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topeka
Penny Pincher Member
160 Posts |
 Posted - 03/25/2008 : 10:11:56
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Hello Group,
I am new here and am certain this has already been discussed...but,
Does anyone have a guess as to how long it will take to glean all/most of the copper from circulation. Are we talking about weeks, months, years?
If I know this window of opportunity will only be open for a few months I will be much more aggressive. If I think I have 5 years to reach my penny goal I will relax a little....
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Silver..poor mans gold
Copper..peasant silver |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/25/2008 : 10:25:41
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There are hundreds of billions of pennies in circulation, and billions more stashed away in peoples piggy banks, so I'm not too worried that they will be gone in a few months.
I'm guessing within a year there will be many more people hoarding copper pennies, and maybe in 3-5 years they will go the way of the silver dime.
But if you are able to buy thousands of dollars of pennies at once without harming your cash-flow I don't see where you will go wrong doing so. You aren't going to lose any money on them just sitting there waiting to be sorted, and the sooner you get them the more likely they will have a high percentage of copper.
Remember, weigh your boxes before opening them. Anything less than 14 lbs is almost all zinc and it will be easier to dump them if they are in unopened boxes.
I just found a branch of my dump bank in the town I work in, so I can now deposit my zinc during lunch breaks. This will save me plenty of time and some gas too.
Tomorrow I'll dump $800 or so, and this Friday I'm picking up a small order of 24 boxes.
Sort sort sort while the getting it good! |
Sorting In Northwest Mississippi |
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M83striker
Penny Pincher Member
USA
108 Posts |
Posted - 03/25/2008 : 10:31:21
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| Most of us probably sort as fast as we can with as much as we can afford. Everything comes to an end sometime and the more you can get now will be the better shape you'll be in later. I'm new to this also and can only afford about $50 a week, but with my zinc return at the end of the week I'm building myself up slowly. |
When my wife got after me it sounded like "Blah,Blah,Blah", but now it sounds like "Clink,Clink,Clink". Its amazing what that Ryedale can do for a hounded husband. |
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2ndAmendmentGuy
New Member
9 Posts |
Posted - 03/25/2008 : 10:32:30
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This question is not easily answered. You need to know a couple of variables which you can not attain.
#1. How many copper pennies are still in circulation?
#2. How many hoarders are out there?
#3. How many pennies does each hoarder hoard every week/month/year?
#4. Is the government or Brinks taking the coppers out?
I am still pulling out around 25% copper from my boxes. I would not be in a feverish rush to spend your whole paycheck on pennies. Personally with a wife and two kids, $100 a week is all I really can afford, and I feel like that is sufficient for me.
Just do what you can do. If you are banking on pennies making you wealthy, you honestly need to look to something else to build your wealth. Pennies are a good place for a no-risk investment, but don't expect to rub elbows with Warren Buffett any time soon. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/25/2008 : 10:41:18
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| Hard to say as there are billions of copper pennies out there still. However, there seems to be more and more publicity on the copper hoarding antics of a few of us and it has been in the news. Plus, there is going to be a new design for the Lincoln cent next year so collector interest will likely see an upswing for Lincoln cents from wheats to coppers to zincs so more will leave the circulation then too. I guess my advice to you would be to hoard what you can afford now so that you arent kicking yourself down the road for not doing it. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
 Posted - 03/25/2008 : 10:49:45
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quote:
Originally posted by WilliamC
Tomorrow I'll dump $800 or so, and this Friday I'm picking up a small order of 24 boxes.
I love it.. now 24 boxes is considered a "small" order!
I think there will be some copper in circulation for years.. but the percentages are going to shrink over time. If you look at all those variable 2ndAmendmentGuy mentioned you know they will all have an affect, but there is nothing we can do about those things even if we knew the exact numbers. The only variable we can control is our own sort rate. The sooner you capture unsorted boxes the higher the percentage of copper you will glean from them will be.
As William says "Sort sort sort while the getting it good!" |
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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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 03/25/2008 : 10:55:12
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Hoard -
Any duds lately?
The board has been quiet after the initial salvo of duds. |
Trust the government? Ask an Indian. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/25/2008 : 11:09:15
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| I haven't been picking up many boxes lately.. that is one way to avoid duds.. LOL. I have been trying to carve down some of my existing stacks. I may pick up a few boxes from Dud Central Bank this week and slide them across the scale. |
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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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/25/2008 : 11:18:56
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quote:
Originally posted by HoardCopperByTheTon
quote:
Originally posted by WilliamC
Tomorrow I'll dump $800 or so, and this Friday I'm picking up a small order of 24 boxes.
I love it.. now 24 boxes is considered a "small" order!
Heck if Topeka goes through with his $10,000 order then anything I do will be a small order!
I can't imagine getting more than 60 boxes at a time personally, but I'd love to read about someone getting 100 or more. |
Sorting In Northwest Mississippi |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/25/2008 : 14:37:58
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| I kicked it up to 100 boxes a week for a short period.. but that was using 2 different source banks. Zinc disposal was a bitch 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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misteroman
Administrator
USA
2565 Posts |
Posted - 03/25/2008 : 21:44:52
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I was going to kick it up to 12 Boxes this week from 11,but not sure how much longer I can keep taking $275 a week out of the bank without wifey noticing
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/27/2008 : 00:03:04
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Derek,
Return some zinc! |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/27/2008 : 00:05:03
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| Yeah, if you take back the rejects you can buy much much more. Just keep taking back the zinc and getting new unsorted boxes. |
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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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/28/2008 : 12:28:13
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quote:
Originally posted by El Dee
Hoard -
Any duds lately?
The board has been quiet after the initial salvo of duds.
I just got 24 boxes of zinc today, but I was able to take them straight to my dump bank after weighing them (14.2 lbs each).
And the dump bank was kind enough to give me $450 of pennies they had, which aren't all zinc!
Glad I didn't order 50 boxes for today! |
Sorting In Northwest Mississippi |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 03/28/2008 : 17:17:13
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It has been 44 years since silver coins were discontinued. Even stupid people realized then that it would be a good idea to save them. Nevertheless, you can still find a few silver halves in rolls.
There are a lot more pennies than halves, and people give them a lot less attention. I doubt if there are more than a thousand or so collectors actively saving the coppers. (Ryedale has sold only 170 machines.) |
A penny sorted is a penny earned!
Please use tinyurl.com to post links. Long links make posts hard to read. |
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