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greencopper
Penny Sorter Member
USA
41 Posts |
 Posted - 02/28/2008 : 19:03:26
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I am a newbee here and I have been doing my best to read all the very informative posts! I have a question that I can't seem to find much information on. Do any of you have any exit strategy? After collecting all these pennies, how do you plan to "unload" some of your stash, and at what price are you looking for?
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aboxaweek
Penny Collector Member
USA
326 Posts |
Posted - 02/28/2008 : 19:35:33
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copper- wait until 4-5x
zinc- drop off at bank that has bad %'s or treats you bad |
*HUCKABEE*
___08'____
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 02/28/2008 : 19:42:55
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From these discussions I have seen a few people who plan to hold the cents until the price of the metal is so much more than face value that people will be willing to buy them at a junk premium, just like you can buy junk silver now for about ten times face value. Some people are already paying twp to three times face value for something they can get for face value at the bank and a little work.
The other option that others, myself included, are doing is just to save them and use them to start a new monetary system after the dollar fails.
The first round of hyperinflation to hit the United States was before the U.S. Constitution. Back then the thing that started the next round of money was the copper pennies. Just look in any coin book they start with colonial coppers.
In the end we see this as good place that will hold its value.
I for one truly love and support the U.S. Constitution and have sworn and oath to protect and defend it, which I have never retracted. I do not trust any of the people who are currently running the government. I see holding a few copper cents as a way to rebuild this great country.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 02/28/2008 : 19:44:48
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If the price of copper goes up, we win, as we have copper that is worth more than face value. The mint has enacted laws that make it illegal to melt the cents or nickel for the copper content. I do not think you will see anyone here promoting breaking this law, even if we don’t understand why the constitution gave the mint the right to enact laws. We could sell the coins at a premium just like silver coins already do.
If the dollar drops or even stays where it is at now, we win. Again if the dollar drops then the inflation rate alone will make the coins worth even more. Again as a piece of money the cents will be worth more. Yes, the sign says the eggs for $25 a dozen. Would you be willing to take $5 in copper cents? When price controls are used and you pull up to a gas station that is out of gas, like 1973, and offer $5 in copper cents or junk silver, you might find that there is a little gas left that you really can buy.
If for some miraculous reason the dollar goes up, we win, as we still have the face value of these coins that we got for face value.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 02/28/2008 : 19:47:45
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Welcome greencopper. Honestly I don't have a set-in-stone exit plan. I have an absolute minimum sell price, 5X face, but I have a reason to sell either. Who to sell to....If I was selling, I would hold on until melt ban was lifted and bare minimum reached. A private sale wouldn't be out of the question either. A lot of factors. Good luck and have fun hoarding!
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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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/28/2008 : 19:48:35
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| There may be many different ways to unload our stashes. It may be as simple as showing up to your local scrap metal dealer. On the other hand PM/coin dealers may be buying copper coins much like they currently buy 90% silver coins. Some people are hoarding with the idea they they may be used as a 'hard money' if or when the fiat money system fails. I'm sure that I'm only touching on a few of the ways to unload. |
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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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/28/2008 : 23:55:11
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My "exit plan" is easy! I die.
Then the pennies get unloaded onto my boys.
If however the currency fails before then, then my family eats bread, eggs, milk and rice for years on the copper I've hand sorted out. |
"May your percentages ever increase!" |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 02/29/2008 : 06:27:06
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I do not see a decrease in value for copper. When the price was high, there was labor strikes everywhere. Now the mines can't lower prices as many are losing money. Also, since copper is a basic element, you can't make it. China and other developing nations will continue to need more as they grow. As populations grow in other parts of the world there will be a need for copper. There is no cheap replacement for copper in electricity. There are only 2 metals that are comperable - silver & gold. Which one could you afford to use in building a home.
They will not be making any more 1972 pennies. Some have already been melted by Jackson Metals as they were hoarding and melting in 2006 until the Mint put the melt ban in place. There will continue to be the need for coins for new collectors, especially after the new redesigned Lincoln penny comes out in 2009. There are warning signs all over regarding possible collapse of the US Dollar and the American Economy.
If the Mint eliminates the melting ban, we are all ready. These pennies will disappear from circulation unbelievably fast. Then what are all these pennies we have worth after they are gone from circulation? They should be worth quite a bit more.
Large banks, impact all other parts of the economy. The large banks are no longer able to finance State, County, City govenemnt bonds, and the interest rates for these govenment agencies are almost at credit card rates. Then there is the ever increasing threat from radical muslum terrorists. We are becoming more lax in keeping this country safe. If a Democrat wins the White House, we will let the terrorists have free reign in the Middle East. Congress has already let some tools (wiretapping policy) run out that can help prevent terrorist attacks. So soon we forget 9/11.
What would you prefer to have WTSHTF - Paper dollar or copper.
I think the best days for our copper pennies are ahead of us. I plan on selling a little copper per an agreement with the wife this year. I plan to hold for better days to come. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 02/29/2008 : 07:37:25
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For myself I am rolling my copper and putting them in $25.00 boxes or bricks and stacking them up in the basement. I am going to need at least 4X face or $100.00 per brick before any of my pennies see the light of day again. And even then I will have to think pretty hard about getting rid of any.
There is just too much work involved with finding raw coins, sorting them, rolling them, then getting rid of the zinc.
I agree with Wolvesdad, I probably never will benefit from putting this copper away, I will pass it on to my kids. Unless when this economy collapses (WTSHTF) I am forced to use them for us to live on. But if my kids get the benefit of them maybe they will think "Gee the old man wasn't so nuts after all when he spent so much time in the basement playing with his pennies".
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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. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 02/29/2008 : 09:39:47
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"My "exit plan" is easy! I die. Then the pennies get unloaded onto my boys.
If however the currency fails before then, then my family eats bread, eggs, milk and rice for years on the copper I've hand sorted out."
I couldn't have put it any better! |
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misteroman
Administrator
USA
2565 Posts |
Posted - 02/29/2008 : 22:43:47
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Some of the above reasons are why I'm going to play it save and save a few boxes of Silver dimes.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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greencopper
Penny Sorter Member
USA
41 Posts |
Posted - 03/01/2008 : 12:40:09
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Thank you everyone who responded to my questions! You have all given me much to ponder. I think our economy is in big time trouble, and this will be one of several ways to make it through o.k.
I have another question: when you have your cu sorted out, do you roll it or just pile it away for the future?
Again, thank you everyone.....I am enjoying the forum and thank you for making me feel welcome! |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/01/2008 : 14:34:16
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quote:
Originally posted by greencopper
I have another question: when you have your cu sorted out, do you roll it or just pile it away for the future?
I can't see the point in re-rolling copper cents unless you want to pack them away back in their boxes. |
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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/01/2008 : 15:32:33
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They store fine loose for me....
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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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 03/01/2008 : 15:46:18
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| ive rolled a few boxes just for diversification. i can now trade or sell by singles, rolls, boxes or loose pounds. wrappers and your rolling time just take away from any profit you might make. |
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 03/01/2008 : 19:33:25
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I save my expended NFString and SOns paper rolls and deposit the coppers in there. I've done nearly two $25 boxes like this....
I don't roll all of my copper cents. Have it all different. Two bags of $15, one box of $5, lots of loose coppers.
As was said, it is good for diversification....If ever short for cash and NEEDED to sell some of my copper, I think having it in rolls will be easier like on Ebay or at a coin club. (hopefully not in the next year or even 5 years, but just in case)
And if these ever do become 'sought after' like wheat cents, then you'll get a small premium for having them in rolls. |
"May your percentages ever increase!" |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/01/2008 : 20:11:05
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You could always roll them when/if you sell. I own a Royal Sovereign, but after getting a Ryedale, it just seems too slow. I roll zinc only to spend at the gas station....
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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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/01/2008 : 20:26:54
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quote:
I have another question: when you have your cu sorted out, do you roll it or just pile it away for the future?
Currently I store them loosely in baseball card boxes that hold 800 baseball cards. They are firm boxes, and stack nicely, and they hold 2500 pennies nicely (with a little room to spare but 2500 is convenient). The nice part about it is that if someone breaks into your house, you can mix boxes of pennies with boxes of junk cards and it may look all the same. Those bank boxes are too obvious since they say right on them $25 Pennies compared to a plain white box. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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aboxaweek
Penny Collector Member
USA
326 Posts |
Posted - 03/01/2008 : 20:41:34
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Baseball cards are collectable too, i would not think that would through anyone too far off.
But, still, a good idea and conveinant.
i hate spelling. |
*HUCKABEE*
___08'____
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/01/2008 : 20:44:51
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quote:
Baseball cards are collectable too, i would not think that would through anyone too far off.
But, still, a good idea and conveinant.
i hate spelling.
Yeah the boxes are pretty cheap at your local sports card store. I dont collect anymore but still have some from my youth and college years. That is a market that seems to have tanked in my opinion (between the strike 14 years ago, growth hormone, steroids, lack of talent) which has caused alot of the cards to come down harshly in value. Some have gone up, but I just dont have interest in these right now like I do coins and metals. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/02/2008 : 14:53:08
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No market in baseball cards, tons of sellers few buyers....
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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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 03/02/2008 : 15:10:18
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I store my treasure as follows:
Silver coins in canvas bags on the bottom
$50 bags of wheat cents on the top of those bags
Canvas bags of Cu cents on top of those
This stacking "sand bag" style works well for me. Never a tipping over situation.
If someone really has an inclination to get at my silver they're going to have a move a lot of copper to get at it. (Of course, if I want to get at it myself then I have to do the same, but I think we're going higher than $20/oz silver even in the immediate future. I'll wait. |
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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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/06/2008 : 13:43:35
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Well I just started hand sorting last week and have already gone through $125 and see about a 20%-25% percentage of copper.
I'm soon buying a Ryedale and hope to get up to $1,000 per week.
I'll have to sell some copper to get back the cost of the machine and the initial big penny purchase, but after that I'll sell just enough to cover the cost of buying the unsorted pennies.
The rest I'll hoard since I too believe the price of copper will keep going up and within a few years the copper pennies will be treated like junk silver coins are now.
If things get really bad they will be used for barter.
I swear I'm already addicted to sorting though, last night I woke up about 1:30 and couldn't sleep, so I spent an hour-and-a-half sorting!
Finally, a work at home deal that actually makes cents! |
Sorting In Northwest Mississippi |
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Exit Strategy?
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