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n/a
deleted
478 Posts |
 Posted - 06/13/2009 : 18:55:20
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What is the total copper TONNAGE of all USA Lincoln cents minted from 1959-81? I figured out the first year, 1959 P only. According to coinfacts.com, 609,715,000 were minted in 1959-P which translates to around 1986 tons of copper for a single year (3971413.7299 copper lbs / 2000 lbs = 1986 tons) . I used the coinflation calculator. Please check my math. Can someone with better computer skills than me calculate the total tonnage of all USA Lincoln cents minted from 1959-81? I think the tonnage is huge as 1959 was a low production year compared to say 1981. Institutional sorting, with government approval (like the Canadian Alloy Recovery Program) could make a government connected contractor a huge profit.
Total melt value is $9419190.06.
(exact value is $9419190.06277)
Statistics:
» There are 3971413.7299 pounds of copper and 209021.7753 pounds of zinc in $6097150 face value of copper cent(s).
» A roll of copper cent(s) has 50 coins and is valued at $0.77 when copper is at $2.3329 / lb and zinc at $0.7381 / lb (exact value is $0.772425646636).
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Edited by - n/a on 06/13/2009 19:32:01 |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/13/2009 : 19:02:06
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| that's not much of a profit. |
Trolling is an art. |
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billsattic
Penny Sorter Member
USA
47 Posts |
Posted - 06/13/2009 : 19:04:40
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| better check those numbers - 609+ million for p, 1.2+ billion for d for a total just under 2 billion. Goto coinfacts.com ... its a great site for mintage numbers although missing recent figures. |
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n/a
deleted
478 Posts |
Posted - 06/13/2009 : 19:24:26
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| Thanks for the correction. I tried to correct it. I'm not too good at this stuff. I hope a math wizard takes over from here. The tonnage seems huge. As far as profits are concerned, a .50 cent roll of copper pennies is worth over .77 cents in copper melt value alone. A government connected contractor assigned to "alloy recovery" could make a huge profit, even at todays low copper prices. |
Edited by - n/a on 06/13/2009 19:32:38 |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 06/13/2009 : 20:00:49
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The total number of copper pennies minted from 1959-1981, including proofs is 57,550,534,108. Assuming 145 pennies/pound, there were 198,450.1 tons (2000 pounds) of pennies minted. If the price of copper is $2.3329/pound, then the price of copper is $4665.80/ton. If the price of zinc is $0.7381, then the price of zinc is $1476.20/ton.
A penny is composed of 95% copper and 5% zinc approximately. Therefore, there were 188,527.6 tons of copper and 9922.5 tons of zinc used to mint all these pennies. The intrinsic value of all these coins is approximately: $879,632,076 for the copper used and
$14,647,594 for the zinc used. Total metallic value for all these pennies is $894,279,670.  |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/13/2009 : 20:24:54
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billsattic,
are you the hoader i have heard rumors about.
i think ryedale has some info on the number of coppers out there.
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You don't have to be the BEST you just have to be.......SLICK
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n/a
deleted
478 Posts |
Posted - 06/13/2009 : 20:59:18
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$894 Million US Dollars in copper for a potential "alloy recovery program" like they are doing in Canada.
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Edited by - n/a on 06/13/2009 21:02:45 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 06/13/2009 : 22:13:32
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quote:
Originally posted by CuproNickle
$894 Million US Dollars in copper for a potential "alloy recovery program" like they are doing in Canada.
Dont think the U.S will ever smarten up and do that! |
Copper Penny Investing
www.portlandmint.com |
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mooski
Penny Sorter Member
USA
61 Posts |
Posted - 06/14/2009 : 03:10:49
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First, it's been awhile since I've been here - sorry kids...
If there's 'just' a billion dollars in copper in circulation, how likely would the US Gov't try to get at that money?
What would be telling is to have someone figure out how much the Canadians made on their nickel party they had a few years ago... |
Sorting and hoarding in Seattle, WA |
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n/a
deleted
478 Posts |
Posted - 06/14/2009 : 07:14:57
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quote:
Originally posted by mooski
If there's 'just' a billion dollars in copper in circulation, how likely would the US Gov't try to get at that money?
What would be telling is to have someone figure out how much the Canadians made on their nickel party they had a few years ago...
Just think what a juiced in private contractor could earn from any official government alloy recovery program. It's all about dishing out the favors. I seem to remember there was a scrap metal dealer (maybe in Ohio?) who had a congressman trying to allow his company to sort and melt US pennies a couple of years back.
The Canadian Alloy recovery program: Canada has around 1/10th the population of the USA so one could assume they have 1/10th the coinage? I'd like to see the cost figures associated with the Canadian program also. If the USA sold all the copper based coinage (quarters, dimes, nickles, pre-82 cents) and replaced it with steel coins, the profits for a private contractor could be huge. Of course our government is too stupid to ever do this. |
Edited by - n/a on 06/14/2009 07:16:55 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 06/15/2009 : 00:55:46
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quote:
Originally posted by CuproNickle
quote:
Originally posted by mooski
If there's 'just' a billion dollars in copper in circulation, how likely would the US Gov't try to get at that money?
What would be telling is to have someone figure out how much the Canadians made on their nickel party they had a few years ago...
Just think what a juiced in private contractor could earn from any official government alloy recovery program. It's all about dishing out the favors. I seem to remember there was a scrap metal dealer (maybe in Ohio?) who had a congressman trying to allow his company to sort and melt US pennies a couple of years back.
The Canadian Alloy recovery program: Canada has around 1/10th the population of the USA so one could assume they have 1/10th the coinage? I'd like to see the cost figures associated with the Canadian program also. If the USA sold all the copper based coinage (quarters, dimes, nickles, pre-82 cents) and replaced it with steel coins, the profits for a private contractor could be huge. Of course our government is too stupid to ever do this.
The company that was doing this is called Jackson Metals In Jackson county Ohio. They were melting copper pennies in high volume before the ban went into effect! Yes, the Ohio Congressman was trying to let Jackson metals be an exception to the ban. Very little known fact about the company is that they also sort for silver halves
There is very little information on the internet about the metal recovery program. I was doing some reasearch awhile back and found out that the CRM DOUBLED their income since the activation of the recovery program. If I recall the numebrs correctly is was like $18million a year just from the alloy recovery program. (This number may be wrong, but I remeber seeing it someplace) They also didnt do this recovery program in every single area in Canada. It was mainly focused in the bigger more populated areas.
Yes, if the U.S government every started sorting out the copper pennies they could make MILLIONS apon MILLIONS!! It would be so easy for them to do this too! Our gov is to focused on loseing money than to think of something like this. They would rather just pass a melt ban so no one else can do it! |
Copper Penny Investing
www.portlandmint.com |
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billsattic
Penny Sorter Member
USA
47 Posts |
Posted - 06/15/2009 : 08:41:13
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| yes... I have a nice stash 3.3 million coppers... I have just started actually pulling some dates out. So far, I have 75-80 pounds of just 1959 p for example. I have a 5 gallon tote worth of wheats. Also, putting 80-82 in gallon jugs in hopes to cash in first . I have stopped sorting and sold my 2 ryedales - 1 bought from Andy and another used one I bought on Ebay. I probably will never completely seperate out my key dates in my lifetime, but it keeps me busy when I am bored. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 06/15/2009 : 10:30:46
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quote:
Originally posted by billsattic
yes... I have a nice stash 3.3 million coppers... I have just started actually pulling some dates out. So far, I have 75-80 pounds of just 1959 p for example. I have a 5 gallon tote worth of wheats. Also, putting 80-82 in gallon jugs in hopes to cash in first . I have stopped sorting and sold my 2 ryedales - 1 bought from Andy and another used one I bought on Ebay. I probably will never completely seperate out my key dates in my lifetime, but it keeps me busy when I am bored.
Your time is much better spent sorting more! Sorting out by dates is pointless...unless you come across a key date! But the chances of that are very very slim. |
Copper Penny Investing
www.portlandmint.com |
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billsattic
Penny Sorter Member
USA
47 Posts |
Posted - 06/15/2009 : 11:01:30
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I hear you, but I enjoy looking at them. I spent 4 years pulling by hand and machine. I don't think the increased value we all hope for will happen in my life time (I am pretty old). Here is hoping though!
Its a form of relaxation therapy I need. Maybe my kids will appreciate it though. Did find a 1955 double die a week back in good+ condition. Its like opening presents all day long and I have plenty to go... |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/15/2009 : 13:17:39
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I saw the one you had on e-bay a while back. I thought about bidding on it.
11 tons is a good start.
Having 11 tons is still way ahead of the curve and will make a great payday one day. |
You don't have to be the BEST you just have to be.......SLICK
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 06/17/2009 : 13:40:02
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quote:
Originally posted by highroller4321
Yes, if the U.S government every started sorting out the copper pennies they could make MILLIONS apon MILLIONS!! It would be so easy for them to do this too! Our gov is to focused on loseing money than to think of something like this. They would rather just pass a melt ban so no one else can do it!
Yep, big money for governments that devalue their currency. In fact, it can be done on zinc, aluminum, paper, electronic or any kind of money. Just make money cheaper, then reap the old stuff and tell taxpayers how much money they've saved the treasury by doing it.
That's why many of us are trying to beat them at their own game by building a hoard. But, they'll probably keep it illegal forever, or else, redeemable only at Official Government Rebate Coin Centers.
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Trust the government? Ask an Indian. |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 06/17/2009 : 16:38:34
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| I often wonder what % of the minted CU's ended their journey in landfills or met corrosion etc. Meanwhile, some are ending their journey at my little hoard that grows and grows... |
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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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 06/17/2009 : 17:24:34
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Mintages pulled from You must be logged in to see this link.
84,634,798,777 P from 1909-1981 (13,307,053,933 wheats)
75,828,204,074 D from 1909-1981 (8,852,866,400 wheats)
5,686,072,531 S from 1909-1981 (2,564,191,004 wheats) (Does NOT include proofs)
Total 166,149,075,382
Total divided by 147 = 1,130,265,818.925 (rounded)
That number divided by 2000 = 565,132.909 (rounded)
So there you have it boys and girls! 565,132.909 TONS of copper pennies were minted
166,149,075,382 Divided by 100 = $1,661,490,753.82 Face Value
Todays copper price 2.237 Times 2000 = 4474
565,132.909 Times 4474 = $2,528,404,634.86 Total value
2,528,404,634.86 Minus 1,661,490,753.82 = $866,913,881.04 Differnce!!!!!
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Copper Penny Investing
www.portlandmint.com |
Edited by - highroller4321 on 06/17/2009 17:55:43 |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/17/2009 : 18:08:19
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quote:
Originally posted by highroller4321
Mintages pulled from You must be logged in to see this link.
84,634,798,777 P from 1909-1981 (13,307,053,933 wheats)
75,828,204,074 D from 1909-1981 (8,852,866,400 wheats)
5,686,072,531 S from 1909-1981 (2,564,191,004 wheats) (Does NOT include proofs)
Total 166,149,075,382
Total divided by 147 = 1,130,265,818.925 (rounded)
That number divided by 2000 = 565,132.909 (rounded)
So there you have it boys and girls! 565,132.909 TONS of copper pennies were minted
166,149,075,382 Divided by 100 = $1,661,490,753.82 Face Value
Todays copper price 2.237 Times 2000 = 4474
565,132.909 Times 4474 = $2,528,404,634.86 Total value
2,528,404,634.86 Minus 1,661,490,753.82 = $866,913,881.04 Differnce!!!!!
WOW! That's a lot of copper pennies. So, if you got 5.6 tons of coppers in your stash, you've only got 1/1000 of a percent of all the copper pennies minted. Hardly scratches the surface of the big copper mountain. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Total TONS of Copper used in Pennies from 59-81?
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