Copper cents hoarders

[Dozer D]

Is there still any CRH'ers out there that are yet copper hoarding? I have not seen any posts lately and was wondering if I'm the only one still doing it? I enjoy going through a box of cents now and then, finding wheaties and who knows what else. My copper take is still about 15-18% of the box, but yet the price of copper is hanging about .0152/coin. I can hold on as long as possible, and who knows what the current economy is going. If the U S goes off the penny system, and the price of copper rises very sharply, I'll be ready.
Your thoughts & comments.

 

Amazon Forum Fav 👍

Family Maps of Hinds County, Mississippi, Deluxe Edition - Grab it through Amazon!

[Showtime2385]

I'm with you. Cant loose on the investment and offers a bit of finding fun when I cant get out and hunt.

 

[boristhespider88]

Is there still any CRH'ers out there that are yet copper hoarding? I have not seen any posts lately and was wondering if I'm the only one still doing it? I enjoy going through a box of cents now and then, finding wheaties and who knows what else. My copper take is still about 15-18% of the box, but yet the price of copper is hanging about .0152/coin. I can hold on as long as possible, and who knows what the current economy is going. If the U S goes off the penny system, and the price of copper rises very sharply, I'll be ready.
Your thoughts & comments.

I amassed about $125 FV in them, and then my mom died last year and I needed the money. I feel like culling the copper is a huge waste of time. That's my personal opinion though, so don't take my word for that.

 

[323GTX]

As for searching cents just for the copper, it doesn't sound like a whole lot of fun... but if you have the space to store it all, it probably makes sense to do. I'd go out on a limb and say that copper has a pretty good chance of outperforming silver and gold over the long haul. There are 7+ billion people on the planet (and growing), and a decent percentage of them will see enormously rapid increases in their living standards regardless of what happens to the global financial and economic system. Copper consumption is far more directly tied to their development than precious metals, as it an essential material for increased living standards. For most of the people on this planet, gold and silver are not directly tied to actual living standards the way copper is.

Although I'm currently living overseas and not doing any CRHing or MDing, I believe that searching cents for wheaties, WAMs, CUDs, and other goodies provides the best return-on-time-and-money-invested of all the coin denominations (nickels being second). In addition to wheats and a few Indians, last year I found three 1999 WAMs, a combined total of about forty 1998 / 2000 WAMs, an amazing CUD that I sold on Ebay for over $100, and a majestic die cap that also sold for north of $100. Also, in contrast to when I did halves in a big way, searching cents removes the worry about possibly getting stuck holding thousands of $$ in coin if dumping becomes an issue. It is just more fun and care-free.


Just my opinion... worth every cent you paid for it! :-)

Happy Hunting!

 

[DeepseekerADS]

I don't CRH, but do look through all the cents I receive in change. They slowly accumulate. May mean nothing in the long run but not a problem there - just a tiny bit of fun here and there just looking through them. Been doing this for some years now.

What I really need to do is start looking for WAMs. Save all my change anyway. You just never know.

 

[Liu21]

I'm working to get 75$ in face value. I need about 5 maybe 10$ to go. I reroll them in the mint wrappers and box them in the Pennies box. So storing is neat and easy.

 

[forkliftdriver]

I always pull copper and store them in rolls. I post them on a local trade site and sell $50 worth for $62.50.

 

[ArkieBassMan]

Is there still any CRH'ers out there that are yet copper hoarding? I have not seen any posts lately and was wondering if I'm the only one still doing it? I enjoy going through a box of cents now and then, finding wheaties and who knows what else. My copper take is still about 15-18% of the box, but yet the price of copper is hanging about .0152/coin. I can hold on as long as possible, and who knows what the current economy is going. If the U S goes off the penny system, and the price of copper rises very sharply, I'll be ready.
Your thoughts & comments.

I tried to CRH cents back when copper was high. I was all set to purchase a Ryedale. But, I did about 25 boxes and the best boxes only ran 11-12% copper. 8 wheats was the most I found in a box. Most boxes had only 3 or 4, and I was even skunked a few times. Therefore, I don't CRH cents, but I do still save the copper from my pocket change. Dunno why really.

I don't think the U.S. dropping the cent would have a noticeable effect on the price of copper. If it does, the price will go down - not up - because of all the copper flooding the market as cent hoarders sell their stashes.

 

[StevoCBR]

I have hoarded over the past five years around $200. I maybe do 2 boxes a year when i get the search itch. I do like pennies because if you keep and separate nice older examples of copper, there is a keeper in ever roll. I gave up searching for silver years ago and all the wasted time and shorted coin counter exchanges and just buy now.

I think copper prices will stay down for the foreseeable future. Copper is like 98% commercial, and with China's downgrade in growth and no other new frontiers to look to for double digit growth year over year for a decade, there just isn't a lot of upside. Yes if the world has a money reset, copper was in the 3 elements on the periodic table that historically has been looked at as a store of wealth and probably would rise sharply in the value we understand in the current federal reserve note hangover of values from pre-crash. Only then would it actually pay off big for copper. But still I'm not sure it's worth it and if we should just stick to Ag and Au lol.

 

[StevoCBR]

I always pull copper and store them in rolls. I post them on a local trade site and sell $50 worth for $62.50. .

What trade sights are you talking about, besides craigslist?

Thnx

 

[Dozer D]

Thanks for all the comments, keep them coming.....HH

 

[FormerTeller]

I hand sorted big time for a few years. Currently sitting on $875 in copper cents, all neatly rolled and labeled, and stored in cent boxes. Could really use the money in a better investment, but after all that effort can't bring myself to liquidate for little to no profit. Probably hold onto them until the price rises to the point where I can get 1.5 face, or I get really cash poor.

 

[Pete_Iredale]

I've been sorting them out as well, since I'm already looking at all the dates anyhow. I only have like 24 pounds at the moment though. And I am most definitely not rerolling them. Why bother when you can just weigh them and multiply by 95% to get the exact weight of the copper?

 

[FormerTeller]

Why bother when you can just weigh them and multiply by 95% to get the exact weight of the copper?

Easier to store, for me at least. Boxes stack nicely.

 

[MIhunter]

I'm with you. Cant loose on the investment and offers a bit of finding fun when I cant get out and hunt.

But you CAN lose on the investment!
It is called opportunity lost.
If you search and but away $1000 in pennies that is $1000 you haven't invested in something else (gold, silver, equity stocks, bonds, real estate, your own business, etc)
If you enjoy searching, great!
If you can sell them right away for a profit, great
But if you have to hold on to them and wait for the Gov't to green light the melting of pennies, it could take a while. My GUESS is 10-20 years if you estimate the current penny supply is 10-20% copper. Perhaps sooner if the US stops making pennies, always a possibility.

 

[LooseChange]

But you CAN lose on the investment!
It is called opportunity lost.
If you search and but away $1000 in pennies that is $1000 you haven't invested in something else (gold, silver, equity stocks, bonds, real estate, your own business, etc)
...

This is very accurate - assuming that you would do something else with the funds other than let them sit in buckets, boxes, etc.

You would be better off to pay down debt or invest the funds for return.

However, if you have no real debt, don't have the discipline to invest, and your stacked dollars just reduce your general purpose deposit account by $1k, then the lost opportunity is only a few bucks a year (assuming 0.3% APY on savings or checking).

 

[mikeyboi]

I always cull every copper cent I get in change. I used to do rolls, $50 at a time, but I haven't done any for quite a while.
I'm not sure how much I have accumulated so far, but I have a 5-gallon bucket filled about 4 inches from the top.
At this point, it is so heavy I can't really move it.

I use the bucket as my foot-stool in the basement for now.