| Author |
 Topic  |
|
n/a
deleted
42 Posts |
 Posted - 07/28/2008 : 22:54:01
|
Does Brinks take the copper coins out of circulation when they get them?
I hand sorted 3 25 dollar brinks boxes today, and I got like 10% copper, and if it wasn't for one of the boxes being half full of CWR my % woulda probbably have been like 5.
Anyway to avoid getting the plastic wrapped rolls when getting big orders? I just hate the idea of having to go to like 10 banks asking for 10 dollars in pennies at each one to get CWR.
O and thanks in advance for answering this question and the ones in my other posts, I'm pretty new to the copper hoarding, and all you people on this forum have been very helpful.
|
Bobby Deese |
|
|
n/a
deleted
18 Posts |
Posted - 07/29/2008 : 00:22:08
|
| I don't know the answer to your question, but agree that plastic-wrapped coin tends to be skunk. My first skunk was plastic-wrapped. There is, no doubt in my mind, a coordinated effort by bigger boys than us to remove copper pennies from circulation. One has only to look at Canada's alloy recovery program. Since the world is so standardized it stands to reason that every country with copper coin has similiar programs in place. We know the world is standardized because we see it in our foreign coins. While the cutoff-years vary, every nation has undergone a gradual changing of their coin from medicine (copper, silver, gold) to poison (zinc). Keep the faith. |
www.cuttingthroughthematrix.com --- Clearing the rubbish from the road to reality. |
 |
|
|
NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 07/29/2008 : 06:15:05
|
Brinks boxes around here usually contain average copper percentages and even more wheats....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
|
|
|
fb101
Administrator
USA
2856 Posts |
Posted - 07/29/2008 : 06:55:25
|
| May be something in your area or may be some temporary thing. My Brinks plastic wrappers in Phila/Wilmington area are 20-30% copper and pretty good with wheats. How many times have you encountered the same thing? Are you possibly in the same area as a ryedale owner? |
 |
|
|
|
jorhyne
Penny Pincher Member
174 Posts |
Posted - 07/29/2008 : 07:41:35
|
quote:
Originally posted by fb101
May be something in your area or may be some temporary thing. My Brinks plastic wrappers in Phila/Wilmington area are 20-30% copper and pretty good with wheats. How many times have you encountered the same thing? Are you possibly in the same area as a ryedale owner?
I have the same experiences with Brinks boxes, always around 25% or better. But I don't think one ryedale owner in their area would effect the entire brinks supply for that city. I know of at least two others near me and it hasn't effected my percentages at all. |
Pennies For Sale: http://tiny.cc/jorhynespennies |
|
|
|
Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 07/29/2008 : 09:31:19
|
Brinks has been good to me. Never been skunked with them, I can't say that with CWI or CWR's. Cu percentages are as good as they come for my area. I've gotten the most wheats and my last 2 IH's with Brinks.
|
|
|
|
n/a
deleted
6 Posts |
Posted - 07/31/2008 : 08:50:49
|
Feast & famine for me.
I've encountered several Brinks skunk boxes in my area....then again, I've also had three of those same Brinks boxes yield more than 75% also. |
|
|
|
TXTim
Penny Hoarding Member
629 Posts |
Posted - 07/31/2008 : 21:40:26
|
| I average 33% skunks on Brinks and CWI boxes that have assorted zincs. |
Beer is my currency. |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 07/31/2008 : 21:51:22
|
Skunks happen. Worst for me was 24 brinks boxes in 1 pickup that were all duds. That is a little more painful than 2 or 3 boxes. But you know what? Next week things at that branch were back to normal. You just have to keep plugging away. One suggestion.. a good scale that you can weigh the entire box on will eliminate skunk boxes without even breaking the seal.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
|
|
|
wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 08/01/2008 : 12:53:54
|
Hi all,
I can't complain- I get Brinks boxes, and aside from the occasional UGLY penny, They're right on with about 25% Cu and 10-15 wheats. |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
|
|
|
c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/04/2008 : 12:31:01
|
UPDATE - HOT NEWS!!!!!
This is a post from Goldismoney.info a PM forum.....there is a big time copper guy that was in the copper sorting biz prior to the govt ban.....he has some insight as to why Brinks boxes offer so many skunks. This was posted Monday 8-4-08 at about 1:00PM:
Quote:
Originally Posted by Mined Games
But someone is doing some large scale sorting around here.
I got a call on July 3rd from the coin manager at the Denver Brinks location. He said, "I've got $80,000 in COPPER pennies sitting on the dock, and I was wondering if you wanted to buy them."
Short version: Brinks has upgraded their equipment nationally and has started to sort out all the copper pennies from the coins which they process on behalf of Coinstar. Coinstar sees a future market to resell these for a profit while at the same time cutting back on the amount of coins that they have to deposit with the bank (and therefore incur banking fees).
After a couple weeks of phone calls I ended up speaking for some time with the Chief Counsel at the US Mint. Basically, the ban on melting/export is still firmly in place. Despite rumors that Jackson Metals in Ohio was purchasing these coins from Coinstar and melting them under "special permit" from the US Mint, I was assured that all applications for special permit have been declined. The mint's chief attorney told me that the ban on melting/export/"treating" would continue until the following two conditions were met:
1. The US Congress grants approval for the mint to make cents and nickels out of an alloy of their choosing (They favor a bill introduced in the Senate recently by Wayne Allard -- #1986 if I remember correctly).
2. They MUST be able to make a penny for less than $0.01. Even if they switch alloys they are not convinced - given the current inflationary environment - that another alloy would bring the cost to under $0.01.
If both of these conditions were met they would lift the ban as soon as they were producing the new alloyed coins.
I probably shouldn't be sharing so many trade secrets, but as far as I can tell it is game over for my company, Pincher Processing, because Brinks, by upgrading their equipment, just cut me out of the chain.
BTW... coinstar is currently sorting out 3,000,000 copper cents PER DAY (5 days/week) in conjunction with Brinks nationally.
One more thing: The reason they wanted to sell me that $80,000 stack of copper cents is because their (Coinstar's) inventory is getting too large while waiting for the ban to be lifted. They wanted me to tie up capital in the waiting game. Coinstar does not "deposit" the copper cents, but they are held by Brinks as "inventory" on their balance sheet.
__________________
|
|
|
|
horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 08/04/2008 : 13:57:46
|
It just goes to show you that when/if conditions become right to legally melt copper pennies for a profit, they will disappear so fast out of circulation that it will make your head spin.  |
|
|
|
Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 08/04/2008 : 14:11:53
|
Reading that makes me bearish on copper pennies. Not only can a large company sort all the copper out of cirulation, they can easliy dump them on to the copper market. So you could be sorting harder to find copper along with low copper prices in the short term (which looks like 3-5 years until they legalize melting and the effects of doing that on the copper market afterward).
Still CWR and NF string paper rolls are still okay for the time being. I believe it was Horgad who said hoard the heavy boxes for later as the current ones and going into the future will be lighter. |
Robber Baron= Robarons |
|
|
|
WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 08/04/2008 : 14:41:53
|
So Brinks and Coinstar are starting to sort the copper eh?
It was only a matter of time :(
|
Sorting In Northwest Mississippi |
|
|
|
jpf231
Penny Collector Member
USA
340 Posts |
Posted - 08/04/2008 : 15:00:32
|
| At that current pace of Brinks/Coinstar sorting 3M cents per day, when will they be gone? How many coppers are currently in circulation? I know Andy mentioned the number, but I forget ... |
|
|
|
PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 08/04/2008 : 15:05:40
|
Figured something like that was happening... my rate on plastic-wrapped boxes was so bad that i've stopped buying them altogether... had to open a new account to get some paper rolls.
It doesn't make me bearish at all... i figure the big boys will hit the market hard and fast, and cause a short-term dip when the ban is lifted... After that dip, copper will be back on the climb.
About the only thing that would make me think that hoarding is a dead-end would be the announcement that someone had come up with a cheap aluminum alloy that beat copper for conductivity... |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
|
|
|
Copper Catcher
Administrator
USA
2092 Posts |
Posted - 08/04/2008 : 15:05:46
|
So far The House Passes Steel Penny Bill (H.R. 5512) Coin Modernization and Taxpayer Savings Act of 2008
You must be logged in to see this link.
2/28/2008--Introduced.
Coin Modernization and Taxpayer Savings Act of 2008 - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy in the one-cent coin.
Extends such authority to, and requires the Secretary to prescribe the weight and composition of, the dollar, half-dollar, quarter-dollar, dime, and five-cent coin, as well as the one-cent coin.
Requires the coins to be coined, minted, and their materials fabricated in the United States.
Requires the Secretary to enter into a formal rulemaking process when making any determination with respect to any change in the weight and composition of any coin.
Repeals current weight requirements for the half-dollar, quarter-dollar, dime, five-cent coin, and the one-cent coin.
Specifies the characteristics of $1 coins and gold coins.
Authorizes the Secretary to prescribe manufacturing tolerances for five-cent and one-cent coins.
Requires, for a specified period, the one-cent coin (except for Lincoln Bicentennial Numismatic Pennies) to be produced primarily of steel and treated to impart a copper color to its appearance similar to one-cent coins produced of a copper-zinc alloy.
So the Senate has not acted on this but they will!
You must be logged in to see this link.
According to You must be logged in to see this link. "Since its beginning, the U.S. Mint has produced over 288.7 billion pennies. Lined up edge to edge, these pennies would circle the earth 137 times. (Figures are est.)"
Current production figures for the last three years can be found here:
You must be logged in to see this link.
In the post of c140cessna I could not fine the company listed and it makes no sense why a company would sort then dump $80,000 in coins.
That is not a lot of money for someone like Coinstar....
|
|
|
|
TXTim
Penny Hoarding Member
629 Posts |
Posted - 08/04/2008 : 16:37:28
|
The Coinstar & Brinks collaberation makes a lot of sense on accounting for skunks around here.
I wonder if my local Brinks would sell me $80,000 in copper pennies for face value??? |
Beer is my currency. |
|
|
|
Copper Catcher
Administrator
USA
2092 Posts |
Posted - 08/04/2008 : 19:01:39
|
| I reported a long time ago that all the Brink boxes I get i.e. in NC are all zinc....I am happy that some are still getting copper but for how long is any ones guess? |
|
|
|
JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 08/04/2008 : 19:18:29
|
| With this kind of information, we probably should start hitting as many banks as possible for copper, maybe even enlisting friends and family if they can lend a hand. I still can not get my wife to go into a bank and ask for a $25 box of pennies. She thinks it is too weird. I've cooked up a lot of hair-brained schemes while being with her, but this coin search seems too credible to ignore. The return on the metal content itself makes it worth holding onto the copper pennies for a few years as long as copper prices stay where they are at. |
|
|
|
Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 08/04/2008 : 21:10:36
|
The question is how much money Coinstar will tie up in copper penny inventory. They will be hurt by a continuing melt ban. Who are they going to sell the coins to while the melt ban is in place?
I'm still getting 25-30% here in Indy. You need to load up on Brinks boxes while they still have copper in them. Sort them at another time. I have about 50 unopened Brinks boxes at my home. Picking up 10 more tomorrow. |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/04/2008 : 21:26:38
|
Glad they didn't offer that $80K to me. I'd be hustling to try to scrape up the money. Maybe one of our Denver members will start getting some great rolls if this catch and release program comes to fruition. This might explain some of the occasional serious skunkings some of us have experienced around the country lately. The 80K was just excess inventory. It is hard for even a big company to set back $30K every day in excess inventory with no clear markets or disposal plan. As many members of this board have experienced, there are capital limitations. You can only afford to tie up so much capital. When you run out of capital you either have to liquidate some of your inventory or in the absense of any market you might just have to dump it like Coinstar. With a melting ban in place and a very thin market you just can't move that much product.. as the big boys are finding out. And any individual or company can only hold so much for so long. LONG LIVE THE MELT BAN!!!
On a positive note.. I sorted 16 Brinks boxes last night from that same bank that gave me the massive skunking before. Got 7982 Coppers.. right at 20%.. the standard percentage for my area.. and 14 darn dimes (so much for that fancy new equipment Brinks is using) |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
|
|
|
TXTim
Penny Hoarding Member
629 Posts |
Posted - 08/04/2008 : 21:31:59
|
Here's another thought- if Brinks doesn't want to inventory all that copper, we may start seeing 100% copper boxes!
I also forgot to post that I see CWI mixed zinc skunks along with the Brinks skunks - maybe they also have a deal with Coinstar. |
Beer is my currency. |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/04/2008 : 21:47:07
|
| That's kind of what I was thinking. If could be feast or famine on the Brinks boxes. This is where a good scale will really come in handy. Just pop the box on the scale and you will know right away if you caught a copper whopper or zincer sinker that you just have to throw back. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
|
|
|
scooter
Penny Pincher Member
240 Posts |
Posted - 08/04/2008 : 23:18:27
|
| i got plenty of uncirculated wheats last week from brinks |
|
|
|
JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 08/05/2008 : 00:26:11
|
| Yeah, I was thinking about wheats. If they are pulling all the copper, do you think they have any interest in sorting for wheats or will all the copper coins just go into a melt? If they melt all, then we may see wheats be valued much more. |
|
|
|
Topic |
|
Brinks Boxes and Plastic Wrappers
Forum Locked
