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2old
Penny Pincher Member
188 Posts |
 Posted - 11/17/2009 : 10:32:11
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I have been saving my Canadian cents, mixed, in a one quart yogurt container. It finally got full, so I ran it through to sort the copper out and separate it. YIKES, at least 80% was copper and that that was not, had very old (1940's) coppers mixed in with it.
Is anyone sorting in Canada, if so, what percentages are you getting.
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/17/2009 : 12:17:40
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| I sort in Canada and I do not get 80% copper (would be nice). I get better copper yields on the US pennies I find then others report on the board. I think it has to do with coin velocity |
“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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2old
Penny Pincher Member
188 Posts |
Posted - 11/17/2009 : 12:37:06
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quote:
Originally posted by jadedragon
I sort in Canada and I do not get 80% copper (would be nice). I get better copper yields on the US pennies I find then others report on the board. I think it has to do with coin velocity
I am not sure what you mean by velocity. And. So, I can quit packing my bags and planning a trip to Canada to bring back your cents? So what happened to all of your coppers? When I look at the mintages, it appears they could have not replaced all their cents since 1996. Could you share with us your percentage yield on Canadian cents. Are you sorting with a Rydale? |
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JP_007
Penny Sorter Member
USA
58 Posts |
Posted - 11/17/2009 : 16:47:35
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| Not sure where you are from, but I have found a few coin shops in my area selling CAN cents at face value. So far, only 14 out of 50 - 60 dollars worth have been post 96. I wish it counted towards the George V tracking because I easily found 20 - 30. Cheers. |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 11/17/2009 : 16:54:32
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80% Canadian Cu is what I'm getting in my area too. About 1.5-2% of the circulating pennies in the Metro Detroit area are Canadian. 75-80% of them have been Cu since I started sorting. About half of them the heavier pre-80 specimens, with lots of YQ's and even a fair amount of kings (George VI).
I have no idea why this is so. It's not like Canadian coins stopped coming across the border. I found an '09 Canadian penny before I got my first '09 U.S. penny. Same with my '09 Canadian nickel and quarter.
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Edited by - Bluegill on 11/17/2009 16:55:21 |
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 11/17/2009 : 17:00:39
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I also get higher percentage yields of US copper than Canadian copper sorting here in Canada.
My theory is that one cent coins no longer get transported across the border (either way) in as great a volume as the 60s-80s. People are more likely to "throw away" (donation jar, leave-a-penny, drop on sidewalk) their smallest foreign change rather than haul it back home. Especially with the increased scrutiny and metal detectors at airports. |
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mj2322
New Member
20 Posts |
Posted - 11/17/2009 : 17:52:46
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| I think the Canadian cu % is even higher than 80% here in Tx. On the other hand I am only getting maybe 25-30 Canadians a box so the total is not that great. |
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 11/18/2009 : 17:30:43
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| my theory on this is that back when the exchange rate was a lot better(for the usa) people used to actually buy the canadian pennies and then put them into the us market by slowly adding 10%-20% when redositing american pennies at the american bank. possibly 30-40% if they could get away with it..... This may seem like a mood point at todays exchange rates but think what the rates were and if you did that times a few million pennies....I actually "KNOW" people who did this. |
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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ronin
Penny Sorter Member
USA
36 Posts |
Posted - 11/18/2009 : 17:39:41
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| Not that I would ever admit to doing such an unscrupulous thing... but I have heard that some folks used to use Canadian coins to pay the Illinois Tollways when they charged the same tolls for coins as they do for the transponder charge. At a 12% exchange rate in my favor I figured that I was saving a decent amount of money, and costing them the exchange a second time when they cashed in... errr, I mean those unscrupulous folks doing that were costing them. |
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Coinage
Penny Collector Member
Canada
303 Posts |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/19/2009 : 04:11:38
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My coin velocity theory - how often (speed) a coin moves from person to till to person to person etc. A Canadian coin that wandered south of the border is more likely then an American coin to go in a jar and not move for years, to be rejected by banks or retailers and therefore go back in a pocket, or to get scoped by some kid for their collection. Since the coin has a harder time circulating it will experience fewer chances to be lost or destroyed. Therefore older coins last longer outside their country then inside their country.
High velocity coins have shorter lives than low velocity coins. Halves prove that point. We can still find old silver halves because they sit around in bank vaults and people's drawers for years before seeing another transaction. Quarters get used a lot more so there is very little silver left - too many people see, touch and use quarters so the chances of an informed person grabbing a silver quarter and retiring it into a collection is much higher due to the coin velocity of quarters.
Granted the coin might also be thrown away (regardless of date), but then it is gone and not effecting the percentages of copper.
I also think that Americans generally have no idea what they are holding when they see a George V penny. Unless they check the day most will just spend it. Canadians would notice it is an old design and save it. The reverse does not seem to hold true because all Canadian know what a Lincoln is supposed to look like (they circulate freely here) and all Canadians would spot an Indian Head penny as being very old and worth saving. |
“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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2old
Penny Pincher Member
188 Posts |
Posted - 11/20/2009 : 15:03:37
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quote:
Originally posted by jadedragon
My coin velocity theory - how often (speed) a coin moves from person to till to person to person etc. A Canadian coin that wandered south of the border is more likely then an American coin to go in a jar and not move for years, to be rejected by banks or retailers and therefore go back in a pocket, or to get scoped by some kid for their collection. Since the coin has a harder time circulating it will experience fewer chances to be lost or destroyed. Therefore older coins last longer outside their country then inside their country.
High velocity coins have shorter lives than low velocity coins. Halves prove that point. We can still find old silver halves because they sit around in bank vaults and people's drawers for years before seeing another transaction. Quarters get used a lot more so there is very little silver left - too many people see, touch and use quarters so the chances of an informed person grabbing a silver quarter and retiring it into a collection is much higher due to the coin velocity of quarters.
Granted the coin might also be thrown away (regardless of date), but then it is gone and not effecting the percentages of copper.
I also think that Americans generally have no idea what they are holding when they see a George V penny. Unless they check the day most will just spend it. Canadians would notice it is an old design and save it. The reverse does not seem to hold true because all Canadian know what a Lincoln is supposed to look like (they circulate freely here) and all Canadians would spot an Indian Head penny as being very old and worth saving.
You must have spent a lot of time thinking about your velocity theory! Can you tell me why you would ponder that? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/20/2009 : 19:43:00
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| Na it just came to me from piecing together things I've read here and other places. I have a real fascination with money. |
“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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Canadian copper
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