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centsless
Penny Pincher Member
119 Posts |
 Posted - 05/12/2007 : 17:28:27
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I am rather new to this and was surprised at what happened today. wondering if i should be or not. i went to my bank and got 10 rolls of pennies. they were hand wrapped. Of the 500 pennies , only 54 were zinc. there were 18 '82s and the remaining 428 were copper. Somebody did almost exactly the opposite of what i was doing, they returned copper pennies to the bank. about 100 of the older dates were in BU condition, majority of those were 1959 and after. also got a 46, 56D and 57 all in AU. is there something i dont know that i should? should i stop hoarding copper pennies? or is someone just desperate for cash and breaking the piggy bank? most of the 82s and 83s were bu also.
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deleted
103 Posts |
Posted - 05/12/2007 : 17:39:29
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That was me centless. The jig is up. No reason to hoard copper cents anymore with the melting ban.
Not really. My guess that who ever it was that turned them in had no idea what value they held. A lot of folks hold onto coins for years and then do the same. What do you think is going to happen to all those state quarters that were push on us a while back? Most folks will get tired of having them hang around the house in a few years and cash them in. In most cases it's not that they are desperate for cash.
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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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centsless
Penny Pincher Member
119 Posts |
Posted - 05/12/2007 : 17:49:46
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| thanks for the reaffirmation, copperhead. i just recently started doing this so i was not expecting to see what i saw today. i noticed some of the nicest BU coins were in years which had major double die errors, like the 61D and 83. On ebay many people will sell you rolls of those pennies unsearched (or so they say), giving you the idea that you may find an error coin in them. however there was such a wide range of dates in BU that it did give me the impression that this was a piggy bank in existence for 40+ years. i should go back to that bank and see just how big that piggy bank was and how many more rolls they have like that. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 05/12/2007 : 17:57:23
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I agree most folks don't know what they have, changewise, and simply take the coins to the bank for paper money or to deposit into their accounts.
Another theory: When a person passes away or has to go into a nursing home, the relatives have the difficult task of cleaning out the house and trying to get rid of stuff that was accomulated over the years or decades. (This happened to my family so I know it first hand.)
Sometimes loose change is found in jars or drawers, and for the uninformed, these coins are just coins destined for coinstar or the bank. Searching for rarities among the coins isn't given top priorty by the uninformed (My relatives were the informed, but only common wheat cents found, no silver.)
Again, just my theory.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
Edited by - pencilvanian on 05/12/2007 21:12:50 |
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c140cessna
Penny Collector Member
USA
419 Posts |
 Posted - 05/12/2007 : 23:28:08
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| I ran into the same thing a few weeks ago. Asked the bank teller where they came from, and she said, an estate....kids were cleaning out the house. 5 boxes of 100% copper. These were even sorted and rolled by date. I went back and asked for all they had. |
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centsless
Penny Pincher Member
119 Posts |
Posted - 05/13/2007 : 10:24:54
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| did you get any more? |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/13/2007 : 12:43:04
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Sometimes you get lucky. Yesterday I got a box that had 2322 copper out of 2500 coins. Best box I ever got. When you get something like that you go back and ask the bank for all they have. You have hit a main vein in this little copper mining adventure of ours. Hope you went back and got some more.
"Preserving coinage.. 2 tons at a time"
HoardCode0.1:M48/14USCA:US1Cu639700:US5Ni2400:CA5Ni46 |
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centsless
Penny Pincher Member
119 Posts |
Posted - 05/13/2007 : 15:48:56
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unfortunately it was a saturday just before the bank closed, so i will try to go back on monday. the bank is near a mall and business come in all the time looking for rolls, so i dont know how lucky i will get but we will see. Call me foolish but i keep the best looking BU pennies for myself, not for the copper. penvilvanian is right about estates finding accomeulations like that, on ebay you could see stories all the time, usually concerning paper money, where a collector dies suddenly and the widow or heirs dont know what to do with the items and just spend them or sell them to a dealer.
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centsless
Penny Pincher Member
119 Posts |
Posted - 05/14/2007 : 19:56:12
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| got 6 rolls monday at noon at the same bank, they were machine wrapped, no BU goodies like i had found on saturday.. oh well, it maybe quite awhile before i strike another richer copper "vein" like that again. |
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centsless
Penny Pincher Member
119 Posts |
Posted - 05/19/2007 : 16:20:08
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| i have gone to the same bank a couple times now... my great vein has pretty much dried up, but i did get one jewel from there today.... a 1902 indian head in good... i can understand how people can be generally ignorant about copper prices or numismatic values of coins... but an INDIAN HEAD put in circulation?? unreal. as an aside .. i have an account with only one bank in my area. whenever i go into any other bank but my own , they always ask me if i have an account there, to which i have to say "no" and so they refuse to give me pennies rolls. When i go into MY bank and ask for pennies , they say "Sure" and NEVER ask if i have an account there.... such is life |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 05/19/2007 : 17:09:03
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Here is an idea, go to some of the smaller shops in your area, the mom and pop type stores, ask to do a swap, bills for coins. Of course tell them you are a collector, you search for semi-rare coins, wheats, buffalo nickels, etc., make it sound legit and they might do a bills for coins swap.
Who knows, maybe some shop owner would rather do a rolls for bills swap rather than lugging the coins to the bank.
Just an idea of mine, something to kick around.
Footnote in the Indian Head,
On a cion collecting site, a collector went to a gas station, and overheard the attendant that some a roll of pennies looked supicious, maybe they were 'counterifet' (they were wheat cents)
The collector swapped zincs for the wheats.
Of course, the uneducated always wonder why somebody else makes the profits.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
Edited by - pencilvanian on 05/19/2007 17:13:40 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/20/2007 : 02:41:52
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quote:
Originally posted by centsless
i have an account with only one bank in my area. whenever i go into any other bank but my own , they always ask me if i have an account there, to which i have to say "no" and so they refuse to give me pennies rolls. When i go into MY bank and ask for pennies , they say "Sure" and NEVER ask if i have an account there.... such is life
Here is another idea. Open accounts at a few of those banks. Just ask what they have in the way of a Free account.. usually a checking or savings account. Most of my accounts have about $10 in them. That way if they ask if I have an account I can legitimately say yes.
Congrats on finding the Indian.. I still haven't found one of those in circulation yet, but I did find a really nice 1912-S.
"Preserving coinage.. 2 tons at a time"
HoardCode0.1:M48/14USCA:US1Cu639700:US5Ni2400:CA5Ni46 |
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centsless
Penny Pincher Member
119 Posts |
Posted - 05/20/2007 : 14:32:40
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| lets face it,and as i have just realized myself, if there were not as many uneducateds, we wouldnt be talking about so many of our "finds" . i think many people under 40 have no idea that coins before 1965 were silver, and most people have no idea of the changeover to zinc in 1982. but older people have some inkling of silver value. i was in line at a bank about a couple years ago and i heard an elderly lady in front of me say to the teller that she had some silver dollars and she knew they were worth "something more than face value" but she didnt know how much and she thought the bank would be able to tell her how much they were worth. they could not of course. i tracked her down after i was done and looked at them, there were 5 or so common year peace dollars in AU or BU '22 - '25 and some unc IKE bicentennials, type II. i didnt offer her a price for them. i wonder if i HAD whether she thought i was trying to get them for much less than they were "worth". i have another question. was the change in the date size on the 82 penny supposed to exactly coincide with the change in metal? |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 05/31/2007 : 19:36:44
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Many reasons for this. One is unfortunate. In the area I live home invasions are common. The thing most stolen is coin collections. Criminals have no coin collecting values so they spend those they stole for face value. One neighbor of mine lost a coin collection due to theft worth about $200,000. Then there are the hoarders of coinage in jars for a rainy day. My ex wife was one of those. She would put a quarter in a jar for every load of laundry she did in our home as if she was going to a laundromat. One day we looked and she had accomeulated $1,200 worth of quarters so to the bank they went. Then there are the people that have those jars, cans, boxes of coins and just take them to a bank to get rid of them. Now there are people that inherit coin collections and just take them to a bank not knowing what else to do with a mountain of coins. As I said there are numerous reasons that old coins appear in circulation so keep on watching.
Carl |
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myfundsarelow
Penny Collector Member
USA
388 Posts |
Posted - 06/03/2007 : 19:25:35
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| hello all yesterday went to the bank east cost new jersey picked up 2 boxs of cents all bunbar co. wraped while weighing copper cents i opened a roll of bunbar wraped cents to check count the total cents in wrapper it was shorted 2 cents then started to count check more rolls they were all shorted 1 or2 cents in all i lost about 1,50 on 2 boxs of the dunbar wraps any one else checking the count of cents in a bunbar roll of cents i have received many many rolls of these cents in the past i hope they were all not shorted maybe thats why my name is myfundsarelow count your pennies and your dollars will grow PEACE! |
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deleted
43 Posts |
Posted - 06/04/2007 : 13:49:46
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" You have hit a main vein in this little copper mining adventure of ours."
that's how I feel sometimes, I feel like I'm mining or going on a treasure hunt. I wonder when cashiers give pennies out as change if they know they're passing copper pennies that are worth more than face.
"Preserving coinage by the pound" |
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centsless
Penny Pincher Member
119 Posts |
Posted - 06/05/2007 : 18:44:31
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| i doubt it. Once i got a 1938 mercury dime in my change. At other times i have gotten a 1947 dime and two silver quarters, a 1963 and 1959D. and althought they are worth little or nothing above face value , i have gotten and kept paper money from as far back as series 1934 A, some in nearly uncirculated condition. i have had to explain to at least 2 bank teller that i sort thru the penny rolls to get out the copper ones. |
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good sign or bad?
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