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3 Posts |
 Posted - 05/24/2009 : 19:38:11
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I just found this website and I found it interesting. Where do you guys get your pennys? Do you just go to the bank and ask for them?
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/24/2009 : 19:42:42
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quote:
Originally posted by LoneStar
I just found this website and I found it interesting. Where do you guys get your pennys? Do you just go to the bank and ask for them?
Welcome to the forum!!
Yes, most of us get them straight from the banks. You need to form a good realtionship with a bank to get pennies, and a differnt bank to get rid of the zinc pennies.
Theres a few other ways to get pennies, but you really have to have connection to be able to get them.
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Copper Penny Investing
www.portlandmint.com |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/24/2009 : 19:48:19
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if you want more than $25 from a bank at a time, you should put in an order and get it later that week. They try to keep enough on hand for business clients, which means maybe $50-75 at the most. If you take their pennies, they may become short.
I recently found a good bank where sky is the limit (to an extent) in orders. My current order stands at 12 boxes per week. |
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3 Posts |
Posted - 05/24/2009 : 19:48:45
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| I'm sorry, but can you explain why I need to have a good relationship with a bank to get pennies? Should I ask for a roll, a bag, or some other form? Do you take the zink pennies to another bank because the first bank would just get tired of seeing you? |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/24/2009 : 19:57:08
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quote:
Originally posted by LoneStar
Do you take the zink pennies to another bank because the first bank would just get tired of seeing you?
Let me put it this way, how would you feel if you owned a store, and a customer buys a 100 lb bag of rice. Then comes back the next day and tries to return 80 lbs. How many more bags of rice do you think you'll be selling him in the future? |
Edited by - buyingsilvers on 05/24/2009 19:58:37 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/24/2009 : 21:00:50
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Welcome to the forum LoneStar.
If you have lots of zinc pennies you usually have to take them back to several banks or they will cut you off at some point. How many you ask for depends on how many you want, how many you can afford, and what you think the bank will sell you. One member here once asked for $10,000 worth. He didn't get them, but he asked. Most of us ask for a more modest amount.. like 24 boxes at a time, or maybe just one box or bag if you are just starting out.  |
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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Kurr
1000+ Penny Miser Member
2906 Posts |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/24/2009 : 22:05:55
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quote:
Originally posted by Kurr
Some of us have even been known to buy copper from the "take a penny cup" by the register when we, I mean they, see them.
Aha, I knew I wasn't the only one. |
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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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/25/2009 : 00:55:26
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| I've acquired pennies right members here... but mostly I just buy from banks. I sell the ones I don't like to other banks. Sometimes I even spend some of the ones I don't like. |
“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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deleted
478 Posts |
Posted - 05/25/2009 : 09:25:21
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| When you do your normal banking, ask for a box of pennies. If they ask why, tell them you have an elderly relative who likes to keep busy by searching for old pennies. This always gets a nice smile from the woman behind the counter. Always take your zinc back to a different bank than the one you are buying from. If you live near a city, go to branches located in poor areas. Hard economic times = change jars being cashed in. Go late in the afternoon. Many customers have been bringing in rolled change all day long and the bank staff is more than happy to get rid of it before the shift ends. You also have a better chance of finding old wheat cents this way. I'm just a casual hand sorter and this works for me. If you want to go large scale, you'll have to order pennies and talk to the pros here on this forum. Hope this helps. |
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phillips24
Penny Pincher Member
USA
142 Posts |
Posted - 05/25/2009 : 14:42:56
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quote:
Originally posted by CuproNickle
When you do your normal banking, ask for a box of pennies. If they ask why, tell them you have an elderly relative who likes to keep busy by searching for old pennies. This always gets a nice smile from the woman behind the counter.
I think your best bet is to always show a "degree" of honesty. You don't have to tell the whole truth that you're sorting coppers to sell on speculation of a higher copper price etc.... I always say that I'm a collector looking for old coins. Simple and not untruthful, although not the full truth. They don't need to know anything in the first place and a short answer should satisfy. |
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478 Posts |
Posted - 05/25/2009 : 15:20:47
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| A lie is a lie, no matter how small the "degree" of honesty. I only use this excuse when the lazy young honey behind the counter questions me as to why I need a box of pennies. Some of them get pretty upset if they have to walk over to the vault to get a whole box. You can hear them huffing and puffing as they close up the booth for the 10 yards of round trip walking. I suppose I could just tell them it's none of their business but that would be rude. You can do as you wish but this one works for me and no harm is done. The real reason we are doing this is for profit. Coin hoarding is frowned upon in many parts of the world these days. Banks don't need to know what you are doing. If they did, we wouldn't be able to buy any pennies at all unless you had a commercial account. |
Edited by - n/a on 05/25/2009 15:27:24 |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 05/25/2009 : 19:20:24
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| Welcome LoneStar! Nice user name, you must be from an awesome state!!! |
"May your percentages ever increase!" |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/25/2009 : 19:21:38
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| Don't tell me this guys from texas? |
Trolling is an art. |
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GA-Silver
Penny Pincher Member
USA
238 Posts |
Posted - 05/25/2009 : 19:25:04
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| I'm new to this penny hoarding too LoneStar! |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/25/2009 : 19:45:32
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I'm new too. |
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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/26/2009 : 06:23:00
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LoneStar, and anyone else I missed over the past few days, welcome.
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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vrbsroma
Penny Collector Member
394 Posts |
Posted - 05/26/2009 : 11:12:05
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quote:
Originally posted by CuproNickle
When you do your normal banking, ask for a box of pennies. If they ask why, tell them you have an elderly relative who likes to keep busy by searching for old pennies. This always gets a nice smile from the woman behind the counter. Always take your zinc back to a different bank than the one you are buying from. If you live near a city, go to branches located in poor areas. Hard economic times = change jars being cashed in. Go late in the afternoon. Many customers have been bringing in rolled change all day long and the bank staff is more than happy to get rid of it before the shift ends. You also have a better chance of finding old wheat cents this way. I'm just a casual hand sorter and this works for me. If you want to go large scale, you'll have to order pennies and talk to the pros here on this forum. Hope this helps.
Agreed. If I were to list the levels of sorting:
1) Hand sorting CWRs as above
2) Hand sorting CWRs as above and ordering small wuantities of boxes from banks or bags from CUs ($100-200 max)
3) Machine sorting (Ryedale) large bank orders (greater than 2-300)
Just my $0.02 |
As far as I know, it is stated "In God We Trust" on the US dollar. How can I trust this currency if I do not believe in God?
Possession is nine-tenths of the law.
When I give my two cents, they're always copper! |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 05/26/2009 : 17:44:11
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I thought LoneStar was Barf-all-a-mew’s sidekick.
Just a few points that might make it a little more simple.
We know that a roll of cents is $0.50.
A box (or brick) of cents is $25. Depending on the bank chain some use $25 or $50 bags.
If you are not aware there is a melt ban on. Which means even though the U.S. copper cent has more copper than face value the MINT has made a LAW that it is ILLEGAL to melt the cents.
DON’T MESS WITH THIS. We are not going to affect the legality of this here.
Most of us are patriotic citizens who support the U.S. Constitution.
I am very small time, $5-10 a week at most. Most of the banks around me do not like to give up their cents, but I find if I ask for less than $10 a week they don’t put up a stink.
It only takes having the cops called once for “suspicious activity” over “$25 in pennies” to really cut down on what you are doing.
The biggest thing is to be friendly and tell the truth. Do your best to let the tellers know you are there for legitimate reason and not just to bug them. When I am asked what I need all those pennies for I tell them, “a small business on the side.” It is, I do a little business. I use it mostly for stress relief, and I have never sold any cents.
I try to keep my pick-up and drop off banks as far a part as I can. I don't want to resort what I have already done, and I don't want them talking about my business.
Some folks here a big time, they sort more cents in a few minutes than I have. It is not the size it is how you use it.
Welcome, Hope this helps.
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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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deleted
5 Posts |
Posted - 05/27/2009 : 00:33:49
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| Howdy Lonestar, I am new to this group but have been in this hobby for 1 year this June and love it. This is a great group. What good advice they share. Prepare yourself for just how odd bank tellers are. They forget you are the customer and lord over you. You have the power.. take it. This hobby is not only about hoarding copper, It can also fill holes in a coin collection. Have fun |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/27/2009 : 00:46:13
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The great thing about this hobby is everyone can participate at whatever level they want.. whether it is a level 1 hand sorter, a level 2 serious hand sorter, a level 3 machine sorter, or even those that have gone off the deep end and might be considered a level 4 sorter.. multiple Ryedales, multiple counting and automatic rolling machines, and regular $600 pickups at several banks.
Lots of great folks on this site that share stories and ideas. A big part of the enjoyment for me is reading about my fellow members' experiences and vicariously enjoying their good fortune. |
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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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 05/27/2009 : 21:50:13
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| In case you didn't catch it... HoardC. is not a new member, just check his number of Posts!! :P |
"May your percentages ever increase!" |
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