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barrytrot
Administrator
USA
721 Posts |
 Posted - 02/24/2010 : 10:27:47
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quote:
Originally posted by rakattack
I see auctions on eBay for 10 lbs of copper going for $30 + $6.95 shipping and they're actually selling!! I MIGHT just have to start sorting for coppers again. That's more than 2x face :)
There is little chance this is a sustainable price. Put out 100+ auctions and 90 of them will go unsold, is my guess.
Although, I hope I'm wrong :) |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 02/24/2010 : 10:32:37
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rakattack as long as you are happy then go for it!
I found another Indian last night as well as some interesting foreign, wheats and copper! :-) As long as I am having fun, I'll keep doing it. However, when it feel more like just work, I'll stop and take a break.
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barrytrot
Administrator
USA
721 Posts |
Posted - 02/24/2010 : 11:19:47
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quote:
Originally posted by kirkland
I said in the future. Right now, you're lucky to get only a small bit over face for them, but after massive inflation hits, I think you will be likely to make much more of a gain.
The issue is that this "future" has not date to it.
- It may never happen.
- It may be several years.
- Depending on the situation the cents may not be valuable even then.
So many prudent people wouldn't concern themselves with something like that. Some prudent people would though :) |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 02/24/2010 : 11:32:55
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Coinflation shows theoretical melt value.
A more realistic value is what #2 copper gets at your local scrapyard.
In my town it's $2.50/lb.
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Trust the government? Ask an Indian. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/24/2010 : 12:27:02
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rakattack,
I would at least suggest having a 'copper bucket' next to you when you are sorting and if you happen to notice it is copper, just let it drop from your hand into the copper bucket.
That way no extra work is involved and you get to build up a small copper store. Plus, as mentioned, less work may be involved because that is less weight you have to haul back to the bank.
If you have $1000 or more in savings, then this small 'savings' of copper will never tie up your funds. And should pay out at 4X in the near future(2-10 years).
But do what is making you happy and you are comfortable with. |
"May your percentages ever increase!" |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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george454
Penny Pincher Member
242 Posts |
Posted - 02/24/2010 : 18:38:51
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I have resorted to hunting since I have amassed $275 in face value of copper and am tired of tying all my capitol up. Inflation sounds great but if they don't lift the melt ban and the value of a dollar falls to the floor who can afford to even buy pennies when they go 4 or 5 times face value, I guess you could trade them for a chicken or a hog. I have been watching eBay pretty close on there copper sales to offload some of mine to free up a little and they are truly hit and miss. I think hoarding coppers will be a loss, but I am tired of trying to explain to my wife why I am sitting on all these copper pennies. Everyone keeps saying the melt value is at .02, but I pose the question WHERE, In theory that's what they are worth but with the melt ban it is just that a theory.
Keep hording guys I am not trying to discourage it but remember even if currency fails how many people could you walk out on the street and say "hey this is a silver quarter and its worth three dollars", I guarantee at least 9 out of 10 would say "yeah right it is only worth .25 cents". Both party's have to know the value of something before its truly worth it.
I know I probably just opened a can of worms and I am sorry just kinda needed to vent.
These are only my opinions please don't take any of it to heart if I have offended anyone. I am sorry. Don't want to start a fight, love the forum and read every day even if I don't always post (I think less is more, just me), keep the post's up though love the daily reads. |
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nokozan
Penny Sorter Member
35 Posts |
Posted - 02/24/2010 : 19:20:37
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| people sort copper cents for many reasons, but all collections weather it be beani babys, pez containers, stuffed animals, crushed cans, they all have one thing in common its that there is always a small community of people that are fascinated and have a passion to collect it. anyone could say why do you collect that you will never make a profit, not everyone collects something to make a profit they do it because they have a passion inside of them to collect. for me its copper cents and its not to sell them later on in life for profit, its a hobby i enjoy doing its a relaxing activity to do with your free time that you take pleasure in. i will collect for my reason, you can collect for your reason. |
Edited by - nokozan on 02/24/2010 19:23:34 |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 02/24/2010 : 19:47:35
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I'm more or less in the same camp as george454 and some others. After I had to dump my hoard last December, I haven't replaced it, nor do I have any desire to. I do still CRH for wheats and Canadian Cu though. The Canadians are a superior coin and can be sold as scrap if need be.
As already stated, something is only worth what somebody is willing to pay for it, and theoretical MV is just that, theoretical... MV is a paper price. And like the paper price of Ag and Au, has no real connect to street price. U.S. pennies are red brass. Not copper, it is an alloy and will always be priced as such.
Not saying hoarding is a bad idea or one can't make money, IMHO it just isn't as lucrative as some think. Factor in all your gas, tape costs, fees and then your time...
One should just look at it as preserving buying power. Nothing more, nothing less. Anything else is a bonus. If they do eventually get a theoretical MV of 10¢, that means Cu is priced at $15.35/lb. That means there has been a big, big spike in Cu demand. Or, hyper inflation set in, which means everything else went up 500% in cost. What ever you can currently buy for a penny now, you will be able to buy for a penny then. In theory...
After 2 years, sortin' 'n' hoardin' just ain't for me anymore. Me personally, I'd rather have Ag then Cu, and that is not a written in stone guarantee either. I can carry my wealth in a mason jar with Ag, not the back of a 1 ton pickup truck with Cu.
If the melt ban never gets lifted, and Cu never catches on as a true PM like Ag and Au, that could be problem. Add to that the possibility of the cent getting demonetized and/or the banks no longer accepting them in any quantity, that could be a situation that does not end well for some.
Again, just my 2¢ (Canadian Cu ones) 
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Edited by - Bluegill on 02/24/2010 19:50:40 |
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 02/24/2010 : 20:00:05
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quote:
Originally posted by El Dee
Coinflation shows theoretical melt value.
A more realistic value is what #2 copper gets at your local scrapyard.
In my town it's $2.50/lb.
Exactly my thoughts. If it were legal to melt today @ $2.50/lb., then that would be 1.67X face using $1.50 in a pound. So in actuality, copper cents aren't far from bringing what I call "true melt value" at the moment by just selling them. No one gets the $3.25/lb. market price even on scrap pure copper.
Myself, I'm kinda sporatic in my copper searching. I'll do a box or 2 when it's raining or when there is nothing more productive to be done. It could be profitable for me one day, but there are so many other things that could be done to make more money in less time used, and less time waiting. It's just one of many side projects, not the main focus. I do enjoy the searches though, so I'll keep on with it. |
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Be Nice to BankTellers
Penny Sorter Member
USA
77 Posts |
Posted - 02/24/2010 : 21:42:59
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quote:
Originally posted by Mcprice302
quote:
Originally posted by El Dee
Coinflation shows theoretical melt value.
A more realistic value is what #2 copper gets at your local scrapyard.
In my town it's $2.50/lb.
Exactly my thoughts. If it were legal to melt today @ $2.50/lb., then that would be 1.67X face using $1.50 in a pound. So in actuality, copper cents aren't far from bringing what I call "true melt value" at the moment by just selling them. No one gets the $3.25/lb. market price even on scrap pure copper.
Myself, I'm kinda sporatic in my copper searching. I'll do a box or 2 when it's raining or when there is nothing more productive to be done. It could be profitable for me one day, but there are so many other things that could be done to make more money in less time used, and less time waiting. It's just one of many side projects, not the main focus. I do enjoy the searches though, so I'll keep on with it.
We get over $3/lb. But #2 copper about $2.80. |
Grandpa always told me, "Back in 1964..." I listened.
Selling copper cents @ $2.50/lb. + shipping. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/24/2010 : 21:57:56
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quote:
Originally posted by george454
Everyone keeps saying the melt value is at .02, but I pose the question WHERE, In theory that's what they are worth but with the melt ban it is just that a theory.
I am getting a buck a roll.. (2 cents each) at coin shows and coin club meetings. I'm not moving tons at this price level.. but I am moving some. |
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 - 02/25/2010 : 08:01:02
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quote:
Originally posted by barrytrot
quote:
Originally posted by rakattack
I see auctions on eBay for 10 lbs of copper going for $30 + $6.95 shipping and they're actually selling!! I MIGHT just have to start sorting for coppers again. That's more than 2x face :)
There is little chance this is a sustainable price. Put out 100+ auctions and 90 of them will go unsold, is my guess.
Although, I hope I'm wrong :)
7 Sold in the last 60 days. Not a reason to quit you day job, but there are a few buyers. |
You don't have to be the BEST you just have to be.......SLICK
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dp2007
Penny Pincher Member
130 Posts |
Posted - 02/25/2010 : 08:11:29
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| rakattack, If you don't keep the copper have you ever thought of finding a forum member near you to use as your "dump bank"? I'm sure someone would much rather buy your dumps than have to deal with going to the banks to get boxes/bags. Also it would be a great way for you to get rid of your dumps. I'd jump all over a set-up like this if I could. |
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 02/25/2010 : 09:14:01
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This thread has caused me to think about my motivations. I can't bring myself to even buy one box of those nickels I hate, but I find that I just love pennies. Would I love them as much if the copper ratio were 90%? Probably not. But finding those beautifully browned gems tumble out from among a sea of zinc trash...sorting copper from zinc introduces the thrill of the hunt without much disappointment.
I do agree that the real thrill is in the CRH. I love finding wheats. I love finding the BU 1959's that everyone hoarded then eventually released into the wild. I love the high relief, globby details of the 1964-1968 pennies. I love the 1965-1967 pennies, where the mint directly attacked hoarders like us by leaving off the mintmarks, no matter where they were produced. I love the seven S-mint years from 1968-1974.
I just found my first 1976 double-counterstamped penny with the liberty bell on the left and and outline of the country (with "USA" in the middle) to the right. I've read about them so it was a thrill finding one while sorting.
I felt giddy and acted like my 6-year-old son, running to my wife with the 1912-D I found this month. "It's a semi-key! This is a $6 penny!"
Most men's hobbies involve the thrill of the hunt. Nothing is a worse killjoy than a woman pointing out how the associated overhead of embarking on the hunt ruins the profit margin. As if practical considerations have had anything to do with hunting since the invention of barbed wire...please! So what if you never see a huge profit from selling the coppers...the potential is always there for the imagination to spur us on.
So quit being whining girlie men and go scalp that savage wild indian! You know he's lurking there in that next $25 box you have yet to open... |
Edited by - Zyll on 02/25/2010 09:22:50 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/25/2010 : 09:43:38
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quote:
Originally posted by Zyll
So quit being whining girlie men and go scalp that savage wild indian! You know he's lurking there in that next $25 box you have yet to open...
Or the one after that.. or the one after that.. |
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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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 02/25/2010 : 09:44:20
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| I think you said a lot there Zyll. Doing this as a hobby has some therapeutic value. The "thrill of the hunt" has a value. And once in a while you do find a $6.00 coin. I am sure people were saying the same thing about pulling silver from circulation 30 years ago also. Just think if years down the road we ARE getting 10 times face like silver is today. Then people won't think we were so foolish after 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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george454
Penny Pincher Member
242 Posts |
Posted - 02/25/2010 : 14:12:11
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| The thrill of the hunt has not left me or any of us that search I was simply trying to state that just becouse you don't sort for copper your not commiting a sin. My post was also not about the money or making money in the future. Some of us may have started off hoarding but have now strayed over to collecting and vice versa. Collecting is the exact thing as hoarding however now we choose narrow our searching fields weater it is through sorting or buying. Before a couple of weeks ago I was doing 3-5 boxes a week, so the hunt for me is still on, however I have know turned to searching boxes for specific coins. These include Bu coins, Wheats, Canadian George V (5 this year). At some point we all come to the descion of hoard or collect even if we choose one over the other, doesn't mean we have totally given up on the other. I find that If I cherry pick the coins I want then that leaves me more capatial to sort for the coins I need. I commend everyone on this forum and am glad to be a member here, just remember not everyone has to do it your way. |
Edited by - george454 on 02/25/2010 14:18:15 |
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 02/25/2010 : 17:03:35
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| Hear hear! I agree george454. The reduction of capital is a consideration, definitely. Once we can more readily sell the copper we sort, the game will change considerably so that sorting and selling frees more of your capital than catch 'n' release. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/25/2010 : 17:34:59
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quote:
Originally posted by Zyll
This thread has caused me to think about my motivations. I can't bring myself to even buy one box of those nickels I hate, but I find that I just love pennies. Would I love them as much if the copper ratio were 90%? Probably not. But finding those beautifully browned gems tumble out from among a sea of zinc trash...sorting copper from zinc introduces the thrill of the hunt without much disappointment.
I do agree that the real thrill is in the CRH. I love finding wheats. I love finding the BU 1959's that everyone hoarded then eventually released into the wild. I love the high relief, globby details of the 1964-1968 pennies. I love the 1965-1967 pennies, where the mint directly attacked hoarders like us by leaving off the mintmarks, no matter where they were produced. I love the seven S-mint years from 1968-1974.
I just found my first 1976 double-counterstamped penny with the liberty bell on the left and and outline of the country (with "USA" in the middle) to the right. I've read about them so it was a thrill finding one while sorting.
I felt giddy and acted like my 6-year-old son, running to my wife with the 1912-D I found this month. "It's a semi-key! This is a $6 penny!"
Most men's hobbies involve the thrill of the hunt. Nothing is a worse killjoy than a woman pointing out how the associated overhead of embarking on the hunt ruins the profit margin. As if practical considerations have had anything to do with hunting since the invention of barbed wire...please! So what if you never see a huge profit from selling the coppers...the potential is always there for the imagination to spur us on.
So quit being whining girlie men and go scalp that savage wild indian! You know he's lurking there in that next $25 box you have yet to open...
I love the way Zyll said all of this! Well put!
And true, a 'decent' turnover on selling the copper would allow/encourage an even fuller experience for more sorters. |
"May your percentages ever increase!" |
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bman
Penny Collector Member
USA
425 Posts |
Posted - 02/25/2010 : 18:47:54
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| I have a small stash of copper for if/when TSHTF but most of what I have sorted has been and will be sold. I use the FRNs to buy more rolls to search, I mainly look for wheats, Injuns, unusual foreign coins and errors and the copper is more-or-less a byproduct. |
check out my coins for sale on ecrater : http://bmanscoinsforsale.ecrater.com/ |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 02/25/2010 : 19:46:14
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quote:
Originally posted by Bluegill
The Canadians are a superior coin and can be sold as scrap if need be.
Add to that the possibility of the cent getting demonetized and/or the banks no longer accepting them in any quantity, that could be a situation that does not end well for some .
Again, just my 2¢ (Canadian Cu ones)
I agree that Canadians are a superior coin :)
If the cent is demonetized that will end well for those of us with big Cu penny hoards. Melt away or sell for bullion value. No more sorting allowed and the government destroying billions of pennies. Yes we will all be wishing we had collected more when we could. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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CrazyTom
Penny Sorter Member
USA
52 Posts |
Posted - 02/27/2010 : 08:07:23
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It's like buying a piece of property and sitting on it for a while. Holding any kind of property, including cents, is done for the future potential.
The don't-keep-all-your-eggs-in-one-basket adage applies. A small amount of your entire wealth held in copper cents is more like an insurance policy.
If we don't wreck the car then all of the insurance premiums are down the drain. But we still don't want to be caught without it.
Every time you convert one paper Federal Reserve note into 100 cents of real copper you have insured that you can still get value in the future.
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Read Atlas Shrugged if you want to know why this country is in the crapper. |
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bman
Penny Collector Member
USA
425 Posts |
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CrazyTom
Penny Sorter Member
USA
52 Posts |
 Posted - 02/28/2010 : 08:37:19
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quote:
Originally posted by bman
Crazytom aint so crazy after all!  well put!
Thx!
Just let 'em THINK you're crazy..... |
Read Atlas Shrugged if you want to know why this country is in the crapper. |
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Am I the only one who doesn't keep copper?
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