copper vs. silver

[jnb1994]

I know this has been brought up numerous times and everyone has their own opinions on it but I just wanted to get some second opinions on my plan. Right now my bank roll is about 1000 bucks. I've been doing mainly dimes and now that school is over I'm going to order halves from as many banks as I can. Right now I have one solid box of copper and am working on a second. I probably won't keep more than 50 bucks worth just because I don't want to tie all my money with copper. I was thinking about trying to find some people who are willing to buy copper and try to sell boxes for 25 dollars profit, enough for me to use to keep another copper. So a box of copper sold is a box of copper I can afford to keep. Any thoughts? Is 50 bucks too much to ask for a box of copper?

 

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[Xiao en]

You are asking 50.00 for a box of pennies, 2:1?? Only thing I could suggest is check what is currently on the market via FeeBay or Craigslist. Then you have an idea of where you stand. Good Luck in your sales.

 

[lovewiibrew]

I would say if you have some money then nothing wrong with setting aside some copper. But if it's gonna squeeze your bankroll I would stick with silver.

 

[hokiemojo]

I suspect your pricing might be a bit off. Last I checked, buy it now on ebay was usually 1.5 times face. Those prices are usually higher than a traditional auction format. I think $30-35 per $25FV box is a more reasonable expectation.

If the melt ban ever ends, the intrinsic value will increase, but supplies will flood the market. Who knows where that will leave the price.

 

[Gilmore Happy]

What you want to do, is sell off that $25FV in the smallest increments possible. $10FV at a time, and if you can find a buyer at $5FV, even better. There are more suckers in this range, I mean smaller "investors", than the guys who buy in bulk. They are more willing to pay more per penny because they are getting their feet wet in investing in copper pennies and they dont want to spend alot...even if its more per penny. It's kind of like buying at the grocery store, the smaller the unit you buy, the more per ounce/pound/liter you are actually paying than if you were to buy in bulk. Also if you add an incentive for them to buy your product, like "unsearched" it will demand a tiny premium. OR you can sell the $25FV straight up and make $8 profit after fees/shipping.

The real question is...can you make more with your $50 quicker, than letting in sit, waiting for copper to spike and the melt ban to be lifted. The obvious answer is yes. You could take that $50 and buy dimes and half dollars to find silver which is a far better return, and quicker than copper just sitting in your closet. I believe the bigger investors in pennies are doing so, because they have alot of extra cash and pennies are just one vehicle out of many to park their money in. I have the ability to hold my copper and it's a 20 year play for me. I have almost $700FV!!! Set it and forget it. Your case is different...get rid of the turkey and make that $50 work as hard as possible for you, copper is not the play for you...right now.

 

[usandthem]

There are people out there that will pay 2X face for pennies. Until about a month ago I was selling my pennies for that. Since the copper price has dropped a little bit my buyer has gotten a little nervous and is only paying 1.5X. However, I have found another buyer that will pay 3X for wheats. There is a market for copper pennies. You just have to find a way to make it work for you. Hope this helps.

 

[mishra142]

Realistically your looking at about 1.3-1.4 net profit after fees and shipping ect. Most of the time pennies sell in a 100 fv which fits in a medium flat rate box.

 

[Diver_Down]

However, I have found another buyer that will pay 3X for wheats.

You need to find another buyer. I traditionally get 6x for common date (40's and 50's). 9x for common 20's and 30's. I do not sell teen wheats.

 

[usandthem]

You need to find another buyer. I traditionally get 6x for common date (40's and 50's). 9x for common 20's and 30's. I do not sell teen wheats.

I haven't sold any of my wheats yet. My intention was to let the OP know that there is a market for pennies and that he should look for the deal that suits him best.

 

[jnb1994]

You need to find another buyer. I traditionally get 6x for common date (40's and 50's). 9x for common 20's and 30's. I do not sell teen wheats.

How do you sell your wheats? Do you sort them into decades or another way?

 

[Diver_Down]

How do you sell your wheats? Do you sort them into decades or another way?

300, 500, and 1000 count bags. All S mints are pulled whether they are common date or not. There is always a premium for S mint wheaties. Then, I sort by groups - 40's and 50's common date go in the bulk bags, and 20's and 30's common date get rolled. I'll sell the 20's and 30's in 2 roll lots.

 

[jnb1994]

300, 500, and 1000 count bags. All S mints are pulled whether they are common date or not. There is always a premium for S mint wheaties. Then, I sort by groups - 40's and 50's common date go in the bulk bags, and 20's and 30's common date get rolled. I'll sell the 20's and 30's in 2 roll lots.

Wow how much do you go through to get that many wheats? I know they aren't extremely rare but I've been getting around 10-20 per box. Is this average or am I just getting bad boxes?

 

[Diver_Down]

Wow how much do you go through to get that many wheats? I know they aren't extremely rare but I've been getting around 10-20 per box. Is this average or am I just getting bad boxes?

I'm lucky if I get 5 wheats per box. I've also been on the hunt for 30 years so I've accumulated quite a few.

 

[greatwhitetailhorns]

How do u get these boxes

 

[silversnacher]

Just walk into your bank and ask for a box of pennies,nickels,dimes whatever if they have them great if they don't they can order them for you

 

[greatwhitetailhorns]

Another question how much will I need for each box

 

[jnb1994]

Depends on what type your getting. Pennies are $25, nickels $100, dimes $250, quarters and halves $500

 

[silversnacher]

If a bank has the boxes on hand and you have an account there they will probably give them to you for face value

 

[greatwhitetailhorns]

Do u have to be a member

 

[jnb1994]

In all technicalities you do probably have to be a member, but a good number of banks don't ask. It depends on the teller. And even if one branch says no you can try another branch.