PDA

View Full Version : Hording pennies anyone?



Ardent Listener
13th April 2006, 22:51
Is anyone hording their pennies? Pre-1982 U.S. copper pennies that is. At today's copper prices a pre-1982 penny is worth over 1.5 cents. The problem is to sort them out from the zinc post 1982 ones. In additon, storage is a problem. But I can dig a hole in my back yard. :lol: Hey, don't laugh too hard. :lol: They laughed at me when I saved my 90% silver coins when I was a kid. :wink: http://upload3.postimage.org/100848/coppercoins.jpg (http://upload3.postimage.org/100848/photo_hosting.html)

The illustration I uploaded calls the zinc coins "garbage". Of course zinc is not garbage. It will just take longer for a zinc penny metal value to become more than its face value.

*"Cash prices for copper, used in making pipes, may average 5,590 a metric ton or $2.54 a pound, this year from $3,681 a ton last year Macquarie Bank analysts said in an April 13 report. The bank raised its copper price forecast by 15 percent from an earlier prediction.

Copper and zinc reached records recently in London as metal producers struggle to meet demand led by China amid declinind stockpiles and mine stoppages. Marquarie revised its prediction of a global surplus of refined copper for this year to a deficit. It raised its copper price forecasts for 2007 to 2010 by between 8.3 percent and 48 percent.

The bank increased its 2006 zinc prices forecasts by 4.7% to $1.23 a pound, or double last year's average price of 62.6 cents on the London Metal Exchange. Zinc is used to galvanize steel."

* source is Bloomberg.com:Europe.

silver100
14th April 2006, 14:36
I prefer silver bags :)

Soon they will have copper silver bags

Silver Bull
25th June 2006, 21:02
I've been hoarding wheaties for decades. Now is the time to start hoarding the coppers. Who knows, maybe soon the zincs!

Ardent Listener
17th July 2006, 19:17
Table based on July 17, 2006 closing base metal prices (expressed in pounds):
Copper $3.6269/lb 0.0997 Zinc $1.5021/lb 0.0363 Nickel $12.9954/lb 0.2495

Description Denomination Metal Value Metal % of Denomination
1959-1982 Cent (Copper) * $0.01 $0.0241383 241.3800%
1946-2006 Nickel $0.05 $0.0657962 131.5900%

MiloMorai
14th April 2010, 22:41
I've been hoarding wheaties for decades. Now is the time to start hoarding the coppers. Who knows, maybe soon the zincs!

Alright somebody with class, been hoarding small time coppers for about about a year and a half.
every since I found Ardent Listeners penny site, haven't been there lately. just started saving the
AU/Uncirculated zinc's from 1983-2007 Thank Ardent you rock
latest find in a roll. zwei euro penny

Sakata
15th April 2010, 06:52
I have about 5000 wheat and 10000 later copper (guesstimates based on weight). They are in a big coin bag in my office.

Colonel Clink
15th April 2010, 07:18
http://www.postimage.org/image.php?v=gx10nQT0

Wow! That must be the mother of all motherboards! /sarc ;)

fansubs_ca
17th April 2010, 01:14
Yep! I save old copper pennies as well I sort nickels sporadically.

Out of curiousity I did a big sort over the Easter weekend of $500 in Nickels to see what percentages I'd get. (Yes, 10,000 of them! Sorted by hand! :-O) Not gonna try that many at one sitting again unless I get a Ryedale, takes a little too long by hand.

I accumulated them from various banks/credit unions in the 3 weeks leading up to the weekend. I find more of them are asking if you are a customer than 3 years back. Also most banks seem to have less on hand than they did, or maybe just the cash proceedures have changed making change harderto get to for the tellers.

I had the feeling that at least some of these rolls had been sitting around a while because a few had high portions of U.S. nickels from the great dump 2 or 3 years back when the CDN Dollar hit $1.10 U.S. and everyone dumped their U.S. coin hoards. (Which are normally saved for the next trip south. ^_-)

I found:
1 1938 Nickel (99.9% Nickel)-went to coin collection
2 1950 Nickels -went to coin collection
2 1952 Nickels -went to coin collection
2 1954 Nickels -went to coin collection
1679 more 99.9% Ni Nickels (including 5 "bunny" nickels from 1967 that a friend wanted dibs on ^_-)
2618 Canadian Cu/Ni Nickels
242 U.S. Nickels (all Cu/Ni, no war nickels)
5429 Steel Core Nickels
1 1 Mexican Peso coin
1 1/2 Mexican Peso coin
1 German 50 Phening coin
22 Nickels short overall but...
... I found 4 dimes and 1 penny between the Nickels so I was only 69 short rather than $1.10

Sorting time took 10H 33M after duducting break time. Didn't keep track of re-rolling time. Re-rolling was done annother day.

So getting almost 17% Ni isn't too bad of a drop from the 20% I got when I kept track of a sort a few years back. I expected it to be lower with the mint it's self culling and other sorters. I guess I tapped stuff the mint hadn't gotten it's hands on and I'm far enough away from the monster sorter than came up to Ontario and pulled tons of Ni out of circulation when Nickel hit $25 per pound. ^_- (I read his post over on Ardent Listener's realcent board.)

Left over steel core Nickels were are being cashed in at Safeway, that way they give them out in change and I don't see the same rolls over again like I might risk if I took them to a bank. ^_- I cashed in $100 worth last weekend and asked them how long it takes them to go through that much. They said they normally order that much in a week so I took in annother $100 today, about $60 worth left to take in next week.

MiloMorai
24th April 2010, 18:46
Talk about slim pickens, not the movie actorhttp://www.postsmile.com/img/emotions/89.gif (http://www.postsmile.com/)

My big score today when I picked up about $10 in nickels and $12 in pennies
Wheat's
1- 1941 p
1- 1955 d
2- canadians 1976- 1965

Nickels
1-1956 d
1-1957 d
1-1943 p pretty worn

Depressing huh!
Did save about $2 bucks in 1959 to 1981 Nickels to my stash(Those are the common years I save)
and about $3.00 in 95% copper pennies also

What is Truth?
24th April 2010, 21:14
Most of you probably know this this, but I thought I would pass it along in case a few of you don't.

When dumping and your coins are rolled, the bank MUST take them if you are depositing them in your account. They are legal tender and can not be turned down.

The bank can no longer require you to spend time writing your name and account number on the rolls you deposit. The recent changes to the privacy laws prohibit it. However if you are not depositing them they do have the right to refuse them.

There are tellers who are still out there who get an attitude and try to make you spend time doing it, but if that happens simple say that your would like to speak to the manager to make a complaint concerning a violation of the privacy laws and they tend to become much more reasonable.


http://realcent.forumco.com/topic.asp?whichpage=1&TOPIC_ID=15797��

MiloMorai
25th April 2010, 13:29
Most of you probably know this this, but I thought I would pass it along in case a few of you don't.

When dumping and your coins are rolled, the bank MUST take them if you are depositing them in your account. They are legal tender and can not be turned down.

The bank can no longer require you to spend time writing your name and account number on the rolls you deposit. The recent changes to the privacy laws prohibit it. However if you are not depositing them they do have the right to refuse them.

There are tellers who are still out there who get an attitude and try to make you spend time doing it, but if that happens simple say that your would like to speak to the manager to make a complaint concerning a violation of the privacy laws and they tend to become much more reasonable.


http://realcent.forumco.com/topic.asp?whichpage=1&TOPIC_ID=15797��

Don't have to worry about dumping my coins right now my bank has two branches with coin machines and it's free for customers. Also I'm not bigtime. only dump about $10 to$40 dollars a week.

Was wondering about that, I remember back a few years you had to do it that way.
I get alot rolls customer wrapped with nothing on them, usually there are no wheaties in them
but plenty of 95% copper pennies.
Even occasionally run across some rolls that are all 95% coppers,
the hoarders must have run onto hard times.