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1945V
Penny Pincher Member
Canada
153 Posts |
 Posted - 12/20/2009 : 13:23:12
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Currently, US sorters typically get a 20% copper yield and Canadian sorters usually get a 40% yield`from penny sorting efforts.
There is a lot of hidden expenses in sorting like gas and car wear & tear driving back and forth to source and dump banks. For the heavy duty sorters, the Ryedales need a few months to pay off.
Right now, $100 pennies sorted in US give you a $10 profit (before expenses) and $12 to $18 profit in Canada.
I think I would stop when the percentage yields drop in the low single digits (2-4%).
At what point (lowest percentage) would you stop sorting ?
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Edited by - 1945V on 12/20/2009 13:28:12 |
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Junk Woody
Penny Collector Member
Canada
262 Posts |
Posted - 12/20/2009 : 13:34:51
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I've told myself that I'll quit sorting coppers when my chutney barrel is full of pennies.(400+lbs.)
I have a few more chutney barrels laying around though,so I'm not sure?
Nickels are at 10% now in Canada and that only makes it more pertinent to keep at it while they are still in circulation. |
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billsattic
Penny Sorter Member
USA
47 Posts |
Posted - 12/20/2009 : 13:38:01
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You are thinking short term... that being the case, I would advise getting into a more precious metal and buy on the dips. Silver is a great start.
If you are thinking long term... copper in cents will eventually be 5-8 times face. I believe this will happen within the decade unless people wake up a little faster to the truth of fiat curency... There is already buyers interest in copper cents... it just needs to grow exponentially (hopefully) |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 12/20/2009 : 18:17:54
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| never stop sorting its to fun! |
Inquiring minds want to know |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/20/2009 : 18:25:00
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| I agree that if you do it for fun or as a hobby you kept going no matter what % you will get. |
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jin.coy
Penny Pincher Member
Canada
128 Posts |
Posted - 12/20/2009 : 20:45:02
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I do not sort coppers, but I sort nickels. I managed to cut down the hidden expenses by buying/dumping during the lunch break OR when I do groceries. There are 19 branches in very close proximity to where I work.
Recently I became a daddy and this also limits my time allocated for sorting.
My goal is to stop when I reach 2k in .999 nickel or when the keepers ratio goes under 5%, certainly rolling up 95% in rejects and returning it limits the fun.
I hope I can reach my 2k limit before the rate goes down.
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Junk Woody
Penny Collector Member
Canada
262 Posts |
Posted - 12/20/2009 : 22:10:14
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Congrats on daddyhood jin.coy
I hope you can get to your limit too.Current 10% Ni is bearable,I'd still sort at 5% myself. |
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snappy
Penny Collector Member
USA
301 Posts |
Posted - 12/21/2009 : 14:49:13
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you ask " At what point do you stop sorting ?" and I have to think about it.
I would guess it would be a toss up either just after I go blind, or just before they fire 21 guns and hand my wife and kids a flag. |
Selling Ryedale sorted USA cents
1.5 each + shipping over 500fv 1.5 each +1/2 shipping
If you pick up 1.35 each
located MT/ND boarder.
after Ryedale sorting they are hand sorted to remove canadian then rechecked with Ryedale to insure all copper and count out $50 FV then placed in cloth bags and sealed with #1 copper wire. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 12/21/2009 : 14:53:38
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| We are still sorting halves, even with the percents lower than 1%. The price of copper will dictate when I stop. Once you start, you never fully quit. How many of you check your change every time for silver? |
You don't have to be the BEST you just have to be.......SLICK
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1945V
Penny Pincher Member
Canada
153 Posts |
Posted - 12/21/2009 : 17:03:48
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You guys are real die-hards.
"You'll stop sorting when they pull the unsorted rolls out of your cold dead hands" |
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barrytrot
Administrator
USA
721 Posts |
Posted - 12/21/2009 : 18:18:18
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| Something about "when they pry the Ryedale from my cold dead hands"... |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 12/21/2009 : 18:35:29
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quote:
Originally posted by 1945V
You guys are real die-hards.
"You'll stop sorting when they pull the unsorted rolls out of your cold dead hands"
: ) Seriously, probably when I'm no longer able to get unsorted rolls from the banks. Its only a matter of time before the U.S. government starts reclaiming copper pennies from circulation. |
Edited by - theo on 12/21/2009 18:35:56 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 12/22/2009 : 09:03:45
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quote:
Originally posted by theo
quote:
Originally posted by 1945V
You guys are real die-hards.
"You'll stop sorting when they pull the unsorted rolls out of your cold dead hands"
: ) Seriously, probably when I'm no longer able to get unsorted rolls from the banks. Its only a matter of time before the U.S. government starts reclaiming copper pennies from circulation.
You might be right, but I think that they'd rather leave the pennies in circulation. It costs them about 1.67 cents to mint new ones. But if they ever change the composition to plastic or some less expensive metal, those coppers will disappear fast. There's a fed official who wants to revalue the cent to worth five cents apiece, and then dump the nickel.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 12/22/2009 : 11:47:58
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LOL now that is a good one. I probably would stop sorting when they have disappeared from circulation. I would probably be buying youall's pre-sorted boxes at that point, until I had diversified my metal holdings enough to meet my head numbers. I have always had in my head that I would have double the amount of silver as gold, and double the amount of copper as silver...I never worked out the numbers though.
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14.3% gold
28.6% silver
57.1% copper
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That actually means I'm overweight on my silver, and I still have copper to hoard...I figure once the price ratios come back into balance with their actual rarity, I'll trade my allocations around (sell copper for gold). I suppose it's a reasonable premise, though I haven't thought it through thoroughly.
quote:
Originally posted by 1945V
You guys are real die-hards.
"You'll stop sorting when they pull the unsorted rolls out of your cold dead hands"
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Edited by - Zyll on 12/22/2009 11:51:08 |
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 12/22/2009 : 11:55:55
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| I will still sort for as long as pennies are available at the banks. Then after that, I will buy unsorted lots from the general public based on weight. |
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AmalekiDad
Penny Pincher Member
142 Posts |
Posted - 12/22/2009 : 15:25:28
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When I have time - I go fishing. When I don't have time to go fishing, I sort halves, when I don't have any halves to sort, I sort copper.
My wife, job, kids, grand kids, church, life . . . all do a great job of keeping me from doing any of the above. |
Business Intelligence is NOT an oximoron |
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Sykesvillecoin
New Member
9 Posts |
Posted - 12/23/2009 : 19:48:20
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| good question, I can't really see myself giving up on roll searching, but than again, even if I do get to a point where getting boxes of pennies from the bank yields no copper pennies over and over again, I'd probably post ads in craigslist offering to buy copper pennies, but it would take copper pennies going down to one percent or less for it to drive me to the point where I'd post an ad on craigslist looking for copper pennies because there are so many spammers who use craigslist just waiting to email random people with their scams. |
want more copper pennies? I am selling them for $1.25 per roll plus $2 shipping for the first roll and 50 cents shipping for each roll thereafter |
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At what point do you stop sorting ?
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