Copper thoughts

[randreoni]

I know there are a number of you guys hoarding pre 83 pennies. Just curious on what your thoughts were regarding the melting law thats in currently in effect. Are you guys hoping they'll one day lift the ban? I like the fact that every time I find a copper penny it's worth two cents.

 

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[placerman]

Copper today is just like silver in 1975.

I'm sure most people back then thought it was crazy to stockpile silver coins and justified it by saying a half dollar is the same no matter what it is made of. Of course today we know how wrong they were.

With that said I feel that I am a beneficiary of the laws making melting copper coins illegal, for now.

As long as the law stays on the books, people will continue to justify not hoarding them.

Copper right now is around 2.92 a pound. Most of the financial people are saying it will be 4 dollars a pound by mid 2010. I hope it stays between 3 and 4 a pound for a long time because this will allow me to stockpile as much as I can before it skyrockets.

I'm sure there are those who are already melting it down and selling it quietly.

Having just recently begun hoarding them, I don't have enough to justify it but I'm not really sure it will be required.

I'm sure in the not too distant future there will be people selling copper pennies on eBay for 4 or 5 cents each or more.

I'm sure there are a lot of people out there, especially on this forum who have several tons of copper cents.

I am equally sure that in the not too distant future they will be richly rewarded for their forward thinking.

Hopefully I will soon be one of them.