Who here saves there copper pennies?

[mws_1984]

How many of you here save your coppers? If so what is your reason behind doing so. Contemplating whether or not to save all the coppers I just pulled out of my recent penny box. Definitely saving the wheats too.

 

[GimmeSomeSilver]

I started pulling coppers and I might sell them on feebay once I have 68 lbs ($100 FV).

 

[brendan1414]

I just did three boxes, with about 28% copper in each. I bought one of those sorters off ebay, and they work great as well. my reasoning is to save for future investments, or just something to do while looking for wheats. they will always be worth $0.01 so if you have some extra money, why not save a few boxes?

 

[mws_1984]

I just did three boxes, with about 28% copper in each. I bought one of those sorters off ebay, and they work great as well. my reasoning is to save for future investments, or just something to do while looking for wheats. they will always be worth $0.01 so if you have some extra money, why not save a few boxes?

Probably will just roll all mine so they are nice and packed away. Not sure I'll venture to search pennies anytime soon. Wasn't happy with my 1st box.

 

[GimmeSomeSilver]

I just did three boxes, with about 28% copper in each. I bought one of those sorters off ebay, and they work great as well. my reasoning is to save for future investments, or just something to do while looking for wheats. they will always be worth $0.01 so if you have some extra money, why not save a few boxes?

What sorter did you buy? I was interested in purchasing one.

 

[ImpurestStewart]

I have about 50 pounds of them saved. Hoping Cu will get way on up there one day and I'll make a decent return, If not I have $100 stowed away for a rainy day.

 

[Farchaus2k]

I save them as well. Worst case scenario, I turn them in at some point for face value.

 

[SilverFace]

hoarding copper isn't as good as silver obviously but it sure is a heck of a lot better than hoarding cash which has no intrinsic value at all. People that think it is safe to keep their "money" in cash are about as clueless as the people that bring their half dollars to the bank to get fv. In a deflationary depression like the '30's cash was a good thing to have because you could buy something with it and it had real value because we were on a gold standard. In the '30's there was high unemployment so a lot of people didn't have much money but those that had USD's actually had money. Today we have high unemployment and a worthless currency thanks to the Fed and the lack of a gold standard. In an inflationary depression like today the asset you should want to own the least is a fiat currency like the USD.

 

[byzanthia]

Well the alternatives really aren't that great. It's easy to say you shouldn't own $$$ when you only have -say- a few thousand in the bank. If you have 200k it becomes another story. What do you do with it? Buy 200K of gold? That's just about the worst thing you can do IMO as, outside of industrial and aesthetic applications, gold has no intrinsic value other than what people will pay for it. Investing in gold is based upon one strategy - will the next sucker pay more for it than I did? Looking at a graph of the gold price over the past year now would be the absolute best time to invest if you want to lose 50% or more of your money.

Stocks aren't doing much better thanks to the fed's policies and Washington's strangling, overreaching regulation, burdensome taxes and the constant threats for more of both from Obozo and his cronies. No business is going to expand or hire when they are constantly being threatened and vilified and when there is no point where they know that at least for the next 5-10 years there will be no more regulation. Businesses hate uncertainty.

The housing market is in the can too thanks to government intereference. Invest in real estate? No thanks.

So what are you left with? Bonds and treasuries? You could argue that keeping it in dollars is as good a bet as any of the other options I listed above as it'll let you invest in something when the moment is opportune (e.g. when the DJIA tanks to under 10K when Greece defaults or when Gold drops back to under 1K/ounce).

 

[SilverFace]

the three best assets to own today are gold (or any pm's like silver and even other metals like copper), guns and a good means of transportation. All paper assets like stocks and esp. bonds denominated in an increasingly worthless fiat currency like the USD are soon to be worthless themselves as many Americans will soon realize. The price of gold has increased from $35oz to over $1800oz in 40 years and that trend is only going to continue. Gold and other pm's have been used as money for thousands of years. Fiat currencies never have and never will have any real value - their only value is just illusionary until people that own them wake up to the reality of what suckers they have been which will be the case with some of our largest creditors like China and Japan before too long and then the only buyers of US debt will be the Fed trying like hell to continue to monetize the US debt but this absurd game will soon come to an end with the complete destruction of the US economy.

There is more intrinsic value in one copper cent than in all the USDs in the world combined. USDs are nothing more than non-interest bearing debt notes from a country that is not only completely broke but over 14 trillion (not including all the unfunded liabilities) in debt and growing every second.

HH

 

[TxTim]

5,500 + lbs here at the moment.
I sell about 2 tons/yr.

 

[santafeboy]

I save them I have around $400 or so face and several coffee jars of them Ive found metal detecting

 

[MIhunter]

I have $71 in copper US Pennies, $9 in Canadian Pennies, $8 in Canadian 99.9% Nickels. I have stopped saving US pennies because they can't be melt so their value is below melt value for copper. I am thinking of selling off my pennies because I believe that it would be better to keep the money in silver or gold even if you pay spot. The price of base metals (copper, zinc, nickel, etc) trends to drop with reccesion because their is less commercial/industrial demand.

 

[snake35]

I save them.

 

[usandthem]

I save a few and sell a lot. I buy silver with what I make on selling the cents. In effect I've been buying silver for half of spot for the past four months. I keep all Canadian pennies. The copper ones are seperate from the others. I keep the wheats and any really nice red coppers and S mint marks. I also keep any pennies that I need for my two Dansco albums.

 

[brendan1414]

I just did three boxes, with about 28% copper in each. I bought one of those sorters off ebay, and they work great as well. my reasoning is to save for future investments, or just something to do while looking for wheats. they will always be worth $0.01 so if you have some extra money, why not save a few boxes?

What sorter did you buy? I was interested in purchasing one.

Well all of the sorters on eBay are the same, and the price seemed to be $50 at the cheapest, but one guy had them for $51 total but threw in a roll of halves so that's $10 off, so $41 will get you one. i am VERY pleased with how it performs, i got a great machine with perhaps a 0.3% error rate which you can catch when you re roll. Just look up copper sorter on ebay and you should find one.

 

[mws_1984]

I save a few and sell a lot. I buy silver with what I make on selling the cents. In effect I've been buying silver for half of spot for the past four months. I keep all Canadian pennies. The copper ones are seperate from the others. I keep the wheats and any really nice red coppers and S mint marks. I also keep any pennies that I need for my two Dansco albums.

How do you price the lots of coppers you sell? How many coins per lot and what do you ask for them? I only have like 11 rolls right now so probably not worth selling yet. Can you make any profit really off them? I don't deal in Ebay so it may be harder for me to move them as well.

 

[usandthem]

^ I sell to my local coin shop. He pays 2X face. He has a coin counter. I just take in a couple of coffee cans full of pennies and he runs them through the counter. Then he pays me. My dump bank also runs my Zincolns through a coin counter so I never have to re-roll.

 

[buffhunter]

we used to run as many as 40 boxes of pennies a week and averaged around 18-20% copper. Had a local buyer that kept me busy. he takes 3months off a year, so i started stockpiling. got to a point that i was overloaded, so started selling up to seven 68lb bags a week on ebay just to keep inventory down. Buyer is back so we are busy again. Ryedale gets a workout and its one of the best investments I have made. Had a small setback last month where i broke the wires on the Ryedale, but i have to say the Andy at Ryedale is the best and had me back working in no time.

 

[HoosierDaddy]

Have been saving coppers in a giant ammo can (and rolling / boxing / stacking zincolns). If (when) inflation hits full force, the penny and nickel will very likely become obsolete. People won't want them, banks may not take them, the government will stop making them (already a $$$ losing venture), etc. If that happens, melting may be allowed and the copper value will be a strong profit. If, by chance of a miracle, US dollars are not dropped from helicopters in the future, they each are still worth exactly what I paid for them. In short, opportunity for gain = possible to probable. Chance of loss = nil.