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n/a
deleted
78 Posts |
 Posted - 01/11/2007 : 23:47:45
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I'm thinking this melting ban may actually help us. I've heard that some companies were exporting coins to Canada to be melted, or melting them here in the US. The Sorting Percentages thread seems to indicate that this is going on on a fairly large scale.
I think that the target for the ban is companies doing this on a large scale, not us bunch of kooks with a few jars of coppers.
So, if the companies stop taking them out of circulation, more for us.
What y'all think?
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 01/12/2007 : 02:26:07
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it's not such a good thing if it means the feds themselves are now pulling the copper...
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/12/2007 : 07:50:19
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Even though the fed may be pulling out the copper it's still bettter for us that other large companies are not doing the same.
On the GIM site one of the members said that he was one of those who were pulling out pennies big time with $15,000 machines.
________________________
Burn paper dollars before you melt coins. |
Edited by - Ardent Listener on 01/12/2007 07:52:02 |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 01/15/2007 : 07:45:04
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Sounds like someone is living in a fantasy land. New law banning melting coins? Got to be kidding. Lets see now. We have made laws against illigal drugs, stealing cars, robbing stores, killing people, rape, etc. So naturally all these things stopped because we have a law against them. Remember the laws against booze way back when? Oh yeah, and what about the laws against coming into this country illigally. That one sure stopped that right?
Carl |
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n/a
deleted
479 Posts |
Posted - 01/15/2007 : 14:51:58
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In general, laws are at least supposed to be passed against doing bad things.
When I lived in Japan, I read a series of essays about east is east and west is west, you know the kind of thing I'm referring to.
One person's input struck me and I still qwote it from time to time. I must paraphrase because it was a long time ago.
He said,"
In the west, everything is okay, unless it is specifically pointed out as, "not okay".
In the east, everything is not okay, unless it is specifically pointed out as, Okay".
Culture and the law and the education system and the media, point out to us in the west what is not okay, such as melting coins.
Culture and the law, etc. point out to those east what is okay.
I know that this is oversimplification.
But the idea that we are told what is okay and what is not by our culture, and in a democracy, at least theoretically by each other, is almost self evident. It bears repeating however in times when we are trying to figure out what is moral and what is not.
Just Carl points out that laws against drugs don't stop the use of drugs.
My personal opinion is that coins are worth more as coins than they are as lumps of metal.
Someone added labor to those lumps of metal to turn them into coins.
Subtracting that labor by melting them into amorphous lumps, should, all things being eqwal, make them worth less.
.................................................
A billiard ball dropped from 1,362 feet (height of the South Tower) in a
vacuum would require 9.22 seconds to hit the ground. How then did the
towers collapse in 10 seconds and 11.4 seconds, and why has not one
member of the mainstream media insisted on honest answers from the
government in this regard?
"The individual is handicapped by coming face to face with a conspiracy
so monstrous [that] he cannot believe it exists."
- J. Edgar Hoover |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/15/2007 : 17:06:17
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With falling base metal prices melting coins for their bullion value is quickly becomming less practical or profitable. Already the zinc cent is worth more as a cent than for its metal value. Maybe they will not keep the melting ban on. Short term it may no longer be needed.
This is a long term game now gang.
________________________
Burn paper dollars before you melt coins. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 01/15/2007 : 17:34:01
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quote:
Originally posted by Ardent Listener
This is a long term game now gang.
I have always taken for granted that this has always been a long term game since the US stopped making cents out of 98% copper in 1981.
Over the long term, everything goes through up years and down years.
The secret to success is to sell when the whole world is buying or trying to get in on the act,
and buy when the whole world laughs at you for your purchases.
Right now we are in the 'laughing' phase, gold, silver, base metals, all are considered 'dumb' investments by the experts since they don't pay dividends or interest. However, as inflation keeps pushing up the price of everything, it is the metals that will outshine the 'smart' investments that are backed by fiat money.
Twenty years ago, nobody but nobody would have guessed that a copper penny would ever be worth more than face value, who knows what a copper penny will be worth in another two decades? |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 01/15/2007 : 17:42:52
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Yeah, people today just don't understand long-term thinking.
If you have a paper investment that shows you a 20% return, you don't consider the inflation of the currency that increase is enumerated, or the fact that the "price" of this "contract" could go down, for any number of reasons, over the very long term (like 15 years)).
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 01/15/2007 : 18:57:04
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I've made this statement on numerous post. I go to about 2 to 5 coin shows a month. I've seen cents that most would not think twice about melting go for $1 to $10. Coins like the 55DD are so far up there in price it is becoming a joke. The 22plain is about $27,000. Now just think if we melted down some of the higher priced ones like those we could make almost a quarter instead of about $100,000. Now that is real smart. By the way if you check the 1943 Copper Cent is going for over $100,000 itself.
Carl |
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n/a
deleted
4 Posts |
Posted - 02/06/2007 : 14:46:49
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What is the GIM site? Do you have a link to the guy who said he was sorting big time? I am in the Philadelphia area and my Brink's drive told me of someone in addition to myself that mass sorting in the Philadelphia area.
quote:
Originally posted by Ardent Listener
Even though the fed may be pulling out the copper it's still bettter for us that other large companies are not doing the same.
On the GIM site one of the members said that he was one of those who were pulling out pennies big time with $15,000 machines.
________________________
Burn paper dollars before you melt coins.
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 02/06/2007 : 14:59:16
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GIM is the goldismoney.info site. Take a peek.
Metalophile |
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n/a
deleted
4 Posts |
Posted - 02/06/2007 : 15:01:23
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Thank you.
quote:
Originally posted by Metalophile
GIM is the goldismoney.info site. Take a peek.
Metalophile
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Melting ban good for us?
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