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Nickelless
Administrator
USA
5580 Posts |
 Posted - 06/27/2008 : 22:30:11
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Now that I'm into serious sorting, trying to average about $900 a week and averaging **knock on wood** 30-35 percent copper, I think I can afford to hoard at least a few coppers (I'm thinking maybe 50 lbs.) a week to diversify. But I got to thinking, given that zinc would have to double in price for us to break even on post-'82s, is there any reason at this point to save zincs? Or should we just wait to see if the mint changes the composition again to steel before we start hoarding zincs as well?
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misteroman
Administrator
USA
2565 Posts |
Posted - 06/27/2008 : 22:47:20
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| Take them back unless you have unlimited funds and in that case buy Silver.I do hoard all the 08's I get |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Nickelless
Administrator
USA
5580 Posts |
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fiatboy
Administrator
912 Posts |
Posted - 06/27/2008 : 23:28:44
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| When I get rolls of uncirculated, BU zincs, I keep them. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 06/27/2008 : 23:41:10
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| I keep really nice ones with an idea of perhaps selling a few sets to collectors. |
Are you throwing that out? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/28/2008 : 01:02:33
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I've got boxes and boxes of mint fresh coin now. Mostly wrapped in "condoms" but the last two days ended up with the first fancy paper mint rolls I've seen. Got a block of 2007 Mint roll pennies at one bank and a 2007 block of similar nickels at another. Way nicer then the plastic covered rolls for looks.
And I've got two bins of zinc now seperated. Ryedale can sort the US from the Cdn zincs. I plan to roll and sell the US zinc for spendable bills or maybe 1/2s one of these days. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
Edited by - jadedragon on 06/28/2008 01:05:29 |
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Nickelless
Administrator
USA
5580 Posts |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 06/28/2008 : 06:52:22
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quote:
Originally posted by misteroman
Take them back unless you have unlimited funds and in that case buy Silver.I do hoard all the 08's I get
why do you keep 2008--is there something special or are you keeping them just because they are BU? |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 06/30/2008 : 12:35:08
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i know there are folks here with a lot more metallurgy knowledge than i, so perhaps i'll be corrected, but i believe that zinc pennies are not really going to be a worthwhile hoard for their base metal value due to the difficulty in separating the zinc and bringing it up to a marketable purity. You can melt the 95% CU/5% Zn coins and effectively burn off the zinc , but stripping the Cu shell and recovering the Zn core on a post-82 is not economically feasible at anything even close to the current market value of Zn.
At 30-35%, i'd just be churning the zincs back into new boxes as fast as i could, because it seems like more and more of us (especially in the Southeast) have been seeing percentages in the single-digits lately... |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/01/2008 : 03:30:54
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quote:
Originally posted by Lemon Thrower
quote:
Originally posted by misteroman
Take them back unless you have unlimited funds and in that case buy Silver.I do hoard all the 08's I get
why do you keep 2008--is there something special or are you keeping them just because they are BU?
Guessing he is refering to new BU coins as 2008's - likely in full rolls since they are not "uncirculated" when you find them in the mix. I still get lots of 2007 pennies and nickels in BC. Must be a big stash somewhere I'm tapping. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 07/01/2008 : 20:53:44
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| '08s could have some numismatic value as the design is changing next year. Some BU rolls put back might be worth a little one day. |
Are you throwing that out? |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 07/01/2008 : 21:11:15
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| They say that we could run out of zinc in 46 years. So they ought to continue to increase in value. I'm holding on to several thousand dollars worth of them mixed in with copper cents. |
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Think positive. |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/06/2008 : 09:41:49
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| nah - no way - dump the zinc and get more copper!! |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 07/06/2008 : 10:59:43
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It is, in my opinion, better to have pennies even zinc or nickles as opposed to digits in the bank or paper in excess of the suggested three to six month emergency fund. The government makes profit when they print and circulate paper. At some point (possibly in the next decade) we may see the composition of the penny and nickel change or even disappear completely as continued world changes force realignment of world powers.
When the euro was adapted into circulation all previous currencies were forced to adapt to the new currency and baseless metal coin. This may be in our future. Copper and zinc pennies can substitute as an emergency fund however should you hold zincs it may be best to keep them in convertible form(rolled for simple conversion). |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/06/2008 : 14:10:15
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quote:
Originally posted by wheeler_dealer
It is, in my opinion, better to have pennies even zinc or nickles as opposed to digits in the bank or paper in excess of the suggested three to six month emergency fund. . . .
Copper and zinc pennies can substitute as an emergency fund however should you hold zincs it may be best to keep them in convertible form(rolled for simple conversion).
I absolutely agree that even zinc pennies are better than FRN's of electronic digits...but, even so, I agree with the others that you would be better off using the zincs for something else at this point in time. |
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Anyone hoarding zincs?
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