Copper and Nickel bullion

Pokermandude

I'm interested in hearing how many hoard these coins in addition to silver and/or gold. Personally I have maybe 20 lbs of pre-1997 Canadian copper pennies (98% copper) and a few pounds of pre-1982 Canadian nickels (100% nickel). It gets rather bulky, but it isn't costing me anything to pick them out of my change.

I am sure there were tons of people in the late 1960s who thought it was foolish old silver coins when the intrinsic value was such a small amount over the face value. But look where we are at now with silver coinage.

I have been collaborating with some others on an app which provides spot prices of these metals (copper/nickel/silver/gold), the current melt values of American and Canadian coins (with other countries to be added at a later date) as well as ways to track one's coin hoard/"collection". If you're interested in helping us beta test the software, please PM me with an email address for further directions. Thanks.

DrBuster

All my pennies get rolled, pre82 included, and swapped at the bank for dollars once/year. I do give it a quick peek but I only look for silver in my change or some foreign or buffalo or oddball stuff, and I'm a 99.5% cash dude day to day.

nibanny

My $ per sq foot ratio doesn't allow me to hoard anything...that's why I stick with gold and platinum and make silver rotating quickly.

If you have room it may make sense hoarding copper and nickel at face value.
Of course, you have to hope for the Govt to allow them to be melted.

Btw, this law shouldn't apply to Canadian coins, correct?

Pokermandude

<< <i>All my pennies get rolled, pre82 included, and swapped at the bank for dollars once/year. I do give it a quick peek but I only look for silver in my change or some foreign or buffalo or oddball stuff, and I'm a 99.5% cash dude day to day. >>



I actually just keep my copper pennies unrolled, loose in bags. I figure it will be easier to eyeball assay, weigh and sell them if they aren't rolled up.




<< <i>Of course, you have to hope for the Govt to allow them to be melted.

Btw, this law shouldn't apply to Canadian coins, correct? >>



As far as I know, it is currently illegal to melt pennies and nickels in Canada. But the law regarding pennies I believe will make them legal to melt this fall (or soon thereafter) once they are withdrawn from circulation and/or demonetized.

tneig

Have about 60lbs of copper pennies and as soon as copper goes up and/or I find someone local, I'll sell for 0.02cents a piece. The bulk of a 'seriously large amount' and 'how to sell' changed my mind on holding too much too long. Don't forget to deduct the loss on holding the pennys (money) long term due to inflationary losses. But its only one part of several methods of making profit from a box of pennies.

If you still like the metal part of it all: Sort a whole lot now and flipem fast for what can be gotten, and buy silver, repeat, then flip and buy gold. Or even quicker, spend 7,000 pennys on 1 gram of gold now.

Living off the Grid (on FB) shows how to use pennys to make resin covered flooring. Nice idea and a place to store them and to literally watch the money grow.

bronco2078

I have about $100 face in .999 canadian nickles and I pretty good stash of french 1 and 2 franc nickle coins.

For copper I hand sort about 20$ a week of rolled pennies from the credit union. I used to do more than that but they won't sell me bags of pennies anymore.

tnspro

so on the copper cent, is it 'yes for 1982' or 'no for 1982' as being copper. i keep the '82s and not '83's....am i correct?

OPA

In my book, only precious metals are referred to as bullion...Copper & Nickel are not considered precious metals.

PerryHall

<< <i>In my book, only precious metals are referred to as bullion...Copper & Nickel are not considered precious metals. >>



Agree---they are industrial metals.

derryb

I throw all of my nickels in a big jar for the day they become a precious metal.

OnlyGoldIsMoney

Nope - too much bulk for too little potential reward.

bestmr

<< <i>so on the copper cent, is it 'yes for 1982' or 'no for 1982' as being copper. i keep the '82s and not '83's....am i correct? >>



It's no to 1982. They made both copper and zinc that year so i keep 1981 and before to play it safe.

secondrepublic

I have a bucket of pre-'83 copper pennies. Sometimes I get rolls at the bank, but usually I just pull them out of change. The problem is that it takes a LOT of space and reinforced floors if you want to get serious about pennies. About $3,000 face value in pennies weighs one ton (2,000 pounds)...

BBN

I started hoarding copper pennies several months ago and found it wasn't worth the effort and time. Not to mention way too much bulk for convenience. In the end, I just Coinstarred them, took the 20 bucks I got and had a nice lunch at Quiznos with my daughter. That time spent was worth more than a pile of copper.

guitarwes

If you have an:

1) abundance of free time to sort out the copper cents
2) abundance of space to store them
3) abundance of life left to cash them in once the melt ban is lifted

then I say go for it. If not, then time spent is not worth the minute short term gain IMO.

fivecents

When the nickel gets debased will be a great time to hoard nickels.

Baley

Like my other favorite elements (platinum, gold, silver, the platinum group noble metals) I have less copper and nickel coins on hand than I can carry by myself. Maybe $200 face in nickels and a bag of various copper cents if they were all dumped in together, though many of both denominations are indian head

I can tote about 100 lbs a fair distance, I'm well underweight on all of those, in fact all together are still under. I have no interest in a ton of pennies or nickels, which is what it would take to double or triple in value an amount that would be meaningful in any reasonable time frame (I only expect to live another 40-50 years, which is the length of time it took from 1965 until now.

Withdrawing the stuff (old tenor pennies and nickels from circulation ) on an industrial scale would be another matter, but again, If i'm interested in overseeing machinery and production (something I've done for 20+ years) the product would not be copper or nickel bars

I do cheer for those hoarders and wish them well and also fun, which would be a component if someone likes searching for varieties