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sheba
Penny Pincher Member
USA
191 Posts |
 Posted - 06/05/2009 : 23:53:52
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Hello all,
I'd like to hear from anyone what your thoughts are regarding getting pennies from small town-rural environment type banks as opposed to picking them up from banks in larger cities. Are there better chances for finding more copper and wheaties, etc. if picking up from small town banks?
Thanks for your thoughts! 
sheba
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woof ... wag ... whine |
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chris6084
Penny Collector Member
303 Posts |
Posted - 06/06/2009 : 09:35:53
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| That depends if you get customer rolls or brinks rolls. Most small/rural towns, from my understanding get coin deliverys from the nearest large city. Your percentages from those boxes should be the same as ones in the nearest city. |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 06/06/2009 : 10:00:39
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I offered my opinion on this a long time ago.......I am guessing that remote, low growth areas like ND, SD, NE, WY, ID, etc.....have not had a need for new penny influx along with recent (past few decades) population growth.....while place like Phoenix, Atlanta, LV, LA, etc have had a population boom that caused the FED to issue more new pennies in those areas.
That is my best guess as to why CA guys get under 15% while ND guys get nearly 40%.
So, it is not so much Rural AS IT IS Population Growth dynamics in the past few decades....ESP SINCE 1982... |
Edited by - c140cessna on 06/06/2009 11:55:37 |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 06/06/2009 : 10:11:35
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c149cessna ... honest question ... would you include states such as KS, MO, IA, and some further south such as KY, TN, etc. in your assesment?
Thanks!
sheba |
woof ... wag ... whine |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 06/06/2009 : 12:00:57
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quote:
Originally posted by sheba
c149cessna ... honest question ... would you include states such as KS, MO, IA, and some further south such as KY, TN, etc. in your assesment?
Thanks!
sheba
My guess is, yes.....
That said, it has to do with where the pennies get distributed from....which Fedewral Reserve Branch/District. Example...there are 13 FED Districts.....I could probably name most off the top of my head....but for sure...Cinci, Atlanta, Nashville, Atlanta...so eastern, TN may be served by Atlanta.....central KY by Cincinati....so it kind of ties back to that relationship as well.
Perhaps there was very little growth in Burning Cross, TN....but since it is served by Atlanta...it may have very low penny copper %.
BTW: there is no Burning Cross, TN (as far as I know...)....I just made that up.... |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/06/2009 : 12:23:30
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I live in a small town in SC. I get 22% copper yield.
I live 25 miles south af Charlotte NC. Banking capital. BOA corporate office skyscraper is located there.
I am also located 4 hrs from ATL and Columbia SC is an hour away.
So even if I drive to the boonies, way past where the cows live, I am still gonna be getting boxes from the same FED. Now CWR's might be a different story but then again. Where did they get their pennies? From change at the store that got their change from the FED.
The growth around me is high. You should see the growth around Lowe's Motor Speedway...and now there is a NHRA track there too.
$300,000 houses were popping up like weeds. Heck I pass housing developments in Charlotte all the time with houses STARTING in the $800,000 range. (and they are on a postage stamp sized lot) |
You don't have to be the BEST you just have to be.......SLICK
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Edited by - slickeast on 06/06/2009 12:27:22 |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 06/06/2009 : 18:31:43
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| I have been going through pennies in the Dakota's for about 5 years now. My percentage are going down to the point I am at about 25-30%. I know that in ND all coins comes from the state bank of ND. that is where are extra coins go back to. So it is a circle. Almost all coins are bag or wrap with very little boxes like Binks. So no one is pulling them out like Binks and I think that the difference. |
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n/a
deleted
15 Posts |
Posted - 06/07/2009 : 16:34:05
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| My experience has been that here in DC, about 22% is the norm (down from about 24 or 25% 3 years ago), whereas in WV 27% is about average. Pittsburgh, PA is also about 27%. Also, I don't keep 1982's, so this might skew the numbers in some people's opinion. This has always been one of the most intriguing questions of penny sorting : Why the differences in location? |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 06/07/2009 : 17:12:43
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quote:
Originally posted by slickeast
I live in a small town in SC. I get 22% copper yield.
I live 25 miles south af Charlotte NC. Banking capital. BOA corporate office skyscraper is located there.
Used to be the case. Unfortunately now the global banking HQ is Washington, DC. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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dp2007
Penny Pincher Member
130 Posts |
Posted - 06/08/2009 : 07:59:44
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centavito,
From my experience not counting the 82's will skew the percentages. Keep in mind that normally 80% or more of the 82's are copper. I generally find anywhere from 60 to 80 82's in a box of 2,500. So let's say 80% of 70 82's are copper-- that's 56 copper. My averages are 525 copper per box (21%). Subtract the 56 82's from the total I now have 469 copper or 18.7%. Big difference. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 06/10/2009 : 02:24:01
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From my experience in IA an SD I would say this:
Yes, on average the copper percentage is going to be a little higher. I would say on average maybe 5%.
The only problem is small little banks dont have a lot of pennies, so its a lot harder to get very many. I found it hard to even get a $50 bag from them! |
Copper Penny Investing
www.portlandmint.com |
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n/a
deleted
478 Posts |
Posted - 06/10/2009 : 17:28:48
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| I would think metro areas, poor inner city neighborhoods, would yield higher copper percentages than rural areas. They have for me in the past. I've bought bank pennies is both rural and inner city locations. Inner city is the place for the best scores. Go late in the afternoon in the worst possible neighborhood bank you can find. The banks with the armed guards in the lobby, 2" ballistic glass to protect the tellers and the sliding cash drawers between customer and bank employee. Highest yields I've ever had were from these types of banks. Of course you get the nasty stuff also. Ashtray coins that stink of cigarettes, weed and God knows what else. I've had to shower after sorting boxes from these banks but I've hit some massive wheat cent yields. The rule of thumb is: Hard times = penny jars being rolled up and cashed in. Who gets hit harder than inner city neighborhoods? |
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 06/20/2009 : 13:34:05
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| Has anyone thought of creating an online map where you can post your location and copper %. We could also layer on population growth rates, and Fed locations. That would make it really easy to track. I think it's possible to do with Google Maps. |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 06/20/2009 : 14:10:59
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quote:
Originally posted by brian0918
Has anyone thought of creating an online map where you can post your location and copper %. We could also layer on population growth rates, and Fed locations. That would make it really easy to track. I think it's possible to do with Google Maps.
Already one kinda.
You must be logged in to see this link.
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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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 06/20/2009 : 14:58:11
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| In fact my local bank never order any pennies in they are happy being a dump bank. They send the coins but to the fed for me. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 06/22/2009 : 22:03:15
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Since asking the original question my wife and I have been driving around rual areas with small towns that have one or two banks (at the most), and picking up 10 - 20 rolls each bank. Being retired, we have the time and its fun and relaxing once in awhile (though I am not sure about the trade off of copper vs the 'cost of gas'  .
Anyway ... we get quite a few CWR or local bank WR ... I am wondering if small town local banks possibly keep whatever pennies come in and 'roll' them, rather than ordering boxes in?
In any case, we don't get many wheats, but usually average 15 coppers per roll ... with some rolls as high as 20-25.
No rare errors or dates, but some really nice UNC early memorial dates and good amount of 'S' mints.
I'm positive there is a 1914 D in one of these rolls ... or perhaps a 1972 double die .
Happy hunting, everyone! 
sheba |
woof ... wag ... whine |
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n/a
deleted
18 Posts |
Posted - 06/22/2009 : 22:32:38
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| In my whole week of doing this I am getting 22% copper here in central Oklahoma north of Oklahoma City |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 06/23/2009 : 13:21:32
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I live in a small town. It only took a week or two to catch most of the copper cents circulating in town. Any more the only time I see copper cents is when someone dies and thier change is sent to THE bank.
When I am in the city is where I pick up and drop off change. |
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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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 06/24/2009 : 14:00:54
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quote:
Originally posted by sheba
Since asking the original question my wife and I have been driving around rual areas with small towns that have one or two banks (at the most), and picking up 10 - 20 rolls each bank. Being retired, we have the time and its fun and relaxing once in awhile (though I am not sure about the trade off of copper vs the 'cost of gas' .
Anyway ... we get quite a few CWR or local bank WR ... I am wondering if small town local banks possibly keep whatever pennies come in and 'roll' them, rather than ordering boxes in?
In any case, we don't get many wheats, but usually average 15 coppers per roll ... with some rolls as high as 20-25.
No rare errors or dates, but some really nice UNC early memorial dates and good amount of 'S' mints.
I'm positive there is a 1914 D in one of these rolls ... or perhaps a 1972 double die .
Happy hunting, everyone!
sheba
Glad that you and the wife are enjoying a "together" hobby.
Try taking those road trips searching for smaller banks when you have another need to be driving that way. Or map out a route on a Friday when there might be some yard sales where treasures could be found along with some smaller banks, pack a picnic lunch or treat yourself to lunch out at a small mom & pop type restaurant, and just enjoy your time spent together.
If done right, this can still be inexpensive entertainment.
Continued enjoyment. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 06/26/2009 : 22:29:27
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quote:
Glad that you and the wife are enjoying a "together" hobby.
Try taking those road trips searching for smaller banks when you have another need to be driving that way. Or map out a route on a Friday when there might be some yard sales where treasures could be found along with some smaller banks, pack a picnic lunch or treat yourself to lunch out at a small mom & pop type restaurant, and just enjoy your time spent together.
If done right, this can still be inexpensive entertainment.
Thanks for the great ideas! We actually are doing that very thing. Mapping routes that take us through small towns, just large enough to have at least one bank, staying off the interstate and enjoying the 'sane' driving and traffic on the 'back road-2 lane highways'
Actually, now I am finding that my wonderful wife is enjoying going through penny rolls as much as I. It's a great 'together' hobby!
sheba |
woof ... wag ... whine |
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Rural Advantage?
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