I'll start by answering my own question, YES, it definitely is profitable, but expect to put in alot of time and labor. I wouldn't even call this hunting since copper pennies are still as common as your neighborhood squirrel, about 1 in 5 pennies or 20%. To start, you'll need to buy a coin sorter to weed out the zincs by weight. Ryedale is the most popular brand, but costs afew hundred, the alternative is, buy the sorting mechanism separately for about 30 bucks and build the base yourself.
Current demand on ebay is strongly supporting a base price of 1.5X face, so you can expect $300 (30,000) worth of pennies, to sell for $450+. Then deduct $65 for feebay/paypal + 45 to ship, that leaves you with a $90+ profit. Now lets review how much work is involved. To get that amount of copper pennies, you'd need to sort though 150,000 pennies or 60 boxs of pennies that you'll need to bring home (if your cars suspension can handle it) run them though the machine, and find a bank thats willing to let you dump all those rejects.
Overall it doesnt seem practical unless your willing to 1] Order and dump your coins directly to cash handling company. 2] Make this a part or full time job.
Current demand on ebay is strongly supporting a base price of 1.5X face, so you can expect $300 (30,000) worth of pennies, to sell for $450+. Then deduct $65 for feebay/paypal + 45 to ship, that leaves you with a $90+ profit. Now lets review how much work is involved. To get that amount of copper pennies, you'd need to sort though 150,000 pennies or 60 boxs of pennies that you'll need to bring home (if your cars suspension can handle it) run them though the machine, and find a bank thats willing to let you dump all those rejects.
Overall it doesnt seem practical unless your willing to 1] Order and dump your coins directly to cash handling company. 2] Make this a part or full time job.
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