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barrytrot
Administrator
USA
721 Posts |
 Posted - 12/11/2008 : 19:50:53
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I've just started ramping up the coin sorting, getting a few boxes per week now.
But, I'm worried, what will happen in 2009?
Will there be a huge infusion of 2009's?
You veterans that have been doing this since prior to 2008, what happened when the 2008's hit the market?
Should I just buy way more than normal right now to get a good reserve going?
Thanks in advance!
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/11/2008 : 20:10:37
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I say buy, buy, buy. Then sort, sort, sort. Plenty of copper out there. No idea on proposed mintages for next year. I've sorted a few, to say the least, and my percentages have always been the same. (Low 20%'s for boxes, low to mid 30%'s for bags.) I'm a fan of trying to buy more than you can sort. Good luck. There are a lot of people quitting due to falling prices, so there copper tends to make it back into circulation. I'm not a quitter....
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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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/12/2008 : 01:11:03
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Buy a few extra boxes and make a couple of small stacks for reserve
You probably won't see any 2009 pennies until at least March.
Just ship all your 2009 cents to me. 
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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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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 12/12/2008 : 06:31:57
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| I almost forgot to look at the bike (again). |
There's profit if you melt things!!
8{> |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 12/12/2008 : 08:54:31
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| I think we'll see 2009 cents earlier than usual, due to the commemorative series being issued that year. I suspect that the recession will keep mintages down like it did this year, barring any severe inflation. I think some people will save a few of the new cents, but it won't impact the overall circulation, just like what happened with the Westward Journey nickels. I do think that people will be inspecting each cent they receive now, so expect the wheat cent population to diminish as people rediscover them. |
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Are you a Buffalo Hunter?
Wanna take seignorage away from the Fed? Spend *any* coins!
We cannot afford this government.
Cerulean's Standing Offer: $3/lb shipped for foreign coins |
Edited by - Cerulean on 12/12/2008 08:55:50 |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 12/12/2008 : 09:01:31
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quote:
Originally posted by Cerulean
I do think that people will be inspecting each cent they receive now, so expect the wheat cent population to diminish as people rediscover them.
Oooooooohhhhhhhhhhh...I sure hope not. I have a hard enough time getting any now from the rolls I search. All of the posts I read about any of you finding them and your percentages seem to be way higher than what I am getting for wheats.
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 12/12/2008 : 22:09:44
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There has been a "huge infusion" of zincs every year since '82.
Probably expect another 1% drop in copper next year... |
Beer is my currency. |
Edited by - TXTim on 12/12/2008 22:10:11 |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 12/13/2008 : 07:24:59
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If copper prices stay down, I don't expect the number of people sorting to continue to rise.
Has the number of new members changed in the the last month since the price dropped?
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n/a
deleted
13 Posts |
Posted - 12/13/2008 : 11:51:50
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| For those looking to hoard copper, purchasing a copper futures contract and taking delivery looks good at these prices! |
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barrytrot
Administrator
USA
721 Posts |
Posted - 12/13/2008 : 12:19:36
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| Yes, that's just what my wife would like to here me say, "hun, I have a 25,000 pound shipment of copper coming, would it be ok if you helped me carry it downstairs?" |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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n/a
deleted
84 Posts |
Posted - 12/21/2008 : 15:32:55
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quote:
Originally posted by RETMON
For those looking to hoard copper, purchasing a copper futures contract and taking delivery looks good at these prices!
I've actually thought about doing that but what would show up, scrap, bullion bars? |
I currently have no signature. |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 12/21/2008 : 17:34:26
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The 95% Cu disk is the best bang for the buck available today (unless you can access 99% CU disks from the Great White North).
HCBTT says it best:
"If your %'s are low sort more, if your %'s are high sort more."
Cu WILL GO UP, when and how much is a matter for much speculation but, Cu WILL GO UP.
Bottom line, sort more faster, and stay in for the long haul!
If you can find Cu in bulk, that includes scrap for less than 95% disks, snap it up.
If you personally value bars and have fiscally sound (realistic) buy/sell ratios or goals then it's for you to decide if you want to purchase.
But, remember, Cu WILL GO UP. How long do you want to wait is, again, a matter of much speclaton.
RE 2009:
Keep any and all 2009's you find, you can decide to dump, sell or package for future generations in 2010. |
There's profit if you melt things!!
8{> |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 12/21/2008 : 21:29:46
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| With copper contracts, you would lose the Face Value. The FV is what gives pennies their unique advantage over just hoarding copper. No matter what happens to copper prices, you have a penny. No matter what happens to the dollar you have 1/10 troy oz of 95% Cu. |
"99% of all lawyers give the rest of them a bad name" 
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So what happens in 2009?
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