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Cody8404
Penny Hoarding Member
USA
602 Posts |
 Posted - 12/02/2008 : 15:55:34
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Coinflation today shows copper cents have a melt value of 106% of face value and nickels are now worth less than 50% of face value.
Are you having second thoughts on hunting for cents and nickels?
I am being told now that prices are low is the time to take them to the bank. My response has been that is the best way to go broke. Buy high and sell low. Like most people have done with their 401k, and their stocks.
Honestly I think now is the best time to stock up while the price is low because I think it will be going back up very soon.
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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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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 12/02/2008 : 16:31:18
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I'm sitting on my .999 Nickels until:
1) Hell freezes over; and/or
2) I need them to feed my family |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 12/02/2008 : 16:53:46
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you can send them to me at half the price  i would stock up also |
Inquiring minds want to know |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 12/02/2008 : 17:48:15
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quote:
Originally posted by Cody8404
Are you having second thoughts on hunting for cents and nickels?
Nope. I'm still sortin' 'n' 'hoardin...
It seems nobody can think or plan long term anymore. Everything is very short term, almost a knee jerk reaction these days.
Gas prices go up, everybody in a rush to buy a economy car. Gas prices go back down, we're buying SUV's again...
The Johnny come lately’s who can't or won't think, they are the ones who just emulate the actions of the successful thinkers and innovators, and then enjoy the rewards. They are the ones looking for get rich quick schemes. They are the one's who create bubbles.
Because they are stupid and lazy, they will be the ones who bail when things get challenging.
That's fine with me. Just do it near me so I can buy their Cu dumps... 
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 12/02/2008 : 18:24:17
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You're right on the money, Bluegill, real money that is.
So the melt value of the penny and nickel have fallen, what investment hasn't lost value this year?
Unless pennies were bought for 1.1 cents each or nickels were bought for 6 cents apiece nobody has lost money on the coin hoarding deal, you can't say that about stocks.
Right now it is the fear and dread of recession that is pressing on prices for commodities. No government on earth is going to sit still and let the resession drag on without fighting it to the fullest (read money printing presses running full blast) expect either stagflation or inflation in the future.
Inflation= higher prices for everything, including copper & nickel.
For those thinking about dumping their hoardes now: Dumping nickels or pennies now means all your hard work of gathering up these coins has been for nothing. Short term thinking has ruined more investors than market downturns.
These hoardes are still coins, they don't have to be turned in right now (unless you are really pressed for cash, and even then you could sell for a small profit on this forum.)
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coppernicus
Penny Collector Member
USA
383 Posts |
Posted - 12/02/2008 : 19:26:20
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| I'm holding on for now, but I do wonder how much copper is appropriate to hold. A ton is only 3,000 dollars. Yet very few people actually have over a ton. It is good to have a hobby where you actually can gain rather than lose money. But if you were only sorting for the money, you would probably be better off getting a job at McDonalds |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/02/2008 : 20:21:18
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quote:
Originally posted by coppernicus
I'm holding on for now, but I do wonder how much copper is appropriate to hold. A ton is only 3,000 dollars. Yet very few people actually have over a ton. It is good to have a hobby where you actually can gain rather than lose money. But if you were only sorting for the money, you would probably be better off getting a job at McDonalds
Still sorting here. Impossible to loose money once machines are paid for. A ton comes quicker than you would think....
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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Kurr
1000+ Penny Miser Member
2906 Posts |
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simplicitycounts
Penny Hoarding Member
USA
535 Posts |
Posted - 12/03/2008 : 02:06:21
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| Well said Kurr. |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 12/03/2008 : 07:08:09
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| I'm still sorting and will continue to do so. I think that the up side of the price drop is that fewer people will be willing to start sorting. I think that it will mainly keep companies from sorting. This leaves them in circulation longer for us to be able to reach our goals. |
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dp2007
Penny Pincher Member
130 Posts |
Posted - 12/03/2008 : 10:15:00
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"My pennies and nickels have NOT lost value from what I paid. They are worth .01 and .05 respectivly and that is EXACTLY what I paid for them. They can not go lower, only higher!"
All true. However, if it is about making a profit you do have to consider time invested. Let's say you put in an hour to sort. If you made a $20 profit for that hour this past August but only a $5 profit yesterday then there is a big difference in your "cost".
If it is a hobby to you I agree with your .01 and .05 cost. |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 12/03/2008 : 10:59:33
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quote:
Originally posted by coppernicus
I'm holding on for now, but I do wonder how much copper is appropriate to hold. A ton is only 3,000 dollars. Yet very few people actually have over a ton. It is good to have a hobby where you actually can gain rather than lose money. But if you were only sorting for the money, you would probably be better off getting a job at McDonalds
I'm enjoying searching my rolls of coins too much to quit right now. Plus I enjoy coming to this site and "meeting" all of you through the posts.
As to the above quote: I would LOVE to be better off getting a job at McDonalds or anywhere else. BUT, I have health problems that have not allowed me to drive in many years. Where we live, if you can't drive you can't work as there is no public transport nor any businesses in walking distance in which to work. I don't qualify for disability and do not receive any sort of assistance. So, therefore, I had been unable to contribute to our household for many long years.
My efforts may have been worth mere fractions of a cent per hour for my time spent searching, but a price can NOT be put on the boost my self esteem took the first time I was able to sell a few of the error coins I have found. It wasn't much--not even enough for a good dinner out--but to me, it was priceless!
So until the day that my health returns to where I can drive and work--which I pray for daily--I will continue to enjoy searching through the rolls of coins and coming to this site to be entertained by everyone else's ups and downs. And, hopefully, we will all have way more ups than downs.
Enjoy, everyone. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/03/2008 : 22:21:56
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quote:
Originally posted by dp2007
"My pennies and nickels have NOT lost value from what I paid. They are worth .01 and .05 respectivly and that is EXACTLY what I paid for them. They can not go lower, only higher!"
All true. However, if it is about making a profit you do have to consider time invested. Let's say you put in an hour to sort. If you made a $20 profit for that hour this past August but only a $5 profit yesterday then there is a big difference in your "cost".
If it is a hobby to you I agree with your .01 and .05 cost.
I only sort for a hobby - Running my business takes more then a full time job and I certianly will not be taking a McJob with my "spare" time. (no offense to fast food workers).
In addition to the potential profit of the hobby, I like the cool finds in those rolls. |
“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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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 12/03/2008 : 22:38:25
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| Too addicted to stop. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/04/2008 : 06:36:28
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quote:
Originally posted by Epaphras
Too addicted to stop.
I think that sums it up for a lot of us here....
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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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/04/2008 : 07:34:47
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| At 100% pennies are still better than gold and silver bullion because there is no premium on them. If they drop much below that, you have to start considering other hard investments. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/04/2008 : 11:36:00
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Whoohoo!!! The price of copper is up! Worth $53 a bag now.. it was down to $51.50 at one point.. we all just doubled our potential profit in our copper portfolios!
Will stop sorting and hoarding when they pry my cold, dead fingers from my precious machines.
Copper pennies are great to hoard.. either by the roll, or by the ton. There is no downside.. if they drop much lower, they are still worth face value. If there is serious deflation, you have a cash position. If there is an improvement in the economy or inflation, you have nothing but upside with your base metal holdings.
I also enjoy this very much as a hobby. How many hobbies can you enjoy virtually for free, yet still have a potential to profit a little? The other beauty of this hobby is that you can participate at whatever level you feel comfortable.. either by the ton, or 1 penny at a time out of the take a penny dish at the gas station like Deal.
One of the aspects I enjoy most is the camraderie of my fellow members here. Sharing stories and ideas.. enjoying others' good fortune vicariously.
If anybody is thinking they need to take those copper pennies back to the bank, I'm sure I could find a much better home for them.
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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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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 12/04/2008 : 13:00:23
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quote:
Originally posted by HoardCopperByTheTon
Whoohoo!!! The price of copper is up! Worth $53 a bag now.. it was down to $51.50 at one point.. we all just doubled our potential profit in our copper portfolios!
Will stop sorting and hoarding when they pry my cold, dead fingers from my precious machines.
Copper pennies are great to hoard.. either by the roll, or by the ton. There is no downside.. if they drop much lower, they are still worth face value. If there is serious deflation, you have a cash position. If there is an improvement in the economy or inflation, you have nothing but upside with your base metal holdings.
I also enjoy this very much as a hobby. How many hobbies can you enjoy virtually for free, yet still have a potential to profit a little? The other beauty of this hobby is that you can participate at whatever level you feel comfortable.. either by the ton, or 1 penny at a time out of the take a penny dish at the gas station like Deal.
One of the aspects I enjoy most is the camraderie of my fellow members here. Sharing stories and ideas.. enjoying others' good fortune vicariously.
If anybody is thinking they need to take those copper pennies back to the bank, I'm sure I could find a much better home for them.
What if your power goes out for good? |
"99% of all lawyers give the rest of them a bad name" 
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 12/04/2008 : 14:15:17
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quote:
Originally posted by moboman
dont look at coinflation today. Copper cents are worth less than face.
You must be logged in to see this link.
I peaked...
The pre '80 Canadians are still worth more than face, barely. The '82-'96 aren't looking so swell, .79˘.
I'm hope this scares all the wannabees and they dump their hoards. More for us. My percentages could use a boost...
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Edited by - Bluegill on 12/04/2008 14:40:39 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 12/04/2008 : 15:30:18
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If I buy anymore serious silver buys then my nickel hoard has got to go. |
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Think positive. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 12/04/2008 : 16:56:36
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quote:
Originally posted by HoardCopperByTheTon
How many hobbies can you enjoy virtually for free, yet still have a potential to profit a little? The other beauty of this hobby is that you can participate at whatever level you feel comfortable.. either by the ton, or 1 penny at a time out of the take a penny dish at the gas station like Deal.
Those are the upsides to this hobby, no cost to get into the hobby if you can't afford/have no room for a Rydale, and the cost of coins is face value. A casual copper hunter can find some nice cents from one roll and can feel just as pleased with the results as a copper hoarder who goes through a box a day.
Of course, the forum members here are what make the hobby really fun, cheering on whatever the find might be, be it one humble wheat or a whole roll of coppers. No one upmanship as far as finds are concerned, only a good natured one upmanship when it comes to getting to a ton of copper (no offense to the female hoarders, but one upwomanship just sounds odd.)
Back to the price of cents and nickels-
Everything has gone down, commodities, stocks, no one knows what to do investment wise. While technically one loses interest on money earned by keeping money in coin form instead of buying CDs, CD rates are not competitive compared to the cost of inflation.
Keeping money at home for emergencis isn't a bad idea, and it is much tougher for a thief to steal $1,000 or more in coins than in paper money.
Meanwhile, with all of the money getting created to fight the recession/meltdown, that money eventually ends up pushing up prices of everything. There is talk of another stimulus package to get people spending once Obama is sworn in, that will have an effect on inflation.
The same way gold and silver have taken some big hits, it was inevitable that copper an nickel would do the same. Since I don't need to cash in the cents or nickels, they are just gong to stay where they are waiting for inflation to do its thing and push up the price of everything. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 12/04/2008 : 17:07:28
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Worth at least 1 cent each for each 1 cent.
If the prices of commodities really do drop, now is the time to buy before the prices go up even faster. Keeping a few copper cents around is by far worth moe than the 1/2 percent intereset the bank offers.
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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. |
Edited by - Cody8404 on 12/04/2008 17:08:04 |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
 Posted - 12/04/2008 : 17:10:35
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| I am so glad to be in the company of the great folks who visit realcent |
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 - 12/04/2008 : 19:21:15
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quote:
Originally posted by Cody8404
Worth at least 1 cent each for each 1 cent.
If the prices of commodities really do drop, now is the time to buy before the prices go up even faster. Keeping a few copper cents around is by far worth moe than the 1/2 percent intereset the bank offers.
I think the real issue that each of us should be thinking about is whether copper will soar as (hyper)inflation kicks in, or whether it will stagnate and remain below copper-cent face value. And if copper will stay below pennies' face value, is it worth hoarding them at the moment in lieu of other metals (especially silver, if you can find it) or other preps? I'm probably going to wait until inflation really starts to kick in before I go back to major penny-sorting since in that case the metal will be worth more than the coin insofar as fiat money is worth nothing in the first place. Once inflation starts to soar, I think all kinds of metal will be in high demand. It's happening in other countries right now:
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 12/05/2008 : 07:47:22
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| I'm still at it. I had to get rid of about $150 in copper due to surgery costs, but I found yesterday that I'm able to sort again. It's kind of funny, my shopping list for my wife was; A book, a hunting magazine, some tea and a few bucks in pennies! I've also noticed a few deals on silver on ebay. |
Are you throwing that out? |
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Copper Cents @ 100% Nickels at 50%
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