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redneck
1000+ Penny Miser Member
1273 Posts |
 Posted - 04/04/2008 : 05:58:32
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Copper is flirting with $4 again ( $ 3.91 ).
Just curious what you all think will happen when it breaks that.
I think that it's like Gold over $ 1000,
Silver over $ 20, a mental barrier.
When it does, do you think there will be a mad rush of people
to start hoarding pennies ( like us here ).
When Gold and Silver hit those levels, I saw people coming out of the woodwork interested in buying bullion and coins.
I just see the supply side drying up very quickly, regardless of the Mint ending the penny with prices like that.
So what do you think ?
Is $4 going to be the tipping point ?
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 04/04/2008 : 07:26:16
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| If you are talking about when does everybody start hoarding their pennies, I think it will happen based on X face value and not on psychological by the pound price barriers such as $4.00. I think average Joe does not have a clue what the normal price of copper is and $4.00 a pound is meaningless to him, but if he starts hearing copper pennies are worth 5X face that might tip him over to the hoarding side. So a bit different than the the rush to sell scrap jewelry that started around $1000 an ounce gold. IMHO |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/04/2008 : 08:56:37
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| I think 3X face is the trigger point.. LOL |
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 - 04/04/2008 : 09:36:38
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For the average person a penny will just be a penny for a long time.
Maybe when a copper is worth a nickel they will take notice, but too many people literally through pennies away rather than bother to save or count them.
I think the major coin companies will start sorting out the copper before the average person does :( |
Sorting In Northwest Mississippi |
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86 Posts |
Posted - 04/04/2008 : 09:42:16
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quote:
Originally posted by redneck
Copper is flirting with $4 again ( $ 3.91 ).
Just curious what you all think will happen when it breaks that.
I think that it's like Gold over $ 1000,
Silver over $ 20, a mental barrier.
When it does, do you think there will be a mad rush of people
to start hoarding pennies ( like us here ).
When Gold and Silver hit those levels, I saw people coming out of the woodwork interested in buying bullion and coins.
I just see the supply side drying up very quickly, regardless of the Mint ending the penny with prices like that.
So what do you think ?
Is $4 going to be the tipping point ?
Ohhh, it'll probably happen. And if all PMs and copper goes much over $4, be prepared to see a shortage of pennies and nickels at your local bank.
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86 Posts |
Posted - 04/04/2008 : 09:43:46
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quote:
Originally posted by redneck
Copper is flirting with $4 again ( $ 3.91 ).
Just curious what you all think will happen when it breaks that.
I think that it's like Gold over $ 1000,
Silver over $ 20, a mental barrier.
When it does, do you think there will be a mad rush of people
to start hoarding pennies ( like us here ).
When Gold and Silver hit those levels, I saw people coming out of the woodwork interested in buying bullion and coins.
I just see the supply side drying up very quickly, regardless of the Mint ending the penny with prices like that.
So what do you think ?
Is $4 going to be the tipping point ?
Ohhh, it'll probably happen. And if all PMs and copper goes much over $4, be prepared to see a shortage of pennies and nickels at your local bank. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/04/2008 : 09:48:12
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| It's strange, but for most people if you talk about a copper price boom and many people will be at least interested. But start talking about penny hoarding and something like 99% will pull back as soon as you bring the subject up. We have been conditioned to believe that pennies are "worthless" so hoarding them is "silly and a waste of time". This even includes a lot of people who are buying 90%junk silver coins! |
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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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/04/2008 : 12:22:57
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| Most people HATE pennies. It is very strange. I think penny hoarding keeps me down to earth. |
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21 Posts |
Posted - 04/04/2008 : 12:32:17
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| I could ask 100 people on the street what a penny is made of and I bet not one can tell you that pre-82's are copper. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 04/04/2008 : 23:36:25
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quote:
Originally posted by Goldteam
I could ask 100 people on the street what a penny is made of and I bet not one can tell you that pre-82's are copper.
i MAY HAVE TO ARGUE WITH THAT ONE.i WOULD SAY MOST PEOPLE STILL THINK TODAYS PENNIES ARE STILL COPPER
oops lol |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/05/2008 : 00:19:49
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quote:
i MAY HAVE TO ARGUE WITH THAT ONE.i WOULD SAY MOST PEOPLE STILL THINK TODAYS PENNIES ARE STILL COPPER
oops lol
I hope they think that. I have a bucket full of zincers to sell them for their copper hoard...lol |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 04/05/2008 : 00:34:16
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| Hoardy,your copper already netted you 3 cents a piece this week! |
my machine is running! |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 04/05/2008 : 00:36:39
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| Sorry Art--not yet. Its comming though!!!!! |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 04/05/2008 : 00:37:19
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| ^^^ no haordy DID get .03 each |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 04/05/2008 : 00:40:30
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| Sorry Art--not yet. Its comming though!!!!! |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 04/05/2008 : 00:42:30
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| Don't know how I did the double post. It wasn't intended. |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 04/05/2008 : 00:45:16
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| he got it and more! but according to him it's offset by the 40 times he got 1.2 cents a piece or less! |
my machine is running! |
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2 Posts |
Posted - 04/05/2008 : 00:48:12
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| we have at least 2 years before they can get some gun control legislation in place, the govt, will not collapse the economy before then. they will keep the printing presses going and as a result, I say we have 2-5 years of another takeoff in the prices of copper. |
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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 04/05/2008 : 12:33:31
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| copper will never "take off" my man. there is millions of tons of it to mine everywhere in the World.It's only a base metal and not to forget that! |
my machine is running! |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/05/2008 : 15:29:12
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quote:
Originally posted by Art Tatum
copper will never "take off" my man. there is millions of tons of it to mine everywhere in the World.It's only a base metal and not to forget that!
"It's only a base metal." Thems fighten words around here Art.  True, copper is a base metal but it's a base metal that has been used as a monetary metal through out history and it is a base metal that the expanding industrial world's demand continues to exceed mining and refining production. Copper becomes more precious every day. |
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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Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 04/05/2008 : 17:50:15
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In my opinion Joe sixpack wont even care if pennies were 5x times face . He only cares if the coin guy or if he can send them away (lol) to get a check.If you cant melt them you cant sell them and thats as useful as a VCR nowadays.
Its also to good to consider that copper is a base metal. If copper hits $5 or $10 more costly ways to mine or refine scrap will become profitable. There will be commericals for "We wil rid your house of old nasty copper pipes and put new fresh good for you PVC, FOR FREE!" and the like. I believe in copper, but I dont expect it to grow leaps and bounds.
thanks |
Robber Baron= Robarons |
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 04/05/2008 : 19:33:17
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COPPERS closing price as of 04/04/08 $3.9856
Copper may only be a base metal that is fairly easy to mine,
but the rising cost of mining ( fuel, electricity , refining and
transportation ) and demand world wide by developing countries
will more than likely keep the price from falling much if at all.
Besides it is not Copper that is rising, it is the purchasing power of the $$ DOLLAR $$ thats shrinking.
Copper as well as other PM's are a good hedge against Inflation .
A healthy mix is the call of the day.
But Pennies at less than half and never less than face are a great
low to no risk investment.
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deleted
192 Posts |
Posted - 04/05/2008 : 19:37:48
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I remember silver coming out of circulation in the late 1960s.
I was just a kid, but I distinctly remember my parents being very interested in removing silver from circulation and I even more distinctly remember that they were sneered at laughed at and made fun of for it.
So my guess is unless we have an outright deflationary spiral of a depression, most people will not care about pennies even at 4 or 5 times face value.
The melt ban will continue for a long time in my opinion and as long as there is a melt ban, most average people will not be interested in pennies.
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/05/2008 : 19:41:55
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quote:
Originally posted by me2
I remember silver coming out of circulation in the late 1960s.
I was just a kid, but I distinctly remember my parents being very interested in removing silver from circulation and I even more distinctly remember that they were sneered at laughed at and made fun of for it.
So my guess is unless we have an outright deflationary spiral of a depression, most people will not care about pennies even at 4 or 5 times face value.
The melt ban will continue for a long time in my opinion and as long as there is a melt ban, most average people will not be interested in pennies.
Fine by 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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deleted
86 Posts |
Posted - 04/05/2008 : 20:00:59
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quote:
Originally posted by Ardent Listener
quote:
Originally posted by Art Tatum
copper will never "take off" my man. there is millions of tons of it to mine everywhere in the World.It's only a base metal and not to forget that!
"It's only a base metal." Thems fighten words around here Art. True, copper is a base metal but it's a base metal that has been used as a monetary metal through out history and it is a base metal that the expanding industrial world's demand continues to exceed mining and refining production. Copper becomes more precious every day.
I'd say you have a better, accurate prediction on copper Ardent Listener. However, if we were to take the assumption that Art was right (higher worldwide production of copper), copper will still increase in terms of dollars due to the fact the dollars will always be in much higher and easier production in terms compared to copper. There will never be a shortage of dollars (unless if all the trees in the world suddenly and mysteriously died off somehow). |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 04/06/2008 : 11:53:17
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The average dude will pull out whatever change happens to be in his pocket. There may or may not be one copper coin. Either way he will say "Why bother?"
It was so when silver was removed form dimes and quarters. A couple of times I heard someone at a laundromat say "Hey, look! I found a silver quarter! Do you know anybody who collects them?" I would give them another quarter for it and mail it to my mother, the only person I knew who collected them. |
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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$4 Copper the tipping point ?
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