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misteroman
Administrator
USA
2565 Posts |
 Posted - 02/22/2008 : 10:58:42
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When They hold a penny drive or whatever they call it.Where do all the pennies go? I know the when the radio stations,churches hold them They get HUGE amounts of Pennies.Then what?I thought I remember the last time the local radio station did it they received 5 million I think($50K.
While at this time I really don't have $50K to put in to pennies and save,I do have $50 grand I could free up for a month or two.Also I think most penny drives would be smaller then that anyways.
Any thoughts to this?
Derek
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Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
 Posted - 02/22/2008 : 11:35:07
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I think it would be a great idea if you can swing it. You would get a good supply of pennies and you wouldn't even have to break them out of the rolls (the slowest part of the operation for me). Contact the organizers of each event and talk to them about their plans for disposing of the pennies after the conclusion of the event. You might even save them money by buying direct if they have to pay bank fees to get rid of all the pennies. Just think, you would be doing a good thing for the charity and getting a bunch of pennies for yourself all in one transaction. If you are going to be cashing out charity drives directly you will need to get a good high speed counter. I have a De La Rue Mach 7 that sorts/counts 4,000 coins per minute that would be perfect for this type of operation. If the charity will be depositing the pennies with a bank, find out which bank.. the bank would probably much rather sell the pennies to you than pay to ship them.
Another thought.. if you get in early on the event and offer to volunteer your services with your high speed counter you can virtually lock your chances of getting the pennies in the end. Many charities do not have proper coin counting machines.. I have even seen where sometimes they are using volunteers to do a hand count of the coins. |
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 02/22/2008 11:38:11 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/22/2008 : 11:55:49
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| A machine count would also help to promote the event. Progress could be reported quickly. |
Realcent.forumco.com disclosure. Please read.
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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misteroman
Administrator
USA
2565 Posts |
Posted - 02/22/2008 : 12:32:01
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So not too bad of an Idea.My luck they will have a nickel drive this year.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 02/22/2008 : 18:17:57
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quote:
Originally posted by misteroman
My luck they will have a nickel drive this year.
Real easy to spot silver nicks. |
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PennyProspector
Penny Pincher Member
USA
212 Posts |
Posted - 02/23/2008 : 08:08:41
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For the last 2 weeks I was the winner of the penny drive lottery!
a local grade schools was having one of them and I got a phone call from one of my buy banks telling me they have 4 bags instead of there normal 1 bag! (as I mentioned in previouse posts I only sort the bags they collect loose from customers)
Over the last 2 weeks it I picked up 13 bags from that bank ($650). was able to pick them up quikly so the bank didn't have to take up alot of storage space... they called when ever they loaded up 3-4 bags. (I am a saint like that lol)
they contained alot of old wheats and 1 inian head so far.
If you can get the banks to get used to selling you the plastic bags that they collect to sell to brinks you are more likely to be the receiver of this kind of good fortune.
If you see a school that is having a penny drive you can also call and just ask what bank they are using to count the pennies.... schools may be reluctant to allow you to count the pennies.... but the bank that is "stuck" with them would love to get them out of the vault fast!
pp
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Happy Prospecting! |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/23/2008 : 08:54:43
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| I'm involved with a non-profit org. and I found that the problem with a 'penny drive' is that a lot of people will throw in dimes and other clad with the pennies. Such disrespect! |
Realcent.forumco.com disclosure. Please read.
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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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/23/2008 : 10:15:35
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quote:
Originally posted by Ardent Listener
I'm involved with a non-profit org. and I found that the problem with a 'penny drive' is that a lot of people will throw in dimes and other clad with the pennies. Such disrespect!
That must be where I'm getting all those dimes in my penny rolls from..  Don't you just hate that? This is where a good high speed sorter comes in really handy. 
Great idea PennyProspector. This is why I have accounts at just about every bank in town. They are trained that whenever they get a big load of pennies it is much easier to call the "penny guy" and have him pick them up than to ship them. I am a saint like that too.  |
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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n/a
deleted
38 Posts |
Posted - 02/23/2008 : 22:50:27
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quote:
Originally posted by cyberdan
quote:
Originally posted by misteroman
My luck they will have a nickel drive this year.
Real easy to spot silver nicks.
How? Are they darker? |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 02/24/2008 : 00:03:47
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quote:
Originally posted by Mastro
quote:
Originally posted by cyberdan
quote:
Originally posted by misteroman
My luck they will have a nickel drive this year.
Real easy to spot silver nicks.
How? Are they darker?
They have a very large mint mark on the reverse above Montecillo....Dates of '42 P, '42 S, and every '43-'45 nickel. 35% Ag. Some hate them, I love them.
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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misteroman
Administrator
USA
2565 Posts |
Posted - 02/24/2008 : 00:14:04
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LOL, boy this went way off topic quick.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 02/25/2008 : 13:20:33
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quote:
Originally posted by MastroHow? Are they darker?
Yes, every one I have found in rolls were real dark. I pull those first, look at the back for a large mintmark. Very easy to spot. |
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How is this for getting a MASSIVE amount ofPennies
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