| T O P I C R E V I E W |
| Mikep2020 |
Posted - 07/24/2009 : 11:21:01
I might have an oppertunity to purchase a hoard of pennies from someone who's collected them for the past several decades. The hoard is contained in two 5 gallon water jugs filled to the brim. I don't know the exact weight of the penny filled jugs, because the guy can't even lift them up to put them on a scale.
If it takes 146 copper pennies to make a pound and 181 zinc pennies to make a pound, what would be a fair offer per pound without knowing the zinc/copper ratio in the jugs? I was thinking somewhere in the $1.60/lb range, But might be willing to go up to $1.70/lb What would you offer?
I won't have the oppertunity to inspect them or weight the jugs until I send the guy a price per pound offer, apparently he's fielding offers from several folks. I didn't get any other information other than the jugs contain only pennies, no other change and no mention of any wheats included in the hoard, but i'm assuming there will be "some" wheats in there. Thoughts? |
| 25 L A T E S T R E P L I E S (Newest First) |
| JobIII |
Posted - 09/09/2009 : 10:16:09
I have a friend that just showed me a picture of 2 5 gallon jugs both about 80-85% full, and a large tubular container also filled to the height of the 5gal water jugs. I think I'll offer $500 outright and see if they'll sell them.
I was also considering returning the pennies for them, and just ask for a small fee for my services. Which may or may not equal the coppers removed from the hoard.
If i get them i'll post here.
~ JobIII |
| fasteddy |
Posted - 09/09/2009 : 09:43:15
Highroller,
No sale on the IH...they were my Dad's and he died a long time ago so I am sure ya'll understand someone else will have to sell them after I am gone. My IH's survived my sale of everything else when my wife was trying to survive cancer treatment....I sold all my silver coins when silver was 6.00 oz, mint sets, proof sets, I did do well on my gold coins but no were near as well as if I sold them today. I am trying to rebuild but it costs so much more now.
I started collecting wheats when I was little so they are on the bottom I don't rememeber how many maybe a bucket and a half....most are the memorial coppers.....every penny I got went into the bucket until the mint started making the zinc pennies. So that barrel has about forty years of pennie pickin in it.
I pulled a 1929 wheat out of my changed yesterday...I showed it to my wife but she couldn't read it even with her glasses on. Now that was exciting, I don't remember the last time I pulled a IH from my changed.
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| highroller4321 |
Posted - 09/05/2009 : 18:54:45
quote:
Originally posted by fasteddy
gee thanks fellas I feel at home here....;-)
Wow A half ton...no wonder I can't move the drum...I dont think the drum is rated for that much weight..thats why it looks a little deformed...
I remember when my first soda can bank got full then another and then another then a sm box, sm bucket, lg bucket then dumped it all in the drum eventually....I wished now that I had sorted the wheats out....but maybe someday.
funny I don't think of myself as a hoarder just a penny picker but I have been called worst so a penny hoarder works for me.
Still picking pennies and no plans on stoppin!
Welcome to the forum.
Do you save all pennies or just the cooper ones?
Are you interested in selling the Indian head collection? |
| fasteddy |
Posted - 09/04/2009 : 16:39:25
gee thanks fellas I feel at home here....;-)
Wow A half ton...no wonder I can't move the drum...I dont think the drum is rated for that much weight..thats why it looks a little deformed...
I remember when my first soda can bank got full then another and then another then a sm box, sm bucket, lg bucket then dumped it all in the drum eventually....I wished now that I had sorted the wheats out....but maybe someday.
funny I don't think of myself as a hoarder just a penny picker but I have been called worst so a penny hoarder works for me.
Still picking pennies and no plans on stoppin! |
| twocents |
Posted - 09/04/2009 : 13:55:48
Fasteddy,
I also ultimately plan to store them loose in a 55 gallon drum. I calculated that it will take 424,000 pennies, roughly, to fill the drum. Right now I am in NF Strings boxes weighed to 17.5 pounds, which should equate to about $25 face per box. I like the idea of the drum as it will be too heavy for anyone to quickly walk away with. If inclined to do so, someone could very quickly walk away with my boxed coins. Also, using a shovel and bucket to take them likewise would not be time effective for a thief.
Welcome to to forum. |
| JobIII |
Posted - 09/04/2009 : 12:11:08
Jade do you have a rolling machine, or a counting machine? Or are you doing all this by hand? |
| jadedragon |
Posted - 09/04/2009 : 02:39:40
I don't roll my copper pennies-store loose in bins. I do have to roll all the zinc and steel to dump it in Canada. |
| HoardCopperByTheTon |
Posted - 09/04/2009 : 00:56:50
Welcome to the forum fasteddy. You sound like a "true hoarder." You will fit right in here. You probably wouldn't want to roll all those pennies. The time and expense would generate no return. If at some point in the future you decide to sell some off then you would package them however the buyer wanted them. I estimate your current hoard at over half a ton!
Members here keep their hoards in many configurations.. whatever appeals most to them. I myself have them rolled, in boxes, in tubs, in barrels, in kitty litter pails, in standard bank bags and in the large bags the mint uses to ship out the pennies. There is no one "right" way to store your hoard.  |
| JobIII |
Posted - 09/03/2009 : 20:25:12
Fast post a pick of the barrel o'wheaties :) |
| fasteddy |
Posted - 09/03/2009 : 09:00:00
thanks for the info....I just found this site the other day. I like it. Some reasoning...my father collected Indian heads when he was a boy...so of course I followed but collected wheats and when the mint changed in '82 then the coppers...I do have his Indian heads in the house in tubes...If I remember right its about 80 tubes, my pennies are in my air conditioned garage in a 55 gal poly open head drum. I can't move it. So I am guessing in excess of 800 lbs. It is good I don't plan on moving soon.
still picking pennies after all these years. |
| Mikep2020 |
Posted - 09/03/2009 : 07:44:07
quote:
Originally posted by fasteddy
fellas I have a problem...I have been throwing my Cu pennies in a barrel in the garage..it is just over half full...do I need to roll those pennies...i see this picture of all those rolled Cu pennies. My collection is from the time I started keeping pennies when I was thirteen. About 34 years now.
I don't think that is a problem really, you can keep all your pennies loose and when you want to sell, you can do lots by the pound. I roll mine and put them back in Brinks boxes mostly for the ease of storage, the ability to move them around, or to sell by face value down the road. The only problem you may have down the road, is if/when you need to move the pennies somewhere else. Also, depending on the enviroment your storing the pennies in, you might get moisture and corrosion on them. |
| PennyPauper |
Posted - 09/02/2009 : 23:23:57
quote:
Originally posted by fasteddy
fellas I have a problem...I have been throwing my Cu pennies in a barrel in the garage..it is just over half full...do I need to roll those pennies...i see this picture of all those rolled Cu pennies. My collection is from the time I started keeping pennies when I was thirteen. About 34 years now.
That's not really a problem,just a blessing from your forethought.
Spend it just as wisely. Maybe sell them in 50-70lb. lots.
And why start throwing them in a barrel? A 55gal? What type?
I used to work at a cooperage, |
| fasteddy |
Posted - 09/02/2009 : 16:48:28
fellas I have a problem...I have been throwing my Cu pennies in a barrel in the garage..it is just over half full...do I need to roll those pennies...i see this picture of all those rolled Cu pennies. My collection is from the time I started keeping pennies when I was thirteen. About 34 years now. |
| HoardCopperByTheTon |
Posted - 08/29/2009 : 01:29:14
Great deal! Looks like I was about 13 pounds light on my weight estimate.
Congratulations! |
| coinwolf |
Posted - 08/25/2009 : 20:20:54
Not to bad! |
| Neckro |
Posted - 08/25/2009 : 18:29:52
Nice outcome. |
| Mikep2020 |
Posted - 08/25/2009 : 18:20:53
Finally returned all the zinc and wrapped all the Cu
Cu weight = 52.5 lbs
Cu face = $86.35
Zinc weight = 294.1 lbs
Zinc face = $530.18
Total Weight = 346.6 lbs
Total face value of lot = $616.53
Total I paid = $480 ($136.53 face profit)
A free pile of copper and $50.18 cash
 |
| dakota1955 |
Posted - 08/19/2009 : 10:38:07
We all hope that we can get deals like what you found. |
| Mikep2020 |
Posted - 08/19/2009 : 10:10:27
I was up late last night to finally finish sorting this batch, I haven't yet pulled together all the numbers, but I think I did pretty well. I will have total copper and zinc weights shortly with actual true face values in a few days. I found another 2 dozen or so common wheats, with another 1943 steelie and a few foreign coins.
I have already started returning the zincs to coin machines over the last week or so. I've returned around 210 lbs of zinc and based on the receipts, its $372.90 in actual zinc face value so far returned, and I have at least another 60 lbs or more to return, so its looking like I'll get the zinc face value right up close to the price paid for the entire lot, so all the CU would be basically free! |
| Mikep2020 |
Posted - 08/11/2009 : 10:01:32
quote:
Originally posted by NotABigDeal
While not the best results, better than mine. I've been waiting for some for ever it seems. One of my first threads as well as posts. Going on two years now. Still waiting....
http://realcent.forumco.com/topic~TOPIC_ID~1270~SearchTerms~huge,jug,of,pennies,.asp
Deal
Wow, your still waiting to pick those up? I would move quickly on getting those jugs. They are not that hard to lift, even at 175 lbs each, I was able to lift mine from a dolly to the tailgate of my truck without a problem, but I did have a dolly malfunction while carting them from the house though, the rubber tire peeled off and I had to push the dolly the last 15 feet on the plastic rim almost destroying the rim, and it was a 300 lb rated dolly!
On a side note, the second deal fell through, the guy couldn't give me a straight answer on if these have been sorted or not and if there was any substantial wheats in there, he didn't even know the weights of the hoard, he estimated 200-300 lbs, which is a big gap and would've effected my offer in a big way. He couldn't give me any other valuable info either that would effect my offer, almost like he didn't do any homework into finding out what he really has before posting his ad online. and the guy was really rude on the phone, laughed at my starting $1.50/lb bid and said he didn't want to sell them by the wieght. WTF? how else are you going to sell them? Plus, he was over an hour drive away, so I was like, "Look buddy, if your trying to sell me a bunch of pennies for more than the face value without giving me any details of what you have, plus I'm providing you with a service of not having to spend countless hours either sorting these or returning them to the bank, then you go ahead and return the whole batch to the bank so I can pick them up for face value when they get re-rolled into boxes". He then hung up on me  |
| NotABigDeal |
Posted - 08/10/2009 : 17:52:09
While not the best results, better than mine. I've been waiting for some for ever it seems. One of my first threads as well as posts. Going on two years now. Still waiting....
http://realcent.forumco.com/topic~TOPIC_ID~1270~SearchTerms~huge,jug,of,pennies,.asp
Deal
|
| Mikep2020 |
Posted - 08/10/2009 : 11:07:25
I might have another oppertunity to pick up another batch of a few hundred pounds of mixed cents, trying to get more details of the hoard right now, but based on the info I have at the moment, it was a collection started in the 60's through the early 90's, and is "claimed" to be unsorted. Haven't recieved the exact weight yet, but will let you guys know if I complete this second deal. |
| jonflyfish |
Posted - 08/10/2009 : 10:45:37
Am guessing that there will be approx $592.77 FV for both jugs combined and roughly $122.37 FV of copper. |
| JobIII |
Posted - 08/10/2009 : 10:44:39
Regardless of what you find, coppers, wheats, ddo's, etc. If you paid less than the FV of the coins, you will already walk away winning out. This seems to be a great deal and I have a friend who is holding onto a couple similar jugs for what I don't know. But i'll try to make a similar purchase if it's available. Nice work!
~ JobIII |
| Mikep2020 |
Posted - 08/10/2009 : 08:41:10
quote:
Originally posted by hobo finds
Have you done a final count? How much copper? Were those the only wheats? Let us know!
I have about 30 lbs left to sort from the right jug, and about 140 lbs left to sort from the left jug. No additional wheats yet other than the ones pictured, and no other odd finds yet. Its going to probably take another week or two to wrap up this batch, since i'm busy with other stuff as well and only have around 12 hours a week of sorting time.
I started looking for wide AM's and other zinc varieties, but its just to time consuming at the moment and I want to move this batch as quickly as possible. So i'm setting aside just the BU zincs in another container to sort through at a later date. |
