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11 Posts |
 Posted - 08/22/2008 : 21:28:40
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I have recently stumbled upon the copper penny hoarding scene as recently as..... 8 hrs ago. I find the fact that it is risk free to hoard copper pennies very intriguing. Upon stumbling on this I knew I was late to the party however I was still interested in hoarding some for future value and the thrill of the finds along the way. I immediatley went to a local BB&T and got 10 dollars worth of pennies. I searched the first 8 rolls and found zero pre 82 pennies. So I didnt search the rest. I went to the cash drawer at my store and found about 25% of the pennies in there to be copper and I hit up a few gas stations for a couple bucks worth of rolls and got about 20%. So I got to thinking and started researching and now I am here. I have read a few posts on here about Brinks and Coinstar hoarding copper as well. Is this a rumor or has it been confirmed by anyone. Was I just unlucky or what? Also I read a couple of posts that mentioned NC and them getting skunked as well. Is anyone else hoarding in Wilson, NC as I dont want to use their dump bank as my pickup bank. I just would like to know that copper is still to be had in plentiful enough volume around here before pursuing this any further....
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 08/22/2008 : 21:48:25
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Welcome ! Skunk (not finding what you are seeking) happens. You may have found someone's dump rolls, or perhaps just someone rolled up a bunch of newer coin from a cash register. Over time expect between 15-30%, and for those of us in Canada 50% Cu.
Definately not too late for the party... some claim Cu %ages are going up as people dump wheat collections and penny jars to buy gas or pay bills. I've gotten plenty of poor yield rolls, and I've been handed solid rolls of copper pennies too. People try hoarding a few, before spending them, or they were saving old pennies until a coin dealer told them no special value. I've also got a few boxes of brand new minty fresh coin, that have some collector value. Regularly find international coins (which is a cheap way to build your collection at a penny a coin). Some even find 100+ year old pennies.
This is a very small group of people in a BIG sea of pennies. Check out the ebay auctions for copper pennies, check out threads here, check out coinflation.com and have fun. Off to shuck some rolls and find a contest prize to mail. |
“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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fb101
Administrator
USA
2856 Posts |
Posted - 08/22/2008 : 22:06:19
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I'm curious about how you stumbled on it. In the meantime, you're far from too late. Many of us pickup $25 boxes and work from those. I pick through about 6 boxes a week. I get 20-30% copper.
Welcome aboard! |
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11 Posts |
Posted - 08/22/2008 : 22:25:23
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| I stumbled on it because I just was sitting at work watching oil fall today and thought about an article I read where it cost more to mint a penny then the monetary value it holds and I thought about the value of the metal and started researching it from there. And just like anything else if you think of somthing it is guranteed someone has thought of it before and here I am, ready to hoard some copper because there really isnt any investment risk involved. Worst case is that you cash out for face value. I dont have the capital to set aside barrells and barrells of coins however I would like to get a couple of thousand dollars worth set aside as investment. Any ideas on the a cheap sorter other then by hand and other then the several hundered dollar RYEDELL? |
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 08/22/2008 : 22:46:23
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Good Logic!
Where else can you buy something at half price at zero risk?
The answer to all of your questions is quantity.
The more you buy, the more copper you'll find and...
a 1 cent hoard is not much but a 10,000 cent hoard is getting somewhere.
Along the way you'll score some older, more valuable wheats, errors and IH's (allegedly), which should reap you a 300 to 1000 percent profit per coin.
You will encounter skunks but you might find a small gold mine in the form of wheats!
As a strategic investment you might find out that things can get tedious, fast, and not the right way to view this quest.
Approach it as a hobby like treasure hunting and the fun will morph into an addiction.
Welcome aboard! |
Beer is my currency. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/22/2008 : 23:00:09
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Welcome to the forum crg0910.
Good news! There is still copper out there waiting to be sorted.
More good news! You are on the opposite coast from me, so you don't have to worry about my zinc dumps. 
Many members here have tried to develop their own sorters and in just about every case they eventually bought a Ryedale. If is an extremely well built machine that is worth every penny. If you are going to hoard 2/3rds of a ton it would certainly make sense. It makes your sorting time and your capital turnover much faster.
The beauty of this hobby though is that you can participate at any level. The way I started out was with a small digital scale. I could sort much faster with the scale than eyeballing each penny. And scales are very inexpensive.
The other things you need to consider before becoming a serious hoarder are acquisition of raw pennies and disposition of zincs. There is a wealth of knowledge here on this site from the other members sharing their experiences in dealing with these issues.
Looking forward to seeing more posts from you. Happy Hoarding! |
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. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 08/23/2008 : 08:17:11
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lots of wisdom in the old posts here.
coinstar, brinks etc. for the most part don't take out the valuable coins except maybe in Canada.
copper - copper is said to be the metal with a Phd. thats because its price forecasts recessions. its a leading indicator of industrial demand. medium and long term its value should go up as more electric transmission wires are built in the 3rd world, and rising middle classes in asia buy things with electric motors, and as the world shifts to hybrid and electric cars. plus, it should hedge against u.s. monetary debasement.
put away $x a week and 5 or 10 years from now you will be sitting prety. others have found ways to profit more immediately but its a bit more work. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 08/23/2008 : 08:59:11
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| Welcome crg0910 I’m just down the road from you in “GVegas”! If you are heading my way let me know and I'll buy you lunch! Don't fret or think you are too late to the party. I only started out in late January of this year and while I get skunked on occasion, as you saw, there is still plenty of copper left to find. I have decided that it is really just a numbers game and your willingness to invest the time and energy and of course money. I think in NC our percentages seem a lower and for me at least the Brinks boxes are very unkind so I avoid them all together. However, if you go to Bank of America they have a different group that carries their coin and at this point it does not seem to be pre sorted. Also make sure and ask tellers for any customer rolled coin that may have been brought in. There is so much to learn by reading the post on the board! Lots of great knowledge and wisdom from both the young and old among us! |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 08/23/2008 : 11:13:06
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| Welcome Crg0910, You are not too late. I started in February and have quite a pile stacked up. But I would suggest if you want to be serious about piling up copper that you get yourself a Ryedale. Yes it costs a little but you can sort so much more, and get to your goal quicker, before it is too late. Not spend so much time doing it so your wife doesn't get mad about your new hobby. And the Ryedales hold their value so well you probably would get close to what you paid for it if you wanted to sell it after you reach your goal. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/23/2008 : 13:23:09
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| I thought I got started too late too. I also have a nice little pile stacked up. What NDFARMER says is correct. Some members here have bought a Ryedale, sorted enough copper to reach their goal, and then sold the machine for close to what they paid for it. |
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. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/23/2008 : 15:19:28
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First off, welcome. Definately buy a Ryedale. Mine isn't used everyday, but when I have time to sort it sure zips through them. Your not too late as there is still plenty of copper to go around. Get one! Have fun and post often.
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 |
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deleted
11 Posts |
Posted - 08/23/2008 : 22:37:09
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| Does anyone have an extra ryedale or getting rid of theirs? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 08/24/2008 : 01:15:45
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quote:
Originally posted by crg0910
Does anyone have an extra ryedale or getting rid of theirs?
They do come up from time to time. Sell for near full price though. Try posting a "want a Ryedale" post in the buy sell trade section. Of course, you could just order one and experiance Andy's great service first hand. Mine has already appreciated in value. |
“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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Mike
Penny Sorter Member
USA
65 Posts |
Posted - 08/24/2008 : 10:07:55
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Welcome aboard!
I've been sorting between $25 to $35 a week by hand now for about 6 months, and am about to seal up my 4th box of copper pennies (total of $100 copper pennies). I haven't found any Indian Head Cents yet, but average about 20% copper, and 0.5% wheat.
I've been buying rolls of pennies from six different banks. Customer Wrapped Rolls (CWR) always seem to average 20 - 30% copper. The big variation is in the machine wrapped rolls. Two of the local Bank of America branches almost always have shiney new rolls of zinc slugs, but there are two local independent banks that have never given me a roll of freshly minted zinc, and instead their machine wrapped rolls easily average 20%+ copper.
My point is there is a big variation in percentages between different banks. If you get skunked two or three times from one bank, try a different one. And I have never had any problem with a bank (even one I do not have an account at) selling me rolls of pennies. |
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11 Posts |
Posted - 08/24/2008 : 16:31:05
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| thanks mike I was wondering what CWR stood for in some of the other posts I was reading |
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Newbie with questions
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