Should I Start Doing Cents?

[JJtheRollHunter]

Do any websites or coin dealers buy the copper pennies? Should I save them (besides wheats)?

 

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[placerman]

Do the math.


If you spend 1000 dollars on halves and do "average", or 0.5%, you will end up with 5 half dollars worth around 30 dollars.

Your cost is 2.50 dollars, so your return on investment is 12 to 1.



If you spend 1000 dollars on cents and do "average", or 24%, you will end up with 24,000 pennies worth around 490 dollars.

Your cost is 240 dollars, so your return on investment is 2 to 1.


If you have the extra cash every week to make up for what it cost you to get the coins, pennies makes a lot of sense.

If you don't have much extra to spend, beyond replacing the face value of the few dollars worth of silver halves you find, it makes more sense to stay with silver.

 

[JJtheRollHunter]

I know. I only want to do them if places or websites will buy them because I never sell my silver.

 

[obediah]

Doing pennies makes cents to me as long is it everyone else doing them- I'll just focus on the Silver, yeah I know it don't make cents, but it does make dollars.

 

[mebegene]

I know. I only want to do them if places or websites will buy them because I never sell my silver.

Whoa!! JJ, don't box yourself in like that (pun not intended). Sell the silver stuff when it gets high ($22 recently/oz) and move the profits into real estate as its down right now. Of course KEEP the collectable silver but the standard bullion shouldn't have to be placed in your tomb.

Mebe

 

[jrf30]

Do the math.


If you spend 1000 dollars on halves and do "average", or 0.5%, you will end up with 5 half dollars worth around 30 dollars.

Your cost is 2.50 dollars, so your return on investment is 12 to 1.

If you spend 1000 dollars on cents and do "average", or 24%, you will end up with 24,000 pennies worth around 490 dollars.

Your cost is 240 dollars, so your return on investment is 2 to 1.

If you have the extra cash every week to make up for what it cost you to get the coins, pennies makes a lot of sense.

If you don't have much extra to spend, beyond replacing the face value of the few dollars worth of silver halves you find, it makes more sense to stay with silver.

YOu forgot that when you do pennies you also get wheats. That increases the return to more like 3 to 1.

But, it is also a $250 gain (Using your numbers) versus a $27.50 gain on halves (Again using your numbers). So although more is "spent" to get it, making $250 (Plus the missing wheats) is better than making $27.50. IF you can afford to put in the $240. But of course, you are saying the outlay is the SAME in each one, not different. The amout of KEEPERS is higher on the pennies, but the amount of money invested is the same: $1,000 in both cases. You are returning the majority of the halves to replenish the money, but you can sell the pennies, which replenishes the money anyway. Just at a profit.

I think both ideas work. Neither at a high enough rate to make it a "life supporting position" though. So you do the one that you like better, and the one that doesn't frustrate you as much. That depends on whether you have trouble seeing the pennies or get frustrated over the lack of keepers in halves. To each his own likes and dislikes, and that determines which works better for each person. :-) IMHO.

 

[DAS7NY]

I know. I only want to do them if places or websites will buy them because I never sell my silver.

Whoa!! JJ, don't box yourself in like that (pun not intended). Sell the silver stuff when it gets high ($22 recently/oz) and move the profits

That's what I said JJ. I'm probably just a little older than you. I sell my silver because I have for the most part, a steady supply. I collect coins and due to my CRHing my extensive coin collection costs me almost nothing. I get tons of boxes a week. Like usually AT LEAST 8. Since March I've made over $1,300 doing this. I buy coins and go to concerts. I think you'd seem like the coin collecting type. Take a trip to a coin shop sometime. Then get hooked!