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stateofmind
Penny Pincher Member
143 Posts |
 Posted - 07/01/2010 : 12:40:36
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Is sorting and hoarding copper really worth it?
There are pretty much 3 scenarios here that could happen to the US, and I'm not too sure I'd want to be hoarding copper in any case:
1. We go into a deep deflationary depression-This would be the best case scenario for a copper hoarder. IF, and a big IF, the government keeps pennies legal tender. But, who would really take tons and tons of your copper? Wouldn't sitting on cash be a better option? Also, in a depression commodity prices will go down due to lack of demand. That includes copper.
2. We go into a deep inflationary depression-The economy will fall, resulting in a loss of demand for copper, which decreases the price. And, your cash reserves are going to go down in value, if the government keeps pennies legal tender.
3. The economy grows and recovers-This is the most likely scenario. The money would be better spent in high quality American stocks. Like it or not, if you held onto 90% silver taken from circulation, you would have been better off buying stocks.
Even IF(big IF again) copper pennies can preserve your purchasing power, wouldn't it be better to GROW it?
Thoughts?
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Check out our new site, RealCent.org!
"There are people who are very resourceful, at being remorseful, and who apparently feel that the best way to make friends is to do something terrible and then make amends."
-Ogden Nash |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/01/2010 : 13:09:40
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economy growing is not going to happen.
inflation will be good to copper sorters.
deflation will be bad.
right now we are getting both, but the price of copper cents is still well above FV.
the better argument against sorting is to count the amount of time it takes and the holding period required. you can't really get close to melt value until the melt ban is lifted. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 07/01/2010 : 13:11:02
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There are not only three scenarios, and the 3rd seems the least likely given the level of debts and unfunded liabilities we face.
Another scenario is a mix of price inflation and price deflation - e.g. deflation on the value of things you own (e.g. house, new car, wages, real estate, iPhone), and inflation on things you need (e.g. food, gas, water, heat).
Given how uncertain the future has become due to the potential for unlimited government intervention into the economy, we cannot predict what will happen to the economy. So, the best resort is to store your value in things you absolutely need, and things that people will likely need in the future. Whether copper is needed in the immediate future - who knows - but it does have its uses, whenever the economy eventually rights itself. |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
Edited by - brian0918 on 07/01/2010 13:12:48 |
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Roadrunner
Penny Collector Member
USA
413 Posts |
Posted - 07/01/2010 : 14:22:45
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| I have to disagree stateofmind. I think inflation is the most likely, and very good for us penny "collectors". |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 07/01/2010 : 14:26:14
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quote:
Originally posted by Lemon Thrower
economy growing is not going to happen.
inflation will be good to copper sorters.
deflation will be bad.
right now we are getting both, but the price of copper cents is still well above FV.
the better argument against sorting is to count the amount of time it takes and the holding period required. you can't really get close to melt value until the melt ban is lifted.
And who's to say how close we'd get if the melt ban does get lifted. I'd be very surprised to see the local scrap paying even 90% of melt after the law changes |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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stateofmind
Penny Pincher Member
143 Posts |
Posted - 07/01/2010 : 14:54:18
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Point taken about the 4th scenario. I left that out. Why do you think inflation would be good to penny hoarders, as compared to other, more liquid commodities such as silver and gold? And what makes you think the economy will not grow? I don't "subscribe" to the notion of TSHTF and the world ending, I think that is rather silly.
The fact is, in an inflationary scenario anyone would be better off holding worthwhile stocks and stocking up (no pun intended) in PM's, Guns, Ammo, Food, and land. Besides being a hobby, CU hoarding just isn't worth the hassle for a real, positive, economic benefit.
And JobIII, I think expecting even 60-75% is overly optimistic. |
Check out our new site, RealCent.org!
"There are people who are very resourceful, at being remorseful, and who apparently feel that the best way to make friends is to do something terrible and then make amends."
-Ogden Nash |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/01/2010 : 16:46:59
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quote:
Originally posted by JobIII
quote:
Originally posted by Lemon Thrower
economy growing is not going to happen.
inflation will be good to copper sorters.
deflation will be bad.
right now we are getting both, but the price of copper cents is still well above FV.
the better argument against sorting is to count the amount of time it takes and the holding period required. you can't really get close to melt value until the melt ban is lifted.
And who's to say how close we'd get if the melt ban does get lifted. I'd be very surprised to see the local scrap paying even 90% of melt after the law changes
true. my point is that the value in sorting is capturing the difference between face value plus your time and equipment invested and melt value (as close as you can get), contrasted with the risks of a decline in the price of copper below FV and the holding cost.
some people sort and sell for whatever they can get today. others buy and hold hoping for a higher future price. lots of ways to look at it. i think ultimately we have had a lot of bad economic news and copper has come down only modestly in dollar terms. if it comes down much further i expect it would do so only briefly. so i think there is limited risk if you management your investment of time/equipment/tec./ |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 07/01/2010 : 17:44:19
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quote:
Originally posted by stateofmind
Point taken about the 4th scenario. I left that out. Why do you think inflation would be good to penny hoarders, as compared to other, more liquid commodities such as silver and gold? And what makes you think the economy will not grow? I don't "subscribe" to the notion of TSHTF and the world ending, I think that is rather silly.
The fact is, in an inflationary scenario anyone would be better off holding worthwhile stocks and stocking up (no pun intended) in PM's, Guns, Ammo, Food, and land. Besides being a hobby, CU hoarding just isn't worth the hassle for a real, positive, economic benefit.
And JobIII, I think expecting even 60-75% is overly optimistic.
"And what makes you think the economy will not grow?"
Because, as a rule, economies do not grow when taxes and Government regulation are on the rise. The Great Depression and the stagflation of the 1970s are two great examples. These liberal Keynesian policies tend to be disproportionately hard on small businesses, which are responsible for most of the job creation and much of the innovation in our economy.
I've heard it argued that the economy looks a lot healthier than it actually is right now, because businesses are are posting higher profits this year to avoid the higher taxes that will hit in 2011. Also weathly individuals and business will start selling off various assets (houses, stock etc) in 2010 to avoid the increased capital gains taxes in 2011.
"Why do you think inflation would be good to penny hoarders, as compared to other, more liquid commodities such as silver and gold? And what makes you think the economy will not grow?"
Actually I think that silver and gold would do better in an inflationary environment than copper. However, hoarding copper pennies has some advantages:
1. They can be had for a minimal investment. No one is too poor to fill a coffee cup with copper pennies.
2. There is almost no risk with copper pennies in that they will still be worth their face value.
"I don't "subscribe" to the notion of TSHTF and the world ending, I think that is rather silly."
I don't "think" it will happen either. In fact I give it about a 1 in 20 chance of occuring in the next 5 years. But if we are both wrong and the dollar completely crashes our coins will be used as a medium of exchange. Look at Zimbabwe.
All of your arguments against copper penny "collecting" could have been used against those who collected silver dimes and quarters in the mid-sixties. Bear in mind that between 1966 and 1982 the Dow basically stayed the same while silver and gold exploded. I don't have the actual numbers, but I believe copper also did pretty well in this time period because it was in 1982 when the U.S. mint decided that it was too "expensive" to mint copper pennies anymore.
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Edited by - theo on 07/01/2010 21:43:29 |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 07/01/2010 : 18:16:46
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quote:
Originally posted by JobIII
quote:
Originally posted by Lemon Thrower
economy growing is not going to happen.
inflation will be good to copper sorters.
deflation will be bad.
right now we are getting both, but the price of copper cents is still well above FV.
the better argument against sorting is to count the amount of time it takes and the holding period required. you can't really get close to melt value until the melt ban is lifted.
And who's to say how close we'd get if the melt ban does get lifted. I'd be very surprised to see the local scrap paying even 90% of melt after the law changes
90 percent of melt is still about 180 percent of face value. Copper pennies are a win-win situation for either inflation or deflation. Don't forget that inflation will destroy the value of paper fiat but not the value of copper. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
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Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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StuffGiant
New Member
USA
12 Posts |
Posted - 07/01/2010 : 18:47:34
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I believe the opening question was... Is it worth it?
Different people value different things. "Different strokes for different folks"
Saving/Sorting pennies is a fun long term hobby/investment.
It is a hobby you can do in your spare time, any time of the day.
It is a hobby you can participate at any level you want. (Big or small)
It is a low cost/risk way to hedge against inflation.
You will never lose money on your investment if you accumulate at face value.
It’s difficult not to buy something that may double in value in a short period of time.
They are 30 – 100 years old. (This reason is just cool)
They are a pain to spend so you won’t cash them in. (except for in a true emergency)
Numismatic finds.
They are liquid.
(Copper pennies can be traded and sold now at ebay, realcent, coppercave and APMEX)
Freedom! (no social security number is attached to them)
They are already assayed by a recognizable reliable source. (Free)
They are a true storage of value.
(If you never need to use them you can pass them on to your friends/family)
They can be liquidated in large or small increments as needed.
(As opposed to a large chunk and taxable transaction like real-estate)
It takes a lot of energy, labor and equipment to mine copper. (These costs will likely go up)
Copper is essential in our power grid. (Our power grid does and WILL need to be updated)
Many feel that there is just not enough copper to meet the worlds growth needs in the future.
(Consider China’s and India’s future needs alone)
Copper has ALWAYS been money.
When the copper pennies are all gone from circulation, where will you buy copper with no risk?
Sorting and searching can be fun and even therapeutic.
Having hundreds or thousands of dollars worth of copper pennies can help you feel more secure.
Gresham’s Law.
Survival reasons. Trade or currency WTSHTF
They can be a fun conversation item with friends.
The most important reason to save copper pennies…
Grandma always told you to save your pennies!
I know you have read these before but sometimes we all need to be reminded why we might want to do this. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 07/01/2010 : 22:15:36
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| this should be in the discussion forum section... |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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Nickelless
Administrator
USA
5580 Posts |
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stateofmind
Penny Pincher Member
143 Posts |
Posted - 07/01/2010 : 22:52:45
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quote:
Originally posted by theo
quote:
Originally posted by stateofmind
Point taken about the 4th scenario. I left that out. Why do you think inflation would be good to penny hoarders, as compared to other, more liquid commodities such as silver and gold? And what makes you think the economy will not grow? I don't "subscribe" to the notion of TSHTF and the world ending, I think that is rather silly.
The fact is, in an inflationary scenario anyone would be better off holding worthwhile stocks and stocking up (no pun intended) in PM's, Guns, Ammo, Food, and land. Besides being a hobby, CU hoarding just isn't worth the hassle for a real, positive, economic benefit.
And JobIII, I think expecting even 60-75% is overly optimistic.
"And what makes you think the economy will not grow?"
Because, as a rule, economies do not grow when taxes and Government regulation are on the rise. The Great Depression and the stagflation of the 1970s are two great examples. These liberal Keynesian policies tend to be disproportionately hard on small businesses, which are responsible for most of the job creation and much of the innovation in our economy.
I've heard it argued that the economy looks a lot healthier than it actually is right now, because businesses are are posting higher profits this year to avoid the higher taxes that will hit in 2011. Also weathly individuals and business will start selling off various assets (houses, stock etc) in 2010 to avoid the increased capital gains taxes in 2011.
"Why do you think inflation would be good to penny hoarders, as compared to other, more liquid commodities such as silver and gold? And what makes you think the economy will not grow?"
Actually I think that silver and gold would do better in an inflationary environment than copper. However, hoarding copper pennies has some advantages:
1. They can be had for a minimal investment. No one is too poor to fill a coffee cup with copper pennies.
2. There is almost no risk with copper pennies in that they will still be worth their face value.
"I don't "subscribe" to the notion of TSHTF and the world ending, I think that is rather silly."
I don't "think" it will happen either. In fact I give it about a 1 in 20 chance of occuring in the next 5 years. But if we are both wrong and the dollar completely crashes our coins will be used as a medium of exchange. Look at Zimbabwe.
All of your arguments against copper penny "collecting" could have been used against those who collected silver dimes and quarters in the mid-sixties. Bear in mind that between 1966 and 1982 the Dow basically stayed the same while silver and gold exploded. I don't have the actual numbers, but I believe copper also did pretty well in this time period because it was in 1982 when the U.S. mint decided that it was too "expensive" to mint copper pennies anymore.
Either way, if the economy grows or not, pennies are not where you would want to be. If the economy recovers invest in stocks, if the economy doesn't the price of copper would be hammered from lower demand.
Your coffee can argument doesn't make sense. Unless you are dealing in large volumes, it doesn't even remotely make economic sense. The pennies will be worth face value, but with the time that you spent sorting (or the premium from buying), will quickly turn a hoarder into the red.
Zimbabwe is/was not as developed as the United States. Can you really see our society regularly using coins for transactions? PM's would serve an investor much better.
It is dishonest to try to use the stock indexes to imply that money could not have been made during 1966-1982. Instead of saving 90% silver, the money would have been much better put into a basket of, mining companies, for instance.
Theo, please don't take my response as insulting or combative. I don't want it to come across that way. I just want to let potential members getting into CU hoarding that it's not as much of an "open and shut case" as most members here make it. Hopefully they can look into other options and decide what is the best for them. |
Check out our new site, RealCent.org!
"There are people who are very resourceful, at being remorseful, and who apparently feel that the best way to make friends is to do something terrible and then make amends."
-Ogden Nash |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 07/01/2010 : 22:53:49
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quote:
Originally posted by theo Look at Zimbabwe.
quote:
Originally posted by stateofmind Zimbabwe is/was not as developed as the United States. Can you really see our society regularly using coins for transactions? PM's would serve an investor much better.
I hear this ZIMBABWE example often. Two questions:
1. Exactly what happened in Zimbabwe to make it a legitimate example for this discussion, and
2. Is it possible that the same scenario could play out here?
Serious questions... not implying or inferring anything, I just really don't understand... |
Edited by - uthminsta on 07/01/2010 23:10:23 |
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stateofmind
Penny Pincher Member
143 Posts |
Posted - 07/01/2010 : 23:05:25
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| Uthminsta, I'll be frank. Zimbabwe's president took land from whites, who knew how to farm, and gave it to blacks, who didn't. This caused the food supply to fall and set off a chain reaction. And no, the same scenario will not happen here. What will happen is moderate inflation, and to protect yourself one should invest in guns, ammunition, PMs, food, and land. |
Check out our new site, RealCent.org!
"There are people who are very resourceful, at being remorseful, and who apparently feel that the best way to make friends is to do something terrible and then make amends."
-Ogden Nash |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 07/01/2010 : 23:12:16
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stateofmind, I see. But did that then cause the economy to crumble enough so that the citizens used the coins with intrinsic value for what they were "really" worth?
I'm just having to guess that, as it seems that is the way the example is usually used. |
Come to the new and improved realcent: http://realcent.org
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Edited by - uthminsta on 07/01/2010 23:14:19 |
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Nickelless
Administrator
USA
5580 Posts |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 07/01/2010 : 23:20:06
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| Sorry Nickelless. Here's what I was thinking though: As soon as it's explained, it might actually be a useful example for this discussion. That was half of why I was asking. Not trying to chase anything down a rabbit-hole. And I know that can happen fast here. |
Come to the new and improved realcent: http://realcent.org
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Nickelless
Administrator
USA
5580 Posts |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 07/02/2010 : 00:46:49
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quote:
Either way, if the economy grows or not, pennies are not where you would want to be. If the economy recovers invest in stocks, if the economy doesn't the price of copper would be hammered from lower demand.
Your coffee can argument doesn't make sense. Unless you are dealing in large volumes, it doesn't even remotely make economic sense. The pennies will be worth face value, but with the time that you spent sorting (or the premium from buying), will quickly turn a hoarder into the red.
Zimbabwe is/was not as developed as the United States. Can you really see our society regularly using coins for transactions? PM's would serve an investor much better.
It is dishonest to try to use the stock indexes to imply that money could not have been made during 1966-1982. Instead of saving 90% silver, the money would have been much better put into a basket of, mining companies, for instance.
Theo, please don't take my response as insulting or combative. I don't want it to come across that way. I just want to let potential members getting into CU hoarding that it's not as much of an "open and shut case" as most members here make it. Hopefully they can look into other options and decide what is the best for them.
"Your coffee can argument doesn't make sense. Unless you are dealing in large volumes, it doesn't even remotely make economic sense. The pennies will be worth face value, but with the time that you spent sorting (or the premium from buying), will quickly turn a hoarder into the red."
All I'm saying is that if inflation started to take off, I'd rather have a coffee can full of pennies than a fist full of cash. Many of us actually enjoy searching for copper pennies and don't consider it work. This is a hobby for most of us; not a business.
"Zimbabwe is/was not as developed as the United States. Can you really see our society regularly using coins for transactions? PM's would serve an investor much better."
If hyperinflation hits, absolutely. PMs are better, but a very small percentage of the U.S. population owns physical gold and silver in any quantity. Most people will have at least some current coins.
"It is dishonest to try to use the stock indexes to imply that money could not have been made during 1966-1982. Instead of saving 90% silver, the money would have been much better put into a basket of, mining companies, for instance."
You misunderstood me. I merely said that 90% silver would have been a much better investment than the Dow 30 stocks and by extention about 95% of all investment portfolios. Also keep in mind that, unlike today, most middle class people in the 60s didn't invest directly in the stock market (the Great Depression ended a merely a generation before). The easiest way for them to acquire silver was the 90% coins.
The other reason I used the 1966 to 1982 period as an example is because I believe we are headed for something similar over the next several years where physical gold, silver and even the lowly copper penny will outperform most stock portfolios.
"Theo, please don't take my response as insulting or combative. I don't want it to come across that way."
Don't worry about it. I enjoy a good discussion.
"Uthminsta, I'll be frank. Zimbabwe's president took land from whites, who knew how to farm, and gave it to blacks, who didn't. This caused the food supply to fall and set off a chain reaction. And no, the same scenario will not happen here. What will happen is moderate inflation, and to protect yourself one should invest in guns, ammunition, PMs, food, and land."
Are you saying that our Government would never take wealth from productive citizens and transfer it to unproductive citizens? hmmm |
Edited by - theo on 07/02/2010 00:55:22 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/02/2010 : 01:50:23
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quote:
Are you saying that our Government would never take wealth from productive citizens and transfer it to unproductive citizens? hmmm
That is exactly what I see happening here now!  It's called entitlement benefits, and this totally unwarranted largesse is one of the primary reasons this country is dying. The recipients are "busted flat in Baton Rouge" and will turn out in force (when herded and driven to the polls) to oust politicians who threaten to pull them off the public teat. Back on subject... I see copper sorting as a pleasurable inexpensive hobby, which may well be one of the few ways the general populace can afford to participate in the PM's and base metals boom that will benefit from high inflation. In any event, the small amount of capital most of our forum members have invested is not sufficient to have life-altering effects, even if it were more aggressively and succesfully invested. JMHO  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 07/02/2010 : 03:58:47
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I think it is worth sorting
From a hobby standpoint, I think it is worth the time
1. For someone who has a treasure hunting spirit, there is nothing like finding old wheats, old Indian heads, foreign coins, and dimes
2. I tend to do it as I watch TV so instead of mindlessly sitting in front of the TV, I feel I can get something accomplished; sort of like how your grandma use to sit in the living room knitting as she watched T.V :)
From an investment standpoint, I think it is worth the time
1. Not only are you finding copper pennies but wheats, indians, and dimes. I once found a $33 value Indian head which made my whole box of pennies free and I often find dimes in penny rolls.
2. It helps us diversify our metal holdings beyond silver and gold. With all the fluctuations in gold and silver lately, it is nice to be able to invest in a metal for below face value. Even if copper prices tumbled, you would still have a penny that you could spend so overall it is a pretty safe investment.
3. Even if copper didn't skyrocket, I think that 15 to 20 years from now that copper Lincoln memorial pennies would be collectible just like wheat pennies today. Many of us are finding 20% to 30% copper pennies when we sort; as time goes by this percentage will grow smaller. Don't you wish you would have been hoarding common date wheat pennies back in the day. You can often sell them for 4 to 5 cents a piece today so pretty much 4 to 5 the initial investment. Not many investments (stocks, real estate, etc) today are worth 4 to 5 times what you paid for them.
4. As a child of the 80s, I use to go through my grandma's change and find silver sometimes. I always give my mom a hard time and tell her don't you wish you would have been hoarding silver back then. 10 to 15 years from now, I would'nt want to be kicking myself and say "why wasn't I hoarding copper pennies when I had the chance"
I do not agree that the U.S economy will go through a great recovery. Look at Europe right now and all the austerity measures that Greece, Spain, etc are taking/going to have to take. Why would we think the U.S government may not have to take the same measures down the road???
The government cannot continue to spend and spend and not pay the piper. They will either have to A. take major austerity measures and cut social spending. It might be too late for that to work B. Print their way out of the problem which would cause inflation.
I am betting the government is going to try to print their way out of the problem. Cutting spending and social programs would not be popular with the American people and politicians want to be re-elected. Politicians will probably pick the easy way out. If that happens, that will be great for penny sorters.
Sorry for the length :)
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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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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 07/02/2010 : 10:06:47
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There is a lot more than 3 senarios. Maybe more like 100?
Melt ban could come off at anytime and BAM you can basically instantly 1.5-2x your money.
The dollar is very weak and will keep becoming weaker untill our government choses to be be smart about the way they handle money. If you are holding paper and the value of the USD goes down than you lose value. If you are holding copper pennies and the USD goes down than the USD value of the coins will go down but the value of the copper will hold or increase because metal always has value and people always need it. |
Copper Penny Investing
www.portlandmint.com |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 07/02/2010 : 10:17:45
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I like it how we all speculate that copper is going to be going up. I guess no one here would really invest into this hobby if they thought prices would go south.
I would be surprised to learn that anyone, even RC members, would be able to answer yes to the following questions:
-Is anyone [here] investing more in pennies than their 401K?
-Has anyone moved their $$ from a retirement fund into copper cents?
Personally I can't. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 07/02/2010 : 10:20:48
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quote:
Originally posted by JobIII
I like it how we all speculate that copper is going to be going up. I guess no one here would really invest into this hobby if they thought prices would go south.
I would be surprised to learn that anyone, even RC members, would be able to answer yes to the following questions:
-Is anyone [here] investing more in pennies than their 401K?
-Has anyone moved their $$ from a retirement fund into copper cents?
Personally I can't.
Its very possible for it to drop like a rock, but how far down would it go? Average midsize car has 44lbs of copper in it. Average midsize house has 430lbs of copper in it. 95% of elections have copper in them. Thats just the tip of the iceberg! |
Copper Penny Investing
www.portlandmint.com |
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3Saints
Penny Sorter Member
USA
55 Posts |
Posted - 07/02/2010 : 10:20:50
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| If there is enough profit....there are those won't care about a "melt ban" Once you have been paid...do you really care what is done with them?? I believe plenty will be melted in the near future. |
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I'm Going to Open a Can of Worms Here...
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I've been known to chase a rabbit or two in my time.
In fact, that was one of my favorite philosophy professor's favorite phrases...but I digress.
