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derrickvanderwall
Penny Sorter Member
25 Posts |
 Posted - 08/31/2008 : 20:26:47
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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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Edited by - derrickvanderwall on 08/31/2008 22:25:20 |
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Ardent Listener
Administrator
USA
3446 Posts |
Posted - 08/31/2008 : 20:45:51
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| Thanks, I made it sticky. |
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All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for edification and entertainment purpose only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, legal, securtity or tax advice and nothing posted here should be considered to be so. All rights reserved. |
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Gr33nday43
Penny Hoarding Member
Uzbekistan
884 Posts |
Posted - 08/31/2008 : 21:40:21
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| Hey, the only thing i have to mention is that you said steel cents were rare, they aren't that rare. I'm pretty sure you were talking abotu 1943 copper pennies...You might want to edit that. On everything else you did great. Thanks! |
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http://coppermillions.blogspot.com/
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HoardCopperByTheTon
Administrator
USA
5240 Posts |
Posted - 08/31/2008 : 22:15:44
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Great post Derrick! I agree that the 43 cents are not rare unless they are copper.
You may want to change the dates on the Indian Cents from 1859 to 1909. I have found an 1859 in my sorting but have not found a 1909 yet.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Let me see if I understand this? If you cross the North Korean border illegally, you get 12 years hard labor; the Iranian border illegally you are detained indefinitely. If you cross the US border illegally, you get a driver’s license, a social security card, welfare, food stamps, free health care!
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derrickvanderwall
Penny Sorter Member
25 Posts |
Posted - 08/31/2008 : 22:28:39
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Sorry for the few mistakes, it's really late and i'm tired.
Like I said, anything you think I missed just tell me and either me or an administrator can change it. Seems to be getting a good response :) |
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PennehChaos.
Penny Collector Member
USA
267 Posts |
Posted - 09/01/2008 : 11:54:35
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I don't know that a 1943 Copper cent is common enough to be worth mentioning at all... I don't even think HCBTT has found one yet!
I would probably replace that with Canadian cents, as those ARE pretty common finds. |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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HoardCopperByTheTon
Administrator
USA
5240 Posts |
Posted - 09/01/2008 : 12:59:58
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| Sure, I found one of the 1943 Copper cents. Unfortunately it sticks to a magnet. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Let me see if I understand this? If you cross the North Korean border illegally, you get 12 years hard labor; the Iranian border illegally you are detained indefinitely. If you cross the US border illegally, you get a driver’s license, a social security card, welfare, food stamps, free health care!
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Kurr
1000+ Penny Miser Member
USA
1685 Posts |
Posted - 09/01/2008 : 15:05:47
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| Could replace the 1943 copper with the 1909 S VDB. |
Selling coppers- 1.4 + shipping or trade, PM me!! ~100.00 (68lbs)Available~
"If my sons did not want wars, there would be none." ~ Gutle Schnaper, Mayer Amschel Rothschilds wife
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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HoardCopperByTheTon
Administrator
USA
5240 Posts |
 Posted - 09/01/2008 : 15:50:45
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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. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Let me see if I understand this? If you cross the North Korean border illegally, you get 12 years hard labor; the Iranian border illegally you are detained indefinitely. If you cross the US border illegally, you get a driver’s license, a social security card, welfare, food stamps, free health care!
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moboman
1000+ Penny Miser Member
USA
2259 Posts |
Posted - 09/01/2008 : 18:15:55
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| what about foreign coins? Gaming tokens? buttons, rocks, plastic pennies, dimes? I've found all of these in penny rolls. |
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Centsearcher
Penny Pincher Member
USA
100 Posts |
Posted - 09/01/2008 : 21:24:01
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| 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! |
--Misplaced Numismatist--
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ceddy2
New Member
23 Posts |
Posted - 09/08/2008 : 21:24:40
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| 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. |
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Steiner
Penny Collector Member
Canada
278 Posts |
Posted - 09/08/2008 : 22:40:18
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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 |
Steiner |
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jadedragon
Administrator
Canada
2809 Posts |
Posted - 10/11/2008 : 20:07:35
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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. |
"It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things." - Leonardo da Vinci
How to Hedge Against Inflation (NEW) ~~~How to Invest in Copper Bullion at A Steep Discount~~~How to Teach Your Children to Invest in Precious Metals (NEW) ~~~How to Follow Gresham's Law |
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Red_Blade
Penny Pincher Member
USA
146 Posts |
Posted - 10/12/2008 : 11:28:44
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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. |
THE Red Blade
Accept No Substitutions!
Save the trees.
Use REAL Money! |
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Greg Kaler
New Member
USA
10 Posts |
Posted - 01/30/2009 : 11:17:02
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(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- |
The exact opposite of gluttony is not starvation, its simply eating wisely. |
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aaron239
Penny Collector Member
USA
260 Posts |
Posted - 01/30/2009 : 11:40:32
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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. |
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Kurr
1000+ Penny Miser Member
USA
1685 Posts |
Posted - 01/30/2009 : 12:37:54
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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. |
Selling coppers- 1.4 + shipping or trade, PM me!! ~100.00 (68lbs)Available~
"If my sons did not want wars, there would be none." ~ Gutle Schnaper, Mayer Amschel Rothschilds wife
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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Musenge
New Member
Colombia
5 Posts |
Posted - 05/07/2009 : 23:44:32
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| Can should keep my $100 colombian pesos coins? 92% Cu? Should I? |
Recycling and investing is life!!! The rest is just details... |
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Mikep2020
Penny Pincher Member
USA
205 Posts |
Posted - 05/08/2009 : 07:23:31
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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. |
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Musenge
New Member
Colombia
5 Posts |
Posted - 05/08/2009 : 10:10:42
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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. |
Recycling and investing is life!!! The rest is just details... |
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Ponce
Penny Collector Member
Cuba
407 Posts |
Posted - 05/28/2009 : 09:25:13
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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 |
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Ryedale
Administrator
USA
454 Posts |
Posted - 05/28/2009 : 12:35:06
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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. |
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NotABigDeal
1000+ Penny Miser Member
USA
3250 Posts |
Posted - 05/28/2009 : 17:15:47
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Ponce, been awhile huh? You back or what?
Deal |
Gun control is like trying to reduce drunk driving by making it harder for sober people to own cars.
If you want peace, prepare for war. |
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Ponce
Penny Collector Member
Cuba
407 Posts |
Posted - 05/28/2009 : 19:55:56
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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..... |
"If you don't hold it, you don't own it"...Ponce |
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jadedragon
Administrator
Canada
2809 Posts |
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Hoarding Standards
