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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
 Posted - 11/19/2009 : 15:00:59
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Poll Question:
If the US Mint stopped production of the one cent coin, demonetized it, and lifted the melt ban, would you melt your hoard?
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Come to the new and improved realcent: http://realcent.org
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Edited by - uthminsta on 11/19/2009 15:02:48 |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 11/19/2009 : 15:48:05
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Melting would be the worst bartering idea. Trusted source quantity and purity are vital in trade. Example: Consider generic tungsten gold bars vs gold eagles. When you go to sell what will be more easily recognized and easier to offload- 1 400 oz generic gold bar or 400 gold eagles?
Besides copper oxidizes too easily when you melt it. Who wants to buy your giant blob of so called "copper" when they can simply buy sacks of pennies? |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 11/19/2009 : 16:11:45
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For me to melt them three things would need to take place.
1- It would need to be legal.
2- There would need a legitimate need for the copper, wires or tubing that I would need to make.
3- I would need to learn to make the item and have the ability to do it.
Since right now I have none of these three reasons, copper cents are "money in the bank." |
Silver Monometalism is the most permanent and stable form of money the world has seen. Natural law and history prove silver value is best multiplied by gold and best divided by copper. It is only in this counterfeit currency time when the natural law appears suspended. |
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 11/19/2009 : 16:14:39
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| I could be wrong, but I think the option of melting here refers to selling to a smelter to be melted. I don't see many here actually going out and melting them in their backyard. |
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ZigMeister
Penny Pincher Member
USA
229 Posts |
Posted - 11/19/2009 : 16:22:41
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| I think that once sufficient quantities of Cu Cents disappear from circulation you will see the Cu Cents going for a premium over scrap value...hence I feel that they would be worth having in their current form. Although if you had to move large quantities then scrapping would be the way to go. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 11/19/2009 : 17:00:22
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| That would be a great time to dump ugly Abes. |
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ilovecoins
New Member
0 Posts |
Posted - 03/08/2010 : 13:57:17
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| cool |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 03/08/2010 : 16:09:33
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Yeah..... I'll sell my ugly abes to the scraper when that time comes. The rest I hope I can trade at spot or above on the 'junk copper' market.
Remember, the scrapper will never pay you Spot! |
"May your percentages ever increase!" |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 03/23/2010 : 19:10:43
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I would leave them the way there are - easier to barter and trade and as coppers they are recognizable to everyone. I would NOT melt my 40%/90% SILVERs for the same reason.  |
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 03/29/2010 20:57:15 |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 03/23/2010 : 19:31:03
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| Mine are going to stay put as a long term investment and when i do sell them it will be on that 'junk copper' market. Maybe by the time I retire there will be as big a market for junk copper as their is for junk silver. |
Rule six: There is no rule six. |
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goodcoin
Penny Sorter Member
42 Posts |
Posted - 03/29/2010 : 09:14:17
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| My copper cents will be used as real currency to barter wtshtf. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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maoguinn
Penny Pincher Member
USA
118 Posts |
Posted - 03/29/2010 : 20:50:58
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| I am also going to hold on to copper cents for the long term. We will just have to wait and see how they can be used when TSHTF. |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 03/31/2010 : 02:03:13
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| I personally have to laugh at the idea of using copper pennies as currency if tshtf. If tshtf my guess is that world wide production of good would fall by atleast 50% and copper would be worth less than a dollar per pound. If tshtf is the reason your in this sell all of your copper and start buying gold. |
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oldBPman
Penny Sorter Member
83 Posts |
Posted - 04/01/2010 : 03:20:41
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quote:
Originally posted by biglouddrunk
I personally have to laugh at the idea of using copper pennies as currency if tshtf. If tshtf my guess is that world wide production of good would fall by atleast 50% and copper would be worth less than a dollar per pound. If tshtf is the reason your in this sell all of your copper and start buying gold.
I'm hoarding as an investment for grown kids,GKs, but if the SHTF before I pass on, i will feel a lot safer pulling out a few rolls of pennies than i would a hand full of silver eagles or a five dollar gold piece, at least for the first few months til I see who is surviving on their own work,preps and who is trying to make it on other peoples work.
if copper goes below a dollar a lb, then it may be good idea to stash away a hundred lbs of the zinc pennies to spend and save the copper til they are needed. |
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specialbob
Penny Sorter Member
USA
56 Posts |
Posted - 05/25/2010 : 21:56:03
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| I have no qualms about the legality of the melt ban. If I want to melt them, I will, regardless. Let the Nazis stop me. |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 05/25/2010 : 22:55:17
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quote:
Originally posted by goodcoin
My copper cents will be used as real currency to barter wtshtf.
Yeah, they work great when your economy disappears.
Exhibit #1
Keep them till they are worth trading for something better. Then sell them. |
www.londongoldbuyer.com |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/26/2010 : 06:21:56
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| No more so then I would melt 90% silver "junk" coins now. The more that were melted the less I would want to melt mine for sure. |
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Think positive. |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 05/28/2010 : 02:13:04
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| To melt them you would be flushing all the profit down the drain. It requires a lot of energy to melt copper. A big manufacturer can due it much cheaper because of the economies of scale. What would cost them a fraction of a cent to do would cost us several cents. |
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rexmerdinus
Penny Sorter Member
47 Posts |
Posted - 06/01/2010 : 08:31:57
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| I'm saving them as a cheap investment. I think PM's and SPM's are good to have when TSHTF, but there are other goods that might potentially be equally or more valuable depending on your location and situation. I, for one, am way out in the sticks where there is plenty of food walking around on hooves or growing in my garden. Both in terms of simple survival at first, and trade further down the line, I expect to have more use for seeds and ammunition than I do for a handful of copper and silver that I can't digest. |
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WOULD YOU MELT 'EM?
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