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Farmall
Penny Pincher Member
USA
112 Posts |
 Posted - 11/15/2009 : 09:56:51
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I've notice memebers talk about higher percentages in different parts of the country. Why and how does this happen?
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 11/15/2009 : 10:44:47
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I have not heard that... most people I think are reporting finding around 20% copper on average. In my opinion the percentage of copper pennies in circulation is, in large part, directly related to the economy. In short, the more people are hurting for money the more they are emptying their piggy bank or searching to dig out all the coins they can find and turn them in to the bank to pay bills and live!
Below is a good overview of how the money flow works:
As the nation's central bank, the Federal Reserve issues and processes Federal Reserve notes. The Federal Reserve also distributes coin through depository institutions. The 30 Federal Reserve Bank cash offices provide cash services to approximately 9,400 banks, savings and loans, and credit unions in the United States. The remaining depository institutions obtain currency and coin from correspondent banks rather than directly from the Federal Reserve.
The amount of currency in circulation depends on the public's demand for currency. Domestic demand largely results from the use of currency in transactions and is influenced primarily by prices for goods and services, income levels, and the availability of alternative payment methods.
The Federal Reserve's role in coin operations is more limited than its role in currency operations. As the issuing authority for coins, the United States Mint determines annual coin production. The Reserve Banks, however, influence the process by providing the Mint with monthly coin orders and a 12-month rolling coin-order forecast. The Mint transports the coin from its production facilities for circulating coin in Philadelphia and Denver to all of the Reserve Banks and the Reserve Banks' coin terminal locations.
The Reserve Banks distribute new and circulated coin to depository institutions to meet the public's demand. While the Reserve Banks store some coin in their vaults, they also contract with coin terminals to store, process, and distribute coin on behalf of the Federal Reserve. Armored carrier companies generally operate the coin terminals; the coin terminals have improved the efficiency of the coin-distribution system.
Sources:
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/15/2009 : 11:04:28
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Regional variances have been discussed in past threads. The concensus was that it was related to the ecomomy of a given area and the demographics of the local population. Economically depressed areas tend to not have as many new coins introduced by the Fed and have more folks actually recirculating their pennies from their piggy banks which results in a higher percentage of copper in circulation in that area. Places with a more robust local ecomomy have more new coins introduced to support that economy and also have less folks actually emptying their penny jars, hence a lower copper percentage. Typical percentages run about 20%, but MI and Maine run about 30 and WI, IN & IL are probably around 25. Atlanta runs about 13-15% and I think AZ is something like 15-17. Many members actually saw increases in their copper percentages over the last year due to the direness of the economy. Your mileage may vary. Most of us can't change the geographic area we source our pennies from, so whatever the percentage is in your area, that is what you get. The solution.. "just sort more."  |
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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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 11/15/2009 : 11:25:02
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| Here in SC the average is 22.5%. I wish it was higher, but when I see numbers in the teens, I am grateful. |
You don't have to be the BEST you just have to be.......SLICK
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/15/2009 : 11:27:06
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| Many folks would be happy with 22.5%. It is only 20% in CA. |
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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Farmall
Penny Pincher Member
USA
112 Posts |
Posted - 11/15/2009 : 14:47:12
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| Thanks for the info. Here in western Oklahoma I'm averaging right at 20 percent |
PACK THE FORUM EVERY MONDAY NIGHT
Eastern 9 PM
Central 8 PM ( Forum Time )
Mountain 7 PM
Pacific 6 PM ( HCBTT Time) |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/15/2009 : 15:00:09
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| We have a real advantage in Canada because copper pennies were made until 1996 compared to 1982 in the USA. I have not checked lately but I've been as high as 50%. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Farmall
Penny Pincher Member
USA
112 Posts |
Posted - 11/15/2009 : 15:52:04
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quote:
Originally posted by jadedragon
We have a real advantage in Canada because copper pennies were made until 1996 compared to 1982 in the USA. I have not checked lately but I've been as high as 50%.
WOW 50%?!?!?!. That is an advantage. Are there U.S hoarders that cross the border to bring back pennies? |
PACK THE FORUM EVERY MONDAY NIGHT
Eastern 9 PM
Central 8 PM ( Forum Time )
Mountain 7 PM
Pacific 6 PM ( HCBTT Time) |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 11/15/2009 : 16:09:26
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| 15-16% consistently in Atlanta and suburbs. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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AgMan
New Member
23 Posts |
Posted - 11/15/2009 : 16:27:47
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| In Missouri, I am averaging just under 21% I've had a few boxes higher than 25%, but most are right around 21% |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 11/15/2009 : 16:31:46
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| Here in the dakotas the % were close to 30 but they are dropping. But last week I had a $50 bag that was 100% copper and one moe bag that was 90%. Hope to get more of them as a person is cashing in a 100 gallons of pennies. |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 11/15/2009 : 16:35:49
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| Los Angeles %'s are pretty low imo. Sometimes I just wanna sidekick my teller. |
PACK THE FORUM EVERY MONDAY NIGHT
Eastern 9 PM
Central 8 PM ( Forum Time )
Mountain 7 PM
Pacific 6 PM ( HoardCopperByTheTon Time)
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george454
Penny Pincher Member
242 Posts |
Posted - 11/15/2009 : 16:54:19
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| Here in Florida they generally run from 20-25% (boxes) however I have hit a couple of loads from a retirement home that were solid coppers 20+ rolls to be exact. I love it when I go into pick up some boxes and the teller tells me we have enough rolls to make a box someone brought in a bunch of rolls. If you are having trouble getting good % in boxes this is what I would suggest find a bank that gets a lot of rolls from regular customers, they seem to be better for me. I don't gripe much about the percentages were else can you find bullion for less than face value on a very consistent basis. |
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 11/15/2009 : 17:37:52
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| here in vermont I have been running anywhere from a low of 22% to a high of 43% per box for bankrun pennies...over the last two weeks I have done 12 boxes and the average was 35%...those figures include the canadians which usually run about 5%. |
visit www.crazycoinguy.com
for information on how to sort, what to sort, and sorting equipment. We also sell copper pennies in bulk, and other coins. |
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Investin Cents
Penny Pincher Member
USA
129 Posts |
Posted - 11/15/2009 : 19:13:24
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| HCBTT is about right on the Illinois percents, though mine were a bit higher this last summer - 4 bags netted me just under 32%. But 4 recent bags by their weight will come in about 25%. So my averages will come back down to near that 25% area. I am in essentially south-central IL. |
Most recent book I've read: "Meltdown" by Thomas E. Woods Jr. Current book: "I.O.U.: Why Everyone Owes Everyone & No One Can Pay" by John Lanchester |
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twocents
Penny Collector Member
398 Posts |
Posted - 11/15/2009 : 22:51:12
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quote:
Originally posted by Investin Cents
HCBTT is about right on the Illinois percents, though mine were a bit higher this last summer - 4 bags netted me just under 32%. But 4 recent bags by their weight will come in about 25%. So my averages will come back down to near that 25% area. I am in essentially south-central IL.
I am west of Chicago, and I am getting 29.9% out of every box without variation. |
Just my two cents! |
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chris6084
Penny Collector Member
303 Posts |
Posted - 11/15/2009 : 23:12:39
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| San Antonio and Austin are just over 12%. If I go a little farther north to Waco, every box I have picked up from there is around 30%. Amazing how big of a difference the are, but I think Waco gets their coins from Dallas. |
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ronin
Penny Sorter Member
USA
36 Posts |
Posted - 11/16/2009 : 16:03:43
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| Another one about 35 miles west of Chicago, and over my first 40 boxes, I'm sitting right at 29.95%, from 8 different banks. I get my boxes two at a time from whatever bank I happen to be near during my driving around each day. I do much better with String boxes than with Brinks on average, but with that said my two best boxes (34% and 36%) were both Brinks. I'm also getting 14 Wheats and 6 Canadians per box on average. Haven't seen an Indian yet in 40 boxes, but I'm sure I will sooner or later. |
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 11/16/2009 : 16:29:24
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| I'm only a small time hand sorter but I average around 30% per box over my last 12 boxes, I get consistantly 30% or more on CWI boxes and between 25-28% on brinks boxes. I'm located 10 miles west of Boston. I think most of the pennies in the northeast stay in this area and are actively cycled through the boston fed branch consistantly. We are not getting a lot of newer zincs introduced in this area as compared to other areas of the country. |
Edited by - Mikep2020 on 11/16/2009 16:30:25 |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 11/16/2009 : 16:43:46
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| you guys are lucky. i have to do a whole bag to get as many as you get from a box. i guess i should consider myself fortunate for being able to buy bags and dump in bags. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 11/17/2009 : 13:01:20
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| Check out the map linked in my signature. |
Sorting Map
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Cerulean's Standing Offer: $3/lb shipped for foreign coins |
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Higher copper percentages in different area?
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