Is it just a penny? (sort of OT)
Riccar
Posts: 789
Thinking about all the copper (pre-1982) cents we find in the ground got me to "wander in my wonderings" today...
To earn ~$1,000 from gathering copper pennies, you would need to gather 100,000 copper pennies (or $1,000 worth and that = 560 lbs.)
I understand that a copper penny is worth a little more than double right now, and the weight mentioned above is based on recent zinc pennies, so these numbers are a rough estimate. But, I'm wondering... when would the majority of people figure it is worth pulling the copper coins out of circulation. For the government, it's worth it because they can deal with the hundreds/thousands of pounds. However, when do you think the average person will want to aquire 560 POUNDS worth of pennies to make about $1,000.
Is it worth the time spent sorting and rolling (or bagging)?
Where/when/how would you "cash in"?
Or, another thought- what would the price of copper need to be per penny in order to get you to start gathering?
3, 4, 5, _?_ cents per copper coin?
And, can you imagine lugging hundreds of pounds of coins around to purchase something?
Just curious if any others have wondered about this... If this has come up before, my apologies... please send me the link if it has - thanks.
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Sorting machines: http://www.ryedalecoin.com/
Jerry
I'm thinking it might be fun to see if I can fill up an old water cooler jug with those pre-1982 copper cents
(wonder how long that will take!)
<< <i>Thinking about all the copper (pre-1982) cents we find in the ground got me to "wander in my wonderings" today...
To earn ~$1,000 from gathering copper pennies, you would need to gather 100,000 copper pennies (or $1,000 worth and that = 560 lbs.)
I understand that a copper penny is worth a little more than double right now, and the weight mentioned above is based on recent zinc pennies, so these numbers are a rough estimate. But, I'm wondering... when would the majority of people figure it is worth pulling the copper coins out of circulation. For the government, it's worth it because they can deal with the hundreds/thousands of pounds. However, when do you think the average person will want to aquire 560 POUNDS worth of pennies to make about $1,000.
Is it worth the time spent sorting and rolling (or bagging)?
Where/when/how would you "cash in"?
Or, another thought- what would the price of copper need to be per penny in order to get you to start gathering?
3, 4, 5, _?_ cents per copper coin?
And, can you imagine lugging hundreds of pounds of coins around to purchase something?
Just curious if any others have wondered about this... If this has come up before, my apologies... please send me the link if it has - thanks. >>
Rick, either you're bored or you need many months of counseling.
<< <i>
Rick, either you're bored or you need many months of counseling.
probably a little of both!