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n/a
deleted
43 Posts |
 Posted - 02/07/2008 : 11:17:49
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I had a thought about the 1982 pennies.
I started hoarding pennies when I heard from a news broadcast about the melt ban a little while back. When I heard that broadcast refer to the metal content versus face value of the coins two words popped into my mind... "junk silver".
I have dealt with junk silver before and understand the basic concept of coin inflation but I VERY foolishly never applied the idea to base metal coins. I could kick myself in the rear end for not having the sense to think it out and hoard pennies sooner  , I imagine all the coins I could have had if I had made the connection years earlier! 
Anyway, I am of the thought that the pennies will eventually be sold the way junk silver is today, I am not as sure about them being melted down. So my thought is this...
If pennies are eventually traded the way junk silver is today, then wouldn't it be a good idea not to mix the copper 1982 pennies with the other pre-1982 pennies because people might develop trust issues regarding any 1982's being in the mix. It would be like opening a bag of junk silver half dollars and having some from dates that may or may not be silver, it would cause a verification problem and could create added problems in buying/selling.
It's just a thought. Of course if you are thinking that the pennies will eventually be sold for melting then it doesn't matter but if they are eventually sold the way junk silver is then it could be an issue.
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Edited by - n/a on 02/07/2008 11:18:42 |
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Ryedale
Administrator
USA
523 Posts |
Posted - 02/07/2008 : 11:25:47
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I would think, anybody buying these coins in quantity, could simply have a sorter at hand, that cares less about the date, but looks only at the alloy content. They could quickly "validate" the sample.
Smaller hoarders or buyers, may need to weigh the 1982's to confirm they are copper or zinc.
good question. Welcome to the board. |
Ryedale
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"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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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 02/07/2008 : 11:31:12
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| I simply put the 82's back into circulation, although lately, I have been thinking of saving them. The melt ban is what caught my attention as well. Better late than never! |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 02/07/2008 : 13:06:02
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quote:
Originally posted by starwarsgeek171
I simply put the 82's back into circulation, although lately, I have been thinking of saving them.
i think you'll find those 82's youve been putting back into circulation are averaging around 75-80% copper.
i keep my copper 82's seperate because i figure ive sorted them out once, why mix them back in? once im able to get a ryedale i wont worry about it. like ryedale says, it depends on if someone is interested in alloy or dates. |
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 02/07/2008 : 14:39:28
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| My hoard only contains pre-1982 cents. I've sorted enough to know which ones are copper and which ones not, but I'm concerned that a potential buyer of a large quantity might think that my stash is somehow "contaminated" by possible Zinkers. I keep the Cu 82s in a coffee can. Haven't decided what to do with them yet. |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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fiatboy
Administrator
912 Posts |
Posted - 02/07/2008 : 14:46:03
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When I used to hand sort, I never kept any 82's---for the very reasons mentioned above. I still have a few boxes of just pre-82's.
Good topic, and welcome the forum, Metal Maniac. |
"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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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 02/07/2008 : 19:48:04
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| Alone, I think I will be taking your advice and adding another container to my sorting area for the 82's. They'll be stored seperately. I'll probably buy a digital scale and sort them when I get old (I've also heard there are many variations of the 1982 cent). |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 02/08/2008 : 08:40:29
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| I can fix that problem: send all your 82's to me--copper and zinc. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 02/11/2008 : 19:18:52
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Metal Maniac's quote,
"I could kick myself in the rear end for not having the sense to think it out and hoard pennies sooner, I imagine all the coins I could have had if I had made the connection years earlier!"
That is how I feel, letting that golden opportunity (or if you prefer, copper opportunity) slip through my fingers. I could have bought at least a dollar's worth of pennies a week on my limited salary and ended up with a tidy copper hoarde had I only known.
Though the reason I started saving pre 82's was due to what happened with wheat cents, I was aiming for a numismatic future payout, not a scrap metal payout.
At least we both learned about hoarding pre 82's for their copper content before the supply dries up. |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 02/11/2008 : 20:41:59
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| I never used to save them but a $10 scale makes it pretty easy to tell the difference. Now I just keep the copper 82 stash separate from the pre 82 stash and mark the pre stash no82s. |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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Thoughts on the 82's
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