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realcent
Forum Admin
USA
246 Posts |
 Posted - 05/12/2006 : 19:48:43
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auction link: You must be logged in to see this link.
This is the first time I have ever seen someone attempting to sell 1959-1982 US cents on ebay specifically as copper bullion. It is a 5 pound bag, opening bid $15, no bids as of this posting. It has less than 20 hours left, so it may not sell, but that doesn't discourage me because anyone who is awake to the fact that copper cents are worth more for their metal weight than face value also knows they can still be had at face value from any retail bank.
I think once most of the copper cents are pulled from circulation we will see many more auctions like this one.
I promise the linked auction is not mine, and I apologize if it belongs to anyone on this forum....
RealCent
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For more copper cent hoarding information check out:
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 05/12/2006 : 19:51:22
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| I think that dude is selling a little early. Doesn't hurt to try I suppose. |
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n/a
deleted
115 Posts |
 Posted - 05/12/2006 : 20:15:13
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I saw one earlier the guy was selling 10 pounds 1500 pennies. Someone actualy won the auction for $15.00 plus the shipping. Not realy a bad deal when you figure what it costs for gas to drive to the bank and then back with your returns. At my current copper to zinc rate I would have to sort through about 2 boxes. I agree that we will see more of these auctions if the price of copper remains high.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/13/2006 : 15:55:20
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The auction linked in the OP is ended now, and it did sell. (I have been watching it, lol)
It went for $15.00 (plus $10 shipping) for a 5 pound bag of pre 1982 copper cents. If I did the math right that comes out to double face value, 2 cents for each penny.
At least now if someone tells you no one will ever pay more for copper cents than face value, you can correct them!
RealCent
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For more copper cent hoarding information check out:
You must be logged in to see this link. |
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n/a
deleted
115 Posts |
Posted - 05/13/2006 : 16:26:59
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This makes me think about selling the ones I have sorted out. I have about 50 lbs worth that I could put up for auction. I could take the money and split it between more pennies and silver rounds.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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n/a
deleted
13 Posts |
Posted - 05/13/2006 : 23:43:51
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Listing fee: $0.60
Selling fee: $0.79
Paypal fee: $1.03
Shipping 5 pounds: $8.10
900 pennies: $9.00
Total cost: $19.52
Total revenue: $25.00
Net profit: $5.48
net value per coin to seller: 1.00609
net profit per coin: .00609
net profit per $25 box (assuming 30% coppers): $4.57
Nah, I'd rather hold for a while. I'm spending way too much time for a $.00609 profit!
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In the land of the blind, the one-eyed man is King! |
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copper pennies sold as bullion on ebay auction
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