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b256
Penny Sorter Member
34 Posts |
 Posted - 07/01/2008 : 19:32:34
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The copper percentage in my area, out of common change, is abysmal (under 20%). I wonder if folks around here are just throwing their change in jars indefinitely, not turning them it, which is resulting in more modern coinage to be drawn in to the local bank system and circulation out of necessity. Now, I don't know how locally "common change" stays when it is turned in and reprocessed by Brinks or whoever, but it has me wondering. In depressed areas of the country, are folks more likely to turn in old (copper rich) change more often to generate cash? Those of you who report 30+ % copper have me amazed. It sure ain't the case around here (for whatever reason). Any thoughts? Any big time hoarder-processors in the North-West Connecticut area who want to fess up?
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 07/01/2008 : 20:41:03
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See, i would actually expect the opposite to be true... they haven't minted a copper cent in 25 years now, so i'd think that in poor areas, most of the penny jars have been cashed in multiple times by now.
My area isn't particularly wealthy, but my copper percentages are just awful... the only times i've even hit 20% are when i've lucked onto some customer rolls that were obviously penny-jar returns. |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 07/01/2008 : 20:42:42
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| I'm hardly big time, but here in FL I've noticed the % going up on CWR. I attribute it to more people rolling up their pennies and turning them in for gas. In fact, I got a few rolls from the bank the other day with someones name and address on them. I remember doing this when I would use pennies to buy gas and food! |
Are you throwing that out? |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 07/02/2008 : 18:50:42
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I haven't noticed any real difference with the CWR's. Other than the lack of wheats the percentages have been the same including the quantity and Cu ratio of the Canadians.
So far I have also not seen a difference between the more affluent and less affluent areas.
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/02/2008 : 18:54:18
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| I personally don't think there's any correlation. My advice to you would be to try some other banks / branches. As Hoard says, "If your percentages are low, sort more". Well, that's only half of it. He says to sort more if your percentages are high too. Hah. |
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n/a
deleted
15 Posts |
Posted - 07/02/2008 : 19:17:41
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| I think the key word for Cu % is LOCATION. Here in Wash,DC it is right about 21 or 22%, cwr or bank rolls being about equal, down from 23 or 24% a year or so ago. However, in West Virginia, a depressed economy, it's more like 28 or 29%. Anyone care to guess why? |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 07/02/2008 : 19:39:37
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| I haven't really looked much at pennies, but I have found that for Canadian nickels, there is a correlation between demographics and good results. The best areas generally are older neighbourhoods with a lot of single-family homes and a known typical residence time of 20+ years (most people have lived in the same home for 20 years. But the local commerce plays a role too. The best areas for coaxing old coins out of jars have a lot of walk-up store fronts. Once the big box stores move in the area becomes flooded in new coin (in Canada that means steel). I have actually seen this at some of the branches where I have been gathering nickels for awhile. |
Not all who wander are lost. |
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Gr33nday43
New Member
Uzbekistan
10 Posts |
Posted - 07/03/2008 : 00:27:56
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quote:
Originally posted by mickeyman
I haven't really looked much at pennies, but I have found that for Canadian nickels, there is a correlation between demographics and good results. The best areas generally are older neighbourhoods with a lot of single-family homes and a known typical residence time of 20+ years (most people have lived in the same home for 20 years. But the local commerce plays a role too. The best areas for coaxing old coins out of jars have a lot of walk-up store fronts. Once the big box stores move in the area becomes flooded in new coin (in Canada that means steel). I have actually seen this at some of the branches where I have been gathering nickels for awhile.
Yes, I definitely agree, my area is just how you described and I get about 27%-44% copper rate! |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/03/2008 : 08:12:00
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| I would say I'm at a solid 24-28 % here on the Central East Coast. |
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fb101
Administrator
USA
2856 Posts |
Posted - 07/03/2008 : 09:09:17
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| I second JPF231, although some banks in general seem to have a better percentage than others. I thought I would get significantly better percentages of CU from banks which feature coinstars, but that hasn't always proven out. I do think I get a higher % of wheats from banks with coinstars. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 07/03/2008 : 13:55:19
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| You can only look at Customer Wrapped Rolls (CRW) as all others are shipped in. I observe a higher percentage of copper in financial institutions that are in less affluent neighborhoods. |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 07/03/2008 : 20:12:23
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| Try more rural areas. Less people, less turnover of coinage. |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 07/04/2008 : 23:17:34
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| The wealthier and the poorer areas of town are the best in my area! The wealthy dont seem to keep them around, because pennies are "worthless". The poor cant afford to. |
"99% of all lawyers give the rest of them a bad name" 
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Is copper % lower in affluent areas?
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