Copper at a 19-month high

Weiss

Each pre-83 cent is now "worth" $.0234 or 234% of face.

How much is enough to make you hoard them? $.03 each? $.04 each? $.05 each?

Baley

Imagine I make $50 per hour in my "real job"

To "hoard" $50 "worth" of "gross profit" (net of storage, transportation, transaction, and other expenses to "monetize" the "asset"), then PER HOUR,

I'd have to "process" (separate the pre-82s, collate, roll, and store) 5000 pennies per hour if they're "worth" 2 cents each, 2500 per hour at 3 cents each, ~1667 @ 4 cents each, etc.

How many pennies can you handle per hour? how much is YOUR time worth?

OPA

<< <i>Imagine I make $50 per hour in my "real job"

To "hoard" $50 "worth" of "gross profit" (net of storage, transportation, transaction, and other expenses to "monetize" the "asset"), then PER HOUR,

I'd have to "process" (separate the pre-82s, collate, roll, and store) 5000 pennies per hour if they're "worth" 2 cents each, 2500 per hour at 3 cents each, ~1667 @ 4 cents each, etc.

How many pennies can you handle per hour? how much is YOUR time worth? >>



As much as I'm retired, time is not a factor. I've been hoarding them from change received for the last 3 years. So far...5 rolls $2.50 & I got the grand kids involved, they now look at every penny their parents receive in change.

gsa1fan

A penny saved is a penny earned!

I have 3 gallon jugs full of copper Lincolns recon I need to sort them.

bestmr

I save the copper pennies I get in change. Every now and then, I'll get bored and get a box to search for wheaties. I save the copper ones then too.

hammered54

who's buying at .03ea ? ...I've got a few hundred already rolled ready to sell...any taker's??

cladking

I've been watching this.

I believe copper prices are the best coincident indicator of world economic health. The US might
not share in this recovery if we don't actually start making some changes though.

Darin

Weiss, isn't it pre 82 pennies? I noticed you wrote pre 83 and baley wrote pre 82.
Its important to me as I have 3,000 pennies I'm about to go through to separate the copper ones.
And actually I think I'm glad I gave my sister 5,000 pennies so I don't have to sort through all those also.

Weiss

Darin, the US mint made both copper and zinc cents in 1982. If you know what to look for, it's pretty easy to tell. Or, if you've got a simple scale that can measure the two, you can tell immediately.

To be honest, I don't mess around with either method. 1982 cents go right into the "return to bank" jar, even if I'm 99% sure they're copper. 1981 and before are .950 copper.

gsa1fan

<< <i>Darin, the US mint made both copper and zinc cents in 1982. If you know what to look for, it's pretty easy to tell. Or, if you've got a simple scale that can measure the two, you can tell immediately.

To be honest, I don't mess around with either method. 1982 cents go right into the "return to bank" jar, even if I'm 99% sure they're copper. 1981 and before are .950 copper. >>



Well I'm not sorting the 1982's out of the gallon I went through!

Darin

Thanks Weiss, interesting information.

softparade

I have been hoarding pennies just from change since the late 80's. I have a 5 gallon water cooler bottle that is 3/4 full and they are thoroughly settled into every nook and cranny. I need a hand truck to move it anymore. Why? I don't know, I just never stopped! One of these days I suppose I will go through them. I am sure there are many wheats in there among copper.