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 Posted - 10/20/2006 : 02:21:07
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10,000, while only $100 face value, I've discovered takes a long time to accomeulate. Much longer than I anticipated. I've been buying $25 boxes off and on for the past year or so ... and I still have not reached my initial goal of 10,000. I'm getting close. I usually find between 375-450 pre-1981 cents per box. It's a slow road. How much is enough? Anyone accomeulated 50,000 or more?
-MC
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Posted - 10/20/2006 : 22:28:19
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I'm not sure I understand or there is a typo in your comment.
10,000 pennies is $100.00 but if you've been buying $25 boxes for the past year or so, people typically are finding between 20-30% copper, which would require 50,000 pennies maximally or $500.00 worth to find 10,000 copper, or minimally $333.33 (we'll round to $300.25). That's 13 to 20 boxes (unless you are getting a lot of boxes full of all new pennies). If you take the middle of the average of the 20-30% you shold average 25%, so $400.00 or 16 boxes or about once every three weeks. Doesn't seem insurmountable in a year but I guess if you're manually sorting them you have to be dedicated. Accomeulating that many shouldn't be hard, but actually having them counted is another story. I started doing $5/week or so and have about a half gallon jar full of coppers. I have 2, $25 boxes I haven't even bothed to open, so if the problem is actually manually sorting I can sympathize there.
Ooops, sorry....upon reading your post again before clicking "Post New Reply", you say you only find 375-450 pre-1981 per $25 box? For one you can keep all the 1981's and some of the 1982's are copper (if you decide to be thorough enough to test them, I just set the 1982's in a seperate container). Something is wrong where you live your max stated finding per box is 450 and there are 2500 in a box. You're only getting between 15% and 18% as copper? That is way below the norm and I doubt tossing 1981's skews it that much. Maybe you live in the penny hoarding capital of the world! |
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Posted - 10/21/2006 : 03:07:57
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| My mistake ... I keep the 1981s ... I meant 1981 AND before. Yes, I must be living in the penny hording capital of the world, or maybe it's just my bank ... BofA on Los Angeles, CA. My averages aren't even close to what everyone else is getting. I've torn through some rolls that had only 2-3 copper cents ... the rest zinc. I rarely find 10 in a roll ... and if I find 12-15 ... its a damn miracle. |
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Posted - 10/21/2006 : 07:24:45
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Wow, if I get less than 10/50 I'm shocked and when you get 10/50 it's a miracle. Maybe the movie stars out there hired a bunch or kids to go through rolls of pennies a couple years ago or some venture capitalist funded a company to start doing it  . I'm out in Indiana, I can get $5/wk out of the credit union where I work, that other people have manually rolled and turned in. Those are usually around 33% and I mark all the rolls I've looked at so the when the lady goes into the vault she gives me one I'm quaranteed to have never seen it (unless some idiot gets one of my rolls and rerolls it in a new package I haven't marked...never happened yet though).
Can't really speak for the $25 boxes, have a couple but didn't sort through them, they're in clear plastic sleeves and a high enough percentage of them had the older brownish look to them from a side view that I'm confident 20%+ should be no problem.
People around here (this forum, not Indiana) have been finding 1 in 200 or 1 in 250, somewhere in that range, are wheat pennies. I'm going to guess you don't find many of them either. |
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The Long Road to 10,000
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