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wagsthadog
Penny Hoarding Member
USA
565 Posts |
 Posted - 09/10/2008 : 21:36:54
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Hi all,
Definitely not trying to be a rabble rouser as I'm in this as much as anyone, but I'm a little irked that a copper penny is worth a mere 2cents rather that the usual 2.5/2.8.
What are you thoughts on the market if CU pennies drop to *gasp* 1.7 or 1.4 X face? I know it's still more than 1 cent, but shipping cost and general hassle after all is said and done might not be worth it, and might deter some of the weaker hands?
As for me, I keep wheats, but I need to cycle my penny money (i.e.- I can't afford to keep hundreds and hundreds of dollars tied up in Copper pennies until they go up again.) 
SO, I'll keep penny sorting, but I might need to re-deposit coppers if the market falls out on them.
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
wags
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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. |
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natsb88
Administrator
USA
1850 Posts |
Posted - 09/10/2008 : 21:45:24
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quote:
Originally posted by wagsthadog
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
I'll pay face + shipping all day long  |
Nate
The Copper Cave
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 09/10/2008 : 21:48:19
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| We have a way to move pennies up to melt value, even if melt stays down near 2 cents. If ebay silver prices could be transfered to copper we should be selling pennies at 3 cents! Perhaps that is a marketing angle to pursue - "silver is way over spot, so invest in copper instead at under spot." We don't yet have a copper bullion category so you could list in the silver bullion section like the copper bar guys do. |
“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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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 09/10/2008 : 21:53:28
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quote:
Originally posted by legacypac
We have a way to move pennies up to melt value, even if melt stays down near 2 cents. If ebay silver prices could be transfered to copper we should be selling pennies at 3 cents! Perhaps that is a marketing angle to pursue - "silver is way over spot, so invest in copper instead at under spot." We don't yet have a copper bullion category so you could list in the silver bullion section like the copper bar guys do.
Hi there,
I concur- Ebay penny prices should be way up, and not that I'm an expert, but I think hoarding copper is still a fairly revolutionary idea and is still kinda new, and also too, one can still find respectable amounts of Cu pennies in circulation, so J6P probably thinks it's not worth it to buy the pennies if he can get them at face. (not fer looonnnggg...)
wags |
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. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 09/10/2008 : 21:54:17
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quote:
Originally posted by natsb88
quote:
Originally posted by wagsthadog
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
I'll pay face + shipping all day long
ME TOO!!!!!!!!!! |
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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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 09/10/2008 : 22:15:23
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quote:
Originally posted by NDFARMER
quote:
Originally posted by natsb88
quote:
Originally posted by wagsthadog
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
I'll pay face + shipping all day long
ME TOO!!!!!!!!!!
Same here, I'd probably even pay a little for handling. |
"99% of all lawyers give the rest of them a bad name" 
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Nickelless
Administrator
USA
5580 Posts |
Posted - 09/10/2008 : 23:14:18
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quote:
Originally posted by wagsthadog
Hi all,
Definitely not trying to be a rabble rouser as I'm in this as much as anyone, but I'm a little irked that a copper penny is worth a mere 2cents rather that the usual 2.5/2.8.
What are you thoughts on the market if CU pennies drop to *gasp* 1.7 or 1.4 X face? I know it's still more than 1 cent, but shipping cost and general hassle after all is said and done might not be worth it, and might deter some of the weaker hands?
As for me, I keep wheats, but I need to cycle my penny money (i.e.- I can't afford to keep hundreds and hundreds of dollars tied up in Copper pennies until they go up again.)
SO, I'll keep penny sorting, but I might need to re-deposit coppers if the market falls out on them.
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
wags
Wags, don't go making the mistake that too many people are as they're cashing out as metals drop. Unless you absolutely need the cash, don't cash in your coppers at the bank. First of all, there are quite a few people here on the board who'd probably be willing to buy them. Second, it makes no sense to cash out coins that have greater metal value than face value even if it's a thinner margin right now as far as spot price. Don't think of this in terms of quick turnaround on your money, think of it as investing upward--you're paying 1 cent for something that will be worth AT LEAST one cent in metal value UNLESS copper drops to $1.53 a pound--which is less than half of its current spot price, and I can't foresee any circumstances that would make the price drop that low.
But you need to stay focused on the long-term reality: The dollar will eventually crash and die, and you're going to be much better off holding on to your copper and silver and any other metals for what's coming instead of doing like the rest of America does and just cashing in their portfolios if the most recent quarter sucked. We can't and shouldn't look at the short term when it comes to hoarding metal. Why would you want to trade coppers for their face value in FRNs? FRNs are just pieces of paper that are losing value. Even though copper, silver and gold are down quite a bit at the moment, this should be incentive for us to stock up, not sell off. What you could do for now is what I've been doing--moving my money from copper to silver while silver is low, then switching back to hoarding copper if and when silver goes back up higher than what I want to pay. Don't cash out your coppers, just adjust your strategy. Bottom line is looking way down the road at how what you're collecting right now will benefit you in the long term. If all you do is focus on this quarter or next quarter in calculating your investment gain, you'll never go anywhere. Hang tight and hang here with the rest of us and we'll all get through this temporary dip together. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 09/11/2008 : 11:34:19
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Hi all,
Don't worry, I'll sell before I re-cash in coppers, but it's just that I need to keep cycling my pennies to make it an option for me. If nobody was buying, I might have to do the unspeakable...but obviously that's not the case. : )
wags |
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. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 09/11/2008 : 11:51:14
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I think people often get confused when some one mentions the words:
"long term investment"
In reference to silver, gold and platinum, while obviously you might be able to churn and buy and sell short term to make fast money, you need to think about how long your long term really is! Are you willing to hold what you have a minimum of ten years? Do you have the capital to be able to invest and just let it ride or again is all about short term fun and really just a hobby?
If I were some of the younger members i.e. twenty or less I'd tell you to buy all the gold, silver you can stand and make a promise to yourself not to sell a single ounce until you reach the ripe old age of forty! Then buy yourself a house..... |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/11/2008 : 12:22:53
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| I have been amazed at how well copper has held up. Most metals have had much larger drops. I can't really figure why copper has, so far, been spared from most of the carnage... |
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SANITARIUM_INMATE
Penny Pincher Member
211 Posts |
Posted - 09/11/2008 : 17:42:03
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quote:
Originally posted by moboman
quote:
Originally posted by NDFARMER
quote:
Originally posted by natsb88
quote:
Originally posted by wagsthadog
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
I'll pay face + shipping all day long
ME TOO!!!!!!!!!!
Same here, I'd probably even pay a little for handling.
ME TOO |
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SANITARIUM_INMATE
Penny Pincher Member
211 Posts |
Posted - 09/11/2008 : 17:46:34
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| The way to make the price what we want right now all of us have to work together in a fixed price on our sales on the bay. No more auction styles starting at .99 . Do only buy it nows at melt value price like APMEX.com is doing. Make it that they either have to do their own work (aka sort their own)or buy it at the going price, which we will be setting on ebay. Am I just dreaming or does this actually make sense to you all? |
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 09/11/2008 : 18:47:27
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I agree heartily. So far I have refused to use ebay. I am in the process of counting out another offering, and I was and am going to list it here first, because I really enjoy the feeling of brotherhood, community and the education the members here give me. If APMEX will buy for 1.5 then that is what I have to offer here at, but I get to give members first chance at it. The big guys starting to sell and setting the price just helped us all in my opinion.
The next big help I am expecting is when the mint sets the premium on the 95% Cu they are gonna roll out next year. |
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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Edited by - Kurr on 09/11/2008 18:50:49 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 09/11/2008 : 18:57:27
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| As one of the old farts around here I can assure you that since joining realcent I have seen copper pennies fall below 200% before and nickels below 100% like they are now. What comes around goes around. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 09/11/2008 : 19:29:46
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I don't know but the local coin shop owner I spoke with today is expecting silver to dip to $8.00.
Anyway, I bought 3 Silver Eagles today: 1987, 1988 and 1989 for today's spot plus $6 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 09/11/2008 : 20:02:37
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quote:
Originally posted by jpf231
I don't know but the local coin shop owner I spoke with today is expecting silver to dip to $8.00.
Anyway, I bought 3 Silver Eagles today: 1987, 1988 and 1989 for today's spot plus $6
Before someone jumps in and says $8.00 could never happen again I would just like to remind them that most of us might have said that $10.50 couldn't either just a few weeks back. How about when silver went from $50 to about $5 in the early 1980's? Who saw that one coming? Of course that was $5 in 1980 dollars so if you consider inflation we could be closer to that "$5.00 silver than we think.
$5.00 in 1980 dollars has the same buying power as
$13.35 now in 2008.
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Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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silverhalide
Penny Sorter Member
92 Posts |
Posted - 10/01/2008 : 00:57:08
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I can make explanations why zinc and nickel have tumbled into oblivion but the way copper held up until recently surprised me. Stockpiles of copper have really risen significantly in the last few months. I am guessing the reason had to do with the expectation that China would be on a buying spree again to continue with their electrification expansion after the Olympics that never materialized and tight credit doesn't help.
I am not sure what level they would drop to if the Chinese play the game and continue to hold out purchases. I know $1.50-$2.00 is an important range which the marginal producers would be forced to shut in production but those producers likely would have hedged most of their long term production by then as a precaution to stay in business.
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/01/2008 : 03:43:27
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All other conditions being equal, does copper tend to track upward in tandem with the stock market and contrary to precious metals, since PMs are more of an inflation hedge whereas copper is most often associated with construction, utilites and other things that spur demand for copper when the economy is strong?
Anyone have any graphs showing both copper and silver prices during the same periods?
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Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
Edited by - Nickelless on 10/01/2008 03:48:03 |
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SANITARIUM_INMATE
Penny Pincher Member
211 Posts |
Posted - 10/01/2008 : 07:42:04
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| The price drop may be in conjunction with the mint releasing a 95% copper penny next year. The upper powers are dropping the price so the mint can buy enough to mint the new coin and then it will go up right before the release of the new coin. To help with profit. |
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Frugi
Administrator
USA
627 Posts |
Posted - 10/01/2008 : 08:26:16
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quote:
Originally posted by wagsthadog
Hi all,
Definitely not trying to be a rabble rouser as I'm in this as much as anyone, but I'm a little irked that a copper penny is worth a mere 2cents rather that the usual 2.5/2.8.
What are you thoughts on the market if CU pennies drop to *gasp* 1.7 or 1.4 X face? I know it's still more than 1 cent, but shipping cost and general hassle after all is said and done might not be worth it, and might deter some of the weaker hands?
As for me, I keep wheats, but I need to cycle my penny money (i.e.- I can't afford to keep hundreds and hundreds of dollars tied up in Copper pennies until they go up again.)
SO, I'll keep penny sorting, but I might need to re-deposit coppers if the market falls out on them.
Unless, would any members here see themselves continuing to buy Copper pennies if the price falls to ghastly lows? I can hook you up if so!!
wags
Believe it or not. I am almost positive that when this forum was started way back when, the melt value of a pre 1982 cent was still less than $0.01, it was still under it's face value. I will never stop pulling coppers cents out of circulation, so why would I ever cash them in. |
Real Eyes Realize Real Lies
_________________________
http://inflation.us
Save the US Cent! http://www.facebook.com/#/group.php?gid=192523715681&ref=mf
www.pre82.com <-- My website. |
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natsb88
Administrator
USA
1850 Posts |
Posted - 10/01/2008 : 15:04:22
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quote:
Originally posted by SANITARIUM_INMATE
The price drop may be in conjunction with the mint releasing a 95% copper penny next year. The upper powers are dropping the price so the mint can buy enough to mint the new coin and then it will go up right before the release of the new coin. To help with profit.
Only the special collector sets will be 95% copper. They don't need that much metal  . Still... |
Nate
The Copper Cave
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 10/01/2008 : 17:08:03
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I don't have the funds some folks have. My thought is just to have a few when the dollar starts the real drop.
I agree I will pay face and shiping and hadling and a small fee.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 10/01/2008 : 17:09:25
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| I get a box or so to sort every few weeks, by hand. In the last box I got there was ONE copper cent. Lots of brand new 2008s though. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/01/2008 : 18:01:40
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quote:
Originally posted by Cody8404
I get a box or so to sort every few weeks, by hand. In the last box I got there was ONE copper cent. Lots of brand new 2008s though.
Find a bank that has bags of pennies. Chances are probably pretty good that those will be something besides brand-new zincs. Also hit up smaller banks and savings-and-loans, since they would usually have more mom-and-pop customers who are cashing in change they've been saving up for a time like now. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/01/2008 : 18:05:29
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quote:
Originally posted by Frugi
Believe it or not. I am almost positive that when this forum was started way back when, the melt value of a pre 1982 cent was still less than $0.01, it was still under it's face value. I will never stop pulling coppers cents out of circulation, so why would I ever cash them in.
That just goes to show that some people here have a lot more foresight than most others. The death of fiat currency wasn't even on my radar until just about two years ago. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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n/a
deleted
146 Posts |
Posted - 10/02/2008 : 07:34:07
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quote:
Originally posted by Cody8404
I get a box or so to sort every few weeks, by hand. In the last box I got there was ONE copper cent. Lots of brand new 2008s though.
Your mileage may vary but if you're going to be picking up $25.00 or less at a time try asking the tellers for rolls (and bring something with you to carry them in ).
I have not seen significant differences in the ratios of copper to zinc pennies between paper rolls (which most here call customer wrapped rolls) and plastic-wrapped rolls. I have yet to be seriously skunked this way (i.e. a roll with one or zero copper pennies). The only disadvantage to plastic wrapped rolls is I haven't figured out a way to reuse them for rerolling my zinc rejects, but I can always get the flat paper rolls for free for the asking from any bank.
Also check around here and find out where people, especially people with one or more Ryedales, are dumping their zincs. I understand Hoard dumps his rolls at Bank Of America in the Northern California area. My dumps go to either BB&T or to a little bank here in Virginia called First Bank. If you have someone in the same area as you dumping to the same bank you buy from you are more likely to see fewer copper pennies. |
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How low can copper go?
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