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mj2322
New Member
20 Posts |
 Posted - 04/06/2010 : 11:14:12
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Hi all. I am an electrician here in Texas and was needing ur opinions. I save all scrap we have and strip alot of it. What I am wondering is would you just save the #1 as bullion or sell it and buy silver or more pennies. In the past I sell then buy a gun or another fishing pole since I fish tournies here in Texas. I have been hand sorting off and on for 2 years or so and have about 1/4 ton, but have always sold any scrap. At nearly $3 a pound its hard to hold on to it.
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 04/06/2010 : 11:51:47
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| sell and then buy silver |
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coppertone
Penny Sorter Member
Canada
63 Posts |
Posted - 04/06/2010 : 14:40:59
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| I agree with Dakota |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 04/06/2010 : 14:46:26
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| I agree...sell copper scrap and buy silver now! |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/06/2010 : 15:38:53
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Bundle it up and scrap it now while prices are still high. What you want to do with the money is your business, but a guy could do a lot worse than to put it into copper pennies. |
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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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cpthnsolo
Penny Sorter Member
50 Posts |
Posted - 04/06/2010 : 16:14:41
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quote:
Originally posted by Ardent Listener
but a guy could do a lot worse than to put it into copper pennies.
I certainly hope he wouldn't cash in scrap copper just to buy copper pennies. Granted copper pennies are a rock solid investment but trading out of a highly liquid form of copper into a less liquid one doesn't make sense IMO.
Assuming you have some silver stashed away, then why not hoard a bit of scrap Cu if you have the space? If space is a concern though then sell it and buy more silver.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/06/2010 : 19:47:41
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| Silver is a fine investment. It has recently gone up a lot. It could continue to go up much more or it could take a big dive down again. Copper coins are not liquid for their metal melt but if we go deeper into this recession they will always still at least have their face value and be liguid as cash. That is why I said a guy could do much worse than to put extra money into copper coins now. But like everything in life we each must decide what we feel is best for ourself to do and no one else. |
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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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 04/06/2010 : 20:03:35
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| What you do with the money is up to you. But if it were me, I would be selling to the highest bidder pretty soon while the prices are up. Again, what to do with the cash is entirely up to you. I wouldn't buy silver at just any price, but your investment strategy is probably different than mine. But yeah, it is my opinion to sell the wire while prices are up, even if it's just half the pile, and then see what happens in a month or two. Then make the choice again. |
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maoguinn
Penny Pincher Member
USA
118 Posts |
Posted - 04/06/2010 : 21:08:16
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| I agree with everyone else, sell it all while prices are high. Buy as much precious metals as you can. |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 04/06/2010 : 21:58:57
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I must agree that copper is currently high in respect to the overall history. Silver by all rights is as ardent has disclosed tumultuous at best. It could jump it could sink all in a matter of months it could do both.
I like copper so I am somewhat biased to the metal. Copper does fluctuate and can sink but not quite the rate of silver. I am of the opinion that as we slowly enter inflationary mode as we are now with the TB % increase. It is only a matter of time $4.00 a lbs plus copper will be here. Having your hands directly on the supply chain I would sell half, invest in silver and hold half for the ticking clock.
Copper is extremely liquid . Every developing nation will need copper for the rest of time. It's not an advanced industrial used metal, it is a necessity.
To me, again, I like the future of copper very much. The silver tree is not done shaking, the powers that be will continue to entice and drop the hammer several more times.
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 04/07/2010 : 12:52:57
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Ardent brings up a good point about having the 1¢ backstop in FV of the coins if you were to sell and buy pennies. But, like everything else in life there is a trade off. You will be trading premium No. 1 Cu for less valuable red brass.
Thinking from a different angle here, maybe consider selling while the price is high and pay off high interest debt (if you have any). Or make what ever larger purchases you have been contemplating in the coming year. Cu prices are high and inflation hasn't fully reared it's ugly yet. Take advantage of the combo.
JMHO 
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 04/07/2010 : 13:56:05
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quote:
Originally posted by cpthnsolo
quote:
Originally posted by Ardent Listener
but a guy could do a lot worse than to put it into copper pennies.
I certainly hope he wouldn't cash in scrap copper just to buy copper pennies. Granted copper pennies are a rock solid investment but trading out of a highly liquid form of copper into a less liquid one doesn't make sense IMO.
Assuming you have some silver stashed away, then why not hoard a bit of scrap Cu if you have the space? If space is a concern though then sell it and buy more silver.
I disagree. I would feel copper pennies at face value are the safest investment of all with regards to fluctuation in price. I would take the profits and go and buy as much pennies at face at the bank to sort. I mean I love silver and think it is a great investment. However, we have seen it go up to $20 and down to $9 and then back up to $19 and back down to $15 in just the last couple of years.
On top of that, you may get wheats, dimes, etc in those boxes of pennies from the bank. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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JWRAY
Penny Collector Member
USA
378 Posts |
Posted - 04/07/2010 : 14:42:07
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| And cmon, its fun to sort pennies! Its like investing and getting entertainment. |
MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
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EZ_Money
Penny Pincher Member
USA
125 Posts |
Posted - 04/07/2010 : 19:38:46
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| If you have enough copper to fund it, you could really do both. Get together $500 to get a box of halves and use the rest for pennies. After you sort the halves you could use the difference from the pennies to "refund" your half box order for any silvers you pull. Sort the halfs for silver and the pennies for copper. Keep pulling the silver and copper until you get down to the $500 range then cash some more scrap to keep it going. |
Running total:
Halves searched:$14,445.50
90% found: 122
40% found: 481
Dimes Searched $2100
Found: 5 |
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Dumpster Diver
Penny Collector Member
USA
474 Posts |
Posted - 04/07/2010 : 20:28:59
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I struggle with selling it too...plan to get my own furnace and make 25 oz trade bars.
Probably still won't sell the bars 
I think I've gotten emotionally attached to it-all the work and time spent stripping it! |
"You're not really gonna throw that out...are you"? |
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Nickelless
Administrator
USA
5580 Posts |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/09/2010 : 00:08:50
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I don't know..... if you have years to sit on it, and the space to put it.... I would say keep it.
How much are you getting for #1 copper anyway?
If it is less than $2/lb then it is a no brainer to say keep it. If you are getting $2.90/lb then.... fishing rods, silver, gold and copper pennies are that bad of trade offs.
I just wish I DID have more .99 pure copper.... like #1 copper wire scraps! |
"May your percentages ever increase!" |
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mj2322
New Member
20 Posts |
Posted - 04/09/2010 : 10:21:25
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| Well, went ahead and sold it. Got $3 for stripped and .75 for insulated. Think I'll mix it up a little. Falcon rod, used 45 and rest on pennies. I think I have decided for now that as long as it is over $2.50 lb I'll keep selling and if it drops back down ill keep. Thanks for all ur suggestions. |
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Nickelless
Administrator
USA
5580 Posts |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 04/09/2010 : 18:44:46
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I agree with Nickless as nickles are the way to go for someone without a Ryedale. Also I must say we are getting $1.50 for insulated wire here in Florida and we are a ways away from reality, those up north with the right yard can get more. I must say that to me a rod and reel or some other trivial investment seems the wrong place to put an easy savings account.
I wish you and all well!
Please remember the sun does not shine everyday. Rainy days will come and a small hoard may be a mountain of reward! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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mj2322
New Member
20 Posts |
Posted - 04/09/2010 : 21:54:08
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| Wish we were getting $1.50 for insulated. As for rod and reel. Thats what I do for fun. If I spent everything on the future and none for the here and now I feel it would be pointless (life that is) I try to balance now and the future cause I just don't know when he will call me home. I'm just glad I found this site. I wont be set as good as some of ya'll with 5 ton hoards but I should be better of than the sheeple with my small hoard, few guns and some food stocked up and a little more added each week. |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 04/11/2010 : 07:44:54
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Makes sense!
Love Life and all it's beauty!
Sounds like you have your ship sailing smooth!
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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tomwhite55
New Member
1 Posts |
 Posted - 04/23/2010 : 11:27:37
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Thanks for all of the great posts! Mister Sparky is by far the best electrician company in Houston! Not only was the staff friendly, they gave great advice and customer service with a smile on their face! I love the 100% guarantee that Mister Sparky offers, it allows me to feel safe knowing that if anything goes wrong, I have a business that will come fix it! Here is their website-- check it out!  You must be logged in to see this link. |
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Keep #1 or sell and buy silver/copper
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