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coppertone
Penny Sorter Member
Canada
63 Posts |
 Posted - 02/01/2010 : 18:18:01
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What is the estimated total face value and tonnage of copper pennies in circulation in the US and Canada?? I am sure this information is present somewhere but not sure where.
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kirkland
New Member
USA
0 Posts |
Posted - 02/01/2010 : 18:24:34
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| Well, I'd guess about 20% of all pennies in circulation. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/01/2010 : 18:55:14
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| I would think it's a bit higher, because I get closer to 30% copper when I sort. |
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 02/01/2010 : 19:57:17
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a few bigilion pennies total with a face value of "a lot". total tons are many.
for reference...
one is one
two is a couple
three is a few
four is many
and five is a lot.
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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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Be Nice to BankTellers
Penny Sorter Member
USA
77 Posts |
Posted - 02/01/2010 : 20:54:46
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Using some broad generalizations here, but I think there are about 360 billion cents in circulation in the US (as much as cents are circulated). Of those, about 20-25% are copper. So, conservatively, 75 billion, or $750 million. Using the simple 2/3 measure for copper and 150 cents/pound, that would give 500 million pounds, 25000 tons with a copper value of $1.5 billion or thereabouts. So the potential gain at today's copper prices is $750 million.
Better get your share while you can! |
Grandpa always told me, "Back in 1964..." I listened.
Selling copper cents @ $2.50/lb. + shipping. |
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coppertone
Penny Sorter Member
Canada
63 Posts |
Posted - 02/01/2010 : 21:49:58
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Thanks BNTBT, that was was info I was hoping to get. Now if I could find the same info for Canada.
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Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 02/01/2010 : 22:29:08
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You know if you can hammer down a number, you could figure out how long it would take the big boys to take those cents out of circulation either using ryedales or some commercial sorter 24/7.
It might take longer then we think to grab those copper pennies. |
Robber Baron= Robarons |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/01/2010 : 22:38:38
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| Mr. Ryedale had some numbers posted once talking about how long it would take for X number of Ryedales to pull all the copper. Lets just agree that there are more copper pennies out there than you could afford to hoard. That is if you had enough time to gather them all. |
You don't have to be the BEST you just have to be.......SLICK
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 02/01/2010 : 22:53:49
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| I don't think we (or they or whoever) could ever get ALL the copper, unless we somehow could DISPOSE of the zincs. They would just become fewer and further between. Swimming in a sea of zinc. |
Come to the new and improved realcent: http://realcent.org
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rosco
Penny Collector Member
USA
254 Posts |
Posted - 02/01/2010 : 23:45:49
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| I'm only getting 16 to 20 % leave some for the Slow Low guy |
Old Geezer a HAND Sorter |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
 Posted - 02/01/2010 : 23:49:48
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quote:
Originally posted by slickeast
Lets just agree that there are more copper pennies out there than you could afford to hoard. That is if you had enough time to gather them all.
This happens to members all the time. You hoard all you can afford to hoard.. you sell some off.. then you are Right back in the game!  |
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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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 02/02/2010 : 02:11:32
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There's probably not as many coppers out there as you think, I addressed that in this article:
You must be logged in to see this link.
Even if there were as many as BNTBT suggests, that's less than $1,000,000 face value per realcent member, because Hoard isn't going to be happy with less than half.
If you crunch the numbers, although it sounds like a lot, the tonnage (150 - 180,000 tons) of circulating copper cents is less than what one big copper mine produces in a single month. Members that were around (I wasn't one of them) a few years ago when Jackson Metals was attempting to pre-corner the market in hopes of congressional help lifting the melt ban, can tell you that the copper disappeared darn fast, and people were getting skunk boxes of pure zinc frequently. I recommend you grab what you can as soon as you can, you'll really be annoyed with yourself if it happens that the opportunity evaporates in front of you while you dillydallied with this and that, and complacently figured "oh, heck, I can always sort tomorrow." Especially if you're hitting low percentages now... what are you waiting for? You think it will be more fun when they are down to ten, or five percent? You guys who are getting higher than the 18-20 percent we get in CA ought to consider yourselves darned lucky for the opportunity you have. We have to sort twice as much just to break even with you, and we can't buy in bags, either.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
Edited by - beauanderos on 02/02/2010 02:13:24 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 02/02/2010 : 02:18:19
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quote:
Originally posted by coppertone
What is the estimated total face value and tonnage of copper pennies in circulation in the US and Canada?? I am sure this information is present somewhere but not sure where.
I added all the mintage figures together for the years the Lincoln cent was in production. Found the info in Coins Magazine. You probably have a Canadian version that lists the same info. Out of that total amount of circulating cents, just figure that about 20 on the low side to 25 on the high side for a nationwide average are copper, and you can compute your answer from there. The sources you seek for information haven't been found by my googling, so we have to derive our own figures.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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kirkland
New Member
USA
0 Posts |
Posted - 02/02/2010 : 07:41:07
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| Your average is the same as mine, rosco. 16 to 20 percent is average for me, sometimes a lot less, other times a lot more. Can you believe that some of these guys have a 30% average! |
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dp2007
Penny Pincher Member
130 Posts |
Posted - 02/02/2010 : 08:01:45
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| I've been CRH' ing since Sept '07. My percentages are exactly the same now as then. I think it'll take awhile before the "big boys" put a dent in the copper. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/02/2010 : 08:24:56
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quote:
Originally posted by dp2007
I've been CRH' ing since Sept '07. My percentages are exactly the same now as then. I think it'll take awhile before the "big boys" put a dent in the copper.
If one of these "big boys" happens to be near you, your percent will drop big and it will drop fast. |
You don't have to be the BEST you just have to be.......SLICK
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/02/2010 : 08:34:27
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I agree with Slick. A lot of members weren't around a few years ago when Jackson Metals was making their play and we were all getting solid zinc circ boxes. Nothing worse than getting an order of 24 boxes of zinc. Then you have to dump it. At least the sorting went really fast.. you just popped the box on the scale and didn't even have to open it. It was almost looking like "game over" for many of us. The percentage of winners in a box were about the same as searching through half dollar boxes.
I bet the percentages of silver in rolls were really good in early 1965. How long did that last? And that was before there were coin processing companies with machines that could automatically sort all the coinage by metal content. |
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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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/02/2010 : 08:38:12
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quote:
Originally posted by beauanderos
yeah, unfortunately I'm a stone throw's away from Hoard, and not that far from Portland Mint. Grrrh 
Sounds like you need to find out from the Portland Mint where NOT to order coins. |
You don't have to be the BEST you just have to be.......SLICK
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/02/2010 : 08:39:52
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| Gonna have to start driving south to do my dumps. |
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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coppertone
Penny Sorter Member
Canada
63 Posts |
Posted - 02/02/2010 : 22:59:00
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| I was curious as I view copper as primarily (but not exclusively) an industrial metal whose value is determined by industrial demand. When the melting of copper coinage is finally allowed and this "reserve" becomes accessible to industrial markets, will this have any significant effect on copper price and if so for how long. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/03/2010 : 02:43:01
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If the members statistics of "all copper only equal to one mine's monthly production" then NO, it should have very little affect on price.
Hey, senior guys, Haven't we had this discussion on total outstanding and time to dissapear before? I know I remember seeing calculations before! |
"May your percentages ever increase!" |
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Copper pennies in circulation
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