Aug 22, 2012, 03:43 PM
Copper penny stockpilers how much is "enough"?
As I approach filling up my first 5 gallon bucket when do you think its enough?
Aug 22, 2012 03:43 PM
Aug 22, 2012, 04:25 PM
One billion coins ought to do it!!!
Originally Posted by sheepdog_tx
I'd say If you enjoy it and have the room to store it just keep going! Can't hurt anything (except maybe your floors or you foundation or even your back:-))
I just keep re-rolling and filling $25 cent boxes then stacking them like bricks. Seems to work ok. Although I don't have nearly as many as you at this point so storage is not an issue!
Aug 22, 2012, 05:14 PM
Eventually, storing away even pennies get expensive especially since there is no market for the copper because of the ban. What the heck, a billion might be a little over the top but what is another one or two 5 gallon buckets if you are up for it and will not trip over the buckets in the middle of the night.
Aug 22, 2012, 05:16 PM
How many pennies fit in a 5 gallon bucket any ways?
Aug 22, 2012, 05:18 PM
It's there,you just gotta look for it!
Originally Posted by kfs
Ever wonder where your thoughts come from?
Aug 22, 2012, 10:37 PM
Too much is relative, how much money do you have tied up in copper? ($100 in copper US pennies weighs 68.5 lbs) How much money to you have invested in silver ($30/oz) or gold ($53/gram). Diversify is my suggestion to you. When you make one type of investment, you lose the oppertunity to make another.
Aug 22, 2012, 10:42 PM
when you all your money becomes "copper pennies"... thats enough
CRW 3420$ : 27 Silver dimes -
MWR 950$ : 2 Silver dimes
CRW3$ : 7 wheats
MWR 25$ : 20 wheats
CWR 10$ : 0 Nope
MWR 600$ : 13 Silvers
3 buffalos, 1 misaligned die
15$ Foreign money 14 silver dimes
, 200$ clad,1 silver quarter
2.87 ounces of silver collected in 2013
Aug 22, 2012, 10:47 PM
If you have money to tie up and lots of time to waste. And a very small brain keep going. I have about 200 lbs why tell me why why did i waste my time looking at all the dirty pennies
Aug 22, 2012, 10:56 PM
you may love what you do. but you still need a hobby
you have not even scratched the surface my brother wants ten TONS bit much for me. my strategy will be let some one else pay for my hoard a bucket holds about or a little over $200 "est from my dumps" i will stock pile batches sell and what little profit their is i will use as free and clear copper hoard i keep all wheats sep their is a small prim to be had if you get enough even for junk years. i will eventually sort my coppers for "cherry picking" dbl die.
in the end it is really up to YOU i sort pennies dimes and halves at the moment saving silver and copper is a hobby i don't look at it as cost effective nor profitable for time spent.
Aug 22, 2012, 11:07 PM
I'm feeling the same way. I've got several boxes of copper pennies. I'm tempted to just start throwing them back.
I'm also saving pre 82 Canadian nickels and pre 96 canadian cents... sigh.
Aug 22, 2012, 11:16 PM
I'm up to $500 worth, a bit more than 300 lbs. I've got a bit of discretionary cash, and it's as good a way to save as any - better than most, considering the stock market and current interest rates, even if I sell them at only 1.2 cents each. I don't plan on selling though until either melting is legalized, or until I can get 2 cents each for them.
To answer the OP's question, enough for me is when I can't afford to tie up any more money saving copper cents, or when I can't afford the time to search.
Last edited by FormerTeller; Aug 22, 2012 at 11:17 PM.
Reason: forgot to answer question
Aug 22, 2012, 11:49 PM
There worthless until the melt ban is lifted (wont be for at least another 10-15 years)
Aug 23, 2012, 12:22 AM
Seeker of enough wealth to quit my job.
They are "worth" sorting , depending on your needs, means and objective.
Aug 23, 2012, 12:24 AM
WHY do you people KEEP saying that copper pennies are worthless until the ban is lifted. I have sold TENS OF THOUSANDS of coppers for 1.6 cents per penny. That's a 60% gain on my money. tell me ANY stock you can buy today where you can sell it TODAY for a 60% profit, with a ZERO percent chance of ANY loss! I think investing in pennies is a GOOD idea. So give it a rest. "If you have money to tie up and lots of time to waste. And a very small brain keep going" a small brain?? If you don't sort pennies, then don't! But to say you need a small brain to sort pennies? TERRIBLE way to treat fellow CRHers
Yes, you can sell your halves for a LOT more than the pennies. But when I am sitting on an 88 box skunk streak that doesn't look like it will end (I DO find in hand rolls, and pick up ALL of those while I pick up my PENNIES at the bank) then it's not a CHOICE for me to just go get all the halves I want instead. I have over 3 toms of pennies in my garage, because right now the prices are down so I don't see a reason to sell them for a little less. Nor do I need to. But I've sold them at numerous times at my 1.6X face, EVEN TO TWO BUYERS FROM HERE, and if I like it, how DARE you say I must have a small brain to do it or that it is worthless.
I praise you for your finds. And wish you the best of luck. But don't tell me that making 60% is bad, especially on the volume I can do in coppers versus finds in silver, or that it means I have a small brain. And no - it wasn' said as a joke. It was said as a mockery of penny hunters. That's not what this forum is supposed to be about!
Aug 23, 2012, 12:48 AM
It seems theres a lot of young crh that don't have much money. So pennies could be just the thing for them But i don't think so why should they tie up there small amount of money?? I did 200lbs of pennies and the truth be told you can be brain less and find copper all day long. Am sure jrf30 does'nt hand sort 3 tons of pennies?? do you?? I sure hope not. The guys that do pennies because there don't have the cash have to hand sort. If i only had pennies to do i would shoot my self in the head! Silver is over $30 an oz again.
Aug 23, 2012, 02:45 AM
You will know it when it happens. Until then, keep stacking it up. Once you have a respectable stack, sell if you choose or hold. Whatever you feel good about is the right answer. There is no wrong way to do this hobby. Those who tell you that you are doing it wrong because you are doing it differently than they do it are contemptuous fools with no respect (no respect for the hobby and no self respect for that matter).
As TimZim said, it is easy to find copper. You do have to have a bit of intelligence though to turn the finds into profit. Not everyone is capable of doing that. Some cretinous hunters think that the only market for anything is the LCS and that if the LCS won't buy it, it is worthless.
JRF is a great example of someone who routinely makes a profit with cents. You could do it also if that is what you are after. Or, just stack them so that you have a head start when/if everybody starts keeping them for speculation.
A Penny Sorted is a Penny Earned
Salute the LOOT
Aug 23, 2012, 06:32 AM
When I grow up, I want to be like Tim... except with better grammar.
Originally Posted by TimZim
Aug 23, 2012, 07:36 AM
Faster, easier, and cheaper to look for scrap. Just found 23 pounds worth of copper gutter along the road.
Aug 23, 2012, 08:47 AM
OCD Coin Hunter
To each his own. Halves still produce for me and I would prefer to stockpile silver anyway, so I don't actively search pennies for copper. However, I certainly wouldn't say someone has a small brain for doing it. In sorting cents for copper you are almost guaranteed to find something (far different than searching halves and dimes for silver) and you aren't tying up a huge amount of money. I've even thought about getting a Ryedale but don't think I would be able to maintain an adequate supply to feed it and make my money back. If you have kids it could also be a good way to introduce them to the hobby - Junior searches his box of pennies while daddy searches his box of halves.
I think the logic of sorting cents for copper is solid. The only question is do you like doing it and/or are you willing to invest the time and funds.
Aug 23, 2012, 08:59 AM
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