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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
 Posted - 12/04/2009 : 08:31:24
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Just wondering what your thoughts are on this? Copper is at $3.20 a pound today 12-04-2009. The last time it was this high we were getting close to 2 cents apiece for our pennies. When copper hit $4.00 a pound we were getting over 2 cents apiece for our pennies. Some members here were selling $50.00 bags of pennies on Feebay for $110.00 to $120.00 a bag. We are not that far from $4.00 copper now, it won't take much of a move to get there. So again my question WHY aren't we getting closer to 2 cents apiece for our pennies? Why aren't copper coins following silver and gold coins up? To be honest with you I am getting a little discouraged with my copper sorting hobby and I am starting to wonder if it really is worth it?
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COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 12/04/2009 : 08:43:18
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There are several thing to consider.
#1 Copper pennies are still easily found in circulation. National average is 20% or more. Would you pay 12X for 90% if it you could find it in change at 10%? It is simply supply and demand at this time.
#2 The melt ban. People don't want to buy them because they can't do anything with them.
#3 Its a niche market. Coin shops don't have them for sale and they are not buying either. APMEX has bags for sale and that helps. There are others who are out there too. Portlandmint , copperbullion, and others are helping form a market.
If you get discouraged and dispose of your coppers, you may regret it later down the road.
Your decisions are yours. You have to decide what works best for your situation.
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You don't have to be the BEST you just have to be.......SLICK
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/04/2009 : 09:22:52
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| I think more people are thinking about gold and silver right now. The vast amount of people are not thinking ahead, more worried about a job and the current mess they have. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/04/2009 : 11:59:24
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They are responding - Kurr has raised his prices from 1.3 to 1.4 to 1.5 and he can't keep up with sales. Nate gets even higher on small packages.
I was not in the party when pennies sold for 2X in bulk but I would guess that there was a lot less competition and perhaps other factors. |
“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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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 12/04/2009 : 12:05:56
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| Its not on most people's radar yet. Heck, silver is not even on most people's radar yet. Only gold is getting much press these days and even then, most people do not even pay attention to mainstream financial news, much less the coin hobby. Consider it a blessing that copper cents are still so cheap - it makes the long-term arbitrage that much easier for people in the know. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 12/04/2009 : 12:28:27
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I AGree. Copper hoarding is forward thinking...like building Noah's Ark. You are encouraging real saving, because the PM coins you hoard are less likely to be spent on frivolous purposes. This is long term wealth and financial security...even the the lowly coppers have their role in a free society. Read about the economy of the 1820's in the U.S.; most silver didn't circulate outside big cities. Local economies depended on the Large Cent for their wages and commerce.
Just think, in a CUrrency collapse, your whole local community will benefit because you spend REAL money for local goods and services. People hoarded copper during the Civil War; believe me you can keep an entire local community's economy alive because at that point you ARE the bank. Imagine the day when you're buying food for your family at the local farmer's market with the pennies you saved today. |
Edited by - Zyll on 12/04/2009 12:30:52 |
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vrbsroma
Penny Collector Member
394 Posts |
Posted - 12/04/2009 : 12:35:04
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Gold is, if even, the only "mainstream" metal watched by those outside the numismatic and bullion communities. Silver, Platinum, Copper (forget wheat, milk, etc.) are simply not tracked by those outside.
Within our community, Slickeast has some great points, to which I would add "#4 uncertainty of the future." |
As far as I know, it is stated "In God We Trust" on the US dollar. How can I trust this currency if I do not believe in God?
Possession is nine-tenths of the law.
When I give my two cents, they're always copper! |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 12/04/2009 : 13:03:22
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| Most of the people who want copper cents just get them by sorting. This cannot last forever, for obvious reasons. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 12/04/2009 : 16:11:22
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quote:
Originally posted by AGgressive Metal
Most of the people who want copper cents just get them by sorting. This cannot last forever, for obvious reasons.
I agree with you, I keep thinking each year there should be less and less copper pennies, but I have been at this for over two years and my copper percentages are not dropping any. I have no doubt that when it gets as hard to find a copper penny in circulation as it is to find a wheat penny in circulation today the value will be 3 to 5 times face for that copper penny.
And I understand that when the economy collapses every roll of copper I have could buy me a lot more than the worthless paper money will. Maybe I am just being a little impatient. It would just be nice to get at least 2 times face for some of my copper and it would make this hobby a lot more fun. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 12/04/2009 : 16:53:11
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NDFarmer, I regularly get 1.5X for mine. this is after shipping. Kurr has raised his prices and it sold out. if I sell 1000.00 face for 1500.00, I can then sell 1500.00 for 2250.00. I keep doing this to raise capital to buy more machines and make the process easier and faster.
I like the percents remaining steady. I am looking at long term potential. |
You don't have to be the BEST you just have to be.......SLICK
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bman
Penny Collector Member
USA
425 Posts |
Posted - 12/04/2009 : 17:20:17
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| you also have to consider that the copper market was just getting going good and strong when the bottom fell out. The buyers were left holding the coins they paid 2 or 3x face for that then became worth less than face in metal value. Alot of the buyers got discouraged. |
check out my coins for sale on ecrater : http://bmanscoinsforsale.ecrater.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 12/04/2009 : 18:30:11
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I don't think any of you guys realize just how close we are to hyperinflation. Be happy you can accumulate at face value for now and grab as many as you can while you can. A year from now copper will be recognized by the masses for the great opportunity it represented now, but by then it will be much harder to sort from decent percentages. And, yes, someday the memorials will be valued at a premium to metal value as the wheaties are now.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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myfundsarelow
Penny Collector Member
USA
388 Posts |
Posted - 12/04/2009 : 23:59:09
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| hang on to those cents of copper as most have heard north korea has devalued there mony to around 1 for 200 of there national bills & only a certan amount all that people saved in banks is lost. nada!!is what they have left you can read about this in detail at realcents .com PEACE!! |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/05/2009 : 00:13:09
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I was around for the party back then.  I was one of the original eBay sellers back then and regularly got those prices on eBay NDFARMER speaks about. Peak price I was getting for regular direct deals outside of eBay was 2.25x. I sold a lot of weight while the price was good. This funded additional equipment and purchases of gold and silver for diversification. The high prices caused a lot more producers to enter the market. Many Ryedales were sold. Even if the original purchaser of each Ryedale does not currently own it, they probably sold it into the secondary market. We live in a capitalistic society. There will always be competition. Some sellers will lower the price point to extremely thin margins to get market penetration into a very competitive marketplace. |
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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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 12/05/2009 : 00:20:36
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Copper pennies are not very liquid above face value. Right now many people are worried about there jobs and silver and gold can be sold quickly. When it comes to copper pennies the only thing you can do with them quickly is use them at face value.
This is a little off topic, but I think we'll see copper fall a little bit over the next few months. I think the dollar has about bottomed out for now and will start climbing. This will cause commodity prices to fall a bit. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 12/05/2009 : 11:59:48
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| NDFARMER....hang on! Think of this as an investment that want mature until five year or more. Slow down sorting if you feel the need or stop but don't get out now! The best is yet to come. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 12/05/2009 : 17:19:38
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quote:
Originally posted by Copper Catcher
NDFARMER....hang on! Think of this as an investment that want mature until five year or more. Slow down sorting if you feel the need or stop but don't get out now! The best is yet to come.
I don't have any plans on getting out. I still think sorting copper is a good idea. As long as I can continue to get them at face value I am going to continue sorting.
I have taken some time off, been busy with the harvest but now that is over. I will pick up the pace on sorting for the next three or four months. There isn't much else to do in rural North Dakota in the winter time. I have several 5 gallon pails of copper to roll and add to the stack so that will keep me busy for the next couple of days. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 12/05/2009 : 17:42:33
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The copper cents will be worth more once the dollar collapses, which will happen very quickly, if Congress continues on their current path. Of course we need the melt ban lifted.
Silver is a secondary metal in gold and copper mining. The price of Gold, Silver, and Copper are very much interconnected. Seldom will you see all 3 go up at the same rate. |
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giddyup99
Penny Pincher Member
USA
154 Posts |
Posted - 12/05/2009 : 21:47:15
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If the dollar collapses , the last thing anyone would be worried about is the melt ban. It would be a non issue at that point.
I think we'd need some kind of copper shortage for the ban to be lifted. Unless the Mint wanted these coins out of circulation. This is probably a better possibility as I don't think they like the idea of their money being bought and sold and traded beyond their respective face values.
It may be beneficial to have the ban lifted under current circumstances, but I'm a little skeptical it would have any major affect on the trading value of copper and subsequently, copper pennies. |
Experience is what you get when you don't get what you want. |
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Why are copper coin values not reponding?
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