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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 05/11/2008 : 20:31:03
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The hardest part will be acquiring that many pennies a week and then dumping the zinc.
If you are lucky (like me :) ) then you can find a supply bank that will order $1,000 or more in pennies for you at a time. The only problem I've had with this is that twice now I've gotten all or nearly all boxes of new 2008's. Bummer.
Then you need a dump bank that will accept bagged pennies, not necessarily exactly counted (I only do ~$25 per bag to make it easy on the tellers to pick them up) and either count the pennies exactly themselves or send them to the nearest FED bank for an exact count. My bank does the latter and then adjusts my account balance to reflect if I'm over (not likely) or a little under.
Since all the pennies are zinc I get by with weighing out 13.6 lbs (my postal scales only measure in increments of 0.2 lbs), then dropping in pennies until it just turns over 13.8 lbs. Then I take out several until the bag is right under 13.8 lbs.
Since a $25 bag of zinc pennies should weigh right at 13.7 lbs I get it pretty close, and like I said the bank sends the pennies to the FED bank for an exact count. I dump up to $500 a week at one branch and if I ever need to I have another branch about 30 miles away I could also dump at.
Back to acquiring pennies, it depends on how much you want to spend. Like I said buying boxes directly is the easiest but not always the best way. Simply going to as many banks as possible and politely asking to buy their excess pennies usually yields many more customer wrapped rolls and sometimes lose bags. These can be much higher in copper and older pennies than the boxes from commercial companies. Just make sure you aren't getting someone else's zinc dump though!
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Sorting In Northwest Mississippi |
Edited by - WilliamC on 05/11/2008 20:34:09 |
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What would i need?
Forum Locked
Posted - 05/11/2008 : 12:22:04
