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b256
New Member
11 Posts |
 Posted - 07/01/2008 : 19:32:34
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The copper percentage in my area, out of common change, is abysmal (under 20%). I wonder if folks around here are just throwing their change in jars indefinitely, not turning them it, which is resulting in more modern coinage to be drawn in to the local bank system and circulation out of necessity. Now, I don't know how locally "common change" stays when it is turned in and reprocessed by Brinks or whoever, but it has me wondering. In depressed areas of the country, are folks more likely to turn in old (copper rich) change more often to generate cash? Those of you who report 30+ % copper have me amazed. It sure ain't the case around here (for whatever reason). Any thoughts? Any big time hoarder-processors in the North-West Connecticut area who want to fess up?
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PennehChaos.
Penny Pincher Member
USA
176 Posts |
Posted - 07/01/2008 : 20:41:03
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See, i would actually expect the opposite to be true... they haven't minted a copper cent in 25 years now, so i'd think that in poor areas, most of the penny jars have been cashed in multiple times by now.
My area isn't particularly wealthy, but my copper percentages are just awful... the only times i've even hit 20% are when i've lucked onto some customer rolls that were obviously penny-jar returns. |
Nothing of value is an investment unless you possess it. If all you've got are paper, pixels, or promises, you're gambling. |
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Flbandit
Penny Collector Member
USA
362 Posts |
Posted - 07/01/2008 : 20:42:42
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| I'm hardly big time, but here in FL I've noticed the % going up on CWR. I attribute it to more people rolling up their pennies and turning them in for gas. In fact, I got a few rolls from the bank the other day with someones name and address on them. I remember doing this when I would use pennies to buy gas and food! |
Are you throwing that out? |
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Bluegill
Penny Collector Member
USA
253 Posts |
Posted - 07/02/2008 : 18:50:42
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I haven't noticed any real difference with the CWR's. Other than the lack of wheats the percentages have been the same including the quantity and Cu ratio of the Canadians.
So far I have also not seen a difference between the more affluent and less affluent areas.
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"But nobody really appreciates laissez-faire capitalism, least of all the capitalists. They all want to control the future, not let it happen. And everybody wants to gain some edge...some little favor or advantage – a monopoly, a subsidy, a fat contract with the government, a handout, free food, free medicine, crop supports, student loans, a guaranteed pension, a bailout, a tax credit...some kind of greasy giveaway; the last thing they want is a free market, where the chips fall where they may." - Bill Bonner |
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jpf231
Penny Collector Member
USA
297 Posts |
Posted - 07/02/2008 : 18:54:18
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| I personally don't think there's any correlation. My advice to you would be to try some other banks / branches. As Hoard says, "If your percentages are low, sort more". Well, that's only half of it. He says to sort more if your percentages are high too. Hah. |
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centavito
New Member
7 Posts |
Posted - 07/02/2008 : 19:17:41
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| I think the key word for Cu % is LOCATION. Here in Wash,DC it is right about 21 or 22%, cwr or bank rolls being about equal, down from 23 or 24% a year or so ago. However, in West Virginia, a depressed economy, it's more like 28 or 29%. Anyone care to guess why? |
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mickeyman
Penny Pincher Member
Canada
186 Posts |
Posted - 07/02/2008 : 19:39:37
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| I haven't really looked much at pennies, but I have found that for Canadian nickels, there is a correlation between demographics and good results. The best areas generally are older neighbourhoods with a lot of single-family homes and a known typical residence time of 20+ years (most people have lived in the same home for 20 years. But the local commerce plays a role too. The best areas for coaxing old coins out of jars have a lot of walk-up store fronts. Once the big box stores move in the area becomes flooded in new coin (in Canada that means steel). I have actually seen this at some of the branches where I have been gathering nickels for awhile. |
Not all who wander are lost. |
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Gr33nday43
Penny Collector Member
USA
258 Posts |
Posted - 07/03/2008 : 00:27:56
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quote:
Originally posted by mickeyman
I haven't really looked much at pennies, but I have found that for Canadian nickels, there is a correlation between demographics and good results. The best areas generally are older neighbourhoods with a lot of single-family homes and a known typical residence time of 20+ years (most people have lived in the same home for 20 years. But the local commerce plays a role too. The best areas for coaxing old coins out of jars have a lot of walk-up store fronts. Once the big box stores move in the area becomes flooded in new coin (in Canada that means steel). I have actually seen this at some of the branches where I have been gathering nickels for awhile.
Yes, I definitely agree, my area is just how you described and I get about 27%-44% copper rate! |
HoardCode0.1:M/1USKY:US1Cu35000
Buying and occasionally selling wheat pennies and copper pennies(Sell a lot of silver as well) PM me for more details.
http://coppercave.com
Founded by Natsb88! |
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jpf231
Penny Collector Member
USA
297 Posts |
Posted - 07/03/2008 : 08:12:00
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| I would say I'm at a solid 24-28 % here on the Central East Coast. |
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fb101
Penny Hoarding Member
USA
523 Posts |
Posted - 07/03/2008 : 09:09:17
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| I second JPF231, although some banks in general seem to have a better percentage than others. I thought I would get significantly better percentages of CU from banks which feature coinstars, but that hasn't always proven out. I do think I get a higher % of wheats from banks with coinstars. |
A taxpayer voting for Obama is like a chicken voting for Frank Perdue |
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Tourney64
Penny Hoarding Member
USA
667 Posts |
Posted - 07/03/2008 : 13:55:19
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| You can only look at Customer Wrapped Rolls (CRW) as all others are shipped in. I observe a higher percentage of copper in financial institutions that are in less affluent neighborhoods. |
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knibloe
Penny Collector Member
USA
447 Posts |
Posted - 07/03/2008 : 20:12:23
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| Try more rural areas. Less people, less turnover of coinage. |
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moboman
Penny Hoarding Member
USA
789 Posts |
Posted - 07/04/2008 : 23:17:34
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| The wealthier and the poorer areas of town are the best in my area! The wealthy dont seem to keep them around, because pennies are "worthless". The poor cant afford to. |
"The real art is bringing the greatest good (music) to the greatest number." -- Bob Tucker |
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Is copper % lower in affluent areas?
