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89gt-stanger
Penny Sorter Member
USA
59 Posts |
 Posted - 07/21/2009 : 10:08:40
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I am sort of new to the whole copper hoarding thing. I bought a box a while back and yielded 650 pre-1982 pennies. Ideally, I would like to build my copper penny bullion as best as I can.
I have about $125 to spend on this right now.
Should I either buy 50 lbs of 1959-1982 pennies (about 7300-7500)
or
Get 5 boxes from the bank? I would be sorting by hand.
Also, do yall think I should roll them by year? I thought that would be a cool way of sorting.
Any thoughts or criticism is welcome.
Thanks!
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 07/21/2009 : 10:52:28
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My question is: are you more concerned about speed or cost? If you want to accumulate copper quickly then buy them pre-sorted. But if you want to get as much copper as possible for your $125, then buy the five boxes from the bank. When you sort through them, you can dump your zincs and use the money to buy more boxes/rolls.
Considering that we only have a limited amount of time (edit) to acquire copper pennies, don't worry about sorting them by year yet. Focus on building your stash for now. You can always sort by year later.
Good Luck. |
Edited by - theo on 07/21/2009 12:20:59 |
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89gt-stanger
Penny Sorter Member
USA
59 Posts |
Posted - 07/21/2009 : 11:16:54
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| How long do am I going to be able to go get a box and yield 20-25%? |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 07/21/2009 : 12:39:39
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It's hard to say. As people begin to lose trust in the dollar, they will keep their change more often (especially nickels and copper pennies) causing our percentages to decline.
Also there have been fears/rumors that coin supply companies like Brinks and Loomis (not to mention the U.S. Gov't) might start pulling the copper pennies out of circulation themselves. I don't think there is any real evidence that it is happening now, but its always a possibility. This would decrease our percentages much faster.
Of course the other side of the the coin (pun intended) is thast due to the failing economy, many people are cashing in their coins. In some cases these coins have been sitting in someone's basement for years or even decades. This has actually increased copper % in many areas. In fact its not unheard of to get a box that yields 80%, 90% or even 100% copper. Of course these are balanced out by skunk boxes, which yielding little or no copper.
The bottom line is that we have have anywhere from several months to several years to enjoy our current percentages. |
Edited by - theo on 07/21/2009 12:41:10 |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/21/2009 : 12:46:17
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If you have the time, I would keep hand sorting. You mentioned getting 26% yield, which isn't bad compared to what others are getting. Maybe just up your orders and increase your sorting activity.
Have you set any goals for hoarding? That will help you decide the best course of action. If your goal is to have 100K copper cents hoarded by the end of the year, then you can calculate how many boxes you need to do per week based on say 25% yield. If you don't think you have time to do the # of boxes you calculated, then do both box sorting and buying presorted on the side to achieve your goal. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 07/21/2009 : 13:03:21
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| The question is how quick you what to build your hoard. I say do both buy presort and by some to sort through. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/21/2009 : 13:05:52
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quote:
Originally posted by dakota1955
The question is how quick you what to build your hoard. I say do both buy presort and by some to sort through.
Not a bad idea with the low copper prices right now. I haven't looked on EBay since I still do mine by roll searching, but there are probably some decent deals out there to be found. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 07/21/2009 : 13:40:54
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It all depends on what you think is more important Money or Time.
You'll ultimately spend very little time buying presorted pennies, it's safe easy and there's enough of us out there that you can always find your next seller.
If Money is more important, then you'd do better spending the time handsorting, going to the banks (and repeat) as often as you can.
Welcome to the forum,
~ JobIII
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Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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dp2007
Penny Pincher Member
130 Posts |
Posted - 07/21/2009 : 15:30:50
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| If all you plan on accumulating is $125.00 worth just take your time. Do it by hand. The copper will be there for awhile longer. |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 07/21/2009 : 15:42:51
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keep in mind that people have been talking about the mint ban being lifted & the limited window to pull copper pennies for years.
I'm not saying that either event happening isn't imminent, but something you should be aware of. Will it happen within this year, next year, next 5 years, next 10 years? Who knows. |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 07/21/2009 : 16:09:51
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Something that needs to be kept in mind. How easily can you get pennies in quantity. If your driving long distances to acquire and dump, the gas spent could be more than the added cost of just buying them in bulk already sorted.
If you can get them easily enough, I would sort my own. It is actually relaxing. Plus you can hunt for IH's, wheats and Canadian kings. Dimes, especially in CWR's are actually not uncommon, another bonus.
A box can be sorted in about 1-1.5 hours. You could accumulate 50 pounds in no time at all.
Just my 2¢
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 07/21/2009 : 16:24:09
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No one has mentioned the insanity you get from sorting by hand.
The time spent peering at countless coins as you look at each one by one.
The truly mind numbing time you spend want to keep going on and on.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 07/21/2009 : 23:27:20
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Just my personal opinion ... but I really enjoy hand sorting. But that's because I look for BU coppers, mint errors, wheaties, and though I haven't found one yet, IHs.
There is a kind of neat thrill to find a wheatie or better yet, a 'saleable' error. I recently found one AU 1984 double die obverse which my coin dealer purchased for $70.00. That 70 bucks will buy me 140 rolls more to sort through.
If you buy rolls and sort, as has been suggested by others, you can get more rolls with the Zincolns you return. Take your time and enjoy a great hobby! 
sheba |
woof ... wag ... whine |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/21/2009 : 23:33:48
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quote:
Originally posted by sheba
Just my personal opinion ... but I really enjoy hand sorting. But that's because I look for BU coppers, mint errors, wheaties, and though I haven't found one yet, IHs.
There is a kind of neat thrill to find a wheatie or better yet, a 'saleable' error. I recently found one AU 1984 double die obverse which my coin dealer purchased for $70.00. That 70 bucks will buy me 140 rolls more to sort through.
If you buy rolls and sort, as has been suggested by others, you can get more rolls with the Zincolns you return. Take your time and enjoy a great hobby!
sheba
I agree. The hour or so it takes me to sort a box is a nice break from every day life. I either put some good tunes on in the background, or turn the tv on in the background and go at it. I like the thrill of the hunt, the excitement of finding a good roll or another wheat cent (or the occasional IHC!).
I get my boxes from my main bank in the next town, but I have to go there often anyway for business so it's not out of my way. For dumping, it's a total of 2.4 miles round trip to my credit union. So the time and expenses of acquistion, sorting, and dumping are minimal to me. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 07/22/2009 : 06:07:24
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1. Find bank bags.
2. Sort.
3. Return zincs.
4. Sell/Store coppers.
5. Repeat
Simple.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 07/22/2009 : 06:13:54
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Oh yeah, I was a hand sorter before I saw the light and got a Ryedale. I never thought I would ever need or want a Ryedale. My only regret about getting a Ryedale is that I waited longer to get it than I should have and I missed out on a few things because of my delay....
Deal
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Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 07/22/2009 : 15:47:31
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Deal,
What things could you possibly have missed sorting a ton of pennies? Sure your kids first steps, first day of school, your sports team winning the championship... These are all going to be documented and recorded, they can wait. Copper supplies are limited
I often wonder what this hobby would be like if I no longer every waking moment sorting by hand.
~ JobIII |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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Bank boxes or buy pre-sorted?
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