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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 02/22/2007 : 20:03:48
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If all the pennies in circulation and hoarderd went to scrap tomorrow what price effect do you feel it would have on the price of copper and/or zinc?
Before you answer you might want to view this first --------
You must be logged in to see this link. Scroll down to all the pennies in circulation.
"Current estimates by the U.S. Mint place the number of pennies in circulation at around
140 billion. Others have estimated as many as 200 billion currently circulating. Since the
first penny was minted in 1787, until present-day, over 300 billion pennies have been minted
in the United States. So that leaves about 100 billion pennies that have been retired by the
Mint, lost down sewer drains, stored in jars, smashed by trains, or collected by numismatists
in the past 200 years."
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Burn paper dollars before you melt coins.
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Edited by - Ardent Listener on 02/22/2007 20:22:45 |
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Ridewithme38
Penny Sorter Member
USA
79 Posts |
Posted - 02/22/2007 : 20:15:53
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i would think...just my opinion...that the extra copper available would cause the price to drop..i don't think it would drop much...maybe 10 cents...but imagine all the extra money we'd all have in our pockets
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RUNNING TOTAL:
2223 Copper
43 wheat
20 canadian
1 Guatemala coin?(1979)What is this made of?
and a 250gram .999 pure copper bar(Jetco USA) |
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Ryedale
Administrator
USA
523 Posts |
Posted - 02/23/2007 : 00:25:36
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Ardent,
Thanks for posting this, I remember this from the other site. I would like to use this when people tell you they do not have room for storing pennies. If you have room for a laundry basket for instance, you have plenty of room for pennies. Thanks Ryedale.
Ryedale
Hoard Copper Pennies,
The market will develop |
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beercritic
Penny Pincher Member
USA
112 Posts |
Posted - 02/23/2007 : 09:47:04
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Well, I see it this way:
The mint recently declared the cent as 'illegal to melt'. One would assume that they were LEGAL until that time. That edict, removed the cents from the available copper to be melted, and what happened to the price?
Less copper on the market = greater price, right? Nope. Copper shuffled lower on the news. Must be WAYyyyyy more copper on the market than is contained in cents.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/24/2007 : 17:55:49
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quote:
Originally posted by Ryedale
Ardent,
Thanks for posting this, I remember this from the other site. I would like to use this when people tell you they do not have room for storing pennies. If you have room for a laundry basket for instance, you have plenty of room for pennies. Thanks Ryedale.
Ryedale
Hoard Copper Pennies,
The market will develop
I could never really understand those who say they don't have room for base metal coins such as pennies or nickels. Many even say they don't have enough room for silver! Even in a small apartment a guy could store a lot of coin under his bed.
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Burn paper dollars before you melt coins. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 02/24/2007 : 19:30:14
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quote:
Originally posted by Ardent Listener
I could never really understand those who say they don't have room for base metal coins such as pennies or nickels. Many even say they don't have enough room for silver! Even in a small apartment a guy could store a lot of coin under his bed.
________________________
Burn paper dollars before you melt coins.
Storage space is just like budgeting one's income, it can be done if you have the discipline to make it happen (does a piggy bank take up that much room?)
I posted the story "Ruby Cat" on how a pair of rubies were hidden in a ceramic stauette, a wise hoarder would not just take up the fine art of hoarding but the fine art of hiding (my thanks to Athiest for that one)
It all boils down to discipline, are you too lazy to hoarde metals and if need be food? If so, either develop the habit of saving even a few pennies and nickels each day, buy a little silver and gold each week or month, buy a couple extra cans of your favorite food when you go shopping, or resign yourself to the fact you are going to lose out.
I forget who said it, but it is true,
They who have a surplus control their destiny, they who do not are controlled by destiny.
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Edited by - pencilvanian on 02/24/2007 19:31:41 |
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n/a
deleted
43 Posts |
Posted - 03/06/2007 : 21:59:53
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I posted just because nobody has posted in this forum for weeks.
"Preserving coinage by the pound" |
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n/a
deleted
103 Posts |
Posted - 03/06/2007 : 22:13:08
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quote:
Originally posted by John Law
I posted just because nobody has posted in this forum for weeks.
"Preserving coinage by the pound"
Don't want it to rust up?
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The above post is intended for entertainment purposes only and in no way reflect the opinions of the flesh and blood person writing the text. All writings under the screen name "copperhead" are merely a characterization of the personna created. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/15/2008 : 18:47:02
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HoardCopperByTheTon,
This reminded me of your collection. Only kidding however you can probably relate to this.
WD |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/15/2008 : 19:57:41
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| Personally I can't wait to have so many copper pennies that storing them becomes a problem :) |
Sorting In Northwest Mississippi |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/16/2008 : 06:24:05
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| I haven't even come close to using all the available space.. heck, I couldn't afford to hoard that much copper. Amazing how much you can fit in a small footprint if you pack it properly. |
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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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 03/16/2008 : 08:15:49
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| I've never understood the whole "no space" argument either. A big Utz pretzel container holds over $100 face of copper cents. As long as my family keeps eating pretzels, I'm set! |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/17/2008 : 00:19:41
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Careful with those pretzels Ant.. one of those almost took out el presidente.. LOL!
I picked up some more 19 gallon tubs today on sale (I don't eat enough pretzels).. They have nice rope handles.. but of course you can't hardly move them once you fill them up. |
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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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/17/2008 : 08:22:18
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quote:
Originally posted by HoardCopperByTheTon
Careful with those pretzels Ant.. one of those almost took out el presidente.. LOL!
I picked up some more 19 gallon tubs today on sale (I don't eat enough pretzels).. They have nice rope handles.. but of course you can't hardly move them once you fill them up.
Attack of the killer pretzels...
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/20/2008 : 09:47:02
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| Sold some copper recently. Maybe thats why the price of copper dropped, I must have flooded the market.Buy low-sell high you don't make a profit holding onto it. |
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Topic |
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Scrap Pennies effect on metals market?
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