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giddyup99
Penny Pincher Member
USA
154 Posts |
 Posted - 08/13/2009 : 21:48:03
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Just curious what you guys think. At what sorting percentage does this become not worth doing? 10%? 5%? I suppose it would make a difference at what price copper was at so just use today's price as the reference.
I've hand sorted about $300 worth. I'm over halfway up a 5 gallon bucket, but if I was only adding about a $1.00 face or so for each box I cracked, I would have to seriously consider spending my time another way.
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Experience is what you get when you don't get what you want. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 08/13/2009 : 21:51:19
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| I would think if it got to a point you are finding only $1 face, copper prices will be much higher than now and it will still be worth it.... |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 08/13/2009 : 22:01:23
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| If it gets that bad, even zinc might be worth the FV. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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giddyup99
Penny Pincher Member
USA
154 Posts |
Posted - 08/13/2009 : 22:06:51
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| Inevitably it has to get that bad, doesn't it? We can't always get 20-30% with no new coppers hitting circulation. |
Experience is what you get when you don't get what you want. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 08/13/2009 : 22:53:36
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Edited! quote:
I've hand sorted about $300 worth. I'm over halfway up a 5 gallon bucket, but if I was only adding about a $1.00 face or so for each box I cracked, I would have to seriously consider spending my time another way.
Another thing you might consider is looking for the well known errors ... 1983 DDR, 1984 DDO, 1995 DDO, and the 'wide' and 'close' 1992 P & D and 1998-2000 ....just to mention a few. Even if the copper percentage falls off, these are run to look for and 'rewarding' to find.
There are also a host of other 'errors' that would make continued sorting well worth while ... such as, for example, a 'Zincoln' the doesn't have the copper covering.
I've been hand sorting for a few months and besides a growing 'hoard' of copper, have found two 1984 DDO and one 1998 D with no copper coating on either side. These three coins alone, netted me $150 from a local, honest coin dealer.
I would encourage you to 'keep on' ... unless you have family and job responsibilities that are being let 'slide', keep sorting! 
sheba |
woof ... wag ... whine |
Edited by - sheba on 08/13/2009 22:58:53 |
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chris6084
Penny Collector Member
303 Posts |
Posted - 08/13/2009 : 22:54:08
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| I get about 12%-15% in my area, so 10% is not a big difference...not enough to make me stop. If it got much less than that, it would have to depend on the selling price of copper pennies. |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 08/13/2009 : 22:55:07
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| What I mean is that if the price of copper goes up so much that all the copper gets pulled, the price of zinc will probably be high enough to reach melt-value/face-value parity. So at that point, its worth it to buy pennies no matter what the percentages. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 08/13/2009 : 23:29:34
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If it get down to 10% it would probably no longer be worth sorting. Of course for those who already own ryedales it would not take a high percentage to continue.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/14/2009 : 02:23:38
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Since all the Ryedales and other machines are already paid for.. I guess the percentage would have to get really low.. like 1%. We would keep hoping to strike it lucky.. like we do when we buy a bunch of clad coins to sort and hope to find some silver.
Of course as the percentage drops the price would probably go up as the perception that they are scarce would increase. Just on you posting this the price of copper has soared to 1.9 times face! Of course actual trades still occur well below melt. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 08/14/2009 : 10:49:02
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Sheba,
Any good tips at looking for these errors or any good references to learn how to look for them? Its hard when you have never seen an error to pick it out especially on the wide AM. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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SANITARIUM_INMATE
Penny Pincher Member
211 Posts |
Posted - 08/14/2009 : 10:53:26
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quote:
Originally posted by PennySaved
Sheba,
Any good tips at looking for these errors or any good references to learn how to look for them? Its hard when you have never seen an error to pick it out especially on the wide AM.
Try checking out coppercoins.com you can search by date and mintmarks |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 08/14/2009 : 10:54:44
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I also had a question with regards to how much time you spend looking for errors.
I probably get over a $100 a week in pennies and hand sort them and then re-wrap them. I'll admit I'm a little behind on the re-wrapping to turn back into the bank. I feel I barely have enough time as it is to be pulling the wheats and all the coppers out let alone look for errors.
If you are on limited time. Is it better to get fewer pennies and make sure you take the time to look for errors or is it better to be picking up more pennies and just bypass the zinc errors and keep looking for Copper, Wheats, and the occassional indian head. Let alone the dimes and foreign coins. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/14/2009 : 17:14:10
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Sort untill all the copper is gone. Then on to the next sort....
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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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 08/14/2009 : 17:58:36
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| NotABigDeal then you don't look for error Zinc cents? |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 08/14/2009 : 19:34:54
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quote:
Originally posted by PennySaved
I also had a question with regards to how much time you spend looking for errors.
I probably get over a $100 a week in pennies and hand sort them and then re-wrap them. I'll admit I'm a little behind on the re-wrapping to turn back into the bank. I feel I barely have enough time as it is to be pulling the wheats and all the coppers out let alone look for errors.
If you are on limited time. Is it better to get fewer pennies and make sure you take the time to look for errors or is it better to be picking up more pennies and just bypass the zinc errors and keep looking for Copper, Wheats, and the occassional indian head. Let alone the dimes and foreign coins.
This would be a personal choice. I too hand sort and I really enjoy looking at each and every coin and have found a few errors. Mainly, I enjoy getting the wheat cents and keep hoping (I know, I'm NUTS) that someday I too will find an IH in a roll.
So, do whatever you enjoy with this hobby. That is what is most important, IMO.
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 08/14/2009 : 22:44:59
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quote:
Any good tips at looking for these errors or any good references to learn how to look for them? Its hard when you have never seen an error to pick it out especially on the wide AM.
Hi 'pennysaved',
I recommend the following web site You must be logged in to see this link.
It is, IMHO, an excellent site with great photos of many, many kinds of Lincoln errors .... specially the major ones. Studying the photos is a great way to start learning what to look for. I do want to add that I am 'very far' from being an 'error' expert. There are a few well known dates in the Zincoln series, as mentioned already, that are the ones I specially look for.
Hope you find a lot of great error coins! 
sheba |
woof ... wag ... whine |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 08/14/2009 : 23:33:40
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quote:
Originally posted by PennySaved
NotABigDeal then you don't look for error Zinc cents?
I feel that any zincs in my bags are error coins....they should not be in there.... and i kindly take them back to the bank. |
You don't have to be the BEST you just have to be.......SLICK
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n/a
deleted
84 Posts |
Posted - 08/15/2009 : 09:53:15
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| Keep in mind that's there's much more than bullion hoarding to this hobby; as sheba noted, there's the errors to search for, there are the old designs (IH, buffalo nicks, etc.), there's folder-filling, etc. I'm a casual sorter, but I've bagged a blank zinc penny planchet, lots of silver nickels, a bunch of silver halves, a few buffalo nickels, a steel wheatie, a bunch of normal wheaties, and a few silver dimes. The only thing I haven't searched from the bank is quarters, because I figure the silver percentage is way too low and there aren't any really cool varieties to look for, IMO. |
"Truth is treason in the empire of lies." -Ron Paul, from _The Revolution: A Manifesto_ |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/15/2009 : 11:51:13
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quote:
Originally posted by PennySaved
NotABigDeal then you don't look for error Zinc cents?
Nope. I have WAY too many zincs for that, and not near enough time. The copper keeps me busy enough, for now....
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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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 08/16/2009 : 14:13:06
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If I get a ryedale I wouldn't stop till it's under 1% otherwise I will stop at 5%.
Still getting about 28% though. |
Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
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At what point is sorting "not worth it"?
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