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deleted
478 Posts |
 Posted - 02/02/2007 : 16:44:42
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Here in NY, the '07 penny is in circulation in vast numbers.
Seems early to be seeing so many brand new pennies.
I'm getting next to ZERO pre-82 cents in change these days. In fact, the only place I seem to get them is when I do my banking. I get a few rolls at a time from the teller. These are customer rolls and I usually get around 30%. HINT: Go late in the afternoon to get customer rolls as the bank seems to use new rolls early in the day.
Someone is hoarding pre-82's in vast numbers. My guess would be Coinstar or the Feds. I'm amazed at the number people I see using these Coinstar machines at the supermarket. FWIW.
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4 Posts |
Posted - 02/02/2007 : 17:28:33
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| I think people are finally beginning to realize the true value of pre-82's and are saving them. Near Atlanta, the average copper per roll I'm getting is 12 (24%). Around the start of last year, I was consistently avereraging about 35% copper per roll. |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 02/02/2007 : 18:01:51
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Funny, I hardly ever see anyone using the coinstar machines here in central AR. Maybe some local banks aren't charging for counting coins here.
Metalophile |
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Frugi
Administrator
USA
627 Posts |
Posted - 02/02/2007 : 18:09:21
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Since the melt ban I can't help but sort 5000 a week it's almost like an addiction. I can't stop sorting!
Real Eyes Realize Real Lies
Buy Less. Work Less. Live More.
You must be logged in to see this link. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/02/2007 : 18:27:49
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I got the feeling they are going to pump out a lot of 07s as "we" and "they  " pull out the pre 82s.
________________________
Burn paper dollars before you melt coins. |
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n/a
deleted
479 Posts |
Posted - 02/02/2007 : 21:10:08
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Pumping billions of coins into circulation:
1. Allows Hoarding to Continue. (remember, I am very bullish on zinc, so I don't sort.)
2. Keeps people in the coin mindset. (as opposed to eliminating coins and making everyone use plastic)
3. Creates a "back up" system of currency for ready use in the advent of a dollar crisis.
Here are a couple of links about Zinc, in case you are curious.
China's demand
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5 year Zinc chart at Kitco
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5 year Copper chart at Kitco
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In 5 years, copper went from about $0.72 to today's $2.43, up $1.71 in 5 years, or a 70% increase.
In 5 years, zinc went from about $0.36 to today's $1.40, up $1.04 in 5 years, or a 74% increase.
So Zinc is ever so slightly ahead of copper in appreciation.
Maybe I appreciate zinc more than the market does, but I save on labor by not sorting.
.................................................
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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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 02/02/2007 : 22:21:46
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Very interesting... Down here in Austin, TX I just finished a box of 5,000 a few minutes ago. There were 0 2007's and only 354 pre-82's. That's about 7% Cu. This is actually my first box ever. Will try some other banks/sources to see the big picture.
MaDeuce |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 02/02/2007 : 22:28:10
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Heh. Welcome to the most addictive hobby on the internet.
HoardCode0.1: M28/5CAON:CA5Ni27615:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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Frugi
Administrator
USA
627 Posts |
Posted - 02/03/2007 : 08:25:28
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Madeuce. You just finished your 1st box of 2500 I think; not 5000, so your copper ratio was a little better; maybe 14% $25.00 boxes is how they come = 2500 cents. Sorting a box can seem like 5000 though; since it so time consuming.
Real Eyes Realize Real Lies
Buy Less. Work Less. Live More.
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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 02/03/2007 : 11:33:38
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Frugi, you are correct. Rather embarrassing to make as simple a mistake as that! 14% it is.
Strangely, it was a rather nice experience. Almost meditative in a way. I'd like to test about 10 different boxes/sources or so. If things turn out in the 20%+ range, as seems to be the case with most people, I'll turn to automation.
I was really surprised that there were wheat cents (~7 or so) and that the oldest was 1939. I figured that all those had been pulled by people long ago.
BTW, I just rejected all 1982 cents rather than try to guess which was which. So the correct percentage should be a little higher than 14. |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 02/03/2007 : 12:19:16
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1982's could be significant. They made a lot that year to discourage . . . hoarding! Also, it seems most of us are getting more than 50% coppers on our 1982's, when supposedly they made about the same numbers of coppers and zincs. I think the Zincolns are much more corrosion prone than the coppers, which might account for their loss over the years.
Metalophile
P.S. as for myself I put the 1982's in a separate pile and sort them into zincolns and coppers and store those in marked zip-lok bags. |
Edited by - Metalophile on 02/03/2007 12:20:23 |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 02/03/2007 : 18:43:05
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30+ days into 2007 and I haven't seen a single '07 coin yet. It was mid-March last year before I saw my first '06.
The 1982 pennies I encounter are almost always copper. Less than 15% are zinc.
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Penny Search Totals:
806 zincs (1982-2006) 77.6%
227 coppers (1959-1982) 21.8%
4 wheats (1940-1950) 0.4%
1 dime (2004) 0.1%
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/03/2007 : 18:47:47
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"Pumping billions of coins into circulation:
1. Allows Hoarding to Continue. (remember, I am very bullish on zinc, so I don't sort.)"
Atheist, Isn't that the truth?
________________________
Burn paper dollars before you melt coins. |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 02/15/2007 : 08:14:59
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Spotted my first 2007 coins last night in my change from IHOP, two shiny '07 pennies. I'm looking forward to seeing a 2007 nickel, this year's state quarters, and the new dollar coins.
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Penny Search Totals:
881 zincs (1982-2006) 77.1%
254 coppers (1959-1982) 22.2%
6 wheats (1940-1952) 0.5%
1 dime (2004)
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beercritic
Penny Pincher Member
USA
112 Posts |
Posted - 02/15/2007 : 11:14:37
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Question for the folks that sort the 82's: What percentage of copper do you typically get?
I'm guessing perhaps the mint had a load of copper slugs (perhaps most of the year's worth) on hand, when the law to change the composition came thru. "Gotta use up the coppers this year". "Gotta get the new composition on-line, too" "Can't make relatively too few of one or the other, so we're gonna make a huge amount of both."
No 07's here yet.
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 02/15/2007 : 14:55:44
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quote:
Originally posted by beercritic
Question for the folks that sort the 82's: What percentage of copper do you typically get?
I'm guessing perhaps the mint had a load of copper slugs (perhaps most of the year's worth) on hand, when the law to change the composition came thru. "Gotta use up the coppers this year". "Gotta get the new composition on-line, too" "Can't make relatively too few of one or the other, so we're gonna make a huge amount of both."
No 07's here yet.
________________
For the 1982's I've been running about 70% copper and 30% zinc. I think most others have also reported a significantly higher number of 1982 coppers than zincs. I was a teenager and beginning coin collector when they announced the switch over. From what I can remember I think they intentinally aimed for making roughly equal numbers of copper and zinc pennies that year. They also made a huge number. This was all done in an effort to discourage hoarding.
My theory is that more of the 1982 zincolns fall prey to corrosion. You see pennies on the sidewalks, in the streets, and all along the bottom of any public water fountain. Zinc is a much more electroactive metal than copper.
Metalophile |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 02/15/2007 : 15:34:13
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For 2007 cents:
Just my theory of course,
There are two mints in the US that make coins for circulation,
the Denver and Philadelphia Mints, San Francisco is used for proof coins.
Since there are only two mints that produce coins for the entire US,
it would seem that newly minted coins are shipped to the Federal Reserve Banks that are closest to the mints first, and then to other Federal Reserve banks as time passes.
The Federal Reserve banks distribute coins and paper money to various banks as they need them.
Since New York is relatively close to the Philadelphia Mint, then it would make sense that the new cent would end up in circulation in New York before, say, Montana or Oregon.
Again, just my theory, but perhaps it is close to what goes on in the realm of coin distribution. |
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21 Posts |
Posted - 02/15/2007 : 16:21:21
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Out here on eastern Long Island, I am seeing fewer and fewer pre '82s. Also very few nickels.
_______________________
M39/10USNY:US1Cu10000:US10Ag94:US25Ag22:US50Ag18
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146 Posts |
 Posted - 02/18/2007 : 14:55:38
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quote:
Originally posted by Common Cents
Out here on eastern Long Island, I am seeing fewer and fewer pre '82s. Also very few nickels.
_______________________
M39/10USNY:US1Cu10000:US10Ag94:US25Ag22:US50Ag18
Few nickels, as in all nickels? I get plenty of nickels in my change, just finished another roll. As for pre-1962 and 2005 Buffalo nickels, I haven't been getting any at all lately. The full steps (of recent years) are still going strong, though, as one person mentioned here this is partly due to the fact that 2006 nickels are designed better, though I do get other years occasionally.
--
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes
CollectorCode: M22/?:US:US1P1958:US5N1961:CA1P:AO/Ag8 |
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Ridewithme38
Penny Sorter Member
USA
79 Posts |
Posted - 02/18/2007 : 15:36:30
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I'm from Long Island also(Farmingdale) and actually have been getting pretty good odds with copper vs zinc atleast 25%...all of this is from rolls from the bank my pocket change is more along the lines of 10-15%...but i've been doing my best to pull all of the pre '82's i can on long island...maybe i'm taking all your =)
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RUNNING TOTAL:
1586 Copper
37 wheat
17 canadian
and a 250gram .999 pure copper bar(Jetco USA) |
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21 Posts |
Posted - 02/19/2007 : 07:25:09
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I mean getting any nickels in change. Now that I have rolled up all my cents and clad coins, I just make rolls as I get enough of each. For every roll of nickels I get, I have 3-4 rolls quarters and 2-3 rolls of dimes. This is just from circulation, I don't buy them from the bank. Yet.
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M39/10USNY:US1Cu10000:US5Ni3520:US10Ag94:US25Ag22:US50Ag18
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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 02/19/2007 : 07:58:52
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Just got a box of one cent pieces from the bank on Friday. It was 100% 2007 coins. That turned out to be the fastest I've ever sorted a box of coins yet! Now I know to peek before leaving the bank.
MaDeuce |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 02/21/2007 : 10:54:26
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Here in the Mid West I've seen no 2007 coins of any kind yet. I used to get $50 bags of cents from the banks but have stopped that now that the coin collecting boom is so big there is virtually nothing left in a $50 bag worth saving. Very, very few pre 1982 coins at all. And the 1982's are vanishing faster than normal due to people finally realizing there are at least 8 different 1982 Cents and some well worth over $1.50. The large dates and small dates are very noticable but it's actually the 1982 copper Plated Zinc, small date that is worth the money.
Carl |
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beercritic
Penny Pincher Member
USA
112 Posts |
Posted - 02/22/2007 : 13:50:30
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Metalophile: I agree with the theory that the Zincolns turn to crud pretty fast. As I go thru sorting the copper out, I recently started setting aside the very few zinc cents that appear flawless. Very few.
Carl: Do you have a handy dandy link as to which zinc cents we should scrutinize more?
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deleted
132 Posts |
Posted - 02/22/2007 : 15:15:01
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2007.......Havn't seen a one
To the uninformed, pocket change.
To the informed, an investment. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 02/22/2007 : 15:44:59
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quote:
Originally posted by Metalophile
My theory is that more of the 1982 zincolns fall prey to corrosion. You see pennies on the sidewalks, in the streets, and all along the bottom of any public water fountain. Zinc is a much more electroactive metal than copper.
Metalophile
Not to stray off the thread, but I did read in a boat building book that zinc blocks are used as a sacrificial metal to protect bronze parts of a boat.
The zinc gets eaten away by seawater first before the bronze parts do, saving the expense or replacing bronze parts of a boat.
I also found out, through metal detecting, that zinc cents were corroded when I dug them out of the ground, but the copper stayed intact though discolored. |
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2007 Penny is All over the Place
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