Cu? Should I? |
| Kurr |
Posted - 01/30/2009 : 12:37:54
After the discontinuation of the memorial cent last year, there will be a demand for any and all higher graded memorials, and that demand will drive prices to a much better profit than you would ever get from melting them. A digital scale is waaay faster than hand sorting. A rydale is worth it. Period. The time saved over hand searching justifies it alone. To me they are for serious collectors more than quick return investors.
Those looking to profit from the markets should buy cheap bags on ebay and resell, so they don't get disappointed when the market drops, and their expectations are ruined. Running copper is work, but a labor of love to those who understand. |
| aaron239 |
Posted - 01/30/2009 : 11:40:32
You can get a fairly good deal on Ebay for a Ryedale if your patient. I just got a nice digital gram scale that is really fancy for $25 shipped new the other day. Using a scale would be even faster than hand sorting I imagine. It is currently illegal to melt pennies down. Just like the silver melt ban at one time, I would think it will adventually be lifted when they feel like there are enough non-copper pennies floating around out there.
Once you get a Ryedale though, you will catch a bug that will hook you to sorting pennies. Everyday you will be trying to 'scheme' a new way to get and dump more pennies every week. |
| Greg Kaler |
Posted - 01/30/2009 : 11:17:02
(First post) I am trying to make sense whether or not it is worth the time and effort to save copper pennies. It takes so much time to go thru them by hand. I have went thru 18,500 so far, and have 5,231 copper. If each was going for 2 cents, it would take 25,000 to equal what if costs for a $500 Rydale- just to break even. Thinking that copper pennies will be much higher than 2 cents each someday might justify it. What is copper projected to go for in the future? Does someone have a used Ryedale they'd sell me? -there's probably no such thing. Does anyone know where to buy a digital scale/how much they cost?
What are the opinions if and when it will be legal to melt the pennies? Any help would be much appreciated. Thanks- |
| Red_Blade |
Posted - 10/12/2008 : 11:28:44
There was a short period of time last year when the zinc cost made the post-1982 penny >1c.
I save those as well - US Pennies are the purest, so depositing ANY US penny is kind of dumb.
Just like saving gold & silver - you don't want to sell those unless you have to, right?
Pure nickel (found in certain Canadian nickels), pure copper (<1982 US pennies), and pure zinc (>1982 US Pennies) are metals as well and all worthy of hoarding for their purity. |
| jadedragon |
Posted - 10/11/2008 : 20:07:35
quote:
Originally posted by ceddy2
One other risk of hoarding is that the purchasing power of the hoarded coins diminishes in inflationary times. $5,000 worth of copper pennies placed on a pallet in the garage in 1980 (when there was nothing but copper pennies) will buy a lot less (at face value) in 2008. A second risk is the lost opportunity costs: $5,000 invested might have a higher rate of return that while it's tied up in pennies sitting on that pallet.
This is a true statement for the time period. However I started coins in Feb 08. If I invested the money now tied up at face value in my coin collection in the stock market instead over the last several months, I would be way behind.
In times of financial stress, cash is king. So my solution is diversification - some in copper pennies/nickel nickels, some in silver, some in the market, some in real estate etc. The market is great when the market is great, but cash is great when the market is really bad.
If base metals soar, then my coins will really go up in value. If base metals tank (the current situation) along with the rest of the market, I can always cash in coins at the bank and go pick up some bargian assets with the money. I see this as pretty much a no lose deal. |
| Steiner |
Posted - 09/08/2008 : 22:40:18
quote:
Originally posted by ceddy2
One other risk of hoarding is that the purchasing power of the hoarded coins diminishes in inflationary times. $5,000 worth of copper pennies placed on a pallet in the garage in 1980 (when there was nothing but copper pennies) will buy a lot less (at face value) in 2008. A second risk is the lost opportunity costs: $5,000 invested might have a higher rate of return that while it's tied up in pennies sitting on that pallet.
Good points. Ones does need an exit strategy in almost any hobby. Especially those that revolves around bullion and money.
Steiner |
| ceddy2 |
Posted - 09/08/2008 : 21:24:40
One other risk of hoarding is that the purchasing power of the hoarded coins diminishes in inflationary times. $5,000 worth of copper pennies placed on a pallet in the garage in 1980 (when there was nothing but copper pennies) will buy a lot less (at face value) in 2008. A second risk is the lost opportunity costs: $5,000 invested might have a higher rate of return that while it's tied up in pennies sitting on that pallet. |
| Centsearcher |
Posted - 09/01/2008 : 21:24:01
Great post! I would just add that canadian cents before 1997 are 98% copper, and should also be kept. If you want to go into further detail, those canadians before 1980 are slightly hevier than those from 1981-1996, and therefore have more copper content. Overall very informative for new members! |
| moboman |
Posted - 09/01/2008 : 18:15:55
what about foreign coins? Gaming tokens? buttons, rocks, plastic pennies, dimes? I've found all of these in penny rolls. |
| HoardCopperByTheTon |
Posted - 09/01/2008 : 15:50:45
quote:
Originally posted by Kurr
Could replace the 1943 copper with the 1909 S VDB.
I did find one of those! It was in XF. Doesn't count as a circulation find though.. it was in a little group of wheat pennies I paid 3 cents each for.  |
| Kurr |
Posted - 09/01/2008 : 15:05:47
Could replace the 1943 copper with the 1909 S VDB. |
| HoardCopperByTheTon |
Posted - 09/01/2008 : 12:59:58
Sure, I found one of the 1943 Copper cents. Unfortunately it sticks to a magnet. |
