| T O P I C R E V I E W |
| b256 |
Posted - 07/01/2008 : 19:32:34
The copper percentage in my area, out of common change, is abysmal (under 20%). I wonder if folks around here are just throwing their change in jars indefinitely, not turning them it, which is resulting in more modern coinage to be drawn in to the local bank system and circulation out of necessity. Now, I don't know how locally "common change" stays when it is turned in and reprocessed by Brinks or whoever, but it has me wondering. In depressed areas of the country, are folks more likely to turn in old (copper rich) change more often to generate cash? Those of you who report 30+ % copper have me amazed. It sure ain't the case around here (for whatever reason). Any thoughts? Any big time hoarder-processors in the North-West Connecticut area who want to fess up?
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| 12 L A T E S T R E P L I E S (Newest First) |
| moboman |
Posted - 07/04/2008 : 23:17:34
The wealthier and the poorer areas of town are the best in my area! The wealthy dont seem to keep them around, because pennies are "worthless". The poor cant afford to. |
| knibloe |
Posted - 07/03/2008 : 20:12:23
Try more rural areas. Less people, less turnover of coinage. |
| Tourney64 |
Posted - 07/03/2008 : 13:55:19
You can only look at Customer Wrapped Rolls (CRW) as all others are shipped in. I observe a higher percentage of copper in financial institutions that are in less affluent neighborhoods. |
| fb101 |
Posted - 07/03/2008 : 09:09:17
I second JPF231, although some banks in general seem to have a better percentage than others. I thought I would get significantly better percentages of CU from banks which feature coinstars, but that hasn't always proven out. I do think I get a higher % of wheats from banks with coinstars. |
| jpf231 |
Posted - 07/03/2008 : 08:12:00
I would say I'm at a solid 24-28 % here on the Central East Coast. |
| Gr33nday43 |
Posted - 07/03/2008 : 00:27:56
quote:
Originally posted by mickeyman
I haven't really looked much at pennies, but I have found that for Canadian nickels, there is a correlation between demographics and good results. The best areas generally are older neighbourhoods with a lot of single-family homes and a known typical residence time of 20+ years (most people have lived in the same home for 20 years. But the local commerce plays a role too. The best areas for coaxing old coins out of jars have a lot of walk-up store fronts. Once the big box stores move in the area becomes flooded in new coin (in Canada that means steel). I have actually seen this at some of the branches where I have been gathering nickels for awhile.
Yes, I definitely agree, my area is just how you described and I get about 27%-44% copper rate! |
| mickeyman |
Posted - 07/02/2008 : 19:39:37
I haven't really looked much at pennies, but I have found that for Canadian nickels, there is a correlation between demographics and good results. The best areas generally are older neighbourhoods with a lot of single-family homes and a known typical residence time of 20+ years (most people have lived in the same home for 20 years. But the local commerce plays a role too. The best areas for coaxing old coins out of jars have a lot of walk-up store fronts. Once the big box stores move in the area becomes flooded in new coin (in Canada that means steel). I have actually seen this at some of the branches where I have been gathering nickels for awhile. |
| centavito |
Posted - 07/02/2008 : 19:17:41
I think the key word for Cu % is LOCATION. Here in Wash,DC it is right about 21 or 22%, cwr or bank rolls being about equal, down from 23 or 24% a year or so ago. However, in West Virginia, a depressed economy, it's more like 28 or 29%. Anyone care to guess why? |
| jpf231 |
Posted - 07/02/2008 : 18:54:18
I personally don't think there's any correlation. My advice to you would be to try some other banks / branches. As Hoard says, "If your percentages are low, sort more". Well, that's only half of it. He says to sort more if your percentages are high too. Hah. |
| Bluegill |
Posted - 07/02/2008 : 18:50:42
I haven't noticed any real difference with the CWR's. Other than the lack of wheats the percentages have been the same including the quantity and Cu ratio of the Canadians.
So far I have also not seen a difference between the more affluent and less affluent areas.
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| Flbandit |
Posted - 07/01/2008 : 20:42:42
I'm hardly big time, but here in FL I've noticed the % going up on CWR. I attribute it to more people rolling up their pennies and turning them in for gas. In fact, I got a few rolls from the bank the other day with someones name and address on them. I remember doing this when I would use pennies to buy gas and food! |
| PennehChaos. |
Posted - 07/01/2008 : 20:41:03
See, i would actually expect the opposite to be true... they haven't minted a copper cent in 25 years now, so i'd think that in poor areas, most of the penny jars have been cashed in multiple times by now.
My area isn't particularly wealthy, but my copper percentages are just awful... the only times i've even hit 20% are when i've lucked onto some customer rolls that were obviously penny-jar returns. |
