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PennySaved
Penny Collector Member
359 Posts |
 Posted - 09/25/2009 : 10:59:17
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Hi,
Yesterday I was thinking about my sorting percentages while sorting pennies.
With so many of us sorting and hoarding copper pennies, how long do you think it would take before our percentages will drop to below 20%? or below 10%?
I guess copper prices and the melt ban would also play a role. But lets say copper prices are pretty stable and the melt ban is still in place.
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dakota1955
Penny Hoarding Member
800 Posts |
Posted - 09/25/2009 : 12:47:10
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I can see that the percentages staying up for a while until the price of coppper penny get to be worth 2.5 of 3 cents apiece.
For what we are taking out as persons on this fourm is small when you look at the area that we cover, the whole US and Canada.
It will need a big rise in copper and then everyone will be looking for copper and then the market will be there. |
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JerrySpringer
Penny Hoarding Member
614 Posts |
Posted - 09/25/2009 : 13:09:34
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| Keep sorting is what I say. Until interest rates reflect the worth of loaning our money out to banks and their ventures, our FRNs are best served by getting near pure copper under spot. The WORST that can happen is you have to capitulate and turn your bags of cents in for cash to buy some other asset. Personally, if we see rising interest rates in the years to come, short of copper going for a nice premium, I will slowly sell off my copper coins for face, if I have to, to incrementally ladder up into bond funds. |
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PennySaved
Penny Collector Member
359 Posts |
Posted - 09/25/2009 : 13:59:10
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I will definitely keep sorting. Finding the dimes, occasional Indian Head, wheat pennies, and foreign coins definitely keeps my interest.
I was just curious if you thought that more and more we will see the % of copper pennies decline especially with all the hoarding that we are doing. |
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Pyramid
New Member
6 Posts |
Posted - 09/25/2009 : 14:53:29
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| I've noticed a decline in my keeper rate since I started doing this only 3-4 months ago. At first I was at a solid 32%, lately most boxes and bags are under 30%. You would think the big time hoarders with the Ryedales and the small army of hand sorters (like me) would be slowly but surely siphoning the coppers out of circulation. |
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sheba
Penny Pincher Member
USA
114 Posts |
Posted - 09/25/2009 : 17:01:02
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I'm one of those 'small-time' hand sorters, too. But oddly enough, in the past couple months I have been finding more coppers per roll, than previously. I had been around 25% (rough estimate) but recently have probably been more like 30 - 35%.
One big surprise (for me, anyway) are the percentage of rolls I am getting that have 20 to as high as 40 (or more) coppers per roll. That used to happen only rarely, but in the past couple months it has been 'normal' to get 3-4 rolls per 10, loaded with coppers.
For variety's sake, I get my rolls from many different banks in my area ... so this phenomenon is does not seem restricted to just one major bank.
Probably this in an 'abberation', but it can keep right on 'abberating' as long as it wants, while i pick out those nice little coppers 
sheba |
woof ... wag ... whine |
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HoardCopperByTheTon
Administrator
USA
5240 Posts |
Posted - 09/27/2009 : 01:16:26
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I don't hoard much.. just my fair share. Your percentage doesn't drop as drastically if you start out with a lover percentage. I was getting 21% a couple of years ago. Saw it slide to about 20%. Then this year I have seen the percentage jump to 23% or so. I think they ecomomy has caused more folks to roll up and turn in those old stashes of pennies. Our percentages should see a gradual decline from this point.  |
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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NDFARMER
Penny Hoarding Member
USA
547 Posts |
Posted - 09/27/2009 : 08:07:42
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| I have been sorting for almost two years and I have not seen any decline in copper. I wish it would decline. I hope in the next 5 years the melt ban is lifted or they discontinue the penny. I think that is the only way we are going to see any substantial rise in the price. If that were to happen I would increase my sorting until you only find a handful of coppers in a bag (kind of likes wheats today) and then we would hopefully be getting at least 5 times face which is what I hope to get for my coppers. |
COPPER - the "poormans" precious metal!!! |
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NotABigDeal
1000+ Penny Miser Member
USA
3250 Posts |
Posted - 09/27/2009 : 10:08:43
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No decline. If anything, an increase has been noticed around here as well.
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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Topic |
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Sorting Percentages and Sustainability
