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 Posted - 12/06/2009 : 09:25:14
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I have read many of the posts here and I have a question.
If you have a large amount of copper penny that you wish to sell in quantity, where do you sell? I am talking about $4000.00 face value of copper coins. I believe I can obtain this amount every month, but I do not know where to sell them. I would want a minimum of about 1.55 times face value.
Thanks kindly for any advice,
Bryan
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Bryan |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 12/06/2009 : 10:26:32
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Welcome to the forum Bryan  The market for copper cents is currently underdeveloped. Few investors properly recognize the potential held by copper as a commodity, in the form of cents, to appreciate greatly in value. We here in the forum are in the vast minority, but understand that copper will be useful someday as real money when the dollar becomes worthless, and will reflect price increases as inflation gets worse. Many here are building their own hoard of cents, a few are selling. The supply you have in mind exceeds the demand at present, but there are those of us who are trying to publicize the opportunity represented by copper. If we can drive some big dogs over from financial websites, they will easily snap up amounts like you are talking of. I recommend building your own core holdings of copper cents, let's say to the $1,000 face level before you consider selling. Keep reading and watching, as the price of copper rises interest follows and buying will resume. Cents are a commodity, but they're just too much problem to deal with when you can buy them for the cost you would have spent in time, gas, effort. Big bucks big dogs will never sort their own, they'll buy. We just have to untether them from silver and gold and get em to bite at copper.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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barrytrot
Administrator
USA
721 Posts |
Posted - 12/06/2009 : 13:21:54
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| You can easily start selling $4k/month but probably not at 1.55x. At 1.4x including shipping you could possibly find buyers, definitely at 1.3x. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 12/06/2009 : 16:39:36
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Welcome!
4K in copper each month! WOW!
You must have at least a couple of Ryedales  If I remember correctly some of the 'pros' on this forum have estimated that a 5 gallon bucket of copper pennies is worth around 300.00 face. If that is so I think you would be filling about 13 or so 5 gallon buckets of copper each month. That, to a 'hand counter' like me, is absolutely huge!
I'm too new on the forum to offer valid advice to you ... but I think, for myself, if it were even remotely possible for me to get even close to that amount of copper per month (which it isn't and never will be!), I would do some major hoarding, because it really seems the copper is going up as the dollar goes down. Thus copper seems like a good hedge against economic disaster ... IMHO.
Best wishes and again, welcome to a truly great, informative forumn
sheba |
woof ... wag ... whine |
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Where do you sell large amounts??
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