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ZippyGaloo
Penny Sorter Member
33 Posts |
 Posted - 07/11/2009 : 12:56:12
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quote:
Originally posted by Gr33nday43
Well said, Hoard. I think that you should keep the copper, and keep hoarding. But, "You can lead a horse to water, but you can't force it to drink." My Ryedale arrives next week, so I'll be getting my tons. 
What is a Rydale? And should I get one? |
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ZippyGaloo
Penny Sorter Member
33 Posts |
Posted - 07/12/2009 : 03:47:40
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| Currently copper is at $2.25 per pound. Currently I can't sell the pennies accept at face value. Currently my 8.8 pound bag can get me one ounce of Silver. Silver will definitely go up before a melt ban is lifted on the penny. Makes more sense to unload my bag of pennies at face value and buy silver. |
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HoardCopperByTheTon
Administrator
USA
5252 Posts |
Posted - 07/12/2009 : 10:35:41
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Currently copper pennies can be sold above face value.. but for small quantities the shipping would kill you.
If you are near any other member, they would be happy to take those copper pennies off your hand for face. Where are you located? |
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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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 07/12/2009 : 17:56:55
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quote:
Originally posted by ZippyGaloo
Currently copper is at $2.25 per pound. Currently I can't sell the pennies accept at face value. Currently my 8.8 pound bag can get me one ounce of Silver. Silver will definitely go up before a melt ban is lifted on the penny. Makes more sense to unload my bag of pennies at face value and buy silver.
You most certainly can do what you are suggesting. It's just not what I would do. It takes a considerable amount of effort to accumulate that much copper if you are sorting by hand. Why not just save the copper and use zinc cents or federal reserve notes to purchase the one ounce of silver?
Copper was around $5.00/lb. last year. Check www.coinflation.com for metal value of coins and kitco.com for current and historic spot prices of metals.
Again...I can take my pre-65 dimes and quarters and use them at face value to purchase one ounce of silver. It is not preferable to buy silver this way, but, of course, it can be done. Similar scenario with using your copper cents to buy the silver. You are using coinage with more intrinsic metal value than you need to use to make the purchase.
As of 07-12-2009, the metal value of a copper cent is .0145811. The spot price of silver is $12.65.
If you use your copper cents to make the purchase for the silver, you are using $18.44 of copper metal value to make the purchase for the one ounce of silver at the spot price of $12.65.
But, it sounds like it's something you really, really want to do and you've made up your mind so...go for it. |
"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 07/12/2009 18:09:37 |
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Gr33nday43
Penny Hoarding Member
Uzbekistan
885 Posts |
Posted - 07/12/2009 : 18:34:03
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quote:
Originally posted by ZippyGaloo
quote:
Originally posted by Gr33nday43
Well said, Hoard. I think that you should keep the copper, and keep hoarding. But, "You can lead a horse to water, but you can't force it to drink." My Ryedale arrives next week, so I'll be getting my tons.
What is a Rydale? And should I get one?
A Ryedale is a machine that sorts copper cents(pre-82), from zinc(post 82), at the rate of 300 pennies per minute, or 5 per second. http://www.Ryedalecoin.com |
Rand Paul for 2010 KY Senate Race - http://www.randpaul2010.com
HR 1207 - 313 Cosponsors 72% of house
S 604 - 30 Cosponsors 30% of Senate
Audit the Fed amendment has passed committee!
"My friends, we live in the greatest nation in the history of the world.
I hope you'll join with me, as we try to change it." -- His Excellency Barack Hussein 0bama, Head of Government,
Duce of Socialism, and Founder of the Empire.
Alcohol didn't cause the high crime rates of the '20s and '30s, Prohibition did. And drugs do not cause today's alarming crime rates, but drug prohibition does. – US District Judge James C. Paine, addressing the Federal Bar Association in Miami, November, 1991
http://coppermillions.blogspot.com/
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ZippyGaloo
Penny Sorter Member
33 Posts |
Posted - 07/13/2009 : 02:06:57
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quote:
Originally posted by Silver Surfer
quote:
Originally posted by ZippyGaloo
Currently copper is at $2.25 per pound. Currently I can't sell the pennies accept at face value. Currently my 8.8 pound bag can get me one ounce of Silver. Silver will definitely go up before a melt ban is lifted on the penny. Makes more sense to unload my bag of pennies at face value and buy silver.
You most certainly can do what you are suggesting. It's just not what I would do. It takes a considerable amount of effort to accumulate that much copper if you are sorting by hand. Why not just save the copper and use zinc cents or federal reserve notes to purchase the one ounce of silver?
Copper was around $5.00/lb. last year. Check www.coinflation.com for metal value of coins and kitco.com for current and historic spot prices of metals.
Again...I can take my pre-65 dimes and quarters and use them at face value to purchase one ounce of silver. It is not preferable to buy silver this way, but, of course, it can be done. Similar scenario with using your copper cents to buy the silver. You are using coinage with more intrinsic metal value than you need to use to make the purchase.
As of 07-12-2009, the metal value of a copper cent is .0145811. The spot price of silver is $12.65.
If you use your copper cents to make the purchase for the silver, you are using $18.44 of copper metal value to make the purchase for the one ounce of silver at the spot price of $12.65.
But, it sounds like it's something you really, really want to do and you've made up your mind so...go for it.
I agree with everything you say here, but what I think you might be missing is the rate of increase on silver vs copper. I believe silver will increase substantially more than copper. Also, I may never be able to get more than face value for my copper pennies if the melt ban is never lifted. |
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ZippyGaloo
Penny Sorter Member
33 Posts |
Posted - 07/13/2009 : 02:08:17
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quote:
Originally posted by ZippyGaloo
quote:
Originally posted by Silver Surfer
quote:
Originally posted by ZippyGaloo
Currently copper is at $2.25 per pound. Currently I can't sell the pennies accept at face value. Currently my 8.8 pound bag can get me one ounce of Silver. Silver will definitely go up before a melt ban is lifted on the penny. Makes more sense to unload my bag of pennies at face value and buy silver.
You most certainly can do what you are suggesting. It's just not what I would do. It takes a considerable amount of effort to accumulate that much copper if you are sorting by hand. Why not just save the copper and use zinc cents or federal reserve notes to purchase the one ounce of silver?
Copper was around $5.00/lb. last year. Check www.coinflation.com for metal value of coins and kitco.com for current and historic spot prices of metals.
Again...I can take my pre-65 dimes and quarters and use them at face value to purchase one ounce of silver. It is not preferable to buy silver this way, but, of course, it can be done. Similar scenario with using your copper cents to buy the silver. You are using coinage with more intrinsic metal value than you need to use to make the purchase.
As of 07-12-2009, the metal value of a copper cent is .0145811. The spot price of silver is $12.65.
If you use your copper cents to make the purchase for the silver, you are using $18.44 of copper metal value to make the purchase for the one ounce of silver at the spot price of $12.65.
But, it sounds like it's something you really, really want to do and you've made up your mind so...go for it.
I agree with everything you say here, but what I think you might be missing is the rate of increase on silver vs copper. I believe silver will increase substantially more than copper. Also, I may never be able to get more than face value for my copper pennies if the melt ban is never lifted, where as this does not matter with silver.
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Gr33nday43
Penny Hoarding Member
Uzbekistan
885 Posts |
Posted - 07/13/2009 : 04:01:45
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quote:
Originally posted by ZippyGaloo
quote:
Originally posted by Silver Surfer
quote:
Originally posted by ZippyGaloo
Currently copper is at $2.25 per pound. Currently I can't sell the pennies accept at face value. Currently my 8.8 pound bag can get me one ounce of Silver. Silver will definitely go up before a melt ban is lifted on the penny. Makes more sense to unload my bag of pennies at face value and buy silver.
You most certainly can do what you are suggesting. It's just not what I would do. It takes a considerable amount of effort to accumulate that much copper if you are sorting by hand. Why not just save the copper and use zinc cents or federal reserve notes to purchase the one ounce of silver?
Copper was around $5.00/lb. last year. Check www.coinflation.com for metal value of coins and kitco.com for current and historic spot prices of metals.
Again...I can take my pre-65 dimes and quarters and use them at face value to purchase one ounce of silver. It is not preferable to buy silver this way, but, of course, it can be done. Similar scenario with using your copper cents to buy the silver. You are using coinage with more intrinsic metal value than you need to use to make the purchase.
As of 07-12-2009, the metal value of a copper cent is .0145811. The spot price of silver is $12.65.
If you use your copper cents to make the purchase for the silver, you are using $18.44 of copper metal value to make the purchase for the one ounce of silver at the spot price of $12.65.
But, it sounds like it's something you really, really want to do and you've made up your mind so...go for it.
I agree with everything you say here, but what I think you might be missing is the rate of increase on silver vs copper. I believe silver will increase substantially more than copper. Also, I may never be able to get more than face value for my copper pennies if the melt ban is never lifted.
I think this is being beaten to death. If you feel that silver will rise more than copper, buy silver. If you feel copper will rise more than silver, keep your copper pennies. That's all there is to it. |
Rand Paul for 2010 KY Senate Race - http://www.randpaul2010.com
HR 1207 - 313 Cosponsors 72% of house
S 604 - 30 Cosponsors 30% of Senate
Audit the Fed amendment has passed committee!
"My friends, we live in the greatest nation in the history of the world.
I hope you'll join with me, as we try to change it." -- His Excellency Barack Hussein 0bama, Head of Government,
Duce of Socialism, and Founder of the Empire.
Alcohol didn't cause the high crime rates of the '20s and '30s, Prohibition did. And drugs do not cause today's alarming crime rates, but drug prohibition does. – US District Judge James C. Paine, addressing the Federal Bar Association in Miami, November, 1991
http://coppermillions.blogspot.com/
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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 07/13/2009 : 15:45:46
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quote:
Originally posted by Gr33nday43
quote:
I think this is being beaten to death. If you feel that silver will rise more than copper, buy silver. If you feel copper will rise more than silver, keep your copper pennies. That's all there is to it.
He asked for advice. Now, he can weigh his options and make an informed decision with no regrets. |
"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 07/13/2009 15:47:26 |
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dakota1955
Penny Hoarding Member
801 Posts |
Posted - 07/13/2009 : 20:31:57
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| If he is willing I would trade his 8.8 # of copper for silver. |
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ZippyGaloo
Penny Sorter Member
33 Posts |
Posted - 07/14/2009 : 23:34:14
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quote:
Originally posted by dakota1955
If he is willing I would trade his 8.8 # of copper for silver.
OK, how do I do this and for how much silver? |
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HoardCopperByTheTon
Administrator
USA
5252 Posts |
Posted - 07/15/2009 : 00:21:11
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| Probably about an ounce. But it will cost you at least $4.95 to ship the copper. |
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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dakota1955
Penny Hoarding Member
801 Posts |
Posted - 07/15/2009 : 05:57:20
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| pm sent |
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HoardCopperByTheTon
Administrator
USA
5252 Posts |
Posted - 09/12/2009 : 11:57:27
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Whatever happened to the mini-hoard of 8.8 pounds? Did it get traded for silver, sold, or cashed in at the bank? Did hoarding continue and now the hoard is up to 9 pounds? Perspiring minds want to know..
ZippyGaloo.. you have to gather up a few more coppers to trade for even 1 bar of silver.
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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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twocents
Penny Pincher Member
163 Posts |
Posted - 09/12/2009 : 16:23:27
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Now that was a funny read. I would question if this were serious question or someone just yanking your chains. Honestly, one would have to avoid reading any other threads on this site to create such a mockery. The best value here would be to spend the $12.76 as cash rather than somehow be swindled to a lower value on shipping it. I would also wonder if it were 8.8 pounds or actually 8 pounds 8 ounces.
Oh an Slickeast, being the smaller hoarder that I am, the Coinstar is my primary dump site. I go for the Amazon e-certificates at no counting cost. I can't get pennies from the bank fast enough to keep up with my wife's Amazon spending. |
Just my two cents! |
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HoardCopperByTheTon
Administrator
USA
5252 Posts |
Posted - 09/14/2009 : 08:56:56
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Happens all the time.
Noobie shows up.. asks "How do I cash in on the this copper gravy train?.. Whaaaaaat, there's actual work involved?!!!! I thought this was gonna be easy money. Dang, those things are heeeeeeeavy!"
Then we never hear from them again.
Conversly, we get some new folks that ask a few questions in the beginning.. then buy some hand cleaner and dive right in with the rest of us. Soon they are well respected contributing members. |
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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slickeast
1000+ Penny Miser Member
USA
1370 Posts |
Posted - 09/14/2009 : 10:10:21
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quote:
Originally posted by HoardCopperByTheTon
Happens all the time.
Noobie shows up.. asks "How do I cash in on the this copper gravy train?.. Whaaaaaat, there's actual work involved?!!!! I thought this was gonna be easy money. Dang, those things are heeeeeeeavy!"
Then we never hear from them again.
Conversly, we get some new folks that ask a few questions in the beginning.. then buy some hand cleaner and dive right in with the rest of us. Soon they are well respected contributing members.
I am still considering getting some pennies from the bank and maybe sorting a few, then I can contribute to the forum |
You don't have to be the BEST you just have to be.......SLICK
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AgCollector
Penny Pincher Member
USA
201 Posts |
Posted - 09/14/2009 : 12:35:36
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quote:
Originally posted by HoardCopperByTheTon
Whatever happened to the mini-hoard of 8.8 pounds? Did it get traded for silver, sold, or cashed in at the bank? Did hoarding continue and now the hoard is up to 9 pounds? Perspiring minds want to know..
ZippyGaloo.. you have to gather up a few more coppers to trade for even 1 bar of silver.
Hmm, Hoard- that bar doesn't look like copper. You better send it to me for assaying! |
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HoardCopperByTheTon
Administrator
USA
5252 Posts |
Posted - 09/14/2009 : 22:53:57
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| I would.. but it won't fit in a Flat Rate box. |
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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What to do with 8.8 pounds of pre-1982 pennies
