1 Million Pennies

[Electronova]

http://cgi.ebay.com/ONE-MILLION-COP...tem&pt=LH_DefaultDomain_0&hash=item335da67bc5

 

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[timbobwey]

man, you could go swimmin in those

 

[coolpix9]

at least no dumba$$ jumped at the opportunity. What is the average person going to do with 7000 pounds of copper that cannot be melted ?
I wish I could have gotten 25% copper pennies out of every box I sorted. Good luck to all. Jim

 

[2Cents]

Way too high of a premium and you still have to figure out how to ship it.

 

[rickomatic]

No takers for that guys auction. I bet he thought it was a good idea at the time...................................

 

[CHAINCHOMP]

it said pickup only...also, i find it funny he went through all of that trouble to collect those, and no1 wanted 'em! but seriously, who has 25k sitting around, and is like "hmm, that seems like a good investment, although i could find them in circ. myself, why dont i just go ahead and waste 15k to some idiot that want to make money!?!??!"

 

[dp2013]

Join the realcent forum and you can read the comments made by the seller about why he listed them.

 

[AGCoinHunter]

Actually this person is a regular over on the realcent forum. NDFarmer is a good guy. He did this more for the publicity than actually selling them. You can talk about how you can get 25% (which is really good) in cicrulation and such but copper cents are disappearing from circulation. Between the several billion a year that are minted and continue to dilute the supply and investors hoarding them such as this, the day the melt ban ends you are going to have a hard time getting your hands on copper cents. While copper may not be up to the PM standards, it is a base metal that has lots of industrial use and if we see any price spikes you can bet these will be worth every penny. The price may appear to be high, but until you sort out 1 million pennies, you will never know how much work is involved. Just think about it, at a 25% rate, thats 4 million cents to look through, pull out 1 million of them, and get rid of 3 million of them.

 

[jrf30]

http://cgi.ebay.com/ONE-MILLION-COP...tem&pt=LH_DefaultDomain_0&hash=item335da67bc5

Way too high of a price. In the good old days you could get about that much premium, but now it is about 50% above face. So, since this is $10,000 in cents, it is worth about $15,000 in true value, in spite of the melt value. He wants $25K? Not going to happen.

Cents have always traded for a premium but still well below melt. Since you can't melt them yet, no one is willing to pay over melt for these pennies. As he is going to find out.

 

[buffhunter]

I wonder if he wore out his Ryedale machine?