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terminal99
Penny Sorter Member
53 Posts |
 Posted - 02/19/2010 : 16:23:44
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Does it really matter about the melt ban? I think, in the future, bags of copper cents will be sold the way pre 65 silver coins are sold today.
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jadedragon
Administrator
Canada
3788 Posts |
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terminal99
Penny Sorter Member
53 Posts |
Posted - 02/19/2010 : 16:46:48
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| When the general public becomes aware of a copper cents worth - that will be when we can say "we told you so". |
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Common Cents
Penny Sorter Member
82 Posts |
Posted - 02/19/2010 : 16:49:36
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| The melt ban is a lot more beneficial than most penny hoarders realize. If the ban were lifted it, the big industrial metal refiners would just start sucking the copper out of the money supply in a big way, and percentages would drop dramatically. I agree 100% with the idea that the melt ban isn't that big a deal. The copper has already been assayed and minted into tradeable units courtesy of Uncle Sam. Why melt it unless you really need the copper for another purpose? |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/19/2010 : 16:57:50
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| I agree also that copper coins will(are) be sold like pre-64. Lifting the ban would just dry up the source and make more people aware of the copper in the coins. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/19/2010 : 17:58:42
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| I don't think that they will become mainstream until the percents are less than 5% in circulation. Most people have never seen a silver dime or quarter. When it get to the point were copper pennies are a rarity in change, then the market will start growing exponentially. |
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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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 02/19/2010 : 22:44:39
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Copper cents are "good money" and by natural law they will be removed from circ..
We are doing all we can to make that happen. In what year was silver worth 2X face?
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Come to the new and improved realcent: http://realcent.org
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/20/2010 : 08:24:59
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quote:
Originally posted by thogey
Copper cents are "good money" and by natural law they will be removed from circ..
We are doing all we can to make that happen. In what year was silver worth 2X face?
When silver was $2.77 / oz That would make a roll of dimes worth $10.02 |
You don't have to be the BEST you just have to be.......SLICK
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Edited by - slickeast on 02/20/2010 20:06:18 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/20/2010 : 20:21:00
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quote:
Originally posted by terminal99
Does it really matter about the melt ban? I think, in the future, bags of copper cents will be sold the way pre 65 silver coins are sold today.
I agree, and remember 90% silver coins had a melt ban on them too for several years.
The founder of Investment Rarities use to sell bags of 90% that he sorted out of the trunk of his car. Times sure change. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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nokozan
Penny Sorter Member
35 Posts |
Posted - 02/21/2010 : 12:25:47
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| i agree i think all of the hard work is done already the date is the government stamp of the quality of the metal. everyone you try to tell about copper cents always come back with " but its illegal to melt them". they don't understand the temporary melt ban is more of good thing at the moment. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/21/2010 : 18:25:11
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SAY NO to lifting the melt ban!
Say yes to more copper!!!! |
"May your percentages ever increase!" |
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nologiks
Penny Sorter Member
83 Posts |
Posted - 02/22/2010 : 11:02:37
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| Collecting my millions one penny at a time |
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barrytrot
Administrator
USA
721 Posts |
Posted - 02/22/2010 : 11:21:39
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Those with a big hoard will benefit greatly from the lifting of the melt ban.
Right now you can get 1.4x including shipping IF YOU ARE LUCKY (see marketplace for examples) for cents. That's basically 1.28x with shipping backed out.
Meanwhile the coin is really worth 2.2x and refined copper goes for a premium on that, but lets just say 2.2x + shipping.
If you have a hoard of 5 tons (several here do and one member has at least 60 tons!) that means an instant income of $13,000 (60 tons would be an immediate income of almost $160,000!)
That's a pretty size-able immediate income. |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 02/22/2010 : 18:14:13
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| I know one person who would benefit from the melt ban being lifted ryedale. Some big industrial would probably pay him a ton of money to develop a machine that can thousands of pennies per minute. |
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Why worry about the melt ban
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