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Miser-stro
Penny Sorter Member
74 Posts |
 Posted - 01/03/2008 : 22:55:25
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quote:
c140cessna: "One last thought....we should set a price point on Ebay of no less than 2X Face....let's drive this market.....like a little OPEC of the Copper Penny World."
I'll second that emotion.... I'm soon going to list a few copper cents myself, and was going to set the reserve at 2x. I know at least a couple of the Ebaysians already selling are from this forum. I think with the limited number of people seriously hoarding / pulling Cu from circulation right now, we might also have a little more say on what we get, at least to a degree. I know I will not be accepting less than 2x before shipping. And I know it can be done. Past ebay sales have consistently brought $100+ for $50 FV of Cents NOT including the flat rate Priority Shipping. Recent sales have been lagging around the $85-$90 range though.
What are some other member's thoughts on this????
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Ryedale
Administrator
USA
523 Posts |
 Posted - 01/04/2008 : 01:30:08
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At this time, I can justify continuing to "save money" in the form of pennies. Other than an emergency, I will not sell mine for any less than .02 cents per unit. Even with an automatic sorter, the rest of the activities justify the price. Anybody that says "why would I give you .02 cents for something I can go to the bank and get for .01, will quickly understand the work involved. When people give me this theoretical answer, I encourage them to go and do it themselves, so their argument becomes my ammo (they never do). The activity in my opinion demands a price.
With respect to this "cartel" arrangement, there will always be undercutters, and thats just the way the markets work. As to the idea that copper will come back down in price, I say thank goodness, because when it does, many other things will be lower in price too, and my potential gains in copper, will still be paidoffset, in lower price goods. Neat thing about the copper price and pennies, is that we got in at the basement price. Worst case, we turn them in for face. I will do that when Gasoline hits a dollar a gallon again, I'll give them two rolls. Crisis averted (probably not going to happen).
Good subject here, I'm in. No copper sales from me for less than Two Cents per unit. |
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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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 01/04/2008 : 07:16:54
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I have yet to sell a penny on E-Bay even though I have extensive E-Bay experience and an account with 700+ positive feedbacks. The time just doesn't seem right yet. Call me greedy, but I'm looking for an obvious depletion of copper pennies in circulation and more public awareness before I make my move.
If things don't pan out the way I hope and I can't sell on E-Bay for at least 2 cents each, I will likely take the whole lot to a recycler to avoid the E-Bay hassle. So you can count on me to bide my time and not drive the price down.
If comes down to selling to a recycler, I am all for pooling tons to get the best price. Heck with enough tons we could sell to a buyer in China and have them shipped out of the country to get the best price... |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 01/04/2008 : 07:46:55
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| I will set my personal web pages up to sell the coppers at no less than 2 cents each. On EBay, I would love to get 2 cents per copper, however I'm reluctant to set a reserve, as they tend to drive buyers away. No reserve standard auctions are likely to get more bids. Also setting a starting price above $9.99 will cost more for the listing, which will eat into the profit. I plan on letting the market set the price, as that will ultimately get me more bidders, which should convert to more profit. Since I am small player in the mix, bigger players like c140cessna, Ryedale, and HCBTT should push the market higher with their listings. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 01/04/2008 : 08:02:37
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| I have yet to sell anything and won't until later this month or next. The wife won't let me hang on to it. I have made it a point to bid on several copper coin auctions, when the prices were too low, and they were a bargain. I would encourage everyone to do the same. Who knows you may get some cheap copper. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
 Posted - 01/04/2008 : 09:55:20
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| I am probably the biggest copper seller on eBay. I have consistantly put up bags and boxes over the last year to test the market and to convert some of my copper into gold and silver for diversification. As Miser-stro stated the bags used to bring above $100. You should have seen the number of copycat ads that showed up the week after one of my bags went for $192.50.. LOL. One guy even had the exact same size hoard as me, and even had the same girlfriend telling him he needed to get rid of some.. yep, copied my ad word for word. I reported it to eBay and they pulled the auction. As they say in the prospectus of almost any investment "Past performance is no indication of what may occur in the future" Recently auctions have been closing in the $90 range for me and $75-80 for my competitors. Fortunately the lower priced bags went to regular repeat customers so it didn't sting as bad. I was glad if they were going that low that they at least were going to folks that had been buying from me for several months. In case you hadn't noticed, the decline in bag prices has tracked pretty closely with the decline in copper prices. No matter how much we would like to get for our copper cents, the market is the market. A seller, no matter how big, cannot "push" the market. Not unless he controls all the supply. A seller can withdraw from a market however if he deems current market price to be lower than what he is a willing seller at. Last week I listed 40 boxes (20 bags) at 49.95 with shipping of $10 for up to 3 boxes and did not sell a single one. I also added a Best offer option in the final couple of days and had to decline an offer for 20 boxes because it was lower than what I was willing to sell at. I have bid on a few of my competitors' auctions when the price was too low and even won a few. I think I may pull out of the market or limit my sales until the price of copper goes up again. |
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. |
Edited by - HoardCopperByTheTon on 01/04/2008 10:01:58 |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 01/04/2008 : 10:32:10
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The thing about copper is the shipping price is very high relative to the value of the metal, unlike gold or silver.
Hoard, what carrier do you use? How do you package it? |
Trust the government? Ask an Indian. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 01/04/2008 : 11:25:34
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So the answer is:
1. Don't offer anything on EBay until the markets are willing to pay at least 2 cents each.
2. Set up a free web site to sell at a minimum 2 cents each.
3. Continue hording until something changes.
4. If the melt ban ever ends, the scrap copper value will likely be much lower than what we could get selling the pennies as is.
5. These pennies will ultimately have more value at some point, when so many of them are melted or pulled out of circulation by hoarders. The lower the copper percentages, the more valuable they will ultimately be.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/04/2008 : 12:21:22
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The shipping cost is a major factor. I was offered a chance to buy 2 tons at a very reasonable price but the shipping cost is what kept me from doing the deal. I ship by USPS Priority Flat rate box. I double reinforce the box, use interior packages with either 2500 or 5000 cents in each and use lots of good 3M tape. My standard box weighs 52 pounds.
You can't really complain about current prices. What would you be willing to pay to add to your hoard without sorting? Most buyers are going to consider melt cost, subtract shipping costs.. and then hope to get a deal below that. As a seller you can decide if you want to sell at the current price, or wait for the market to develop further. You can try to set a price you would like to get, but if it doesn't sell all you are doing is paying listing fees to eBay.
One other thing you forgot Tourney64.. If you are going to sell on eBay you have to factor in the cost of selling. You are going to eat listing cost, final value fee, and PayPal fees. So you need to figure out if you are willing to sell at the net price. |
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. |
Edited by - HoardCopperByTheTon on 01/05/2008 00:08:38 |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 01/04/2008 : 14:48:11
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I just checked USPS. That's amazing. A Priority flat rate box is $8.95 and NO weight limit.
Hoard, you must meet some grumpy postal workers.
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Trust the government? Ask an Indian. |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 01/04/2008 : 15:08:45
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| those flat rate boxes are great. i think they have a 70 pound weight limit though. |
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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n/a
deleted
34 Posts |
Posted - 01/04/2008 : 18:21:49
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I maybe be selling my stash of 59 thru 81 copper cents on ebay in next few weeks on ebay. Those are rejects I cant install in my resale ce-harris folders complete sets from 1941 thru 2007 for ebay. The onley reason I make those 59 thru 81 cu 25 dollar bricks of copper pennys. Its by product from searching bank boxs to build sets like I build and sell for 35 to 49 bucks per set on ebay to guys who collect sets.
My hoard of 59 thru 81 copper pennys are growing and geting biger as I search looking for au/bu pennys, wheat pennys to fill books. I am building 15 sets of 1909 thru 2007 books for ebay. I may build another 50 sets since I need to use up some lefht over bu rolls or pennys or stuff I need to use up. If do that will search maybe 500 to 1000 dollars worth cents from bank and build more 59 thru 81 copper bricks at same time.
My problem is I need dispose of those 59 thru 81 and 2007d bu boxs of coins I dont need or will ever use. I thinking to save money on ebay fees and paypal fees and cost to sell them. I was going start them at .99 cents per 50 dollar lot of those pennys and let the biders pay whatever for them like fair market value on them. If they want it will sell for fair market. Completed sales are showing them going 85 to 95 per 50 dollars on them in last few weeks since base metal prices went down.
I see those guys all time trying to sell those 25 dollar bricks for 50 or 50 bucks worth for 99 bucks. Those guys are losing tons money each time they relist or put there stuff on ebay and it dont sell. I seen some guys relist them maybe 5 times or more trying sell there 59 thru 81 copper pennys. I check ebay each day looking at copper cents below melt.
The key is on selling stuff on ebay is leting go of it and not let ebay or paypal take all your money. My last big sale was over 2000 and I got stuck paying over 250 bucks on fees over it.
So becides holding out and trying to get 2 cents each for them. Trust me you will make more money selling them at .99 cents and no reserve auctions since you will be selling volume becides relisting them over at over at 2 cents each. The problem I see selling copper cents is very few peaple hoard them becides us .
Its hard to say if its worth selling them ebay or just keep saving them intill base metals go back up. We all know its hard to short 250 dollars worth cents just to get 50 bucks face on them. I get less than 5 bucks per 25 dollar box. I may keep my boxs intill copper goes back up.
Chevrolet454ss |
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 - 01/05/2008 : 00:06:30
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| The weight limit for the Flat rate boxes is 70 pounds. They joke with me all the time at the post office about how they are going to revise that weight limit because of me. They give me a hard time if I go a few days without bringing in any heavy boxes.. they say I am getting lazy. I take care of my postal workers though.. I bake them cookies. Wouldn't want them going postal on me. |
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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Miser-stro
Penny Sorter Member
74 Posts |
Posted - 01/05/2008 : 02:24:38
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| LOL....a couple days ago I shipped $50 fv in one of those flat rate boxes. I told them it was my Rock Collection when they asked. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/05/2008 : 10:18:57
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| I always say it is copper discs for jewelry making if they ask. |
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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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 01/05/2008 : 21:07:59
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You guys can bust your hump selling into the current market at $85 - $95 for a $50 bag.....this is a big mistake...you are strengthing the low price point. A lot of you guys are in a 20% copper area....thus, you need to sort $250 Face to get $50 copper....and have to dispose of $200 zinc...then, Ebay Ad, Ebay Fee, Paypal Fee, Be a Packaging Engineer, Hump these to the Post Office.....holy crap...that is a shload of work for what....$25 - $35 "profit"....not including your vehicle costs.
Simple Analysis: I think we are fools to sell at this price. Wait for these to be worth 5X to 10X Face Value.
Keep it up....you will be burned out and quit before the big pay-day arrives. You might also wear-out your welcome at your dump banks. |
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n/a
deleted
34 Posts |
Posted - 01/06/2008 : 04:05:28
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c140cessna,
I dont know what say but all that you said is true . Its to much work to sell them less 2 x face if you include time, gas , sellers fees and stuff.
Ebay is geting cheap on those copper cents for whatever reason after checking completed sales today. I wish the price would go up more to make it worth doing. Fair market value is geting to low it seems. I may start doing Half dollars intill price goes back up again on copper. I guess I can let them sit for little longer intill prices go higher again.
It would nice if price would go back up or higher.
Chevrolet454ss |
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 - 01/06/2008 : 09:50:31
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I have never sold any of my Cu cents. For me this is a long term, no lose investment. I will continue to pull copper and hoard it until there is no more to pull. I can see selling for 5X or above. Sell if you must, but I will continue to just hoard. If eBay is cheap on buying prices, then go buy them there. I have never bought bulk cents from eBay.
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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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 01/06/2008 : 13:22:38
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I agree with your points cessna, the effort and expense of what has to be done is not as rewarding as it should be. I believe we should be able to make a little profit, but not what we could.
There are a lot of unknowns:
1. Copper price go up or down?
2. Market price for the copper coins go up or down. I think it will go up?
3. Will the post office gets wise and adds a weight limit on priority mail shipments of 10 lbs?
4. Will the melt ban be lifted for just the one Ohio company, which would quickly melt all our copper coin supply?
5. Will the mint start a Copper Recovery Program to pull copper pennies out of circulation?
6. Will the melt ban be lifted for everyone?
7. Will the price of copper scrap be more in line with the copper price if the ban is lifted?
8. Will the banks/credit unions start charging more for the coin being returned?
I don't blame some people for waiting to sell now at whatever price they can. There are too many things which may impact the value of what they have. I personally think that the price of the copper pennies will go up. They aren't making any more of them. It has been a couple of weeks since I have even received just one in my change. The newly designed Lincoln penny out in 2009 should increase the number of penny collectors.
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 01/14/2008 : 00:41:55
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I also agree with cessna. You have to look at this as a long term investment. I am not going to sell any of my copper for less than 4X face value. It is a lot of work to find banks to buy bags or boxes, get it home sort it, roll it, and get rid of the zinc. I am rolling mine and putting $25.00 bricks in my basement. When the value of the coins gets to 4X each one of those will be worth $100.00 I am also rolling mine so it will be easy to keep track of how much copper I have and it will be easier to sell it on EBAY. And WTSHTF and all our paper money will only be good for wiping your butt, you might be suprised how much a roll of copper might buy.
Who knows how high copper could go. If we get 10 - 15 times face value like the people are now that pulled silver out of circulation not all that long ago, we would be getting $ 250.00 for each brick we put away. Probably is not going to happen but you never know. |
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. |
Edited by - NDFARMER on 01/14/2008 00:43:18 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/14/2008 : 12:10:42
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| It may be that the guys buying up the copper pennies at low prices right now have the right idea. They get the copper delivered to them.. with no labor, no capital equipment costs, and no trips to the bank to get unsorted boxes or dispose of zinc. All of the copper they could possibly want and they don't even get their fingers dirty. |
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. |
Edited by - HoardCopperByTheTon on 01/14/2008 12:12:40 |
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Calling all Ebay sellers..............
Forum Locked
