I finally got around to weighing some of my pre-1983 pennies into heavy duty clear plastic bankers coin bags. Trying to emulate the ole silver bags of pre-1964 silver.
First bag sold for $52. well under spot but above the face of $29. Shipping in a Flat Rate box is only $8.10
The shocking part to me is that Copper BULLION BARS sell for many many times the spot price!! But pennies have much better advantages! what gives?? Any ideas on how to increase the sell price???
A lot of people buy copper bullion bars not so much for an investment, but rather because they think they look cool. They would make nice bookends.
Perhaps if you market them all shined penny bright and enclose them in unwrapped rolls encased in a clear plastic container that is of a brick size ($25.00 worth). The weight would prove they are all copper (brass) pennies.
************************ For good times to come or bad times to come, now is the time to save your copper or nickel coins.
Copper bullion bars are a novelty item. Pet rocks sold well for a while, too.
I buy Eisenhower dollar coins for 10 to 20 per cent above face value, but that's the end of that. I do NOT buy Eisenhowers if the asking price (including shipping) exceeds 120% of face value. I pay above face value for a relatively scarce coin, not for a commonly available coin. I do not buy any other fiat coins for above face value. If you got 120% of face value for a widely circulated coin, you should be laughing, not complaining. I f you got more than 120% of face for your commonly available coins, you should be grinning.
My opinion is that we who hoard do so at our own risk. The inflation v. deflation debate is anything but settled. I do not expect other people to attach value to something just bcause I and a few other people think that should be the case.
The market is speaking to you. There is wisdom in learning to listen to the market.
Bags of Pennies on EBAY below spot
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Posted - 04/14/2007 : 09:34:16
