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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 02/25/2007 : 23:03:25
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HoardCopperByTheTon,
As to that last sort time, it was with coins out of the wrappers and all ready to go. I really just wanted to see how fast the machine could go. The stated max speed is 300 coins per minute, which I naturally assumed was best case marketing hype. I really expected to see something less than that and was quite pleased at what I saw.
I've only tried coins from Austin and Lake Charles, La. I have no idea how coins are distributed within the US, but it's possible that they both ultimately come from the same place (perhaps the same regional coin terminal), and thus give me about the same results. Maybe a lot of the Cu coins from this region were getting sucked into Mexico. Who knows...
Initially, when I was sorting by hand, my goal was to see if there were indeed copper cents in circulation and how the yield % that I got would compare to what y'all are seeing. I tried to get to many banks all over Austin. Other than one box of 2007 coins, I didn't really see much difference in yields.
In Austin, I find most banks nearly hostile to giving out bulk coins to non-customers. Very un-Texan, I must say. Ironically, Bank of America, where I have my accounts, is the only bank that hasn't asked if I have an account or looked at me like I was nuts. They just fork over the boxes, without blinking an eye.
It looks like all of the coins I've gotten have been machine rolled, either in paper or shrink wrap plastic. The one exception is the pennies I got in Lake Charles, which appeared to be hand-rolled, with folded ends.
Now that I'm getting my rhythm down, I can really make good progress on the pennies. I did 10,000 this morning in about an hour. This includes breaking the rolls. Only one jam and it was due to a small piece of wood that came from who knows where.
Coin collectors should skip this paragraph... I know it is crude, but I use a razor blade to slice the rolls down the side, and then dump them in a bucket. This is fast and easy, but has the nasty side effect of marring the edge of the coins. Since I'm not a "real" collector, I manage to overlook this and proceed on in the most efficient manner I can find.
I did a few experiments with CoinMaster, as reported elsewhere here, and they do track Cu vs. Zn coins. Now whether the sort on that basis and treat them differently is anyone's guess.
While BOA will take back the bulk coins I reject, there is a service charge. Because of this, I have an account at a credit union that has a nice comemins sorter in the lobby for customers to use at no charge. 4,000 coins per minute. It prints a receipt and they give me cash. Very convenient.
I'm not sure about the economics at this point. I'm mainly doing this for fun. My son, who is 13, wants to use the machine to sort nickels and pull the silver ones. The percentages on those must be in the low single digits, but we'll give it a try for fun. The Rydale machine will sort nickels, so it will be a good additional test for it.
These "monetary realist" activites are new for me, but are providing a lot of entertainment for me and education for my kids.
MaDeuce. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/25/2007 : 23:57:10
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MaDeuce,
Great to hear the glowing reviews on the machine. I missed getting one on eBay by 1.69 tonight. I will get one eventually. I know what you mean about Bank of the Vatican's service charge.. I have an account there too. Basically they are just saying they don't want to deal with customer deposits of coins. That deal at the credit union sounds great. I will have to check out some of the local credit unions to see if they have something similar. Bulk deposit with no service charge would be ideal. I have a Glory machine that rolls 10 rolls a minuts so rolling the zincolns up for redeposit isn't nearly as time consuming as it used to be. You might ask your credit union if they will sell you the bulk customer deposits of pennies in bags. That way you wouldn't even have to razor blade the rolls. I agree with you that the yield percentage for silver nickels would probably be low, but it is worth a try. I was thinking about your yield percentages as I was sorting through some customer wrapped rolls I picked up yesterday when I went on my nickel run. The roll I just sorted had 58% copper.. Swwwweeeeeeeeeeeeeeeeet!
"Preserving coinage.. 2 tons at a time" |
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Ryedale
Administrator
USA
523 Posts |
 Posted - 03/01/2007 : 22:51:54
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My bank called me yesterday and said they had a bunch of pennies come in. They have a redemption machine in the lobby, and they sell me the $50 bags of coins right off the machine. The machine only sorts by size, so any "mistakes" made by users I get to check out. I picked up 3 bags and sorted them. I got 24% coppers, but the interesting thing was the high wheat penny content. Usually I get between 8 and 12 wheats per 2500 coins, or roughly .4 percent (of the coppers). This lot had 311 wheat pennies, nearly one percent (of the copper) and the dates were from 1909 on up (no S or VBD just common 1909) and included almost every year. These represent the oldest wheats I have found in circulation to date (last oldest was 1911). Im not sure but I would say somebody cashed in Grandpas penny jar. There were however so far no rare dates, and the coins looked like the dates were polished with a small buffing wheel, they were somewhat shiny by the dates. Some very nice coins though.
I also picked up a bag of nickels ($200). I have not been salting away nickels, as I think they will be available for a while, but they had a bag and I got it. I sorted it for high NI content Canadians and only got 10 from 4000 coins (in Michigan) Very low percentage but fun to sort all the same. I suspect they will make a steel coin like Canada before long, and simply let the 25/75 disappear. The big armored car companies may also start harvesting them too.
Ryedale
Hoard Copper Pennies,
The market will develop |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/02/2007 : 00:40:40
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That's great that you got all those wheat cents. I love wheat cents. I think the 1909 wholesales for about a buck. I picked up another box of nickels yesterday. I popped them open today and there was not a single Canadian nickel in them. Just 50 bright shiny rolls of Ocean View nickels. This was an easy box to sort. I luvs dem bright shiny nickels!
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni14000 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/03/2007 : 12:28:25
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Yesterday was payday so I decided to get me some coins with the extra money. At my first bank, Wells Fargo, they grudgingly allowed me only one box of nickels and one box of pennies. They said they hadn't got a shipment from their central vault in weeks and were trying to keep what few coins they had for their merchant customers. Is a coin shortage developing? Probably not yet. I'll be a nice guy and drop off a couple of boxes of zincolns to them today to help tide them over. Always good to be on good terms with your bank. They remember who was nice to them and who was a jerk because he couldn't get all the coins he wanted one day. I still had money burning my pocket so I stopped off at the bank where we keep my company's account to pick up some more coins. This bank was Comerica and they are always really nice to me there. Every time I go there, there is never a line and they give me fantastic customer service even though I don't have a personal account there. They have even started ordering extra boxes of pennies so they will have them in stock whenever I want them. Here, I hit the jackpot. Got a box of the new shiny Montana quarters. Unfortunately that put a dent in the day's penny and nickel budget so I was only able to get 1 box of nickels and 3 boxes of pennies. I went through most of these last night. The nickels were another solid box of new Ocean Veiw nickels. That was sure a quick sort. In the 3 boxes of cents there were 2 and a half boxes of 2007-D rolls and the other 25 rolls where mixture of old and new cents. I haven't done the full sort on those yet, but checking them on the scale showed that these were stuffed with lots of zincolns as there were no rolls better than 18% copper by weight. I think the armored car companies make up these mixed rolls of old and new cents to discourage hoarding of new pennies. I don't mind getting the solid 2007 rolls.. those are bringing about $42 a box on eBay right now. After the listing fee, the back end fee and the PayPal fees there are still a few pennies left.<G> One roll had something I had never gotten in a roll before. It was on the end of a roll so I opened that one first. It was a 10 Filler coin from Hungary. Guess I can start hoarding Aluminum now. The roll that one was in was only 8% copper, but I was happy to get something different. I haven't sorted the box of nickels and pennies from the first bank. They look like the normal mix of machine rolled coins.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni18000 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/03/2007 : 17:09:48
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Today I managed to sort through 10 rolls of customer wrapped cents in between sneaking off to the bank to get more coins and doing yard work. I hate that yard work.. really cuts into the time to play with your pennies. It is interesting to note that the percentages can vary widely by roll. The first roll I sorted had 78% copper! It was downhill from there. The other 9 rolls had 18%, 24%, 28%, 20%, 12%, 22%, 18%, 28% and 14%. The batch as a whole yielded 26.2% copper. There were also 2 Canadian cents and 2 wheat cents.
Today's buying report:
First bank was Washington Mutual
100 Ike Dollars
66 rolls customer wrapped pennies
15 rolls customer wrapped nickels
Second bank was Bank of the West
40 rolls customer wrapped pennies
24 rolls customer wrapped nickels
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni18000 |
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Ryedale
Administrator
USA
523 Posts |
Posted - 03/03/2007 : 17:30:19
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Got another $100 in bags yesterday, Total of $250 for the week.
This lot it seems the wheats are returning to normal. The good news is the percentage kicked back up.
10,000 mixed
2,938 Coppers (includes canadian copper and wheat pennies)
so %29.38 percent.
I'm happy. Have a great weekend Ryedale
Ryedale
Hoard Copper Pennies,
The market will develop |
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n/a
deleted
43 Posts |
Posted - 03/03/2007 : 17:33:55
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you sort through dollar coin rolls?
Hey Now. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/03/2007 : 19:26:11
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Nah, I wouldn't really call it sorting through the dollars. I check them on the scale for silver. Sometimes a silver one will have gotten into circulation. Also, if you find one that is supposed to be clad struck on a 40% silver planchet it is worth big bucks. I take the Ikes whenever the bank has them. I can sometimes get $21-22 for a roll. They are also fun to spend.
I got into trouble again today. The conversation went something like this:
Her: What are you bringing into the house, now?
Me: Um..... Some pennies, nickels and dollars.
Her: More pennies??!!!
Her: What are you going to do with them?
Me: Sort through them.
Her: I never see any pennies going out of here, but you always seem to be bringing in more. There are pennies everywhere.. we don't have enough room!
Me: Sure I get rid of some.
Her: Sure seems to me there are a lot more pennies coming in than going out.
Psssst.. I think she's onto me, guys.
Earlier today it was her asking "What site are you on now?"
I told her it was the penny hoarding board. She says "You need to get on the penny unhoarding board"
Am I the only guy that gets grief over a few pennies? Do the rest of you guys have to sneak your pennies in in the middle of the night?
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni18000 |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/03/2007 : 21:28:52
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Just tell "Her" the following:
You had a dream that you found a 1922 penny with no mintmark in the pennies you searched, and you sold it for $3,000.00 (1922 no D sell for that much in near perfect condition)
You want to see if that dream will come true (stranger things have happened)
Forum Member Carl can inform you of the valuable error cents floating aroundin circulation, so finding a valuable error is not unheard of.
If that fails, you may have to take up sorting in the garage to avoid suspicion.
Good luck with your searching and hoarding. |
Edited by - pencilvanian on 03/03/2007 21:30:30 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/03/2007 : 21:49:06
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Hmmm.. not sure if she would really believe it. Shhhh.. quiet about the garage.. she doesn't know about the huge stash of unsorted boxes I have hidden out there. Actually, I am sure she would like your suggestion about moving the entire operation to the garage.. she thinks I spend entirely too much time on the computer. She would love to see our office "penny free" Now if I were to take up hoarding Teddy Bears, that would probably be ok with her.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni18000 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/04/2007 : 01:42:22
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Sorted through the 40 rolls I picked up at Bank of the West earlier today. It started off really great. The first roll was 100% copper! Well, one of them was Canadian, but it was a copper Canadian. It also contained 4 wheat cents. So you figure it has to go down from here, right? Sure enough, the next roll contained one zincoln, so it was only 98% copper, but 11 of them where wheat cents! So I start looking through the group for the rolls with this guy's name and phone number on them. Next roll went down drastically. It had a lot of what I call "Road Kill coins" You know, those Parking lot cents that have been beat up and run over. I'm figuring this guy must go for long walks and pick up whatever money is laying around. This roll was only 58% copper. Next roll.. back to perfection.. 100% copper with 10 wheats! The other rolls from this guy were 40%, 58%, 52%, and 62%. The other rolls in the batch where typical.. ranging from 10-50% except for 1 which only had 1 copper cent in it and a bunch of 05 and 06 cents. The one copper coin was a gorgeous 1969-S though. I will have to check it later to see if it is a double die. Wouldn't that be something? One guy in my coin club found one in a roll of AU/BU 69-S cents he bought for 75 cents. He had it certified and he has since turned down offers of $9,000 for it. Total batch came out at 40.5% copper with 26 wheats, 2 Canadians, and 1 penny from Ireland with a Pearooster on it. I was pretty happy with this batch. I also ran the Ike Dollars across the scale. Alas, no silver.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni19560 |
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n/a
deleted
132 Posts |
Posted - 03/04/2007 : 08:25:19
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20 Rolls
268 Copper
3 Wheat
To the uninformed, pocket change.
To the informed, an investment. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/04/2007 : 12:28:04
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quote:
Originally posted by pre-82
20 Rolls
268 Copper
3 Wheat
27.1% Copper.. A little better than average.
Those paint cans will be full in no time.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni19560 |
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 03/04/2007 : 17:25:14
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quote:
Originally posted by HoardCopperByTheTon
quote:
Originally posted by pre-82
20 Rolls
268 Copper
3 Wheat
27.1% Copper.. A little better than average.
Those paint cans will be full in no time.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni19560
Paint cans are a great idea for coin storage!
________________________
Burn paper dollars before you melt coins. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/05/2007 : 02:41:02
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20 Rolls
200 Copper
4 wheat
2 Canadian
Exactly 20% Copper.. Looks like Pre-82 beat me today. Guess I got a little spoiled with that batch yesterday.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni19560 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/07/2007 : 00:37:42
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Hey guys.. there has got to be more than just me, Rydale, MaDeuce and Pre-82 doing some sorting. Would love to see some more posts here. If you haven't had time to do any sorting just tell us a positive or negative story about acquiring the coins you are going to sort later.
Today's sort:
1 Roll of pennies - 28% copper
3 Rolls of nickels - 1 Silver War Nickel - a 1945-S!
I know, I know.. not much sorting.. but hey, I gotta work sometimes.. helps pay for all those coins I want to hoard.
Today's Buying Report:
1st Bank -
Comerica
20 rolls customer wrapped pennies
20 Rolls Nickels
11 Customer wrapped
9 BU Bank wrapped rolls Ocean in View
1 Box Quarters
30 BU Bank wrapped rolls South Dakota
20 Bank wrapped mixed clad
I checked the clad rolls on the scale really quick to see if they might be worth opening. One roll was heavy so I opened it up, scanned the edges and sure enough there was one that looked like a solid silver band! I plucked it out and prepared to check out the date of my silver quarter.. but guess what? It wasn't even a quarter.. it was a 1/2 something from Isreal (Shekel?) Still a pretty neat looking coin.
The bank was really nice and offered to order some more coins for me for Thursday. I had them order 12 boxes of pennies and 3 boxes of nickels.
2nd Bank - Bank of the West (Different branch than my main one)
No pennies :-( They were all out. Manager told me they had just sent off a huge shipment.
30 Rolls Customer wrapped Nickels
10 Rolls BU Bank wrapped South Dakota quarters
2 Rolls BU Bank wrapped Washington Dollars
Came to a nice arrangement with the manager. I told them I will take all the pennies they are thinking about shipping in the future, either bulk or rolled.. they just call me on my cell phone when it is time to pick up. The bank loves this because they do not have to pay to ship all those bags of pennies. I think this branch will probably be giving them to me still in the rolls. They said it takes them about 3 hours to break all the rolls so it would save them a lot of labor if I just pick them up still in the rolls.
You guys might try working out an arrangement with your various bank branches like this. It is good for the bank because it saves them labor and money and great for you because you will be getting virtually all of the bank's customer rolled pennies!
Hope to see some other reports in this thread soon.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni20560 |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 03/07/2007 : 01:05:32
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her: "Sure seems to me there are a lot more pennies coming in than going out."
You (shoulda): That's how you accrue savings. You have more money coming in than you spend.
HoardCode0.1: M28/5CAON:CA5Ni27615:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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n/a
deleted
37 Posts |
Posted - 03/07/2007 : 06:19:12
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Hello Fellow Hoarders !
I am averaging 28% copper from $25.00 boxes I have been getting from various banks in my area.
The other day I was in a town about an hour or so from where I live. I stopped at a very small regional bank and asked for some customer rolls. I "bought" $20.00 worth and just finished going through them. My average was 24%, a little low, and NO wheaties.
From the bank rolls in my area, I have been averaging 30 to 40 per $25.00 box. I even pulled a 1909 VDB and several Indian heads and over 300 Canadians to date.
Seems to me the general public knows to at least pull wheaties before they roll them. I think I will stick to my local banks $25.00 rolls.
4796 Pre 1982
141 Wheats
310 Candians
1 1905 Indian Head
1 1898 Indian Head
1 1881 Indian Head
1 1943 Steel
1 1909 v.d.b.
Running Percentage 28.7%
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Edited by - n/a on 03/07/2007 06:27:14 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/07/2007 : 08:49:46
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quote:
Originally posted by BonPecheur
Hello Fellow Hoarders !
I even pulled a 1909 VDB and several Indian heads and over 300 Canadians to date.
Wow, I have never found a 1909 VDB or an Indian yet! Great find! I think that coin currently wholesales for over $7. Thanks for sharing.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni20560 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/07/2007 : 08:59:57
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quote:
Originally posted by Canadian_Nickle
her: "Sure seems to me there are a lot more pennies coming in than going out."
You (shoulda): That's how you accrue savings. You have more money coming in than you spend.
She would probably say "That is not savings.. you are just bringing in more nasty 'ol pennies so you can play with them"
Besides, you know that is not the female way.. They can always spend more than you could ever conceivably bring home. The hoarding is a great defense mechanism.. she can't spend it if she can't carry it <G>
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu654000:US5Ni20560 |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 03/07/2007 : 09:28:17
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quote:
Originally posted by HoardCopperByTheTon
Hey guys.. there has got to be more than just me, Rydale, MaDeuce and Pre-82 doing some sorting. Would love to see some more posts here. If you haven't had time to do any sorting just tell us a positive or negative story about acquiring the coins you are going to sort later.
. . .
Wow! you guys are going great guns! I'm one of the ones who wishes there were more time for sorting. But between an upcoming audit at work, helping to take care of our 5-year old with autism, getting my WSTHF garden going, and trying to exercise to get the fat out of my liver (I have non-alcoholic steatohepatitis, and I'm only 41), and trying to keep track of all of my son's therapy bills, insurance paperwork, etc. ; I just don't have the time. And even if I did start sorting some pennies, I'm sure my wife could come up with something 'better' for me to do.
So now, I'm just stalled at about $60 face in coppers, and I've got a $100 box of UNC 2006 nickels squirreled away. I've got two unopened boxes of pennies waiting for sorting. I do think that the Cu percentage is lower here in Arkansas for some unknown reason from what sorting I have done in the past. Maybe there's not as much road salt used around here to corrode the ones that get thrown out on streets and sidewalks. Maybe I'll call around to banks and squirrel away more boxes of pennies and in a few years my kids can do the sorting. You know I could use the boxes of pennies like bricks and build some kind of fallout shelter in case of nuclear attack or dirty bombs.
Metalophile |
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Frugi
Administrator
USA
627 Posts |
Posted - 03/07/2007 : 15:01:37
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Bought 25 rolls of 1964 DMPL Canadian Ninickels. All unopened in Canadian Bank of Commerce, Montreal blue paper rolls.
Paid with (4) 2005 Canadian .9999 Silver Maple Leaf's
I sold on eBay 25% of my Ni hoard.
I made a 400% return on my investment.
I re-invested 25% of my profit back into Ni.
I have the same amount now as I did before selling on ebay. & NOW
My entire hoard is now paid off.
Real Eyes Realize Real Lies
Buy Less. Work Less. Live More.
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n/a
deleted
43 Posts |
Posted - 03/07/2007 : 16:00:45
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just some change lying around
59 pennies
38 zincolns
5 copper
8 1982
that probably doesn't add up, but there it is.
9.8% copper.
"Preserving coinage by the pound" |
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deleted
132 Posts |
Posted - 03/07/2007 : 20:00:54
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10 Rolls
114 Copper
1 Wheat
1 Canadian
quote:
Paint cans are a great idea for coin storage!
Thanks Ardent Listener !
To the uninformed, pocket change.
To the informed, an investment. |
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Sorting percentages II & buying reports
Forum Locked
Topic Locked
