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n/a
deleted
3 Posts |
 Posted - 08/16/2007 : 20:07:42
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Where can I sell 1909-1982 pennies for their copper market value $0.0211469 per penny without melting? Is it worth more when melted? SWIM prefers not to melt......I would rather sell the pennies without altering them. But if they are worth more when melted then SWIM wouldn't mind sources for that as well.
I live in Silicon Valley (around San Jose, CA) and prefer to deal pennies closer to where I am. But anywhere far is good too, as long as it offers at least its copper value (the more the better of course).
Thanks!
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Edited by - n/a on 08/16/2007 20:09:25 |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/16/2007 : 21:01:43
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Welcome to the forum Silverbackman.
First off, you mentioned that you had pennies from 1909-1982.
I take for granted you have wheat cents in your hoarde or collection, if I am guessing wrong I apologize.
For the 1909-1958 cents, there is a market for the wheat cents from coin collectors.
for the Wheats, first get a copy of the Whitman Blue Book, the book the dealers rely on, and find out the numismatic price that dealers will pay for the pennies. If the prices are over 3¢ each, sell to a dealer if you wish.
For the 1959-1982 copper, this is a bit tricky since melting them is technically a no-no per the US Mint (though how they would know you did so is beyind me.)
I have not yet tried to sell my cents since the market for copper is still developing.
Now might be the accomulation time and not the time to sell.
Any Ideas on how to help out a new forum member fellow hoarders?
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
3 Posts |
Posted - 08/16/2007 : 22:08:50
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Thanks for the quick reply pencilvanian! :)
Actually most of my coins are between 1959-1982. I thought 1909-1958 is the same up until 1982. What exactly do you mean by wheat cents? Is there a difference between wheat cents and other cents?
Do you have a link to any dealers that will buy pennies for copper? And do I have more opportunity if I melt it (yea, they really can't prove whether something was melted or not).
How effective is it trading your cash for pennies between 1909-1982? When I first looked over my change I found many old pennies that are the copper ones. So will cash registers at local stores be loaded with these the old copper pennies? Will they let you exchange it without trouble?
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/17/2007 : 00:19:12
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I buy copper pennies at 1.35X Face Value. PM me if interested.
M41/0.48USMI:US1Cu160000,CA1Cu282000,CA5Ni30000 |
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Ryedale
Administrator
USA
523 Posts |
Posted - 08/17/2007 : 00:24:17
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Silverbackman
What is SWIM in your post???
Ryedale
Hoard Copper Pennies,
The market will develop |
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n/a
deleted
42 Posts |
Posted - 08/17/2007 : 00:51:49
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quote:
Originally posted by Ryedale
Silverbackman
What is SWIM in your post???
Ryedale
Hoard Copper Pennies,
The market will develop
Single White independent man? My guess. |
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n/a
deleted
42 Posts |
Posted - 08/17/2007 : 00:53:54
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quote:
Originally posted by pencilvanian
For the 1959-1982 copper, this is a bit tricky since melting them is technically a no-no per the US Mint (though how they would know you did so is beyind me.)
Well, if they really want to know, it won't be too hard. Because most recyclers are not well known businesses, but they're no less businesses that the government knows about. The same way you ban alcohol sales to underage, this can be done, whether or not they're willing to do it is the question (or if they're reading our forum, YIKES) |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/17/2007 : 16:58:48
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quote:
Originally posted by Silverbackman
Thanks for the quick reply pencilvanian! :)
Actually most of my coins are between 1959-1982. I thought 1909-1958 is the same up until 1982. What exactly do you mean by wheat cents? Is there a difference between wheat cents and other cents?
Do you have a link to any dealers that will buy pennies for copper? And do I have more opportunity if I melt it (yea, they really can't prove whether something was melted or not).
How effective is it trading your cash for pennies between 1909-1982? When I first looked over my change I found many old pennies that are the copper ones. So will cash registers at local stores be loaded with these the old copper pennies? Will they let you exchange it without trouble?
"What exactly do you mean by wheat cents?"
Wheat cents is the term used to describe pennies minted from 1909-1958 due to the two curved stalks of wheat on the back of the penny.
1959 and up have the Lincoln Memorial on the back (the thing that looks like a trolley car.)
Note: pennies minted form 1909-1942 were 95% copper 5% tin and zinc, pennies minted 1944-1946 were 95% copper 5% zinc, they took the tin out since it was needed for the war effort, pennies minted from 1947-1958 were 95% copper 5% tin and zinc. The 1943 penny was steel and at first glance looked like a dime, sneaky people would pass them off as dimes and make a 9 cent profit.
"Do you have a link to any dealers that will buy pennies for copper?"
I am afraid I don't have a link for buyers of copper, though c140cessna is willing to buy your cents for a decent markup.
Right now coin dealers will want cents/pennies for their collectability, the older and better looking the coin the more they will pay.
Buying for copper content alone is still in its infancy. Patience is the key, wait long enough and the copper pennies will rise in price and buyers will begin popping up. Think of this as the ground floor opportunity to turn a one cent coin into a three or four cent profit given enough time.
"How effective is it trading your cash for pennies between 1909-1982?"
Well, considering our paper money is losing its buying power due to inflation, and due to the fact all paper/fiat money eventually falls to its intrinsic value (zero), trading depreciating paper dollars for copper (copper pennies) or anything that will hold its value is an effective way to preserve one's wealth. Just keep in mind the idea is to trade some of your paper money for pennies/base metals, precious metals, not everything. You will still need paper dollars to pay bills, buy food, etc., physical things bought with paper money now will hold their value and increase in value as the dollar declines.
"So will cash registers at local stores be loaded with these the old copper pennies? Will they let you exchange it without trouble?"
I would not say that cash registers are loaded with coppers, as penny hoarders have started pulling copper pennies out of circulation, though copper cents still turn up regularly, I happened to find one on the ground while out on an errand today.
Check out the section "Sorting Percentages" and see what forum members find from rolls of pennies obtained form banks. The rate seems to be 20% to 30% copper pennies from each roll, though higher or lower percentages do occur.
As always, all of us on this forum are always glad to answer any question that arises.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 08/18/2007 : 16:01:22
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| One word for you silverbackman: Ebay. If i were you, i would hold on to my copper for a while, but if you do want to sell your hoard ebay is a good place to do it. I was watching an auction for a $50 bag of mixed copper cents which sold for $109.28 or $0.021856 per coin. I would suggest that when you do come across wheaties seperate them and as pencilvanian said look up the prices and sell the ones worth more than $0.03 to dealers or collectors or what have you. The rest of them you can sell on ebay in lots. Wheats usually get about $0.03 on ebay. Another word of advice. Sell them by the roll or a few rolls at a time. You'll usually get a bit of a higher price for smaller lots because they are easier to afford. Now completely off subject; I learned during the typing of this reply that my laptop keyboard does not have a cents sign hence all of the $0.03 and so on. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/18/2007 : 18:43:23
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I don't have a cents sign on my keyboard either, but if you hold down the Alt key and press the numbers 1 5 5 on the number pad you get the cents sign to come up. If that fails, just copy and paste the ¢ and post it to a text docoment for future use.
Alt 1 5 5 = ¢
Alt 1 5 6 = £
Alt 1 5 7 = ¥ (Japanes Yen)
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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snappy
Penny Collector Member
USA
301 Posts |
Posted - 09/02/2007 : 22:29:03
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quote:
Originally posted by c140cessna
I buy copper pennies at 1.35X Face Value. PM me if interested.
M41/0.48USMI:US1Cu160000,CA1Cu282000,CA5Ni30000
Next summer if you decide to make a trip/vacation to montana let me know I will sell you my entire collection. They are heavy. (I will help you load some) It will have to wait until next summer so I have time to build my hoard. |
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n/a
deleted
15 Posts |
Posted - 03/22/2008 : 18:09:09
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Well Pencilvania just made it apparent that the market is evolving.
I'm holding for the long run. Besides with this mess in the economy the printing presses are churning out inflation faster than anyone realizes. by 2009 it could be at 4 or 5 cents and the market will take off. Of course 4 or 5 cents will only buy what 1 or 2 cents will buy now. |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 03/22/2008 : 21:00:49
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quote:
Originally posted by lotsofchunks
Well Pencilvania just made it apparent that the market is evolving.
I'm holding for the long run. Besides with this mess in the economy the printing presses are churning out inflation faster than anyone realizes. by 2009 it could be at 4 or 5 cents and the market will take off. Of course 4 or 5 cents will only buy what 1 or 2 cents will buy now.
I speculate that the day will come where we will only use copper, silver and gold...as out current Fiat Dollar will be worthless...and replaced....probably inside of 10 years.
Just my guess...but we currently hav 17%/yr monetary inflation. ?Our money supply is about $15T...China holds nearly $2T...world outside USA holds $4T......they will dump these soon.....also we have $10T current debt (not including $3T war debts)...also $50T in present value of unfunded entitlements (assuming a very optimnistic 3.5%GDP going forward).
Bottom Line: If we had to square the books today....our $15T money supply would be swamped with and additional $67T....thus at a minimum....20% of current value....and that assumes the currency market would only treat the devaluation in a linear nature...and it will not....
There are many other factors...but start thinking about our dollar heading for less than 20%....proabaly 10% of current value.
This is the result for nearly 100 years of money masters that control the Private Federal Reserve Bank loading the American people with the "Invisible Tax" of monetary inflation. Facilitated via corrupt and stupid politicians.
Have you kissed your banker lately?!? |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/22/2008 : 22:31:27
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Silverbackman,
Welcome to the forum. Regarding melting. The copper market value is probably not what you would get if you melted your collection. Refiners don't pay market price for copper they buy it well below market. They need to make a profit too. Also the government can tell if you melt down you pennies. There is a test they can conduct that tells the percentage of alloy in the metal and it is quite accurate. Smelting is also not an easy process and to be profitable you would need Huge quantity. You may have your best results dealing with other collectors from here. Try the buy sell trade section.
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/22/2008 : 23:19:20
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LMAO! WD, silverback joined in 07 and only posted 1 day
D |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/25/2008 : 15:42:57
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I wouldn't melt my pennies anyway.. why do that when you have a government issued round of known weight and fineness? If someone were doing it illegally though, I'm sure they would throw some extra copper scrap in the mix to adjust the alloy percentages.
Hey, Silverbackman lives near me. I wonder if I already buy pennies from him. |
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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Where Can I Sell Pennies For Its Copper Value?
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