I have over 50 Pounds in Pre-82 Pennies..now what do I do?

Halfhunter06

Is anybody taking this stuff?? Or am I wasting my time finding these and should take them to the bank.

epcjimi1

Sort all the wheats out and sell 'em to the guy on this board with nine 33 gallon garbage cans full of wheaties in his garage.

CoinCoins

i had a few hundred pounds a couple years ago and realized there was no point in it

i took em to the bank


i'm sure someday it'll be worth it to dig them out of circulation, but not yet

keyman64

Keep them until the Gov't Stops making them...then hope that it becomes legal to melt them...then sell them for the copper content...this should not take more than 20-30 years so.

AUandAG

Protect them first then bury them somewhere that someday someone will find. Out in the woods or such.
A detectorist finding them in 300 years will likely appreciate them! Bury them in glass as it won't hurt the
cents and won't degrade. Just an idea!

Make a map and mark it with an X and let the great grandkids search for it in 60 years or so.

bob

JamesMurray

<< <i>i had a few hundred pounds a couple years ago and realized there was no point in it

i took em to the bank


i'm sure someday it'll be worth it to dig them out of circulation, but not yet >>



if its worthwhile someday wouldnt it be wise to keep them now ?

Baley

It all depends on what your time is worth. If you enjoy separating, storing, and holding pennies, if you're having fun, then great! (this is the key).

I did the math for myself, and can't make the numbers work: the time and effort involved in acquiring and separating the coins, the storing and having to maybe move them around, the opportunity cost of having the cash (enough cash to make the project worthwhile) tied up in pennies, being "that guy" with several 55 gallon drums of copper, having spent countless hours accumulating them, gas driving to and from the bank to get boxes of mixed rolls, separating out the copper, the time and gas to return the zincs, the tripping over the boxes and barking my shins on the stored pennies, the washing the grime off my hands from handling them. And then TRYING to sell them? Personally, NONE of that sounds like fun. And as work or investment, standing to make maybe a dollar an hour for my time? no thanks

TheCoinGeezer

I probably have about 70 or 80 rolls of copper, non-wheatie Lincolns I've sequestered from circulation, mostly out of force of habit.
I have no idea what I will do with them.
So I'll just let my heirs decide when the time comes

Bochiman

<< <i>

<< <i>i had a few hundred pounds a couple years ago and realized there was no point in it

i took em to the bank


i'm sure someday it'll be worth it to dig them out of circulation, but not yet >>



if its worthwhile someday wouldnt it be wise to keep them now ? >>



Not if you (a) need the money more now and/or (b) don't expect to be around for that "someday" and don't want to burden your kin with having to decide what to do (since they may not be worth more after you are gone for quite awhile anyway).

OPA

<< <i>Is anybody taking this stuff?? Or am I wasting my time finding these and should take them to the bank. >>



Coinstar is

JamesMurray

All good points , as far as crunching numbers in search of a profit i think i accomplish that with the odd key date here and there and theres the bulk of the copper,it is fun and thats really the motivating factor.I doubt if any heirs i have will complain too loudly about inheriting my coins and if a couple hundredweight of copper memorial cents is a burden for them i don't think id be worrying too much. : )

mrearlygold

When you're done sorting all those would you please come over here and sort ours?

metalmeister

I am sure alot of folks are throwing pre' 82 cents in a bucket. I think its human nature to save anything of perceived value including coins with a melt value over face value. I do to

Manorcourtman

How bout a big melting party?

OldEastside

Kinda reminds me of the old joke where this gal goes into a bank
with a bucket of quarters and the teller says "my you sure have
hoarded a lot of quarters" and the gal says "well my sister helped
she HOARD some too!"

Steve

Halfhunter06

thanks guys, to the bank it goes

JamesMurray

If we could turn the clock back a few decades who amongst us would be seperating pre 65 dimes and hoarding those ? I liken the pre 82 cents to that , governments are replacing good money with bad money and have been for some time.
Because we can't melt them or flip them for an instant profit it's not worthwhile ? My old XO used to tell us to look at the big picture (standard military term for when theres no explanation) and in later years i think i actually got what he meant.

MrSpud

Do this with them

MrSpud

I wonder, is it legal to sell them to someone in Canada? And is it legal for Canadians to melt them.......

crazyhounddog

<< <i>Do this with them


>>



WOW!!!! That's amazing!!

MsMorrisine

<< <i>I wonder, is it legal to sell them to someone in Canada? And is it legal for Canadians to melt them....... >>




the regulations make it illegal to melt or to export for melting

fc

It is very refreshing to just get rid of all the things we used to hoard and live
a more simplistic life that is not cluttered with mass quantities of possessions.
Just convert them to cash and go out and get a nice dinner.

LanceNewmanOCC

<< <i>Sort all the wheats out and sell 'em to the guy on this board with nine 33 gallon garbage cans full of wheaties in his garage. >>



i wonder if this is the same person that had them listed on ebay with photos of them!
.

.

JamesMurray

<< <i>It is very refreshing to just get rid of all the things we used to hoard and live
a more simplistic life that is not cluttered with mass quantities of possessions.
Just convert them to cash and go out and get a nice dinner. >>



A lot of truth in that , i took it to the extreme and sold my home , ended my career , gave away or sold everything i owned and got on a plane. It's not easy to describe what that felt like , felt like i was 17 again and not a care in the world...almost lol best thing i ever did though

tahoe98

...how 'bout a nice give away on the boards for newbies

Zrider

I read someone on Ebay sold $100 face for $180 ..

SaorAlba

<< <i>

A lot of truth in that , i took it to the extreme and sold my home , ended my career , gave away or sold everything i owned and got on a plane. It's not easy to describe what that felt like , felt like i was 17 again and not a care in the world...almost lol best thing i ever did though >>



I have done that also, when I was 25-26. Literally sold my home, all my stuff etc and moved across the country. And it was a good move. If I do it again, I will go back to the old country.

TexasNationals

Heard of..... It is happening now $50 face 59-82 copper cents at $75 so far

johnny9434

that might be a good thing is to watch copper prices then put em on ebay. take your chances

khayse

melt them?



-Keith

bronco2078

I hand sort a 50$ bag from the credit union a week in the winter when I'm cooped up in the house. I was getting 80 to 85 bucks per 50$ lot of copper on ebay. I haven't sold any in a few months I don't spend much time inside in the warmer months.

Not a lot of profit in it but it helped keep my numbers up so I stayed a power seller to keep my discount. Its more like money laundering than anything else I get paid in lower ebay fees plus about 30 to 40 wheat pennies a week.

I haven't sold any since july copper has come down a lot not sure if I'd post any at this level.

TexasNationals

Buy 30 $50 bags and build one of these copper penny sorter

element159

<< <i>I am sure alot of folks are throwing pre' 82 cents in a bucket. I think its human nature to save anything of perceived value including coins with a melt value over face value. I do to >>


Yep. The copper will always really be worth more than one cent. But I dont't really expect anybody to buy them, I just save them because I like them.

droopyd

Melt 'em down and make bronze sculptures.

JustPlainAl

<< <i>..... now what do I do? >>




Another option is put them in a sack, tie it to your waste and jump in the water. This is a good idea if life is getting you down.

BigE

<< <i>

<< <i>It is very refreshing to just get rid of all the things we used to hoard and live
a more simplistic life that is not cluttered with mass quantities of possessions.
Just convert them to cash and go out and get a nice dinner. >>



A lot of truth in that , i took it to the extreme and sold my home , ended my career , gave away or sold everything i owned and got on a plane. It's not easy to describe what that felt like , felt like i was 17 again and not a care in the world...almost lol best thing i ever did though >>




Very cool----------------------BigE

Coulport

They don't have any qualms melting them in Mexico. Illegal or not, quantities are being moved south of the border to do just that.

Same thing happened in reverse when Mexico had a revaluation with their money and those large, high denomination copper nickel coins were shipped up here.

Lakesammman

Sell them to the Chinese - they don't care if it's illegal to melt them.

metalmeister

I read Canada was melting down their old nickel coinage