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Klark Cent
Penny Sorter Member
USA
68 Posts |
 Posted - 07/21/2010 : 00:45:06
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hey guys,
which do you think is better: hoarding nickels bought for face value from banks or buying copper cents from others who have already sorted out the zincolns?
of course it depends on the price you would have to pay for the copper cents. let's say 1.45x shipped.
i would like to build a hoard bigger than my occasional hand-sorting has me on pace for.
i guess another option would be to accumulate unsorted penny boxes (purchased from banks now - before the copper percentages inevitably get lower), then sort a little here and there over the next few years. by then we'll probably be hoarding the zinc cents too  .
any thoughts would be appreciated.
i am very interested to hear the other side.
thx
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Edited by - Klark Cent on 07/21/2010 17:35:13 |
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 07/21/2010 : 02:09:42
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I know the 5 cent piece has at times been above 5 cents in melt value.And I havent worked out the numbers but I would think nickel prices would really have to skyrocket for it to be worth twice its face in melt,and even then you would be hard pressed to get that reflected in market prices,just look at current cu cent prices for sale here.The cu cents are close to 2x face in metal value vs. its value as a cent,but sell only for 1.3x face.No one I know of is buying common nickels for a premium.If copper reaches just over $4 a pound then cu cents will have a metal value 3x its face,and one would think it would be easier to move pennies at 2x face then.
But we don't know what the future holds for the nickel,or the penny.
It would take only one law to remove them from circulation making them rare and more collectable.I have a $100 box of pre 64 nicks that I sorted back when I hand sorted,found some war nicks and buffs,and keep them just because you never know.
Maybe Ponce will chime in with his thoughts on nicks.And I'm sure someone can provide some numbers on nickel price to melt value relation.
And welcome to the forum
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 07/21/2010 : 03:25:44
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I just did some quick math based on todays nickel and copper prices.
If both metals see a 33% increase it would take the metal or melt value of a nickel close to .065 cents. Thats with copper at $4 and nickel at $11.42. The penny at $4 copper price would relate to a .026 metal value of the cu cent.Copper at $4.65 a pound is the magic number for 3xface for pennies.
IMO cu cents is the way to go.You can buy them here from 1.3x-to 1.4x pretty much all day.But most of us selling them wish it was at least 1.6 shipped |
Available again! $100 of Copper Lincoln Memorials for $145 shipped. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/21/2010 : 09:05:34
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| I think if CU gets above $4 in the near future, you will see very few people selling at 1.6 |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Klark Cent
Penny Sorter Member
USA
68 Posts |
Posted - 07/21/2010 : 17:33:21
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thanks for the replies. so why would someone hoard common nickels when they could buy presorted copper pennies much cheaper? i can think of a couple possible reasons.
with nickels bought at face there's no downside risk if copper prices drop a lot. copper lincolns bought at 1.3 would have 30% downside.
and i suppose the nickels would take up less space for the same investment amount.
but buying presorted copper cents seems clearly better. |
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hobo finds
Penny Hoarding Member
838 Posts |
Posted - 07/21/2010 : 17:41:46
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Hahahahahaha
bricks of nic's! |
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frugalcanuck
Penny Pincher Member
Canada
103 Posts |
Posted - 07/21/2010 : 18:56:23
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I started by sorting nickels and still sort more nickels than pennies but Im going to start leaning towards pennies. I enjoy nickels more but if I want plan on selling some had sorted coins to make enough money to buy a Rydale with the profits then I think pennies is the better way to go. Also I am in Canada so i do find .999 Ni. I also sort out the CuNi ones as well though. It doesnt make financial sense at the moment to keep CuNi and that is why I am starting to lean towards pennies.
I am also on the beginner side of sorting so there may be many points I have not taken into consideration |
One box of Nickels
11.65% .999 Ni |
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TheJonasCollegeFund
Penny Collector Member
USA
381 Posts |
Posted - 07/21/2010 : 20:27:36
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Pennies are more fun and you can buy more meaning later on you can, if you want, sell more.
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MD Totals: Started Aug16th.(Updated Sept10th) 819 clad/cu coins/$41.13
Quarters-78
Dimes-122+1 silver roosie (1957)
Nickels-81 (56d,53d)
Copper Pennies-147
Zinc Pennies-386
Wheats-5 (36,36,46,46d,50d) |
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TheJonasCollegeFund
Penny Collector Member
USA
381 Posts |
Posted - 07/21/2010 : 23:26:18
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| Klark.....when you take off your shirt and tie....do they call you Super....cent? |
MD Totals: Started Aug16th.(Updated Sept10th) 819 clad/cu coins/$41.13
Quarters-78
Dimes-122+1 silver roosie (1957)
Nickels-81 (56d,53d)
Copper Pennies-147
Zinc Pennies-386
Wheats-5 (36,36,46,46d,50d) |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 07/22/2010 : 01:07:53
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Klark,
The idea of buying boxes of unsorted Cents isn't a bad one.
Just, if you leave the boxes closed/sealed, WEIGH THEM OUT, any weighing 15 lbs or more can be saved for later sorting, they have about 25% copper or more. |
"May your percentages ever increase!" |
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Investin Cents
Penny Pincher Member
USA
129 Posts |
Posted - 07/23/2010 : 01:01:12
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| I started sorting cents & it is still fun. But cents are just smaller denomination than nicks. So it depends what mood I'm in. For pure hoarding, easier storage of large amounts of $$$ & easier conversion to spending, nicks are it! For more "adventure" & more immediate (and longer-term) upside, cents are the way! Do both and alternate! |
Most recent book I've read: "Meltdown" by Thomas E. Woods Jr. Current book: "I.O.U.: Why Everyone Owes Everyone & No One Can Pay" by John Lanchester |
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Klark Cent
Penny Sorter Member
USA
68 Posts |
Posted - 07/25/2010 : 01:55:36
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"Klark.....when you take off your shirt and tie....do they call you Super....cent?"
Ha ha. I think they just wish I would put my shirt back on. |
Edited by - Klark Cent on 07/25/2010 01:56:26 |
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Klark Cent
Penny Sorter Member
USA
68 Posts |
Posted - 07/25/2010 : 02:00:05
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Thanks everyone. I have now switched my focus to pennies. I will keep the nickels I already have (about $250 face) and keep any others I receive in change.
Then I will buy already-sorted copper pennies and hand sort some more until my hoard size gets significant.
Thanks again! |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 07/25/2010 : 04:09:48
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| glad to help!!! |
"May your percentages ever increase!" |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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frugalcanuck
Penny Pincher Member
Canada
103 Posts |
Posted - 07/25/2010 : 21:50:15
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| The survival blog is what got me sorting nickels but I think pennies makes more sense if you dont mind sorting |
One box of Nickels
11.65% .999 Ni |
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wiper
Penny Sorter Member
36 Posts |
Posted - 07/25/2010 : 22:29:43
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i'm still doing 1-2 boxes of pennies every week, and the corner store a half-block away has stopped rolling their eyes when i ask for a roll of nickels instead of the 2 or 3 bucks in change.
almost to a box of nickels, definitely not a priority. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/25/2010 : 22:36:09
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| As I've posted on here before, I've never spent a nickel since my son was born(jan 09) and am actually getting a nice amount saved. at least a few hundred dollars worth if not more. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/26/2010 : 14:03:43
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quote:
Originally posted by misteroman
As I've posted on here before, I've never spent a nickel since my son was born(jan 09) and am actually getting a nice amount saved. at least a few hundred dollars worth if not more.
You must be doing a heck of a lot of daily transactions to have saved up a couple of hundred in 18 months, but apparently it's possible. Definitely the easiest way to go, instead of making bank runs. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Fatboy
Penny Sorter Member
USA
81 Posts |
Posted - 07/26/2010 : 14:49:08
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quote:
Originally posted by beauanderos
quote:
Originally posted by misteroman
As I've posted on here before, I've never spent a nickel since my son was born(jan 09) and am actually getting a nice amount saved. at least a few hundred dollars worth if not more.
You must be doing a heck of a lot of daily transactions to have saved up a couple of hundred in 18 months, but apparently it's possible. Definitely the easiest way to go, instead of making bank runs.
There has to be a statistician amongst us that can tell the average number of sales that one has to complete to collect a dollars worth of nickles. The nickle is the least likely coin to get in your change for sure. |
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hobo finds
Penny Hoarding Member
838 Posts |
Posted - 07/28/2010 : 12:19:55
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quote:
Originally posted by Fatboy
quote:
Originally posted by beauanderos
quote:
Originally posted by misteroman
As I've posted on here before, I've never spent a nickel since my son was born(jan 09) and am actually getting a nice amount saved. at least a few hundred dollars worth if not more.
You must be doing a heck of a lot of daily transactions to have saved up a couple of hundred in 18 months, but apparently it's possible. Definitely the easiest way to go, instead of making bank runs.
There has to be a statistician amongst us that can tell the average number of sales that one has to complete to collect a dollars worth of nickles. The nickle is the least likely coin to get in your change for sure.
293 ways to get change for a dollar. You must be logged in to see this link.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 07/28/2010 : 17:22:50
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quote:
Originally posted by Klark Cent
thanks for the replies. so why would someone hoard common nickels when they could buy presorted copper pennies much cheaper? i can think of a couple possible reasons.
with nickels bought at face there's no downside risk if copper prices drop a lot. copper lincolns bought at 1.3 would have 30% downside.
and i suppose the nickels would take up less space for the same investment amount.
but buying presorted copper cents seems clearly better.
I agree with your reasoning, but on the other hand, IMO, the melt ban on copper cents is more likely to be lifted before the one on nickels is. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Spikeanator6982
Penny Sorter Member
USA
99 Posts |
Posted - 07/28/2010 : 17:45:26
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| I don't really know, but it seems there might be a more of a hit on nickels "scrap" price because it is a 25% nickel/75% copper mix. I assume it would cost more to refine then the 95% copper pennies would. Anyone have any info on this? It is possible that nickel and copper would be easier to separate then the 95% copper and 5% other is in the penny, I don't know. |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 07/30/2010 : 10:43:08
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quote:
Originally posted by Spikeanator6982
I don't really know, but it seems there might be a more of a hit on nickels "scrap" price because it is a 25% nickel/75% copper mix. I assume it would cost more to refine then the 95% copper pennies would. Anyone have any info on this? It is possible that nickel and copper would be easier to separate then the 95% copper and 5% other is in the penny, I don't know.
Separating nickel from copper might not be necessary because You must be logged in to see this link. alloy itself has many commercial applications.
Also, why would anyone want to melt nickels or pennies? People can be reasonably confident of the metal content of unmelted pennies and unmelted nickels. There is not the same level of confidence of the metal content of a blob of metal from a stranger.
Many unmelted coins made mainly, or purely, of copper, silver, or nickel have a higher market value than the intrinsic value of the metal contained in the coin. |
"The silver is mine, and the gold is mine, saith the LORD of hosts." (Haggai 2:8) |
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hoarding nickels vs buying pre-sorted copper cents
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