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subaqua99
Penny Sorter Member
Canada
25 Posts |
 Posted - 12/04/2009 : 17:45:41
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Hello Everyone,Newbie Canadian here, I've enjoyed reading all of your post over last week. Don't ask me how I stumbled on here but afraid you have new convert here.
Read all about this on Sunday and decided i would give it a try and collect some pennys to check. Told a few friends to be on lookout for me. Well ask and you shall receive, they say and now I have bit off more then i can chew lol.
1.First I got 31.50 from a few tellers at some local banks. Turned out to be 41.9 % coopers.
2.Then I bought 12.5 pounds off buddy for even $20.00 . Actually turned out to bee $21.85 so that was a bonus. Turned out to be 44% copper.
What else was in above my first two lots of $53.75?
14- george VI
42- young queens
10- american wheats
06- centenials
65 - american copper
Here comes the bit off more then i can chew. In talks with another lady who has 50- 70 pounds in buckets around house been collecting last 20 years. I offered her 1.50 a pound I think and she going to get back to me when she is free so i can pickup
But here comes th big one...- local charity contacted me and has just rolled 1910 rolls...told me i could pick up. Then i realized thats $955 woth of pennies. My wife is going to freak! when she asks what i did with the $1000 bucks and i tell her i bought pennies with it hunny! I'm so dead.
oh well.. she'll get over it... hope to meet everyone especially some canadians to hear your stories and tips for a rookie. I can see already some different ways canadian and us banks operate.
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Junk Woody
Penny Collector Member
Canada
262 Posts |
Posted - 12/04/2009 : 17:50:42
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Well your spending your money on money,I'd say you can't lose.
WELCOME TO THE FORUM by the way subaqua99.
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AlexTG
New Member
USA
20 Posts |
Posted - 12/04/2009 : 18:01:01
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quote:
Originally posted by subaqua99
My wife is going to freak! when she asks what i did with the $1000 bucks and i tell her i bought pennies with it hunny! I'm so dead.
oh well.. she'll get over it... hope to meet everyone especially some canadians to hear your stories and tips for a rookie. I can see already some different ways canadian and us banks operate.
New here too, I looked into this about 8 months ago but never found this website and wasn't able to follow through at the time. Starting off small keeping accurate data on the pennies I count so I can get a good feel for the %s. Only been a few days but I am doing $5 a day until after Christmas when I will buy an ACE and up the amounts.
I was worried when my GF walked into my room what she would say about the small collection of pennies I have already.
She asked "Collecting pennies?"
Me "Yep"
Her "ok"
*end conversation*
Later I felt the need to explain my self, and why I am collecting them ect.
Turns out she knows all about this and has been collecting all coins for more than a year and when I get my machine we will run through what she has too.
Anyway, glad to be here. Look forward to chatting it up with many of you about pennies, monetary policy and politics :D
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 12/04/2009 : 18:01:40
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| if she bitches too bad just send her to the shoe store with $100 in pennies to buy the next pair, perhaps it will humble her a bit. LOL...my wife is the same way, just doest get it yet, hopefully someday. glad you joined in... |
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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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/04/2009 : 18:18:48
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| glad for both of you joining this site. Just give your wife the ones that are zinc and that may keep her happy for a while |
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Bart
Penny Pincher Member
Canada
120 Posts |
Posted - 12/04/2009 : 19:02:30
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Welcome Subaqua99 -
Thats a great score getting all the pennies from the local charity. I hope that you get find alot of copper & older pennies.
My wife laughs at me when I talk about saving copper. She just thinks its funny.
Happy hunting!! |
Nice. Yes. Very nice. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/04/2009 : 20:06:33
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Welcome to a fellow Canadian.
$1.50 a pound might be a little high (Cdn copper pennies avg about 146 to the pound) but it is awesome to get loose pennies in Canada. Takes time and effort to unroll coin.
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“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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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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subaqua99
Penny Sorter Member
Canada
25 Posts |
Posted - 12/04/2009 : 21:06:42
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Hey everyone...hey jade i'm buying unsorted pennies by weight. I actually worked out last 12.5 pound bucket / 2185 pennies = 174.5 pennies per pound....thats at a 44% copper find.. So actually, I'm starting to think $1.60 might be a fairer price. Maybe even higher?
If people are nice enough to sell me there pennies, i want to give the closet price to facevalue. I'm still making off copper. If by chance i find pure copper rolls then I lose 13 cents a pound, but if that happens I still will have made it in copper so i'm happy . Im sure that will be a rare occurence any ways.
Thanks for the warm welcome everyone, look forwars to picking your brains.
Any other canadian collectors? what do you pay for a pound of pennies? unsorted |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/04/2009 : 21:49:33
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quote:
Originally posted by beauanderos
Jade! How can paying 150 cents for 146 cents be a bad deal?  Huh, huh, huh? I'd take that in a heartbeat, that's barely above face value. 
He is buying bulk unsorted pennies by the pound If you pay face or above it is cheaper to just go to the bank and buy a box of unsorted pennies and save the trouble of negotiating, weighing, meeting etc.
Remember we are doing the seller a big favor by taking those pennies off their hands, especially since the alternative in Canada is to count and roll by hand, something the seller is not interested in or they would not have buckets of pennies sitting around. Some of us have machines to help automate that chore and we need to pay for our time and machines.
I don't talk copper with raw penny sources, I just say I'm collecting the old ones. 13 year old Canadian pennies are old right?
Oh and remember to tell the charity they can skip rolling those coins next time! Nice score though - it takes a lot of banks to round up a grand in pennies.
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“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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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 12/04/2009 : 22:13:24
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| Jade, I see the point you're making. I was considering it from the point of view that his copper content in pennies that have been accumulated over twenty years would be a much higher percentage rate than what's currently available at the bank. I know I'd do the deal if someone had that locally. Sure, I'd save a few cents by going to the bank, but the chance of a good find (if they truly were saved over twenty years would be worth it to me to try |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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natsb88
Administrator
USA
1850 Posts |
Posted - 12/04/2009 : 22:20:33
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In regards to some of the numbers being cited for pennies per pound...
Perfect US copper pennies are 146.3 to the pound, circulated pennies are about 148 to the pound, and 150 is a nice round number to use for calculations. The last time I counted a few samples of mixed weight copper Canadian pennies, I got something like 164 per pound. Really depends on the batch, since the older the mix, the more heavy coins will be present. |
Nate
The Copper Cave
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Newbie Canadian - Ask and you shall receive
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