anyone still hoarding copper pennies?
konsole
Posts: 795 ✭✭✭
well are you? with the price way down from last year?
0
Comments
--Severian the Lame
around. if it is money we are trying to make by hoarding these.. i
would be better off just skipping a lunch at work or a coffee before.
much more profitable ideas with less crap to keep around.
yes, i pick pennies off the ground but i save a small basket worth of change
and then take them to the bank.
They become a hassle when you accumulate a ton of them. What will you do when you get tired of it? You'll pay coinstar 10% to turn them into greenbacks.
<< <i>no. i do not want the hassle of keeping many thousands of pennies
around. if it is money we are trying to make by hoarding these.. i
would be better off just skipping a lunch at work or a coffee before. >>
They don't take up a lot of space at all.
I don't see the problem with keeping them. It bugs me to spend a coin that's worth more than face.
If you want to save money you can both skip coffee/lunch and save your copper pennies.
Random Collector
www.marksmedals.com
<< <i>imagine if someone had hoarded gold coins in the early 20th century and managed to keep them through the depression. >>
imagine if someone would have instead taken that money and
used the power of compound interest or invested in a wide array
of stocks that were managed enough by selling off the losers.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Well, not exactly hoarding but we do have a 5 gallon water container that goes back over 20 years ago with pennies in it and it's filled about 70% of the way . It's heavy!
If the jug is made out of glass be carefull when you decide to empty it.. The glass bottom will break off...
<< <i>
<< <i>Well, not exactly hoarding but we do have a 5 gallon water container that goes back over 20 years ago with pennies in it and it's filled about 70% of the way . It's heavy!
If the jug is made out of glass be carefull when you decide to empty it.. The glass bottom will break off... >>
Thanks!
This ones's plastic
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
in bulk off of eBay, but I always sort them out of pocket change and throw them in an old cigar box (or 2 or 3).
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<< <i>So...uh...what do you do with them after you have a large hoard? >>
Who knows. Eventually, someday, sell them.
As I see it, you make an automatic profit of every time you put one away. That profit increases as the price of copper goes up. So long as it's not any real extra work, why not? I clip coupons from the Sunday paper for the same reason.
<< <i> imagine if someone would have instead taken that money and used the power of compound interest or invested in a wide array of stocks that were managed enough by selling off the losers. >>
LOL.
At the current highest rate available of around 2.5% you can double your money in the bank/money market in about 28.8 years.
Hmmm I will be 84 years old then!
Maybe it is time to repeal regulation Q.
<< <i>
<< <i> imagine if someone would have instead taken that money and used the power of compound interest or invested in a wide array of stocks that were managed enough by selling off the losers. >>
LOL.
At the current highest rate available of around 2.5% you can double your money in the bank/money market in about 28.8 years.
Hmmm I will be 84 years old then!
Maybe it is time to repeal regulation Q. >>
you make it sound like the highest rate available has always been
2.5%. so LOL back at you. We were talking over time. Feel free to check
a chart on past interest rates.
<< <i>C'mon fc... just admit it... we all KNOW your save the copper cents in your little pink piggy bank
uh oh. my secret plan for making money is out!
i will bet those pennies sit in people's homes until they have passed
away and their family will take them to the bank. wake me when
you can sell them for scrap.
<< <i>
imagine if someone would have instead taken that money and
used the power of compound interest or invested in a wide array
of stocks that were managed enough by selling off the losers. >>
This is the fallacy of the stock market. Everyone thinks they can beat the system. By definition, the average investor cannot.
The Dow Jones industrial average, the best known index, had a dozen original stocks. Only one of them (General Electric) is still in the index, most of the rest of them don't even exist anymore:
-- American Cotton Oil Company, distant ancestor of Bestfoods, now part of Unilever
-- American Sugar Company, now Domino Foods, Inc.
-- American Tobacco Company, broken up in 1911 antitrust action
-- Chicago Gas Company, bought by Peoples Gas Light in 1897 (now an operating subsidiary of Integrys Energy Group, Inc.)
-- Distilling & Cattle Feeding Company, now Millennium Chemicals, a division of LyondellBasell
-- Laclede Gas Light Company, still in operation as The Laclede Group, removed from the Dow Jones Industrial Average in 1899
-- National Lead Company, now NL Industries, removed from the Dow Jones Industrial Average in 1916
-- North American Company, (Edison) electric company broken up in the 1940s
-- Tennessee Coal, Iron and Railroad Company in Birmingham, Alabama, bought by U.S. Steel in 1907
-- U.S. Leather Company, dissolved 1952
-- United States Rubber Company, changed its name to Uniroyal in 1961, merged private with B.F. Goodrich in 1986, bought by Michelin in 1990. Link
The Dow's performance is only impressive over time because they kick out the weak performers. It makes apples to apples comparisons impossible against other asset classes. What would the Dow's performance be if measured by investments in these original 12 companies?
<< <i>
<< <i>
imagine if someone would have instead taken that money and
used the power of compound interest or invested in a wide array
of stocks that were managed enough by selling off the losers. >>
This is the fallacy of the stock market. Everyone thinks they can beat the system. By definition, the average investor cannot.
The Dow Jones industrial average, the best known index, had a dozen original stocks. Only one of them (General Electric) is still in the index, most of the rest of them don't even exist anymore:
-- American Cotton Oil Company, distant ancestor of Bestfoods, now part of Unilever
-- American Sugar Company, now Domino Foods, Inc.
-- American Tobacco Company, broken up in 1911 antitrust action
-- Chicago Gas Company, bought by Peoples Gas Light in 1897 (now an operating subsidiary of Integrys Energy Group, Inc.)
-- Distilling & Cattle Feeding Company, now Millennium Chemicals, a division of LyondellBasell
-- Laclede Gas Light Company, still in operation as The Laclede Group, removed from the Dow Jones Industrial Average in 1899
-- National Lead Company, now NL Industries, removed from the Dow Jones Industrial Average in 1916
-- North American Company, (Edison) electric company broken up in the 1940s
-- Tennessee Coal, Iron and Railroad Company in Birmingham, Alabama, bought by U.S. Steel in 1907
-- U.S. Leather Company, dissolved 1952
-- United States Rubber Company, changed its name to Uniroyal in 1961, merged private with B.F. Goodrich in 1986, bought by Michelin in 1990. Link
The Dow's performance is only impressive over time because they kick out the weak performers. It makes apples to apples comparisons impossible against other asset classes. What would the Dow's performance be if measured by investments in these original 12 companies? >>
well i knew someone would state this so i said you must at least manage
it enough to sell off the losers... or go with spider or diamond type
indexes which allows you to get in on the changes as they are made.
and actually your list does not look to bad to me. most of the companies
were bought out or aquired by existing companies today so i will imagine
your stock in that company would then be put into the newer one
that still runs today.. or something like that.
<< <i>
<< <i>C'mon fc... just admit it... we all KNOW your save the copper cents in your little pink piggy bank
uh oh. my secret plan for making money is out!
i will bet those pennies sit in people's homes until they have passed
away and their family will take them to the bank. wake me when
you can sell them for scrap. >>
Scrap or not..... I remember watching Ebay auctions that these were selling for 2 to 3 times face PLUS shipping.
Of course the copper fall has limited the amount more recently. I will take advantage of the next run up....
I only have a few boxes.. Pulled from bank rolls
<< <i>
<< <i>
<< <i>C'mon fc... just admit it... we all KNOW your save the copper cents in your little pink piggy bank
uh oh. my secret plan for making money is out!
i will bet those pennies sit in people's homes until they have passed
away and their family will take them to the bank. wake me when
you can sell them for scrap. >>
Scrap or not..... I remember watching Ebay auctions that these were selling for 2 to 3 times face PLUS shipping.
Of course the copper fall has limited the amount more recently. I will take advantage of the next run up....
I only have a few boxes.. Pulled from bank rolls >>
<< <i>
<< <i>So...uh...what do you do with them after you have a large hoard? >>
Who knows. Eventually, someday, sell them.
As I see it, you make an automatic profit of every time you put one away. That profit increases as the price of copper goes up. So long as it's not any real extra work, why not? I clip coupons from the Sunday paper for the same reason. >>
That assumes that someone will be willing to pay you the premium, or you melt them illegally. After costs, it's just not worth it imo unless copper skyrockets, in which case other metals will as well. I saved them for a long time, but recently dumped them into a Coinstar and bought a numismatic book on Amazon. At least I can learn something rather than hording a bunch of old cents.
--Severian the Lame
<< <i>It's been less than a week and those copper cents have seen a 10% gain in value. >>
yea but that is like saying the copper piping in your house just went
up 10%. it is not like you are going to rip it out and sell it for scrap.
same with the pennies. you cannot scrap them either.
<< <i>
<< <i>It's been less than a week and those copper cents have seen a 10% gain in value. >>
yea but that is like saying the copper piping in your house just went
up 10%. it is not like you are going to rip it out and sell it for scrap.
same with the pennies. you cannot scrap them either. >>
Aha, but if you had a truck full of copper pipes you'd ripped out of demolished homes for the purpose of scrapping, you'd be on the money. Unrealized gains are unrealized gains, be they equities, artwork, or a jar of copper pennies. It's all good.
--Severian the Lame
<< <i>
<< <i>
<< <i>It's been less than a week and those copper cents have seen a 10% gain in value. >>
yea but that is like saying the copper piping in your house just went
up 10%. it is not like you are going to rip it out and sell it for scrap.
same with the pennies. you cannot scrap them either. >>
Aha, but if you had a truck full of copper pipes you'd ripped out of demolished homes for the purpose of scrapping, you'd be on the money. Unrealized gains are unrealized gains, be they equities, artwork, or a jar of copper pennies. It's all good. >>
so the moral of the story if why not try to collect copper that you can
actually sell for scrap instead of US pennies which you cannot.
<< <i>
<< <i>
<< <i>
imagine if someone would have instead taken that money and
used the power of compound interest or invested in a wide array
of stocks that were managed enough by selling off the losers. >>
This is the fallacy of the stock market. Everyone thinks they can beat the system. By definition, the average investor cannot.
The Dow Jones industrial average, the best known index, had a dozen original stocks. Only one of them (General Electric) is still in the index, most of the rest of them don't even exist anymore:
-- American Cotton Oil Company, distant ancestor of Bestfoods, now part of Unilever
-- American Sugar Company, now Domino Foods, Inc.
-- American Tobacco Company, broken up in 1911 antitrust action
-- Chicago Gas Company, bought by Peoples Gas Light in 1897 (now an operating subsidiary of Integrys Energy Group, Inc.)
-- Distilling & Cattle Feeding Company, now Millennium Chemicals, a division of LyondellBasell
-- Laclede Gas Light Company, still in operation as The Laclede Group, removed from the Dow Jones Industrial Average in 1899
-- National Lead Company, now NL Industries, removed from the Dow Jones Industrial Average in 1916
-- North American Company, (Edison) electric company broken up in the 1940s
-- Tennessee Coal, Iron and Railroad Company in Birmingham, Alabama, bought by U.S. Steel in 1907
-- U.S. Leather Company, dissolved 1952
-- United States Rubber Company, changed its name to Uniroyal in 1961, merged private with B.F. Goodrich in 1986, bought by Michelin in 1990. Link
The Dow's performance is only impressive over time because they kick out the weak performers. It makes apples to apples comparisons impossible against other asset classes. What would the Dow's performance be if measured by investments in these original 12 companies? >>
well i knew someone would state this so i said you must at least manage
it enough to sell off the losers... or go with spider or diamond type
indexes which allows you to get in on the changes as they are made.
and actually your list does not look to bad to me. most of the companies
were bought out or aquired by existing companies today so i will imagine
your stock in that company would then be put into the newer one
that still runs today.. or something like that. >>
Everyone is not the average investor.
Try using something like the SP-500 or the Wilshire 5000 as a comparison instead of the DOW-30.
Inflation makes everything look like a good investment. Just look at gold.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>
<< <i>It's been less than a week and those copper cents have seen a 10% gain in value. >>
yea but that is like saying the copper piping in your house just went
up 10%. it is not like you are going to rip it out and sell it for scrap.
same with the pennies. you cannot scrap them either. >>
Aha, but if you had a truck full of copper pipes you'd ripped out of demolished homes for the purpose of scrapping, you'd be on the money. Unrealized gains are unrealized gains, be they equities, artwork, or a jar of copper pennies. It's all good. >>
so the moral of the story if why not try to collect copper that you can
actually sell for scrap instead of US pennies which you cannot. >>
Of course you can sell them for scrap, so your argument doesn't hold water. It's easy as pie to melt them down yourself.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
<< <i>
Aha, but if you had a truck full of copper pipes you'd ripped out of demolished homes for the purpose of scrapping, you'd be on the money. Unrealized gains are unrealized gains, be they equities, artwork, or a jar of copper pennies. It's all good. >>
Early last year when copper was at historic highs, there were actually police officers at the local scrap metal place full time. There were reports of copper being ripped out of new construction and then sold for scrap.
--Severian the Lame
Saving the pennys for whatever reason or potential has not got any downside risk to get upset over, even if they lose 80% of value.
Turns out I've got about 50 lbs. of wheat cents and 530 lbs. of copper memorial cents.
<< <i>Secondrepublic, you may have the answer to this. A couple years ago in Barrons there was an article which stated after the crash in, what was it 29, that it took untill one of the years in the 50s or was it the 60s to break even in todays dollars. It really surprised me how long it took. Do you know what that break even year was? >>
Weg, I saw this on Wikipedia and a few other places -- "After the 1929 crash, the Dow Jones Industrial Average (DJIA) recovered early in 1930, only to reverse and crash again, reaching a low point of the great bear market in 1932. On July 8, 1932 the Dow reached its lowest level of the 20th century and did not return to pre-1929 levels until 23 November 1954." Link.
It took 25 years for it to recover. That's a loooonnnnnng time. Here's a news article, from 2004, that makes the same point. The end of it has a comment which I found incredibly naive, reading it in 2009:
"The Dow, after peaking at 381.17 in September of 1929, fell to just 40.56 by July of 1932. It would take a quarter century, until 1954, until the Dow rose above 300 again.... [T]he experience of 1929 means another big depression is unlikely. "Today's economy is much more vibrant, more mature, more diversified," Driehaus said. "Margin calls are far better regulated. The Fed knows what it's doing. "It's a different world." LINK.
No comment.
to much effort, weight and storage problems to make it worth
while.
Camelot
--Severian the Lame