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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
 Posted - 09/18/2009 : 11:17:03
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I went to my local coin store yesterday. I sometimes go in there to see if I can get a good deal on silver (sometimes they write the price on coins on a day when silver might be lower and sometimes I've gotten coins for below current melt value on a day when silver is higher).
However, they do not seem too big on copper bullion or copper bullion investing. I often take in wheat pennies or some of the indian head pennies I have found to get their opinion on the grade and value.
They ask me where I find these pennies and I have told them that I do sort through change at the bank. However, they don't seem to think its worth hoarding the common date memorial copper cents. The coin store owner told me they don't even pull them out of circulation when they come across them in change.
When do you think the coin stores will get more on board with copper bullion investing or even selling sorted copper cents?
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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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twocents
Penny Collector Member
398 Posts |
Posted - 09/18/2009 : 11:34:49
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| They will pull them when they can make money off of them. The price of copper will have to be higher first. Also, there will need to be regular buyers. Most of us hoard as a hobby with a future goal of turning our hoard into more money than we put into it. Coin shops need to turn to earn. If they can't turn them, then they won't waste time on separating them. I would guess a copper cent would need to be worth 5 cents or more and be considerably drawn down out of circulation before commercial shops will touch them. |
Just my two cents! |
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Coin stores and Copper Pennies/Bullion
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