Copper "hoard" question

[Rosco53]

Hey all-
So, was wasting time on craigslist, saw a posting for 35lbs of copper pennies for sale for $65. Contacted the guy, asked about it, he said it was machine sorted and he hadn't picked out wheats, they "...went into the same pail with all the other copper pennies". Just wondering if the extra $ would make it worth sorting for the slightly increased chance of wheats/IHP maybe? Thanks for any advise, best of luck hunting, and happy easter to those of you who celebrate!

 

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[kingskid1611]

I wouldn't chance it but for the "treasure hunt" option it would be fun. See if you can get it cheaper.

 

[FormerTeller]

Copper "hoard" question

If you're into hoarding copper and hold it did the long run, then maybe. But bear in mind that 35 pounds of cents represents maybe 25,000 cents searched, or 10 boxes. If he's telling the truth about them being "unsearched", how many wheats would you normally find in 10 boxes, and are they worth the premium you'll pay?

I agree, see if you can get them cheaper. If he's got a machine, his time/cost is quite low compared to hand searchers.

 

[Rosco53]

Yeah, I'm definitely not a hoarder, more thinking that just increases the odds of finding wheats and the slim chance of another IHP... Appreciate the input!

 

[Dozer D]

If I recall, it takes 154-coppers per pound @ 35 lbs, then FV is $53.90, if he is paying shipping, then go for it.

 

[LooseChange]

Yeah, I'm definitely not a hoarder, more thinking that just increases the odds of finding wheats and the slim chance of another IHP... Appreciate the input!

Depending on the specific sorting machine and its settings, an IHC could be very unlikely. Also, the probability of concentrated wheats may not necessarily be increased.

If a common pre-1982 cent is used as the reference coin for the Ryedale, most/all IHs (and quite a few years of wheats) will be rejected as not matching the alloy of the reference coin.

 

[Rosco53]

Depending on the specific sorting machine and its settings, an IHC could be very unlikely. Also, the probability of concentrated wheats may not necessarily be increased.

If a common pre-1982 cent is used as the reference coin for the Ryedale, most/all IHs (and quite a few years of wheats) will be rejected as not matching the alloy of the reference coin.

Appreciate the input, would never have known that! The seller says all the wheats went in the same pail, no idea what machine he used or anything like that (honestly never knew there was a machine to do so)

 

[LooseChange]

Appreciate the input, would never have known that! The seller says all the wheats went in the same pail, no idea what machine he used or anything like that (honestly never knew there was a machine to do so)

The machine uses the same technology that a slot machine or vending machine uses to make sure that coins are legit. It measures the inductive signature and compares it against a reference coin (http://www.pennysorter.com/).

If the seller used a zinc lincoln as the reference and discarded everything that matched, then you would potentially have IHs, Wheats, Steels, CADs, Euros, Dimes, you-name-its in with the coppers. If the seller used the more "normal" method of using a pre-82 copper as the reference and only kept what matched, some Wheats and Some CADs would be kept but many of them would get rejected along with the zincs.