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hector6man
Penny Pincher Member
USA
129 Posts |
 Posted - 04/20/2008 : 20:50:05
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I mean we look at zinc like how people use to look at copper in the past, worthless. Wont copper become to expensive, that we will have to you zinc as a sub for copper in the future?
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"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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penniesmakemedizzy
Penny Pincher Member
USA
135 Posts |
Posted - 04/20/2008 : 21:35:45
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| right now i hoard the uncirculated boxes i get at banks every once in a while |
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topeka
Penny Pincher Member
160 Posts |
Posted - 04/20/2008 : 21:59:57
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| Correct me if my numbers are wrong. The way I read the charts a zinc cent melt value is 60% of face value today. A copper cent melt value was at 60% about four years ago. If prices continue to rise we may be saving zinc in four years like we are hoarding copper today? |
Silver..poor mans gold
Copper..peasant silver |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/21/2008 : 06:29:07
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Once the copper has dried up, who knows what is next. IF the penny is still being produced, then zinc would be a possible play.
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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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 04/21/2008 : 07:52:12
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Should I hoard zinc pennies?
Here is how I look at. Gold, silver, copper, and zinc all should give you some level of inflation protection. How closely they will mirror inflation or how far they will diverge from it is highly debatable. For the sake of argument assume for a minute that all four of them will perfectly mirror inflation in the years ahead and that the inflation rate is 15%.
In order from best to worst performance under these imaginary conditions:
$1000 dollars put into copper pennies at what is currently a 60% discount to spot price becomes $4372 after 4 years and you have a 150% increase in purchasing power.
$1000 dollars put into gold at spot price becomes $1749 after 4 years and you have the same purchasing power as 4 years ago.
$1000 dollars put into silver at spot price becomes $1749 after 4 years and you have the same purchasing power.
$1000 dollars put into a bank CD making 5% becomes $1215 after 4 years and you have a 30.5% decrease in purchasing power.
$1000 dollars put into zinc pennies at what is currently a 67% premium to spot price becomes $1049 after 4 years and you have a 40% decrease in purchasing power.
So IMHO don't hoard zinc pennies...at least not yet. Now if you can find a source of zinc at close to spot price then that would be worth considering as a way to diversify your hoard. Although, storage space might become an issue. |
Edited by - horgad on 04/21/2008 07:54:49 |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 04/21/2008 : 23:04:49
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| A zinc penny is currently worth .58 cent. That means you are paying a 72% premium to hoard it. You are better off to spend that penny on something that is currently worth a penny, or more. |
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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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 04/22/2008 : 00:05:49
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I hoard dung!
cow dung!
The fertilizer market is really hot! and steamy! |
my machine is running! |
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 04/22/2008 : 19:28:37
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| I have no use for zinc other than BU rolls. Even then, they'd be the first to go away if I needed some fast cash. Many really don't last long in circulation (at least in an acceptable condition). As long as I'm still able to swap one zinc for one copper, I don't plan to change my hoarding focus. |
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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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/22/2008 : 19:39:39
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I agree with Know_Common_Cents.. as long as I can swap a zinc for a copper I will.
I think Art_Tatum may be ahead of the curve.. he is already hoarding the material the mint will start making pennies out of when they abandon zinc.. now that's forward thinking. |
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 - 04/23/2008 : 14:07:36
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| What Saul said. |
Trust the government? Ask an Indian. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/23/2008 : 17:33:35
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| I'm going to hoard all my zincers. I'm not about to haul zinc pennies back to the bank and then turn around and ask for them again in two years. |
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Think positive. |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 04/23/2008 : 22:20:10
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quote:
Originally posted by Ardent Listener
I'm going to hoard all my zincers. I'm not about to haul zinc pennies back to the bank and then turn around and ask for them again in two years.
That's the way I look at it. It makes no sense to haul a penny to the bank if there is any chance you'll have to haul it back and sort it again. Just leave it at home and it'll be worth as much as a penny drawing interest in a savings account. I'll change my mind when the floor breaks under the weight. |
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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Why not hoard zinc for the future?
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