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Common Cents
Penny Sorter Member
82 Posts |
 Posted - 01/13/2010 : 14:29:19
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Hey Realcenters,
So I was at a family gathering the other day and I was trying to describe the whole penny sorting thing to one of my relatives. I wanted to use a simple analogy to describe the process. So I told him that it's like mining copper, except that instead of mining it out of the ground, you're mining it out of the money supply. But later, I thought about the analogy I employed, and wondered if copper refining wouldn't be a better analogy. You're taking metal of a lesser purity and increasing its purity- just like a refiner does.
So I wanted to get feedback from the forum. Do you think copper mining or copper refining is the better analogy to describe the penny sorting process?
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Corsair
Penny Hoarding Member
811 Posts |
Posted - 01/13/2010 : 14:32:40
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| Tell them it's like what happened with silver coins back in the late 60's. There was was money that was worth something for its metal. Then the Mint made coins that weren't worth anything for their metal. Just like it is today. |
So long, Realcent 1. Come visit us at Realcent.org! |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/13/2010 : 14:36:21
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| I think copper mining fits it better. You mine a bunch of stuff out of the ground and take out the copper. You get the zinc and copper and other crap with the pennies and you take out the copper. |
Copper Penny Investing
www.portlandmint.com |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 01/13/2010 : 15:01:42
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I think that you can explain something a hundred different ways, but if they don't understand, or it doesn't make sense to them, you are wasting your breath.
I have explained it to some bank tells that I have known for years. They look at me like I am crazy. I leave thinking they are crazy for not sorting, even crazier for not sorting out the silver they just sold me in the rolls of halves I just bought.
Some people don't understand, don't want to understand or simply just don't care. |
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 - 01/13/2010 : 15:24:11
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| I say it like getting 2 cent for one cent 100 percent return |
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hobo finds
Penny Hoarding Member
838 Posts |
Posted - 01/13/2010 : 15:49:29
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| I think copper investing would work. |
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copperhead57
Penny Collector Member
USA
255 Posts |
Posted - 01/13/2010 : 16:18:59
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It is kind of like looking for collectible bottles and cans in a old dump.  |
copperhead57 |
Edited by - copperhead57 on 01/13/2010 16:19:46 |
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 01/13/2010 : 16:49:12
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Regardless of whether they think gold, silver, or copper is valuable, perhaps enough people realize that there is a market out there for just about anything you can conceive of.
The reason (to a relativistic person) you're culling copper cents is because at some future date you'll be able to sell them for more than their face value. You don't really know what your selling price will ultimately be, but you're confident that you'll make a hefty profit if you take decisive steps now.
This way, the person you're talking to doesn't have to understand anything about precious metals, or the economy, or (at a basic level) what money IS. They can relate to the fact that even if they would never bother to mess with their pocket change, there will be a lucrative market for those willing to hang out a shingle. Right now you're just building your inventory while they're plentiful. |
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fb101
Administrator
USA
2856 Posts |
Posted - 01/13/2010 : 20:39:43
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| mining. |
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captaindarkangel
New Member
USA
17 Posts |
Posted - 01/13/2010 : 21:16:40
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| i go for mining |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 01/14/2010 : 00:44:15
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| I like what Zyll had to say. do it now, later you get a hefty profit. The most you could possibly lose on your money/investment is some percentage points to inflation if you did ever turn them back into the bank for funny money. BIG return potential, very small downside. Sounds like a solid investment to me! |
"May your percentages ever increase!" |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/14/2010 : 01:18:19
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I've always called it mining copper from circulation. I have given talks on it and demonstrating the Ryedale using that title at several coin clubs.  |
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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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/14/2010 : 01:19:08
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| Of course it always works better when you have lots of mining equipment. |
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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Common Cents
Penny Sorter Member
82 Posts |
Posted - 01/14/2010 : 17:24:40
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Thanks for the replies.
I guess mining seems to be the best way to describe it. I've got a friend that always gets a kick when he calls me and asks what I'm up to and I respond 'mining'.
Compared to some mining pictures that I've seen, I'll stick to the type of mining that you can do sitting on a couch any day of the week! Sure beats sweating and toiling underground! |
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misteroman
Administrator
USA
2565 Posts |
Posted - 01/14/2010 : 21:30:03
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quote:
Originally posted by dakota1955
I say it like getting 2 cent for one cent 100 percent return
I tried to explain this to a few older rich guys a few weeks back and they thought I was a circus clown. While I am pretty well off these guys are a little better off to say the least. Well at least the one def. is. I had to take there ribbing with a grain of salt and just remember what WE know and Why we're doing it |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 01/19/2010 : 14:25:37
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I say it in several ways.
If the person is new to me I tell them, "I am a collector looking for some old coins."
If the person knows I am going through many boxes of cents I tell them, "I am collecting copper cents."
A few times I have stated, "This is a way to mine copper from circulation."
All in all I just let people think I am nuts so they will leave me alone and let me keep it up. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Best Analogy For Penny Sorting?
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