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cyberdan
Penny Collector Member
USA
289 Posts |
 Posted - 10/10/2007 : 11:15:49
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Are cents weighed 16 ounces to the pound?
When kitco gives the price per pound is that based on the same 16 ounces?
How many cents per pound?
I know gold is measured differently.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/10/2007 : 11:22:41
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Copper prices are usually quoted by the pound (16 ounces) or by the metric ton (2,204.6 pounds).
Troy ounces (12 to the pound) are generally only used for precious metals (gold, silver, platinum, palladium, etc).
A "copper" penny weighs 3.11 grams (95% copper) so 2.96 grams of copper per penny. There are 453.59 grams in a pound. So to have a pound of copper you would need 153.2 "copper" pennies. In other words, you need 1.05 pounds of "copper" pennies to have a pound of copper. (Note: 145.9 "copper" pennies weigh a pound.)
Current price of copper is $3.63 a pound. |
Edited by - horgad on 10/10/2007 11:43:23 |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 10/11/2007 : 11:40:06
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Thanks for the info. That will help me later. I don't know yet if I want to keep track by quantity or weight. I plan on selling some also and don't yet know if I will sell by qty or weight.
How do you guys do this? |
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fiatboy
Administrator
912 Posts |
Posted - 10/11/2007 : 13:54:51
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quote:
I don't know yet if I want to keep track by quantity or weight. I plan on selling some also and don't yet know if I will sell by qty or weight.
How do you guys do this?
I'm curious about this as well. So far, I'm sorting my coppers by quantity, handwrapped and stored in the Brinks boxes. But it's starting to get a little ridiculous. How do you guys do this? |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/11/2007 : 14:11:37
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I am sure as heck not counting or rolling my coppers by hand. That time is much better spent sorting...IMHO 
In the future, I plan on selling my coppers loose by the pound with a description that includes the approximate number based on the weight. For $30 bucks or so you can get a decent electronic postal scale that will handle up to 50lbs and I don't really think you need much else.
Counting and rolling are nice, but the guy buying from you might just want to unwrap them all anyways and you can get close enough to the count with weight...
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Edited by - horgad on 10/11/2007 15:05:14 |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 10/11/2007 : 14:43:18
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| i sorted and then rerolled my first few boxes worth of copper. it became too time consuming so i said heck with it. now i keep them in coffee cans and protein powder containers. eventually i would like to get a counter and see if i could count $25 worth loose into the brinks boxes. they stack so much neater and i could easily have an exact count. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/11/2007 : 15:12:26
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"count $25 worth loose into the brinks boxes"
Unfortunately, I don't think you could ever get the $25 bank into a brinks box without rolling them. They just take up a lot more space when they are loose.
I remember when I made my first couple of zinc returns and I had stored the loose zincs back in the Brinks boxes. Based on how many boxes that I had to return I estimated how much money I would get. When the counter returned the total, I thought it was broken as the total was significantly under my estimate. Then I later verified that what comes out of a box doesn't always fit back into the box:) |
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 10/29/2007 : 15:35:58
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"Unfortunately, I don't think you could ever get the $25 bank into a brinks box without rolling them. They just take up a lot more space when they are loose. "
Yep - I find 2 boxes rolled = 3 boxes loose!
Beer is my currency. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/29/2007 : 20:22:24
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Yeah, they take up a lot more space when they are not rolled. I think it is about 1900-2000 coins in one of the $25 boxes if they are loose.. so the zinc ones fill up the box when I take out the copper ones.
I prefer to count mine by machine. I like having them all bagged in $50 or $25 bags. The automatic rollers are great for rolling them if you have one, but they are kind of expensive. One 1000 foot roll of paper will roll up 1900-2000 rolls of pennies. For doing it by weight I just use 3 rolls per pound.. that will get you pretty close. I think I got a postal scale that measures up to 72 pounds on eBay for only $10.
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu675600(60000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
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how are pennies weighed?
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