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Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 05/01/2010 : 12:14:11
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At some point everyone will hit their limit i.e. either on the number of copper pennies they can afford to save or the number of pennies they want to physically have on hand.
After this and your Reydale cools down, what will you do next?
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NoCents
Penny Collector Member
USA
340 Posts |
Posted - 05/01/2010 : 12:20:37
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Flip'um.
Either sell them to get more, or pocket the profit.
As long as they keep selling, keep sorting. |
What's in it for the dude? |
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Sykesvillecoin
New Member
9 Posts |
Posted - 05/01/2010 : 19:58:36
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| Sell them and keep sorting. btw, if money's an issue and you have a credit card you can use, borrow money from that to sort pennies, sell the copper ones on ebay, take the zincs to another bank and write a check for the amount of money your deposit at that other bank was based on the amount of the zinc pennies, than get more unsearched pennies at the bank you normally get your pennies from, than sell the copper pennies from that round of seraching on ebay, than use the proceeds from the copper pennies plus the extra zinc pennies from that second round of previously unsearched pennies and pay off the credit card. That process will give you an extra $50 to search more pennies with for every $200 you borrow from your credit card. |
want more copper pennies? I am selling them for $1.25 per roll plus $2 shipping for the first roll and 50 cents shipping for each roll thereafter |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/01/2010 : 20:16:43
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quote:
Originally posted by Sykesvillecoin
Sell them and keep sorting. btw, if money's an issue and you have a credit card you can use, borrow money from that to sort pennies, sell the copper ones on ebay, take the zincs to another bank and write a check for the amount of money your deposit at that other bank was based on the amount of the zinc pennies, than get more unsearched pennies at the bank you normally get your pennies from, than sell the copper pennies from that round of seraching on ebay, than use the proceeds from the copper pennies plus the extra zinc pennies from that second round of previously unsearched pennies and pay off the credit card. That process will give you an extra $50 to search more pennies with for every $200 you borrow from your credit card.
Bad idea. Very bad idea. You absolutely don't want to take on debt to "help" you sort pennies. The whole idea behind sorting and hoarding is to have something to fall back on and to be free and clear financially. |
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oktyabyr
Penny Sorter Member
USA
91 Posts |
Posted - 05/01/2010 : 21:26:20
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| I agree. The worst thing to do would be to take on debt, then have something happen and be unable to pay for it. Would end up losing money on your easy money maker. |
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rodebaugh
Penny Collector Member
USA
377 Posts |
Posted - 05/01/2010 : 21:36:38
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quote:
Originally posted by Sykesvillecoin
Sell them and keep sorting. btw, if money's an issue and you have a credit card you can use, borrow money from that to sort pennies, sell the copper ones on ebay, take the zincs to another bank and write a check for the amount of money your deposit at that other bank was based on the amount of the zinc pennies, than get more unsearched pennies at the bank you normally get your pennies from, than sell the copper pennies from that round of seraching on ebay, than use the proceeds from the copper pennies plus the extra zinc pennies from that second round of previously unsearched pennies and pay off the credit card. That process will give you an extra $50 to search more pennies with for every $200 you borrow from your credit card.
Hmmmmm.......It would work. One must have discipline!
I have pulled a similar larger deal at auction before. Purchased 11K worth of scrap silver for a hair under 8K on credit (that card max is only 10k!), turned it within 2 weeks, paid the bill before interest could accrue, then pocketed the profits. I was in College then and the extra money sure did help. It was a blast hammering up all the candelabras, candlesticks, bowls, cutlery, and various dented junk sterling to make it fit better into the flatrate boxes.
Remember though …..discipline!
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http://rodebaugh.ecrater.com/ |
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Nickelless
Administrator
USA
5580 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 05/01/2010 : 22:39:25
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quote:
Originally posted by Nickelless
quote:
Originally posted by Sykesvillecoin
Sell them and keep sorting. btw, if money's an issue and you have a credit card you can use, borrow money from that to sort pennies, sell the copper ones on ebay, take the zincs to another bank and write a check for the amount of money your deposit at that other bank was based on the amount of the zinc pennies, than get more unsearched pennies at the bank you normally get your pennies from, than sell the copper pennies from that round of seraching on ebay, than use the proceeds from the copper pennies plus the extra zinc pennies from that second round of previously unsearched pennies and pay off the credit card. That process will give you an extra $50 to search more pennies with for every $200 you borrow from your credit card.
Bad idea. Very bad idea. You absolutely don't want to take on debt to "help" you sort pennies. The whole idea behind sorting and hoarding is to have something to fall back on and to be free and clear financially.
If they didn't sell, wouldn't you have they pennies on hand to pay the credit card bill?
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Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
+637 posts |
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Nickelless
Administrator
USA
5580 Posts |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/01/2010 : 22:49:14
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quote:
Originally posted by jtm3
quote:
Originally posted by Nickelless
quote:
Originally posted by Sykesvillecoin
Sell them and keep sorting. btw, if money's an issue and you have a credit card you can use, borrow money from that to sort pennies, sell the copper ones on ebay, take the zincs to another bank and write a check for the amount of money your deposit at that other bank was based on the amount of the zinc pennies, than get more unsearched pennies at the bank you normally get your pennies from, than sell the copper pennies from that round of seraching on ebay, than use the proceeds from the copper pennies plus the extra zinc pennies from that second round of previously unsearched pennies and pay off the credit card. That process will give you an extra $50 to search more pennies with for every $200 you borrow from your credit card.
Bad idea. Very bad idea. You absolutely don't want to take on debt to "help" you sort pennies. The whole idea behind sorting and hoarding is to have something to fall back on and to be free and clear financially.
If they didn't sell, wouldn't you have they pennies on hand to pay the credit card bill?
Don't forget credit card finance charges, Kemosabe. There are no finance charges in cash or copper. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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---------------
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Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Sykesvillecoin
New Member
9 Posts |
Posted - 05/02/2010 : 00:02:36
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quote:
Originally posted by rodebaugh
quote:
Originally posted by Sykesvillecoin
Sell them and keep sorting. btw, if money's an issue and you have a credit card you can use, borrow money from that to sort pennies, sell the copper ones on ebay, take the zincs to another bank and write a check for the amount of money your deposit at that other bank was based on the amount of the zinc pennies, than get more unsearched pennies at the bank you normally get your pennies from, than sell the copper pennies from that round of seraching on ebay, than use the proceeds from the copper pennies plus the extra zinc pennies from that second round of previously unsearched pennies and pay off the credit card. That process will give you an extra $50 to search more pennies with for every $200 you borrow from your credit card.
Hmmmmm.......It would work. One must have discipline!
I have pulled a similar larger deal at auction before. Purchased 11K worth of scrap silver for a hair under 8K on credit (that card max is only 10k!), turned it within 2 weeks, paid the bill before interest could accrue, then pocketed the profits. I was in College then and the extra money sure did help. It was a blast hammering up all the candelabras, candlesticks, bowls, cutlery, and various dented junk sterling to make it fit better into the flatrate boxes.
Remember though …..discipline!
yeah, discipline is the key to following through with any plan, and most of the risk in any plan to make money comes from a lack of discipline or education. If you lack discipline, not even the best plan to make money fast will go well, but if it's education you lack, than any investment will be like rolling dice, it takes both education (i.e. knowing assets from liabilities, having a good idea as to what your return on investment will be, ect) and the discipline to follow through.
Before using a credit card to carry out a plan like the one I described, it would be best to three lots of copper pennies (30 rolls each is the lot size I recommend), than figure out your return on investment on those three lots and the average return of those three lots will be the return to use in your calculation to figure out how many lots of copper pennies you'll need to sell in order to profit from using the debt to fund the penny sorting.
Also, profit from the copper pennies plus the face value of the remaining zincs in my calculation came to $260, so I factored in the $10 finance charge when I came to my $50 profit from using funding from the card.
If anyone decides to follow a plan similar to the one I laid out, they should check the terms of their card to find out how much their finance charge is for getting cash from their credit card.
My card has a flat $10 fee for cash transactions regardless the amount, so if I pay off the entire balance of my card within a month of such a transaction, the $10 fee will be the only fee that will be charged. As a result, my profit will only go down by $10 as compared to actually having $200 in cash, but in the case of not having $200 in cash, that $50 in profit I would be getting from such a transaction is profit I otherwise wouldn't have if I would have decided not to get the money from the card, but of course, it takes discipline to carry out such a plan successfully, so if you don't have much discipline, I wouldn't recommend doing this. |
want more copper pennies? I am selling them for $1.25 per roll plus $2 shipping for the first roll and 50 cents shipping for each roll thereafter |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/02/2010 : 00:14:37
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quote:
Originally posted by Nickelless
quote:
Originally posted by beauanderos
I keep hearing rumors (threats) that Obama and TPTB could come after our gold and/or silver with confiscation. I seriously doubt they would go after pennies and nickels too... so I might convert some of the precious for more base down the road 
Don't waste your time:
You must be logged in to see this link.
Besides that, let's say you had, oh, $100,000 worth of gold. It's a lot easier to hide 100 oz. of gold than the equivalent FRN amount in copper--about 30,000 lbs. And if you can't figure out how to creatively hide 100 oz. of gold, you really, really aren't trying hard enough.
Just send it to me - my place is Obama proof :) |
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Passive Income blog |
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johnsonjohn2441
Penny Pincher Member
USA
102 Posts |
Posted - 05/02/2010 : 17:33:09
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| is there really an end in sight for anyone who has already began? seems to me like i could go forever |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 05/02/2010 : 18:49:47
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| I am getting to the point where I probably won't add much more to the copper pile unless I sell some. But I am not going to sell at current prices so I guess I will just sit on what I have for a few years. I am now stepping up my silver searching. I just found another bank that I have a standing order with each week. |
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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Kiwiman
Penny Pincher Member
225 Posts |
Posted - 05/26/2010 : 17:17:53
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Besides that, let's say you had, oh, $100,000 worth of gold. It's a lot easier to hide 100 oz. of gold than the equivalent FRN amount in copper--about 30,000 lbs. And if you can't figure out how to creatively hide 100 oz. of gold, you really, really aren't trying hard enough.
[/quote]
I could think of a lot of ways to hide it, it would be fun! |
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 05/26/2010 : 17:26:24
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| For me, copper was like a "gateway drug". Copper leads to nickel, nickel leads to silver, and silver ultimately leads to GOLD. My Ryedale is currently gathering dust, but it taught me an extremely valuable lesson. |
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Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 05/27/2010 : 05:48:57
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quote:
Originally posted by Nickelmeister
For me, copper was like a "gateway drug". Copper leads to nickel, nickel leads to silver, and silver ultimately leads to GOLD. My Ryedale is currently gathering dust, but it taught me an extremely valuable lesson.
I keep searching CWR's for gold, but except for a few... nothing but skunks. It's very frustrating  |
Hoard now and hold on!
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http://wherewillyoubein2012.blogspot.com/ |
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AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 05/27/2010 : 09:02:40
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quote:
Just send it to me - my place is Obama proof :)
Mine is too, he just dont know it yet. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 05/27/2010 : 09:18:08
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I don't think there is a limit. I have sold and traded copper pennies. If I can find a way to make a profit or trade up, I do it.
I look at it this way. Copper, Nickel, Silver and Gold is a 4 lane highway during rush hour. I just keep switching lanes depending on which one is moving forward. The trick is not to get stuck in the lane that is not moving. |
You don't have to be the BEST you just have to be.......SLICK
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twentybux
Penny Pincher Member
174 Posts |
Posted - 05/27/2010 : 10:41:24
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| Good analogy Slick! |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/27/2010 : 12:13:40
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quote:
Originally posted by slickeast
I don't think there is a limit. I have sold and traded copper pennies. If I can find a way to make a profit or trade up, I do it.
I look at it this way. Copper, Nickel, Silver and Gold is a 4 lane highway during rush hour. I just keep switching lanes depending on which one is moving forward. The trick is not to get stuck in the lane that is not moving.
And it really creates a mess when one of the lanes starts going in reverse! |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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poordriver
New Member
22 Posts |
Posted - 05/27/2010 : 23:51:10
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Sell pennies where?
i hit my limit in march |
Edited by - poordriver on 05/27/2010 23:53:52 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/28/2010 : 00:41:32
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| I feel like I am in creep and beep traffic.. but still moving forward.. slowly. Haven't reached my limit yet. I have occasionally sold a few coppers off for diversification.. but not actively marketing at current price levels. |
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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DoctorMetal
Penny Sorter Member
40 Posts |
Posted - 05/29/2010 : 16:17:43
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| I think my limit will be a ton. Small ton, I guess. Dunno how many boxes that will be, but by plan is to accumulate enough to easily cart back and forth on a dolly. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 06/01/2010 : 23:59:30
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| That has got to be some dolly if it will easily cart a ton back and forth. My dolly only has a 660 lb capacity. Heck, my wagon only has a half ton capacity. I need one of those dollies! |
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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Finding Your Limit
Forum Locked
