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StuffGiant
New Member
USA
12 Posts |
 Posted - 02/15/2010 : 11:26:07
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Hello everyone! Long time observer/first-time poster. I thought I could contribute to the board by posting the many reasons I save/sort pennies. I am not a huge sorter but I enjoy the hobby very much. I am thankful to have this board to go to on a regular basis.
Here are the reasons:
Saving/Sorting pennies is a fun long term hobby/investment.
It is a hobby you can do in your spare time, any time of the day.
It is a hobby you can participate at any level you want. (Big or small)
It is a low cost/risk way to hedge against inflation.
You will never lose money on your investment if you accumulate at face value.
It’s difficult not to buy something that may double in value in a short period of time.
They are 30 – 100 years old. (This reason is just cool)
They are a pain to spend so you won’t cash them in. (except for in a true emergency)
Numismatic finds.
They are liquid.
(Copper pennies can be traded and sold now at ebay, realcent, coppercave and APMEX)
Freedom! (no social security number is attached to them)
They are already assayed by a recognizable reliable source. (Free)
They are a true storage of value.
(If you never need to use them you can pass them on to your friends/family)
They can be liquidated in large or small increments as needed.
(As opposed to a large chunk and taxable transaction like real-estate)
It takes a lot of energy, labor and equipment to mine copper. (These costs will likely go up)
Copper is essential in our power grid. (Our power grid does and WILL need to be updated)
Many feel that there is just not enough copper to meet the worlds growth needs in the future.
(Consider China’s and India’s future needs alone)
Copper has ALWAYS been money.
When the copper pennies are all gone from circulation, where will you buy copper with no risk?
Sorting and searching can be fun and even therapeutic.
Having hundreds or thousands of dollars worth of copper pennies can help you feel more secure.
Gresham’s Law.
Survival reasons. Trade or currency WTSHTF
They can be a fun conversation item with friends.
The most important reason to save copper pennies…
Grandma always told you to save your pennies!
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/15/2010 : 11:34:26
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| For all of the above resons well said |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 02/15/2010 : 11:35:41
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Welcome!!!
Enjoy your coin searches, everyone.  |
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 02/15/2010 : 11:48:09
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| Welcome to RC, glad to have you. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/15/2010 : 12:20:10
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Welcome to the forum StuffGiant. How long have you been out there lurking?
Great first post! I would say yours is the best first post by any member I have ever seen. Glad you finally decided to join.  |
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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kirkland
New Member
USA
0 Posts |
Posted - 02/15/2010 : 12:34:39
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Amen! Nothing more is needed to be said. Great first post, indeed. Welcome to RealCent!  |
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nokozan
Penny Sorter Member
35 Posts |
Posted - 02/15/2010 : 12:50:16
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wow nice entrance and introduction into the forum community i look forward to seeing what you have to say in the future. great post loved all the reasons. Gresham’s Law is true and this opportunity will not last forever.
i got to let this out guys its been inside and i have not told anyone about this.
this happened to me recently one of my coworkers noticed me searching the dates of the penny's in the till she asked "what are you doing?" instead of telling her i collect all pre 1982 cents i just said "Im looking for wheat cents i keep them." her response was "what is a wheat cent?" I was so shocked not even that amount of education was available to her. I soon found a wheat in the till and showed it to her. once i showed her she said " oh yeah i seen those...why do you collect that?" my reply was "because its an older cent and it has some collector value." her reply to that statement was "whatever helps you sleep at night". this girl is so clueless to monetary policy/history i feel privileged just to have the mere knowledge of about coin composition and history of sound money devaluation into what have today. i wanted to just school her so bad about what the dollar really is but i had to just hold. i have to admit it does help me sleep at night knowing i have silver and gold.
this for me is a really great opportunity that so few people know about and ill probably never forget that conversation as i don't talk a lot about my secret ok i feel better now, happy sorting! |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 02/15/2010 : 13:06:48
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| Welcome StuffGiant you pretty much said it all. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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metalmoney.ca
Penny Pincher Member
Canada
223 Posts |
Posted - 02/15/2010 : 13:10:31
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"It’s difficult not to buy something that may double in value in a short period of time"
I take issue with this point. My pennies double in value instantly :) |
metal is a claim on future human labour. let's all go get some while the getting is good, eh? |
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oldBPman
Penny Sorter Member
83 Posts |
Posted - 02/15/2010 : 15:14:01
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I could be off by pennies but i think copper spot price is about $3.08 a pound right now. It takes 3 rolls of pennies to make a pound and has the face value of $1.50.
3 rolls of pennies could bring 3 dollars if they could be melted down at the junk yd.
I just finished sorting a carboy 3/4 full of pennies, I quit making beer yrs ago and the carboy was handy., I got 51 rolls of pre 82, 2 rolls of copper 82 and 6 rolls of copper Canadian pennies, almost 19 rolls of wheat pennies,eight 43 steel pennies, the best coin I found is a 1930 Canadian penny.. no 43 coppers or 55 double die ect.
I used a reloading scale to seperate the 82 coppers and the canadian copper from the junk. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/15/2010 : 16:18:36
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| Technically there is 2 cents of copper in every cent.. but as anyone who has sold copper pennies or scrap metal knows.. it is hard to get spot price when selling. Current price is a little off the spot price. I have sold copper cents for 2.25x in the past when copper was higher though. |
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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maoguinn
Penny Pincher Member
USA
118 Posts |
Posted - 02/15/2010 : 21:15:49
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| Remember, if the melt ban is lifted we will only get #2 copper prices for pennies at the scrap yard. In my area #2 copper is 2.40lb - 2.60lb. We will definetly not get current market prices. Keep sorting and saving and wait for prices to go up. |
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StuffGiant
New Member
USA
12 Posts |
 Posted - 02/15/2010 : 21:16:28
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| Thank you for the kind words. I have been watching the forum on and off for a couple years. I am happy for the members that have been able to double their money as soon as they buy the pennies. I have not seen people getting double right away but im sure the day will come soon. I like to under promise and over perform on my statements. I focus on the long term and I am not looking to turn the pennies over anytime soon. Looking forward to getting to know some of you in the future. |
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goodcoin
Penny Sorter Member
42 Posts |
Posted - 02/15/2010 : 21:19:44
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| In China copper is the poor mans gold. If we had a coin, such as the penny, worth twice face value in metal, people would be picking thru their change so quick that within a Shanghai millisecond the coin would no longer exist in circulation. Just think what a handful of copper coins will purchase five years from now. I’m looking forward to saving copper pennies when I return to the States. |
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nologiks
Penny Sorter Member
83 Posts |
Posted - 02/17/2010 : 11:37:31
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@Nokozan
"i got to let this out guys its been inside and i have not told anyone about this.
this happened to me recently one of my coworkers noticed me searching the dates of the penny's in the till she asked "what are you doing?" instead of telling her i collect all pre 1982 cents i just said "Im looking for wheat cents i keep them." her response was "what is a wheat cent?" I was so shocked not even that amount of education was available to her. I soon found a wheat in the till and showed it to her. once i showed her she said " oh yeah i seen those...why do you collect that?" my reply was "because its an older cent and it has some collector value." her reply to that statement was "whatever helps you sleep at night". this girl is so clueless to monetary policy/history i feel privileged just to have the mere knowledge of about coin composition and history of sound money devaluation into what have today. i wanted to just school her so bad about what the dollar really is but i had to just hold. i have to admit it does help me sleep at night knowing i have silver and gold."
Seriously I know the feeling, But I do sometimes get on my soapbox at work and tell people what the value is off things. Usually they don't listen, but it is my free gift to them if they ask or have questions. I don't want anyone near me to have problems because of a collapse or hyperinflation.. I try to educate, but they will realize that my knowledge that I give them is valueable, sometimes it maybe too late tho.
And to the StuffGiant well said! Good job welcome to the site. |
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CrazyTom
Penny Sorter Member
USA
52 Posts |
Posted - 02/17/2010 : 18:54:00
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I was too young in 1964-5 to understand the bamboozle foisted on the American public when silver coins were replaced with the garbage we have now.
The pennies are simply history repeating itself and those who don't know history are doomed to repeat it.
When the citizen owns strategic metals the citizen has power. When sniveling politicians confiscate metals and offer you paper then they have power.
The clueless sheeple will continue to accept the slugs and funny money and wonder why they keep getting fleeced through inflation, and at the same time think you are a conspiracy nut for hoarding real money.
In a pinch those same people will either come to you for advice after it's too late, or turn you in for a reward. Such is the public educated electorate.
I don't glean pennies to get rich. I do it to exercise what little rights we have left in this new American socialist utopia. I do it to remind myself of the difference between freedom and slavery.
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Read Atlas Shrugged if you want to know why this country is in the crapper. |
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sssn
New Member
USA
1 Posts |
Posted - 02/18/2010 : 09:03:31
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| HELP new to forum and would like to know if saving pennies is profitable as is or just a means of saving for the future given idiots who run things. what percentage of 100 dollars in pennies a return? how many pennies in a lb. of copper. beg your forgivness for my ignorance. thanks for help. 'remember the alamo' sssn |
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kirkland
New Member
USA
0 Posts |
Posted - 02/18/2010 : 09:12:55
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Welcome to RealCent, sssn! You aren't ignorant! Especially if you realize that idiots are running things in the world.
100 Dollars in copper pennies is worth around 200 to 220 dollars, but you could probably sell it for 160 to 175 dollars. A nice profit there just by getting a lot of pennies.
There are 154 copper pennies in a pound, as far as I remember.
You're welcome to ask any questions if you like. Don't feel as if you are ignorant! Just new, that's all!
Happy Hoarding!
Kirkland |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 02/18/2010 : 22:56:14
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Hey there SSSN! Welcome to RealCent. Ask your questions! There are hundreds of people here who would love to help you. There are a few wackos (I'm one) whose opinions you should take with a grain of salt, but overall, a lot of wisdom to be had here if you just ask.
I have figured 146 copper cents to make a pound of coins, and 154 copper cents to make a pound of copper. So in my small sales, I just go 3 rolls to a pound.
I'm not sure if this is what you were asking, but if you buy and sort $100 worth of pennies, you should get about $20 face value in copper, assuming you get average stuff. Some people here get a lot more, some get quite a bit less. |
Come to the new and improved realcent: http://realcent.org
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PointOmega
Penny Sorter Member
50 Posts |
Posted - 03/09/2010 : 17:17:43
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| I'll offer another 2 reasons to sort/save copper pennies; because it's an agreeable exercise when I'm enjoying Kentucky bourbon and smoking a good cigar. The three of them together are so damn civilized. |
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Nacinator
Penny Sorter Member
28 Posts |
Posted - 03/25/2010 : 04:48:02
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| Welcome StuffGiant you pretty much said it all. I wish my first post was more along those lines instead of "Long time lurker first time poster". |
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StuffGiant
New Member
USA
12 Posts |
Posted - 03/29/2010 : 10:08:53
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| CrazyTom, I re-read your post above today. For some reason it sunk in even deeper with me than it did a month ago. Freedom is under attack by the govenrnment in America. If I were rewriting my initial post I would put Freedom at the top of my list. Thanks for the contribution to this thread. |
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Fatboy
Penny Sorter Member
USA
81 Posts |
Posted - 04/14/2010 : 03:27:18
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quote:
Originally posted by PointOmega
I'll offer another 2 reasons to sort/save copper pennies; because it's an agreeable exercise when I'm enjoying Kentucky bourbon and smoking a good cigar. The three of them together are so damn civilized.
That makes for a pleasant mental picture and I don't smoke nor drink! |
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Fatboy
Penny Sorter Member
USA
81 Posts |
Posted - 04/14/2010 : 03:33:22
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quote:
Originally posted by Fatboy
quote:
Originally posted by PointOmega
I'll offer another 2 reasons to sort/save copper pennies; because it's an agreeable exercise when I'm enjoying Kentucky bourbon and smoking a good cigar. The three of them together are so damn civilized.
That makes for a pleasant mental picture and I don't smoke nor drink!
Second thought: Do you wear a loose button down print shirt, with a wide brimmed light color hat and do your sorting on a covered porch in a wicker chair?
My vision is that of a Southern plantation not down in the basement or out in a shop with the radio playing in the background. |
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StuffGiant
New Member
USA
12 Posts |
Posted - 04/25/2010 : 09:52:39
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| I now can say that I see an auction on Ebay where the seller is getting almost exactly 2x face. (including shipping) I am going to step up my sorting a notch or two. |
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StuffGiant
New Member
USA
12 Posts |
Posted - 05/02/2010 : 08:51:17
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| I though of another reason to post on this today. If we get long term high inflation, the price of copper should increase making the copper value of the pennies worth more. If we get serious long term deflation, the value of the face value should go up. (Purchasing power) In either extreme we win on this bet! Do you see this the same way? If not where am I going wrong here? Thanks :) |
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Many Reasons To Save/Sort Copper Pennies
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