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Ryedale
Administrator
USA
523 Posts |
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n/a
deleted
42 Posts |
 Posted - 08/15/2007 : 14:57:52
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quote:
Originally posted by Ryedale
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Ryedale
Hoard Copper Pennies,
The market will develop
This is the kind of news I hate to hear. That protecting the penny becomes in some way the interest of the Zinc industry. Why can't we keep the penny for the sake of the penny? It's red herring to turn it into an argument about metals. But its inevitable. If only more Americans can wake up and speak up about it. |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/15/2007 : 20:08:02
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I see steel in our future. It seems to work pretty well in the Canadian coins I search....but they do not hold up as well as the zincs.
FYI: I've started building a hoard of zinc boxes if they are MINT/BU...figure they will have a good numis play later on...as well as they are close to being "sound" right now from an intrinsic metal play. If we go to steel coins...I might even start hoarding the zincs...but it gets expensive at the pace I'm setting....about triples my hoard costs since in my area it is 30% Cu / 70% Zn.
I always think we will regret returning those zincs.....someday...
M41/0.48USMI:US1Cu160000,CA1Cu282000,CA5Ni30000 |
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n/a
deleted
42 Posts |
Posted - 08/16/2007 : 00:32:54
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quote:
Originally posted by c140cessna
I see steel in our future. It seems to work pretty well in the Canadian coins I search....but they do not hold up as well as the zincs.
FYI: I've started building a hoard of zinc boxes if they are MINT/BU...figure they will have a good numis play later on...as well as they are close to being "sound" right now from an intrinsic metal play. If we go to steel coins...I might even start hoarding the zincs...but it gets expensive at the pace I'm setting....about triples my hoard costs since in my area it is 30% Cu / 70% Zn.
I always think we will regret returning those zincs.....someday...
M41/0.48USMI:US1Cu160000,CA1Cu282000,CA5Ni30000
Nothing wrong with hoarding mint/BU, I just don't have patience myself for it. The way I see it, I won't waste time with zincs, because with little effort I can get copper that's worth twice their value. |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/16/2007 : 08:28:24
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This same article is being picked-up and published all over the net....just saw it over at Kitco.com ......that is very mainstream in terms of PM/BM world. Also, just this morning I saw the same thing reported on 2 local Detroit TV news reports.
People will become more aware of the value of both copper and zinc pennies...but I do not think there will be widespread hoarder increase due to this. We will probably have to see 5X Face Value AND the ability to scrap the coins before very many get interested. Most folks just can't imagine sorting several hundred $ per week....
All just my opinion....
M41/0.48USMI:US1Cu160000,CA1Cu282000,CA5Ni30000 |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/16/2007 : 18:36:25
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quote:
Originally posted by c140cessna
I see steel in our future. It seems to work pretty well in the Canadian coins I search....but they do not hold up as well as the zincs.
Don't forget, most coins form South America, the one cent and five cent Euro coins, and the Chinese one Yuan coin are all steel or are copper/brass plated steel. Looks like steel is gradually becoming tne metal of choice for coins.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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n/a
deleted
43 Posts |
Posted - 08/17/2007 : 10:11:41
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quote:
Originally posted by c140cessna
We will probably have to see 5X Face Value AND the ability to scrap the coins before very many get interested. Most folks just can't imagine sorting several hundred $ per week....
I agree that 5X face value will be pivotal. Also, changing from zinc to steel will be pivotal, although if the steel is copper plated then most people will not realize the significance of the change. At 5X face value it won't be necessary to melt them - they will start trading on Ebay more easily at that value. When pre-1965 silver was 4X face it traded easily on Ebay. JMHO |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 08/19/2007 : 01:30:15
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The only way I can see a non-mint box zinc play making sense is in a severe (e.g. EMP) SHTF scenario where a lot of mines go totally out of production, because zinc oxidizes alot faster and so would disappear first and faster than other industrial metals.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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Jarden Lobbies to Protect the Penny
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