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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 06/13/2010 : 16:31:47
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Coinflation says a 95% copper penny is worth 1.925c. However, as markets go, the real value of a commodity like copper pennies is what SELLERs can get by selling, and what BUYERs pay to sellers. You might say that those of us on RealCent are the market makers at this time in the copper penny commodity.
From what I can gather from past auctions here on RealCent, there are many who wish to sell their coppers for 1.4c - 1.9c. However, based on recent auctions, BUYERs seem to be ready to BUY at only 1.2c-1.3c. Without certain buyers coming in at 1.3c, many lots put up for sale would go unsold even at the 1.3c level. Based on the recent auction action, I think if you want to unload your coppers quickly, they are worth 1.2c, with patience you can get 1.3c. I think it's a tough sell above these levels.
What have other sellers seen? Certainly, on EBAY and other retail markets, coppers could go closer to their melt value. But, here on RealCent, where many of the most knowledgeable copper hoarders and accumulators reside, the true value of coppers seems to be no more than 1.3c - a little more than spot - 30%. 
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– Theodore Roosevelt
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Edited by - Country on 06/13/2010 16:46:19 |
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Kiwiman
Penny Pincher Member
225 Posts |
Posted - 06/13/2010 : 16:43:46
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Agreed no more than 1.3c each right now.
Kiwi |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 06/13/2010 : 16:44:52
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i think you nailed it.
now is the time for accumulating - the time to sell will be later.
dont get me wrong - 30% return is nothing to laugh at. but so much time and energy is used that your actual profit is far less
if one had the capital and space, and was only interested in copper value, it might be better to buy your hoard for around 1.3 then to go the effort of sorting it yourself...
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My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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Corsair
Penny Hoarding Member
811 Posts |
Posted - 06/13/2010 : 17:18:42
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It's unfortunate that now is not the time to sell. I wish I had been in the game back in the summer of 2008, when it wasn't rare for a copper cent to fetch 2X. Obviously that's not the case anymore. We had a member get laughed at for attempting to sell for 2.5X. I laugh at those that think that isn't possible.
It's just a matter of time, folks. I don't believe in the collapsing economy, bartering-for-food mentality. But that's not to say I don't believe that the copper cent is rapidly disappearing from circulation. As time goes on, and the economy recovers, and more pennies are pumped into circulation, and hoarders do what they do best, and random acts of penny violence occur, our precious Cu bullion will finally, and permanently, vanish from every day circulation. |
So long, Realcent 1. Come visit us at Realcent.org! |
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misteroman
Administrator
USA
2565 Posts |
Posted - 06/13/2010 : 19:07:57
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| I'm an active buyer of unlimited amounts at 1.2. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 06/13/2010 : 20:28:00
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I agree that the current price is running about 1.3x shipped.. which comes out to about 1.2x
+ shipping. I have been buying some at those levels. While it may be possible to get a bit more on eBay occasionally.. the eBay/PayPal bite will bring your net down to roughly these levels. I moved quite a bit at 2.25x, but that was a while back. At current price levels I am a buyer rather than a seller. 
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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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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/13/2010 : 20:53:51
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| Realcent members are very knowledgeable about the copper penny market. You can find more impulse buying on eBay. 1.3 X + shipping is a real bargain considering the time and effort that goes into sorting. |
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Think positive. |
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 06/13/2010 : 21:40:06
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| Last November I got 1.73 cents for 1.5 tons. |
Beer is my currency. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 06/13/2010 : 22:36:21
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| That's a great price Tim. Did you have to ship them? |
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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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 06/13/2010 : 23:35:08
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quote:
Originally posted by Corsair
But that's not to say I don't believe that the copper cent is rapidly disappearing from circulation. As time goes on, and the economy recovers, and more pennies are pumped into circulation, and hoarders do what they do best, and random acts of penny violence occur, our precious Cu bullion will finally, and permanently, vanish from every day circulation.
don't know about you guys, but unless the cent is done away with altogether,
There will always be hoards getting returned to circulation: disgruntled girlfriends, desperate hoarders, thieves, grubby handed offspring, etc.
If the penny is still around at all, copper sorting will be like halves sorting now: Hit or Miss. |
"May your percentages ever increase!" |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 06/16/2010 : 12:18:27
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| I think the realized value of the copper penny will be low for a while. The recession is going to last a long time it now appears. Also a bad sign is that the period when copper went up a decent amount recently Mar 09 to Mar 10 the value realized for sellers here did not see much of an increase. I think it will be a long time until we can start selling again. Of course those with established customers like copperbullion can get a premium price. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 06/16/2010 : 15:37:09
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| I think one of the reasons it low right now is the fact many of us get them for face as we are sorting for them. |
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jacer333
Penny Pincher Member
USA
119 Posts |
Posted - 06/16/2010 : 19:45:28
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| I think dakota hit it on the head....everyone that knows the true value and opportunity of the copper cent is able to get an ample supply at face value right now. This probably won't change much until something significant occurs that catches the attention of the general public, such as the cent being done away with. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 06/16/2010 : 21:04:10
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I guess I've pretty much always been a "hoard and hold" person... but then, I am a 'hand sorter' so don't get through too many cents.
But I still think its probably wise right now to 'hold' and 'hoard'
sheba |
woof ... wag ... whine |
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 06/16/2010 : 21:28:26
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quote:
Originally posted by HoardCopperByTheTon
That's a great price Tim. Did you have to ship them?
No- filled the truck up 3X and drove down the road 5 miles.
Should have sold the other 1/2 ton in the barn but held them back. |
Beer is my currency. |
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Topic |
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What's a Lincoln Copper Cent worth?
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