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Copper at a 19-month high

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
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?
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    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?

    Liberty: Parent of Science & Industry

  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <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.image So far...5 rolls $2.50 & I got the grand kids involved, they now look at every penny their parents receive in change.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    A penny saved is a penny earned!image

    I have 3 gallon jugs full of copper Lincolns recon I need to sort them.image
    Avid collector of GSA's.
  • bestmrbestmr Posts: 1,777 ✭✭✭
    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.
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • hammered54hammered54 Posts: 750 ✭✭✭
    who's buying at .03ea ? ...I've got a few hundred already rolled ready to sell...any taker's??
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  • cladkingcladking Posts: 28,649 ✭✭✭✭✭
    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.
    Tempus fugit.
  • DarinDarin Posts: 7,043 ✭✭✭✭✭
    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. image
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    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.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <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. >>



    image Well I'm not sorting the 1982's out of the gallon I went through!image
    Avid collector of GSA's.
  • DarinDarin Posts: 7,043 ✭✭✭✭✭
    Thanks Weiss, interesting information. image
  • softparadesoftparade Posts: 9,276 ✭✭✭✭✭
    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.

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