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deleted
19 Posts |
 Posted - 07/19/2007 : 10:35:35
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Howdy copperheads. Here's my deal. Ever since I started hoarding pennies I've had this back and forth struggle with hoarding being practical or a waste of time from an investment view. i've read lots of good arguments pro and con with mostly pro obviously being here. But I've also read other places that have this debate as well with a bit more con. So I've gone from intense sorting to stopping when my opinion changed, not like I am with precious metals which in my mind is 100% pro. I came acroos a post a post on the kitco silver thread a day or two ago from someone in Austrailia who was envious of us americans for the oppourtunity we have with pre-82's. she went on to explain similar storys with coins in the past with melt values then hoarding then etc..bottom line great investment. I do accept the fact that it will take a bit longer for our pennies to skyrocket but I think I am finally convinced that this is a good idea. It will be very helpfull when word starts to get out and percentages go down as to an indicator of interest and at that moment will be very cool and a vindication that we were waaayyyyy ahead of the pack..very cool in fact. No one will laugh at us anymore, well they may still laugh but for other reasons.lol.
My mind is finally totally convinced that nickles are not worth it. Main reason is the melt down difficulty of seperating the nickel out. Unless they come up with a better method which I doubt. I have since turned in my boxes of nickles for this reason.
So now it's physical silver, gold and pre-82's. hope you all are well and of good spirit. peace, cheers and blessings my brothers and sisters.
Michael from Atlanta.
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 07/19/2007 : 10:46:50
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Hoarding anything is way to speculative. I used to do this and found that the same money in stocks is much more profitable. A pile of just coins is only worth metal weight and draws no interest and if the prices of metals drops, so does your profits. The valuable coins for collecting have not dropped in price over many, many years but as you know metal prices go up and down and up and down. You could be sitting on $10,000 worth of pennies by weight and suddendly worth half that. Even in a bank there is always interest and guaranteed by the USGovernment. My stocks have gone up almost 500% in the last few years. How much has metal gone up?
Carl |
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19 Posts |
Posted - 07/19/2007 : 10:54:23
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| Hey, just Carl, 500%? holy macarroni! So...got any stock tips..seriously. Wow a hoarder non- believer. gotta have that balance for all us pollyannas. |
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 07/19/2007 : 11:17:18
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Nice going Carl, if you are getting that kind of results in the stock market please feel free to post about it. I'll even open up a new "penny stocks" forum for you.
****************
Fanaticism is doubling one's efforts, yet forgetting one's purpose.
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 07/19/2007 : 12:22:09
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Just Carl -- Please share your investing tips. If I could at least double my investments every couple of years, maybe I could actually dream of retirement.
Regarding hoarding, I think it prudent to have physical silver, gold, and copper on hand for a SHTF situation. I do not neglect the retirement accounts which I consider true "investments." I don't think we will have Armeggedon or some other apopalyptic event, but another Depression is possible. I want to keep me and my family out of the soup lines. To do that, one needs to have at least a few acres, have a garden and a pig or three (or cows, goats, rabbits, whatever protein you like), and have some commodity metal for money. I, like many in this forum, am a survivalist.
I think copper pennies will trade similar to gold and silver in a non-apopalyptic type SHTF scenario. Copper pennies would make good change for the silver dimes and quarters that get traded. So, having a few bags of copper pennies on hand is a prudent thing in my opinion. Plus, you get to find some wheat and perhaps the all elusive 1909 VBD(? are those the correct initials?) along the way.
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Ryedale
Administrator
USA
523 Posts |
Posted - 07/19/2007 : 13:38:26
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I got a 1924 D wheat penny that I paid a penny for. Sells on ebay in most any condition for 25 to 35 dollars. What is that percentage?
Ryedale
Hoard Copper Pennies,
The market will develop |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 07/19/2007 : 23:39:37
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I got a 1909-S VDB in XF (a coin even Carl could love) in a small baggie of wheat cents I paid 3 cents each for. I think the percentage return on that one was pretty good.
On the hoarding, I say it is good to diversify. You should have some PM, some BM, some numismatic coins, and some stocks in your portfolio. Sorting and hosrding are two different things. Most of us do both, but you could elect to do just one if it suited you better. You could sort and sell off your copper rather than hoard it. Or you could just buy the copper that others have sorted and build up your hoard.
"Preserving coinage.. 2 tons at a time"
HoardCode0.1:M48/14USCA:US1Cu639700:US5Ni2400:CA5Ni46 |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 07/20/2007 : 18:42:09
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| I agree with Carl, you are losing out on opportunity costs by hoarding all those copper pennies. I'll take them off your hands at face value so you can invest in the stock market. |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 07/29/2007 : 09:49:59
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Hey don't get me wrong as to the value of coins. I have been extreamely lucky in the stock market lately but just as in 1929, you never know about tomorrow. I've also been coin collecting for well over 50 years and even when times are bad, I've never seen coin prices deminish. I go to anywhere from 2 to 4 coin shows a month and as I said I've never seen coin prices go down. Stocks, yes, coins no. As to finding rare ones in change, you can't beat that with any mormal investment. An 09S VDB in change! WOW. Now that is about a 10,000 or more times investment anywhere. The 24D Lincoln mentioned would go for from $14 to $425 pending condition at a coin show. Another great, great find. Keep on looking. Lots more out there.
Carl |
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NiBullionCu
Penny Pincher Member
USA
168 Posts |
Posted - 07/29/2007 : 17:08:20
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justcarl said:
I go to anywhere from 2 to 4 coin shows a month and as I said I've never seen coin prices go down.
Well carl, if you've been collecting coins for 50 years, you haven't been paying very close attention if you've never seen coin prices go down. They fluctuate, just like anything else.
I'll cite the 1921 Peace dollar as just one example.
From the site: You must be logged in to see this link.
1921 Peace Dollars Historical Value Trends
Mintage: 1,006,473
Year F-12 VF-20 XF-40 AU-50 MS-60
1950 1.50 1.75 2.50 3.00 4.00
1955 1.75 2.25 3.25 4.50 7.50
1960 3.25 4.00 5.00 7.75 12.50
1965 12.50 15.00 18.50 22.50 35.00
1970 12.00 15.00 20.00 25.00 40.00
1975 20.00 22.50 32.50 50.00 100
1980 25.00 30.00 40.00 75.00 250
1985 27.50 32.50 45.00 60.00 250
1990 25.00 30.00 40.00 50.00 125
1995 25.00 30.00 40.00 75.00 100
2000 35.00 42.50 50.00 90.00 125
2003 52.50 60.00 70.00 100 175
2006 100 125 135 175 275
If you bought a 1921 Peace dollar in MS-60 in 1985 for $250
15 years later, in 2000, you would only be able to get half your money ($125).
There are many more examples.
So the up-and-down roller coaster exists for coins also.
Of course if you bought that coin in 1950 for $4 your 2006 compounded return is 7.7%
Good but not great. (If you bought it in 2000 for $125, your 2006 compounded rate is 11.9%).
Both a far cry from the 500% Carl claims he is getting in the stock market... :-O
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manic penny syndrome leanin to yes..
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