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deleted
3 Posts |
 Posted - 12/28/2007 : 00:11:46
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I just started collecting copper pennies, and i have read a lot of the threads in this Forum, but i keep thinking "Is it all worth it?"
1. if you guys are so interested in copper and other metals, why not invest in large quantities of bullion without wasting all this time sorting? or even stocks such as mining companies?
2. its hard to beleive that much of a profit can come from this. There will be melting fees, and if you find someone to melt your pennies they are not going to give u even close to market value for your dirty pennies.
3. Is your time really worth the small amount of profit you MAY attain? any one of you can probably make the same amount in a few days at your day job than you will get from your copper pennies.
4. You guys could be getting interest on your money, such as 8% in a mutual fund. if you hold your pennies for many years, that 8% interest is going to accumulate and SEVERELY cut into any profits you may get.
This whole penny thing is really interesting, but logically it doesnt seem like the smartest move...unless you truly ENJOY collecting/hoarding.
if you guys have already talked about this stuff in other threads sorry to repeat, and thanks for any input...
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fiatboy
Administrator
912 Posts |
Posted - 12/28/2007 : 01:13:42
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Welcome to the forum, Tus. That's quite a first post! 
You've asked some valid questions, and although I can't speak for everyone here, I'll give you my opinions.
quote:
1. if you guys are so interested in copper and other metals, why not invest in large quantities of bullion without wasting all this time sorting? or even stocks such as mining companies?
Do you really think someone who's sitting on a bunch of gold bars is really going to tell everyone about it? Personally, I'm not wealthy enough to play the precious metals game like some folk, but even if I were, I wouldn't tell anyone about it. And is sorting pennies a waste of time? To some people, yes. To others, no. I confess that I often have tunnel vision and am always thinking of ways to turn one dollar into two. Sorting pennies is speculative, but it doesn't feel like work. In other words, it satisfies both my desire to make a buck and my desire to have fun. I came into this hobby through numismatics, so it feels very natural. I will tell you that I don't like stocks. I don't trust paper or promises or anything that I can't hold in my hand and play with. I acknowledge that there is money to be made in stocks, but I'd lose too much sleep if I played that game.
quote:
2. its hard to beleive that much of a profit can come from this. There will be melting fees, and if you find someone to melt your pennies they are not going to give u even close to market value for your dirty pennies.
Only time will tell. We're either visionaries or we're nuts. No worries, cause I'm having fun doing it, and the risk is extremely low. Worst case scenario: I exchange my pennies at face value. I have not lost any money. Have I lost time? To a point, but largely, no. It's still a thrill finding wheat pennies, foreign coins, and also, I have the personality type that enjoys categorizing and sorting. Additionally, I like being ahead of my time, so to speak. Back in the sixties, the people that pulled all the silver from circulation made a pretty penny and had fun doing it, while most everyone else was oblivious to silver. And as regards melting fees, I don't necessarily plan to sell to a refiner. First of all, there's the melt ban. That takes care of that question. But what if the melt ban were lifted? Yes, refiners wouldn't pay full price, but they never pay full price for anything. Nevertheless, they'd pay enough to make a profit. Before the melt ban, a few refiners were actually melting pennies! There was and, I believe, will still be profits in copper pennies. It's very speculative at this point. A more likely scenario, at least for me, would be to sell to other penny hoarders/collectors. Melting my pennies is not something I'd like to do, if I could help it! I like them just the way they are.
quote:
3. Is your time really worth the small amount of profit you MAY attain? any one of you can probably make the same amount in a few days at your day job than you will get from your copper pennies.
So far, I've made very very little money from my copper pennies. But that's ok. I'm not trying to make a quick buck. It's a very long-term investment. I consider sorting pennies a break from my day job. It's relaxing. I like reading, going for walks, spending time with my friends, and sorting pennies. haha. It's down time, to me. Profits? That's just icing on the cake!
quote:
4. You guys could be getting interest on your money, such as 8% in a mutual fund. if you hold your pennies for many years, that 8% interest is going to accumulate and SEVERELY cut into any profits you may get.
Again, only time will tell. In the very-long term, I'd rather have hard assets and tangible goods than anything paper or digital. Also, this question assumes things which I don't, so it's very difficult for me to answer. I like to take the long view of things. And in that respect, the bottom line is that I don't trust banks, paper money, digital money, fiat money, fine print, the CPI, the FDIC, stocks, or anything that engenders debt or is debt-facilitated. I'm not saying that there aren't better ways to make money or better ways to invest. I'm not saying that everyone else should believe what I believe. I know what works for me, is a good way of looking at it.
I'm curious to see how other members of this forum respond to your questions. I think it's very important that we, as penny hoarders, ask ourselves these questions.
Is it all worth it? To me, yes. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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fiatboy
Administrator
912 Posts |
Posted - 12/28/2007 : 01:23:49
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It's also a matter of degree. Many people hoard copper pennies, but passively. My girlfriend doesn't have a Ryedale, but she does set aside copper pennies that she finds in circulation.
To have a fundamental understanding of why people hoard copper pennies, read up on Gresham's Law, its implications, its history, and how it relates to monetary theory. In a nutshell it states, "bad money drives good money out of circulation." |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Miser-stro
Penny Sorter Member
74 Posts |
Posted - 12/28/2007 : 01:31:49
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Welcome to the hoard Tus. I'm relatively new myself. And in the end, I think you said it. At least from my observances, I'm quite confident that most of us are here mainly because we ENJOY hoarding copper pennies and other coinage. True, there are many other investments that yield a higher return.
At least, its a hobby that has SOME monetary return. Most hobbies as fun and as wonderful as they may be, end up only costing money. Such as radio controlled airplanes for instance. I fooled with them for years...until I ran out of money. The return is only the enjoyment of the hobby itself. Which I might add, is often worth every penny and then some.
With pennies, it becomes addictive... What will you find in each box?? How many coppers this time?? How many wheats?? Perhaps something obscure? And always the hope of just MAYBE someday finding a 1909-S VDB still in circulation, that in decent condition is worth close to a thousand bucks. Even if its only for the copper alone, the current market value is 200%.
As with many hobbies, it seems that they often draw together like minded people. And it appears that within the Copper Hoarding circles, there are a lot of very intelligent and eccentric individuals. Some Tradesmen, some Technicians, or any number of people involved in some specialized field, maybe even some laborers. Whatever the status, its definitely comprised of a group of people who "think outside the box". And I'm sure most if not all have some other financial interest, as opposed to having all their eggs in the copper hoarding basket. Ultimately, if we didn't enjoy it to start with I'm sure none of us would be here. Please correct me if I'm wrong. Happy hoarding!!
Miser-stro
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 12/28/2007 : 06:08:28
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Welcome to Realcent Tus. One thing you will find we don't consider new members who ask tough, but honest questions about our hoarding as "Trolls".
You have already got some excellent replies to your post, but I would like to add that copper bullion in smaller lots is difficult to find at anything even close to the spot price of copper. We have members here who are looking to buy copper bullion at a reasonable price and are not having much luck. This forum will continue to help them try though.
When we buy our pennies we are buying them at face value. So for every 95% copper penny we buy we are getting about two cents of metal. I did the same when silver coins were still in circulation and I'm happy I did.
Years ago I was a National Association of Securities Dealers Registered Representative so I understand stocks, bonds and mutal funds. Such investments can serve one well. On the other hand I have seen many investors take a beating on such investments. *The purpose of this forum is not to give investment advice, but it is nice to know during these times that you have cash money on hand that has a metal value worth more than its face value. And such a hoard can be a part of ones investment portfolio. No one is encouraged here to put all of their money into hoarding pennies.
Like Miser-stro said, we enjoy this hobby of ours. I have a friend who enjoys muscle cars. He may make a profit off of them but that is not the only reason he is into them.
Why not consider joining us and sort as much as you feel you enjoy doing
*- note my signature.
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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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/28/2007 : 07:03:25
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It is a no lose situation. Definitely not a short-term get rich scheme. An initial investment in pennies goes a long way with the zinc returns/penny buy back way of life we all live. Best part is you can NEVER lose money on pennies. The Cu's are always worth at least $0.01. I have never sold a single penny. Don't plan to any time soon. I too like to be able to physically hold my wealth, be it my metals or even cash. I plain enjoy the hunt as Miser-stro mentioned. Never know what you might find. Keep sorting, you will find something nice, then you will be hooked for sure.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/28/2007 : 08:30:50
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| There has been lots of good stuff already posted and my opinion would mostly just repeat what has already been written. But I do want to point out that a businessman made a multi-million dollar business out of sorting pennies. Of course, he was thwarted by a change in the laws, but it still go to show the potential of this hobby. |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 12/28/2007 : 09:35:25
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Is it worth it?
My father rolls his eyes when I tell him I'm doing this.
Intrinsically, yes it is. In my hand I have a roll of 50 copper pennies. The copper they're made of is worth $1. I've doubled my money simply by sorting them out of a pile of mixed cents.
Of course, to make real money, you have to process a fair amount, and it isn't legal to export or melt right now. And no, a metals dealer won't give you the market price for virgin copper, but when the day comes he will give a high price for known quality scrap.
Right now #1 copper scrap is around $2.51/lb #2 copper scrap is around $2.22. There are 145 copper pennies per lb. I think it's worth it.
The short answer? It's worth it if you enjoy it. For me, it's a wintertime activity in the frozen north, and I get to search for old pennies to boot.
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Trust the government? Ask an Indian. |
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Hirbonzig
Penny Collector Member
USA
451 Posts |
Posted - 12/28/2007 : 11:33:26
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Welcome to the forum Tus!
I have been sorting cents for about 6 months and I do find it worth my time. It is a relaxing past time and does not cost an arm and a leg. The only "cost" is the amount of copper cents,nickels or silver coin that I pull out of circulation.
My daughter often helps me do my sorting and I love the time we spend together doing this hobby. I do enjoy this hobby and encourage people that I talk to do the same.
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3 Posts |
Posted - 12/28/2007 : 17:47:06
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Thanks a lot guys for all your responses, you all seem like really nice and knowledgable people. Even though i am still skeptical of whether or not it is truly worth it, i have penny fever from all this craze so im gonna go to the bank and get a box...
ps my dad, sister, and one of my friends have already seen me sorting pennies, and when i told them why, they looked at me like i am an absolute psycho, haha i guess its nice to know that there are a few people out there that actually think this is pretty cool... : ) |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 12/28/2007 : 17:54:22
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Hi Tus!
I'm probably one of the biggest hoarders out here...so, yes I have thought a lot about this...and I'm very positive it is well "worth it". Here are a few of my thoughts:
1) My opportunity cost is only my efforts, and some minor related costs of driving around. There is a very high probability of "doubling up"....getting 2X face value...probably not too far down the road....perhaps inside of 5 years. I also have the lost opportunity of interest on the hoard....but I'm betting the metal appreciation will outpace inflation.
2) The up-side potential may be more like 5X of 10X given our currency inflation and world demand for base metals like copper. Because of the intrinsic metal content ...I'm inflation protected...yes, the face value will buy less...but the intrinsic metal will become worth more. Federal Reserve Notes do not offer this protection....gold and silver and other intrinsic items will also....but these copper pennies are available at "half price". Do you think it will be more expensive to mine and process and transport metals in the future? Do you think that it will be more difficult to find and extract these metals from the earth in the future?
3) Deflation hedge...I do not see this happening with currencies....but it is a hedge...I hold the cash and can spend it.
4) Protection against bank-runs / lack of currency.
5) Relatively compact: 1 Ton of copper pennies will fit in a 55 gal drum. Costs $3000 to fill that drum...current metal value $6500....and I say heading for $8k...$10k...$15k?!?!?
I plan on paying off my 4.75% fixed rate $150k mortgage with inflated FRNs that I'll get when I scrap my copper pennies for 5 to 10 cents each. Somewhere between 5 and 10 drums of copper will do the job when copper hits $10 per pound....and those days are coming...we currently have a 20%/yr Money Supply growth...and a 2% GDP growth to back it up....we will have official 15%-20% inflation in a few years....right now it is reported at 2-3%...when in fact it is nearer 10%...
Ask yourself this: How did gold go from $300 to $800 in just the past few years....check out anything you like and then think about the Government reported inflation of 3%...oil, natural gas, wheat, corn, gold, silver, copper, lead, ....everything has about doubled of better in the past few years...
6) Hoarding is fun.
I'm amazed every time I go into a bank and give them a worthless piece of crap hunk of paper with some ugly ink on it that says "$100" and they give me bags of metal that are difficult to carry out to the car....that I will be able to concentrate/filp into 67 pounds of copper worth $200...and some day worth $1000.
I could be wrong....but I think I'm right ...and i think it is worth it. It is a lot of work to pack away 3 to 4 tons of copper a year...but I'm betting on it big time.....I even reduced my 401k contribution to increase my hoard funding!
Better get onboard early and hoard heavy if you want to prosper on pay day.
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Edited by - c140cessna on 12/28/2007 18:07:34 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/28/2007 : 20:39:49
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Hi Tus,
Welcome to the forum. You ask some great questions and there are some great responses from the members here. I agree with a lot of what has been said here. The question you asked was "is it all worth it?" That is something that each individual has to answer for him or herself. You said you just got started collecting copper pennies. Can I ask what got you started? How did you get the bug? I come to this originally from numismatics. I started when I was 6 years old when my dad bought me one of those Whitman thumbuster books and we went through his alhambra bottle to find pennies to plug into it. As a child I used to get bags of pennies from the bank and go through them looking for wheat cents. I actually find more wheat cents now than I did then because of the volume of pennies I am able to process with my machines.
I am probably one of the biggest hoarders out here.. right up there with c140cessna, but I sell off a lot more of mine than he does so he has built up a bigger pile than me. I believe in copper for the long term, but I diversify my holdings, converting some into gold and silver as well. I already have gold, silver, platinum and several collector coins from early US to early Greek and Roman dating back to 510 BC. Those store much easier in a safety deposit box. Heck, I even have a muscle car.. a 1969 Dodge Charger R/T SE with a 440 Magnum.
You stated that we could get 8% interest in a mutual fund. Assuming we could get an 8% return with no risk to capital, how long would it take to double our money? I can buy a copper penny for 1 cent and double my money overnight. Now if you were to annualize that return it would be 36,500% As El Dee stated, to make real money you have to process a fair amount. I do process a fair amount. Of course I couldn't do nearly the volume I do without machine assistance.
There are several things that attract me to this hobby. I like the fact that the pennies are something I can play with. Most of the other stuff is locked up in the safety deposit box and I rarely see it. There are no barriers to entry. A guy can participate at whatever level he feels comfortable, be that a few pennies or thousands of dollars. You don't need expensive equipment to do it.. that is just to increase efficiency if you want to play at the higher levels. I like the thrill of discovery.. a bunch of wheat cents, the occasional Indian Head cent, or the foreign coins that Cerulean identifies for us. I love watching all the coppers pour out of my Ryedale. I like the thrill of the hunt.. trying to track down new sources of pennies. You can do it as little or as much as you want whenever you feel like it. Best of all I enjoy the social aspect of it. Sharing ideas and stories with all the great members here who are similarly afflicted. I get a vicarious thrill when I read about another member making a good find or getting a good copper percentage.
For me, it is Definately worth it! |
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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Ryedale
Administrator
USA
523 Posts |
Posted - 12/28/2007 : 20:57:48
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I just started collecting copper pennies, and i have read a lot of the threads in this Forum, but i keep thinking "Is it all worth it?"
Yes.
Welcome to the forum.
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Ryedale
GET YOUR DRI-SLIDE FROM IRONBRAID
http://www.ironbraid.com/driside.html
Used with permission from Ironbraid.
Quote
"The real art of conversation is not only to say the right thing at the right place, but to leave unsaid the wrong thing at the most tempting moment."
— Dorothy Neville-Rolfe |
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fiatboy
Administrator
912 Posts |
Posted - 12/28/2007 : 21:48:37
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hahahaha....Well put, Ryedale. 
And Tus, don't forget to let us know what you find! |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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n/a
deleted
3 Posts |
Posted - 12/28/2007 : 21:51:13
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| this is in response to HCBTT about how i got started. before 2 weeks ago i knew absolutely nothing about numismatics. i have always been interested in metal investing, but i dont have the wealth to play with gold and platinum yet. Through Google i was able to find that coinflation site kind of randomly, and i was happy to see that i could easily invest in a hot metal such as copper. im mainly doing this for the metal play, but now i am also getting more interested in the numismatic part. i just went through $20 in pennies, and i only got ONE wheat, lol kind of lame. i guess that just meens i gotta search more pennies. I'll deffinitely never get to the point that i buy a ryedale machine, but i enjoy this whole penny hoarding craze so i will be around this site for a while. im really excited to see what happens to the content of the penny and nickel, and im even more excited to see a market develop for our copper pennies! :) |
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Ryedale
Administrator
USA
523 Posts |
Posted - 12/28/2007 : 22:02:51
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Tus,
Seriously though welcome to the forum, im just being a clown tonight.
One thing I like most about doing this, is that is "relatively" inexpensive, and it serves the function of a "fix" while waiting for other investments to go up.
I love gold and silver as investments too, but frankly once you secure it, it's somewhat boring. The penny play is very interactive and has that potential to really find something scarce or even rare. Each roll is 50 chances to find a neat old coin. I run out of money way to quickly if I'm hoarding silver coins.
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Ryedale
GET YOUR DRI-SLIDE FROM IRONBRAID
http://www.ironbraid.com/driside.html
Used with permission from Ironbraid.
Quote
"The real art of conversation is not only to say the right thing at the right place, but to leave unsaid the wrong thing at the most tempting moment."
— Dorothy Neville-Rolfe |
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deleted
34 Posts |
Posted - 12/28/2007 : 22:13:34
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Tus,
I been hoarding up copper cents in last year and up to have
125 dollars worth of 59 thru 81 copper pennys so far. Reason so low is I do onley 25 to 50 bucks per week if I have time. I dont have machice yet . I hand roll it all.
Becides that I building 1941 thru 2007 folders full of cents. I am building 13 sets so far from those bank coins becides just saving 59 thru 81 cents. I am almost done and need 1982 small dates and 1968 s to finish my sets. Since I am set builder and since I go thru bank boxs of coins to build sets. I save all copper cents and just roll them up and put them in 25 dollar boxs of 59 thru 81 copper bricks of 25 dollar face that can be sold later for 2 cents each . I dont see point on selling back to bank those 59 thru 81 cents since they worth 2 cents each.
I can make money on hoarding copper and selling au/bu rolls of 83 thru 2007 zinc cents, selling completed sets , finding wheat pennys from bank boxs. Best wheats I found this was year, 1921s, 1920s, 1919d, 1890, 1907 indian pennys.
Becides that I search Half dollar boxs for silver coins , nickel boxs for pre 64 stuff. I even built sets out the stuff I search. Quarter and dime boxs for cool coins I can build sets out them.
I think its worth it to hoard copper or silver coins for metal content . Reason the dollar falling and becoming worthless. Your talking about Mutual funds and stuff. If I was you I would sell them all or cash them in . If thats your thing. I would reinvest your money the in The Britain pounds or Euro paper money or Canada money since those Federal reserve bank notes are becoming worthless. The us goverment could become bankrupt or fall down. Its looks Bad everday
Thats what I doing is trying to get rid all my usa bank notes or worthless clad coins and turn into silver , gold, copper cents. I want sell all my usa mutual funds or money in saving account and buy euro dollars or Britain pounds to get rid the worthless usa dollars. So if the usa goes into an depression or falls I will be save .
You can buy mutual funds in places overseas no problem . The cool thing on that you dont need the pay the us goverment taxs on it since it not usa money your dealing with .
One last thing dont put all money into one thing. Spread it out. Have some copper , silver, gold, overseas mutual funds. But keep few usa dollars around to live on in the usa.
Once I buy an rydale machice I will try to put away 3000 dollars worth of 59 thru 81 copper cents this year.
Chevrolet454ss
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I love those fed boxes and hoard up pre 64 silver coins such as rolls of 64 half dollers. Maybe copper will be very expensive such as silver is. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/29/2007 : 01:07:48
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quote:
Originally posted by Ryedale
Yes.
Oh c'mon Andy, you know you're biased. You make those wonderful machines that allow all us serious hoarders to process mass quantities of pennies.  |
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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Ryedale
Administrator
USA
523 Posts |
Posted - 12/29/2007 : 01:35:53
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quote:
Originally posted by HoardCopperByTheTon
quote:
Originally posted by Ryedale
Yes.
Oh c'mon Andy, you know you're biased. You make those wonderful machines that allow all us serious hoarders to process mass quantities of pennies.
Yeah perhaps I'm a bit biased, thats why I try, for the most part, to lay low on the forum.
BTW, I finished hand sorting (thats like a cuss word for me)$1000 in dimes today, (had some spare time today, waiting for that big 2 machine order to come in from California)ended up getting 4 silvers. I am going to be making a "retrofit" kit for making silver dime concentrate for us big guns. I'm waiting on parts for the prototyping, should be in in a couple weeks. I'll make a more official anouncement when/if I'm closer. The penny chute will work good for dimes, just have to switch the feed disc, and the insert plate. I'm excited about the possibilities. Think of $1000 in dimes as 4 boxes of pennies time wise, about 35 minutes. Low profit margin, but if one already has a machine, and is going to the bank, what the heck, the Ryedale Silver Prospector is coming.
Plus once the dime upgrade is complete, someday when the clads are worth over face (can this really happen) the machine is already developed. Incidently it is also serving to concentrate the Canadian dimes, which are about half a percent concentration. Most are still the .999 nickel, which were made till 1999 I think.
oops I think I hijacked Tus's thread. |
Ryedale
GET YOUR DRI-SLIDE FROM IRONBRAID
http://www.ironbraid.com/driside.html
Used with permission from Ironbraid.
Quote
"The real art of conversation is not only to say the right thing at the right place, but to leave unsaid the wrong thing at the most tempting moment."
— Dorothy Neville-Rolfe |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/29/2007 : 06:57:37
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Dimes....awesome....What's next?
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/29/2007 : 09:03:38
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"I am going to be making a "retrofit" kit for making silver dime concentrate for us big guns."
Here is a crazy thought that just popped into my head when you started talking about putting dimes through your machine. I've noticed from both building my own coin sorter and from using yours that the "1 coin" coin discriminators are just not made for small coins. They are made for arcade machines and other gaming machines and are best suited for quarter sized and up coins.
Because of this when you put a small target coin in the coin holder there is a little play in how it can be positioned. This play can make a big difference in reject/accept rates. The best results for me have been getting the target penny as close to the sensor as possible.
Also in the discriminators, the target coin sets the size. So with a penny in there a slightly larger foreign coin or a slightly squished penny can cause a jamb.
To compensate for the above, I could imagine a slightly larger than a penny plastic disc with a hole in it that could hold a penny or a dime. Then you place the disc in the target slot (no more play, coin held against the sensor, and no more jambs by slightly too big coins).
Just a thought....the Apprentice is working great for me which means I should probably leave it alone. But I might give the plastic disc idea a try if I can find the right piece of plastic around the house. |
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deleted
27 Posts |
Posted - 12/29/2007 : 09:09:09
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Tus,
I started collecting pennies in the 60's & 70's as a kid. I did both numismatic & hord. It was fun & cheap. Had to cash them all in during a "poor" spell in the 90's. So it was a backup savings that put food on the table when it was needed. I go to several banks each week as part of my regular work job , so no cost involved to pick up pennies while i'm there. I enjoy hording (Type H personality), so its fun to me. I unroll while reading and sort on my Rydale when i have some time. Just sort what you want when you want. Where else can you double your money so easily ! |
Scrooge's signature dive into money. |
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deleted
34 Posts |
Posted - 12/29/2007 : 19:15:34
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Rydale,
Can you make an machice or retrofit your penny shorter for Half dollars or Quarters. To tell you truth since I been roll searching this year. I find more and more silver in those half dollar boxs compared to dimes or quarters or whatever.
My last box of halfs got me 21 silver coins out 1400 dollar shorted. Most guys becides me find tons silver in those half dollar boxs. I was thinking I may stop doing pennys and onley do half dollar boxs like 5000 per week or 10 boxs per week intill I get sick those halfs. I can do pennys later. You get the idea silver worth more than those copper cents.
If you could build an machice that will do all coins like pennys, dimes, quarters, halfs to remove copper or silver out them. I would not waste your time on baby dollars or ike dollars. Reason I can never find them around the banks anymore. Baby dollars there is no need since they are all clad junk from 1979 and up stuff. Ike or big dollars I cant find anywhere since they are all gone.
Have fun Chervolet454ss |
I love those fed boxes and hoard up pre 64 silver coins such as rolls of 64 half dollers. Maybe copper will be very expensive such as silver is. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/29/2007 : 20:03:28
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quote:
Originally posted by chevrolet454ss
Rydale,
Can you make an machice or retrofit your penny shorter for Half dollars or Quarters. To tell you truth since I been roll searching this year. I find more and more silver in those half dollar boxs compared to dimes or quarters or whatever.
My last box of halfs got me 21 silver coins out 1400 dollar shorted. Most guys becides me find tons silver in those half dollar boxs. I was thinking I may stop doing pennys and onley do half dollar boxs like 5000 per week or 10 boxs per week intill I get sick those halfs. I can do pennys later. You get the idea silver worth more than those copper cents.
Have fun Chervolet454ss
Getting $5000 a week in different halves for any amount of time will be very hard. Chances of getting the same ones again would seem pretty high. Guess you could ship them to someone and have them dump them for you out of state....I'll do it for you....only a 3% fee....hehe
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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Ryedale
Administrator
USA
523 Posts |
Posted - 12/29/2007 : 21:31:50
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Rydale,
Can you make an machice or retrofit your penny shorter for Half dollars or Quarters........
Have fun Chervolet454ss
454ss
The Ryedale Area 51 Skunkworks has been busy lately with many requests to make silver sorters. I have prototype components ordered but with the holidays everything is backed up from suppliers. We have done some preliminary testing with Dimes, Quarters and even Halves. No promises for delivery dates or anything yet. The huge limiting factor for doing quarters and halves, is the size, and would require more injection mold tools, or at a minimum each one would require a hand made in-feed arrangement, which is extremely time consuming, and therefore cost prohibitive. I'm mulling it over, and as soon as I have the parts I've ordered I will begin feasability.
The Dime unit is the fastest to market, as it shares the penny chute, but the quarter and half would need a new chute, and frankly halves are pretty easy to hand sort. In the quantities that common Coin Roll Hunters work in, I cannot see myself justifying the half setup on anymore than some custom machines. But I do have a plan for custom units.
Stay tuned. Andy |
Ryedale
GET YOUR DRI-SLIDE FROM IRONBRAID
http://www.ironbraid.com/driside.html
Used with permission from Ironbraid.
Quote
"The real art of conversation is not only to say the right thing at the right place, but to leave unsaid the wrong thing at the most tempting moment."
— Dorothy Neville-Rolfe |
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PennyProspector
Penny Pincher Member
USA
212 Posts |
Posted - 12/30/2007 : 19:54:21
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Welcome to the forum Tus,
I have also been quietly reading the posts for several months and Just recently signed up as a member.
Is it worth it???
What's to risk???
When you purchase gold or silver (No matter how good the price that you purchase it at) It can still drop in value.
If it turns out that I and all of the other visionaries on this forum are wrong... Every one of our pennies are still worth 1 Cent!
Lets face it, any metals purchase is speculation, but at least with this speculation you have no cieling on the growth potential and you are blessed with a FLOOR!!!
Not alot of risk other than time invested and as many others have already stated I enjoy it! If you find that you don't enjoy doing it, then I say you should stop... because then it becomes WORK and you have to justify the time spent.
If you do enjoy it, who care about the weird looks from the tellers, family and friends.... I dont judge them crazy when they spend money buying season tickets for sporting events that they enjoy! (how are they going to get a return on that investment... lol)
Also, as for saying "I'll deffinitely never get to the point that i buy a ryedale machine" LOL...Oh I remember saying that same thing!!!! B4 I saw the light lol, either way with a Ryedale or hand sort its nice to have another person at least look into the hidden value of the penny.
BTW, I like your positive attitude when you say... "i dont have the wealth to play with gold and platinum YET." stay focused and you will get there! the key isn't investing in gold and platinum when they are hot. Its haveing the wisdom to invest in them when no one else believied in them (you could have bought gold for under $275 in 1999).
Welcome again and Happy Prospecting!
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Happy Prospecting! |
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Is It All Worth It??
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