Is it time to get a Ryesdale?

[SFBayArea]

Copper the poor man's metal has gotten up to $3.58/lb. Will it get up to $3.80 soon and what price will copper cents fetch at that price and at what price will local dealers start buying cents? Is it time to get a Ryesdale and is the Ryesdale better than the sorter someone has made and is selling on Ebay? Copper cents is still selling but only at about 40-50% above face on Ebay not even close to double face from years ago. Just want to see everyone's thoughts on whether this is the time to get in before it climbs.

 

Amazon Forum Fav 👍

How to Research for Treasure Hunting and Metal Detecting From Lead Generation to Vetting - Grab it through Amazon!

[Generic_Lad]

The problem is the melt ban. If copper prices go way down, the melt ban will more than likely be lifted, however of course that means little profit. If the pennies can't be melted down into useful items, selling them is going to be tricky (you also can't export many pennies) so no matter how high the value is for copper, its useless if you can't melt them and reshape them into a useful good.

The problem with buying a Ryesdale is it is a gamble on the government, if you think the government will lift the melt ban soon, then by all means get a Ryesdale, if you think it will be another decade before they do (if ever) then copper cents will be found in circulation for a long time to come.

Myself I just save the copper cents I get in change because I don't see the current situation changing, but when/if it does, coppers will be paid as close to melt as silver is now. The discounts now are because it is a gamble.

 

[Ltrain]

It's only a matter of time before they lift the ban on copper. As for a mechanical sorter... well, if you can afford to drop the $500, go for it.

 

[SFBayArea]

I do think that it's a matter of time too.. in reading the law on metaling cents is that they want to have enough pennies out there for daily commerce. But as every year goes by, more & more zincolns get made thus increasing the supply of pennies out there. It's a matter of time in my opinion. I know that silver was last used in 1964 but does anyone know of when they lifted the ban? I know that a huge amount of them were melted in the early 80's. They stopped making copper cents in 1982.

 

[Ltrain]

It's technically an unconstitutional ban, so all someone who is heavily vested in copper cents would have to do is challenge it in court and appeal as far as the US Mint is willing to take it.

 

[jrf30]

Copper the poor man's metal has gotten up to $3.58/lb. Will it get up to $3.80 soon and what price will copper cents fetch at that price and at what price will local dealers start buying cents? Is it time to get a Ryesdale and is the Ryesdale better than the sorter someone has made and is selling on Ebay? Copper cents is still selling but only at about 40-50% above face on Ebay not even close to double face from years ago. Just want to see everyone's thoughts on whether this is the time to get in before it climbs.

It's a Ryedale.

And I'd rather have my Ryedale than my White's detector. It's that important to me. :-)