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 Hoarding copper pennies
 Bank of America cracks down on hoarders!		  New Topic  New Poll New Poll
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topeka
Penny Pincher Member


159 Posts
Posted - 05/17/2008 :  15:09:20  Show Profile Send topeka a Private Message  Reply with Quote

" May 17 2008

.. in an effort to cut operating costs Bank of America has announced a nationwide policy change. As of Monday May 20, 2008 non business owners will be limited to $25 in coin withdraw per week..."




just kidding

If the big banks knew what we doing,

1. Would they really care?
2. Would it be feasible for them to try and stop us without crippling ligitimate businesses?
Silver..poor mans gold
Copper..peasant silver

jorhyne
Penny Pincher Member



148 Posts
Posted - 05/17/2008 :  15:30:28  Show Profile Send jorhyne a Private Message  Reply with Quote
Heres how it all works out in my mind.

If hoarding remains a relatively small hobby (few people doing it) they will never care. They as corporations are too big and do too much business to notice that a few customers are ordering hundreds of dollars a week in coin. To them it probably doesn't look any different than large merchants who buy coins regularly as well. So unless hoarding starts becoming very popular, I don't think it will be feasible for banks to stop us.
I'm always looking to trade copper pennies for silver. PM me to work out a deal.
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JerrySpringer
Penny Pincher Member



101 Posts
Posted - 05/17/2008 :  15:36:30  Show Profile Send JerrySpringer a Private Message  Reply with Quote
If copper prices keep in the $4/lb range and if we switch finally to a steel penny, I can see a run on the bank for the pennies. With that in mind, expect the big sorter guys to clean the banks out in no time for the coins. Sounds incredible doesn't it? I have seen it many times when an undervalued asset is unpretentiously available.
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HoardCopperByTheTon
Administrator



USA
2840 Posts
Posted - 05/17/2008 :  16:26:11  Show Profile Send HoardCopperByTheTon a Private Message  Reply with Quote
That was mean Topeka. I read that and here is this unopened letter on my desk from BofA. Also, Monday is the 19th.. Tuesday is the 20th. The letter was just to offer me 30 days of FREE life insurance in case I die from having a stack of pennies fall on me or something.
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
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CoinHunter53562
Penny Collector Member



USA
400 Posts
Posted - 05/17/2008 :  16:33:39  Show Profile Send CoinHunter53562 a Private Message  Reply with Quote
Ha ha....good post and I fell for it too. I started to think "damm I just started and now they are ending it on me already".
Load up now while you can!

HoardCode0.1:M38/1USWI:US1Cu20990:US5CuNi985
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