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n/a
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 Posted - 08/19/2007 : 21:07:36
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It really isn't worth the expense of buying a sorter for several hundred dollars, or hand sorting hours each day. Copper cents now have an intrinsic value of greater than two times face value, and zinc cents' intrinsic value is almost at par with their face value. So I choose to hoard both. This is an intergenerational play. It'll take years before pennies are worth melting, so it makes a great deal of sense to put both copper and zinc away for the long haul. Who knows whether copper will always be at a premium to zinc, anyway.
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Edited by - n/a on 08/19/2007 21:13:53 |
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n/a
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42 Posts |
Posted - 08/20/2007 : 01:32:05
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quote:
Originally posted by Ihoardeverything
It really isn't worth the expense of buying a sorter for several hundred dollars, or hand sorting hours each day. Copper cents now have an intrinsic value of greater than two times face value, and zinc cents' intrinsic value is almost at par with their face value. So I choose to hoard both. This is an intergenerational play. It'll take years before pennies are worth melting, so it makes a great deal of sense to put both copper and zinc away for the long haul. Who knows whether copper will always be at a premium to zinc, anyway.
If you can afford to store and wait, go ahead. I think it's a waste of time and effort when you can spend just some to hoard ones that matter, it'd be like $5 bills and $10 bills all falling at the same time, some grab all (better than nothing), but some spend a minute to find the $10 bills, so with little effort, he can keep what's worth more in the same volume.
Not to mention, the "years" waiting to melt the zinc pennies, you might make more putting your money in a bank for 5% interest (it's BS to me, but for what you're doing, i think it's worse). |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 08/20/2007 : 20:34:47
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quote:
Originally posted by Ihoardeverything
It really isn't worth the expense of buying a sorter for several hundred dollars, or hand sorting hours each day. Copper cents now have an intrinsic value of greater than two times face value, and zinc cents' intrinsic value is almost at par with their face value. So I choose to hoard both. This is an intergenerational play. It'll take years before pennies are worth melting, so it makes a great deal of sense to put both copper and zinc away for the long haul. Who knows whether copper will always be at a premium to zinc, anyway.
I seem to be one of the few, like you, who hoard both. Though I see copper as my #1 penny hoarding reason, I'm still bullish on the zincers over the long run. If I was worried about missing the interest I could earn at the bank, I wouldn't be hoarding any coinage.
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Fanaticism is doubling one's efforts, yet forgetting one's purpose.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 08/21/2007 : 07:33:59
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I think there will be some money to me made selling unsorted penny boxes. When you factor in the time to sort, it is possible you will be better off dollar per hour wise not to sort. Image yourself two plus years from now when copper penny percentages have dropped off putting up an ad on E-Bay selling an unsorted penny box from 2007.
That being said I am a sorter. I want concentrate my available funds in copper not zinc. If money were less of an object, I would probably just hoard boxes... |
Edited by - horgad on 08/21/2007 11:35:48 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/21/2007 : 11:28:12
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Darn, I already have that machine.. and I am addicted to sorting, so it is too late for me. With the copper ones being worth over twice as much as the zinc ones I guess it is ok though.
I have actually seen unsorted penny boxes sell on eBay already.. for fairly high prices.. plus $10 shipping. I even sold one myself.. but of course it did not get the action the other auction did.. maybe I was too honest in the description.. I don't believe in overhyping things.
I suppose I have a sizable hoard of zinc on hand most of the time if you count the unsorted boxes, the bags of zinc I haven't hauled down to the bank yet and the boxes of shiny new pennies I set aside.
I like to get as many unsorted boxes as my play money allows, but like horgad, I am a sorter. I would rather have a box of mixed than a box of zinc and I would rather have a box of copper than a box of mixed. So once the zincs are sorted out they get converted right back into mixed boxes.
So technically, I still have some zinc, I just have some copper mixed in with it after sorting and converting.
We all have capital and space limitations. Nothing wrong with hoarding as many unsorted boxes as you can. You still get the thrill of the hunt chasing down all those boxes and you always have the option of sorting them later if you want to, or there may well be a market for unsorted boxes. I certainly wouldn't mind having a stack of a few hundred unsorted boxes sitting there available for anytime I get in a serious sorting mood. That Ryedale machine chews through them, so I am always running out of available stock. It is a challange to source enough pennies to feed the monster!
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu673200(150000 Reserved):US5Ni14700:CA5Ni1150 |
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n/a
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42 Posts |
Posted - 08/21/2007 : 16:10:30
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| Actually, if you really think pennies are not worth sorting, I suggest just go with nickels. They take less space, all years are the same composition, and all are above face value. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/21/2007 : 20:47:50
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Just a thought, nothing else...
For those who want to play the zinc market with zinc cents it wouldn't hurt to hold $20-$40 worth of zincs,the amouns listed isn't enough to seriously pinch into your copper funds and still offers a small zinc play. If nothing else, you can always dump the zincs at a future point in time for more coppers.
Just think of the zincs as a small emergency stash of cash that you can't tap into too quickly.
Anyway, just a thought.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 08/21/2007 : 22:14:55
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| i prefer to convert my zincs back into unsorted boxes. but i cant stand saving unsorted boxes because im so curious to know whats in them. i have saved back $50 worth of zincs. just as pencilvanian said, just enough to play with, a small stash of cash and i can always dump them. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/22/2007 : 00:51:02
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I have a much larger hoard of zincs than that. I fill up a bag of them every 5 minutes most evenings. So there are always a few bags laying around here that haven't been converted back yet into unsorted boxes. Then there are the zincs contained in my stash of unsorted boxes.. and lastly there are several shiny new boxes of zinc I intentionally hoarded. I figured if you are going to set aside a few boxes of zinc they might as well be BU rolls so you have the numismatic play as well.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu673200(150000 Reserved):US5Ni14700:CA5Ni1150 |
Edited by - HoardCopperByTheTon on 08/22/2007 00:55:16 |
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n/a
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43 Posts |
Posted - 08/25/2007 : 18:45:48
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why not just save some zincs as a hedge against a rise in the zinc price or as a hedge against hyperinflation where you spend some zincs first or use them for very small purchases.
"Preserving coinage by the pound" |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/26/2007 : 10:42:41
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quote:
Originally posted by John Law
why not just save some zincs as a hedge against a rise in the zinc price or as a hedge against hyperinflation where you spend some zincs first or use them for very small purchases.
"Preserving coinage by the pound"
If you check out the Kicto Base Metals page...look at the LME inventories on zinc....they are at an all time low and seem to be in an steady down trend. I think Zinc hoarding is just about to take off!
Zinc penny is nearly "sound" right now (1 Zn penny = 1 penny of intrinsic metal value)....if the gov't goes to a steel penny, that will be the signal to start hoarding zincs.
I'm currently hoarding all mint/uncirc boxes of zincs....and think about hoarding more going forward....but for right now, concentrating on the copper.
M41/1USMI:US1Cu240000,CA1Cu328000,CA5Ni35000 |
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Hoarding copper vs Zinc? I hoard both
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