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wheeler_dealer
Penny Collector Member
USA
402 Posts |
 Posted - 04/22/2008 : 23:39:03
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Do you think that our habits of buying and holding and sorting cents is causing shortage concerns for the big coin processors?
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/23/2008 : 00:45:16
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| Nah, I only hold back 20%.. I give them back the rest. |
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 - 04/23/2008 : 08:52:12
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I know some people have already started talking about getting boxes of pure zinc, and not even new pennies but old mixed zinc.
Obviously on a local scale too much sorting can skew the amount of copper in circulation.
But as to creating overall penny shortages?
I don't think we are going to see that unless and until the big coin processors themselves start sorting out the copper.
Which hopefully won't be for at least another year or two... |
Sorting In Northwest Mississippi |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/23/2008 : 13:11:27
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| I dont see we'll see an overall shortage of copper pennies, but this hobby is getting more and more exposure every day and it wouldnt surprise me if some industrial level sorting/hoarding started to happen. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 04/23/2008 : 21:34:19
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I read that there are 150 billion copper pennies made from 59 to 82. That works out to less that $5 per person in the US. If another 150 billion were made after 82, than there would be a total of $10 face value per person. It would not be much of a stretch to think that penny shortages could be a reality.
I believe that my #'s are right. Anybody else have some insight? |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 04/23/2008 : 21:54:07
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I don't think anybody cares very much about pennies any more. Stores often have a dish for pennies that nobody wants, and customers are free to grab a few to pay a tab, either because they are short or because they don't want pennies in their change. Parking lots are often strewn with pennies that people received and don't want to carry around.
In the 80s there was a noticeable shortage of pennies. Stores put up signs asking customers to bring pennies. Bars had signs saying "Bring us 100 pennies and we'll give you a free drink." (The regular price of a mixed drink at the time was $1.) The copper shortage was a frequent topic in financial newsletters. It was relieved when the mint turned to zinc to make pennies. The value of the zinc in a penny is now 6/10 cent, so it's fairly certain there will be no shortage of pennies for some time. If there is, stores will do what stores in other countries have done during coin shortages: use candy. |
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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misteroman
Administrator
USA
2565 Posts |
Posted - 04/23/2008 : 21:59:32
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| Welcome back.Where have you been hiding? |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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PennyProspector
Penny Pincher Member
USA
212 Posts |
Posted - 04/24/2008 : 01:23:10
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quote:
Originally posted by HoardCopperByTheTon
Nah, I only hold back 20%.. I give them back the rest.
LOL
If times get tough for them I am willing to sell them some of mine for 5 cents each!!!
(ok maybe even 4 cents each )
PP |
Happy Prospecting! |
Edited by - PennyProspector on 04/24/2008 01:23:51 |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 04/24/2008 : 06:32:24
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| What bugs me is that banks always act like I'm doing something wrong. First they don't want to let me have any pennies, then they don't want me to bring them back either! |
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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Penny Shortages
Forum Locked
