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Copper Penny Hoarding
Iceberg77
Posts: 46 ✭✭✭
I have been thinking about hoarding copper pennies from 1959 through 1980 just for the heck of it. What do you think?
I have been collecting and/or hoarding Wheat Pennies for over 46 years and have about 18,000 in my hoard as of now. I just think hoarding the 1959 through 1980 would be cool to add to the hoard. I am not interested in anything newer than 1980.
I have 3 complete Lincoln penny collections from 1909 thru 2025 which has all keys including (3)1909 S VDB's.
tia
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people here hoard them
are you hoarding to sell them later?
Actually.... you are kinda late to the party. Those cents are disappearing fast after the news the cent production will be ending.
I've been going threw rolls for a spell now just for the coppers and maybe a real nice coin. If anything I got some $$$ stashed
OP, if you're hoarding copper, why stop at 1980? All of 1981 and part of 1982 was also copper.
Storage space and shipping cost speaks against hoarding of such coins.
The storage would get crazy if you were hoarding enough coins to make a difference.
Not sure what I want to do, I just was thinking about it a couple of nights ago when I couldn't sleep...
Actually.... you are kinda late to the party. That's me, Johnny Come Lately.
Since you asked - I think it is ridiculous. The space, weight, storage, etc. And just what significant time are you waiting for that would have you cash in so to speak. And what makes hoarding such a worthwhile endeavor? Here I am tossing cents back into the circulation hoping to snag a new collector especially because there is no value to me in trying to sell and cover shipping materials and my time. So inquiring minds want to ask - why bother?
WS
There was a guy who hoarded 1M face of pennies.
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
Refresh this thread when you are at this point of hoarding.
@Iceberg77
Another view.
@Iceberg77
I wanna see the Ferrari in that carport
"Inspiration exists, but it has to find you working" Pablo Picasso
Agreed, no dealer wants bulk cents in quantities like this. So you would have to spend the time to break your horde up into smaller quantities. Even then many small brick and mortar shops might pass as the workload to deal with bags of cents is not worth the small profit. Banks might not want them unless rolled, think of all the time that would take. It's your time and your decision, but I also see no worthwhile reason to horde cents.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I believe the hoard pictured above were mostly wheat cents if I remember correctly.
they were all wheats
and the retail, at least, price on them went up a penny since
If i couldnt sleep I would try to think about hoarding pennies to put me to sleep
I accumulated about 12,000 of them in the course of trying to find major varieties. Took them to the shop one day and got face value. That's all they would pay. I found that about 1/4 of all the pennies I searched in rolls ($25 boxes) from the bank were 95% coppers. So, 50,000 pennies searched nothing special found. Took the $120 from the shop for the pennies and spent on some collector coins there. I came out smelling like a rose on the deal with $180 or so value (in my estimation) of collector coins from the shop.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
I put away a box a week. I leave them sealed. Although I burned myself out on searching cents, I think that I might get the itch to binge some. I stack them in plastic boxes with desiccant packs.
The trash cans full of pennies"
Are they sorted by date, mint, and variety?
I looked in my change drawer the other day, and found a few 1960-1981. I had been saving the 82's (because of the varieties) and earlier because of the copper. But my hoard is tiny compared to my deceased father in law who started saving wheats (pre 1959) back in the 60's. He had a few coffee cans worth when he died. My mother in law was thinking of taking them to coinstar. I talked her out of it, saying they were worth $1 each, but coin dealers will only give you 2-3 cents for melt value. So far it worked. Next time I fly across the US to visit her I will be bringing them back.
To the point of the thread: They are worth 1 cent at the bank. I'm sure there are people who will buy them for "melt value" of 3 cents. But if you have time to search for dates, seperate them into ziplock bags by date and mint. Then put them into rolls, labeled with dates showing on ends. And store them somewhere in an airtight box. I wonder how many coffee cans full of old Lincolns are hiding in peoples garages and attics?
I thought people hoard them for copper melt not for collectible value.
I'll really be impressed when someone has all those big trash cans full of IHCs.
They don't pay melt for wheats. They pay a price based on the retail price (currently $250 per bag). They don't and can't melt them.
Remember, this is just one person's hoard of wheat cents. Think of how many more hoards are out there. They are common, common, common. I recall hearing of a hoard of several million wheat cents existing in my area ... and that was at least twenty-five years ago!
I throw 1981 and older cents into a bag. I have several bags now. They are not worth much, but they only cost me a cent each (they are worth more than that now).
Storage is not really an issue if you own a house and keep it organized. There is always some place to stack them, such as the garage.
I have a five gallon water jug 1/2 full of 1959-1982 copper cents in the shop. Unsure why it’s not full, yet. I’m not trying hard enough.
``https://ebay.us/m/KxolR5
Good luck though trying to schlep 10’s of 1000’s of lbs of pennies out of your house and hoping that a dealer takes them.
Dealers pay two cents apiece for wheat cents. Thats not a very good ROI over 46 years.
I just talked to a dealer ag FUN who was selling them at 5x face. He said that someone bought 61 rolls from him at one time. 😮
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
In coin collecting, one of the biggest wastes of time there is. In the 1970s I had a huge five gallon jar of cents, of course all copper. In 1981 there was a shortage and the bank paid two times face. I took them in. I never kept a stash after that.
So, doubling your money was one of the biggest wastes of time for you. Got it ✓
Nickels might be worth hoarding as well.
I knew it would happen.
Back around Y2K one of the leading preppers advised everyone to invest in boxes of nickels and to use them to armor your outside walls by stacking boxes on the floor and up the wall. The idea was the coinage was dense enough to stop bullets from penetrating into the house and would also serve as money if you needed to buy anything. I think I stopped buying nickel boxes when I had 10 or so and hated to have to move them around to sweep the carpets. The proponent was, I believe, J. Wesley Rowles, and a lot of people closely followed his advice and instructions. I guess I could take the boxes to the bank and get my cash back out since there is no way I'm going to search the boxes but then I'd need a little red wagon or something to be able to wheel those boxes in. Who knew?
They'll pay more than 2 cents on large quantities. But the ROI even at 4 cents is not good over decades.
None of the dealers around me will buy them at more than 2C apiece, unless you have more than 5,000.
I started off separating pre-83 cents and eventually began weighing anything 1982, keeping each kind but separated, as well as Wheat Backs and Indian Heads. Then I started finding out about stuff.
The penny hoarding now is a decent way to get a small string of happy, joyful moments, right there in my hand. I keep them sorted, because it scratches that itch. That it won't be worth much in my lifetime doesn't bother me, I'm achieving perhaps silly, but easily set goals for whatever vessel gets filled and put away.
I don't have anything near one 55 gallon can, much less a garageful of them. I'd settle for one 55 gallon can full of Commemorative Half Dollars.
Say, brother, have you a long lost rich relative you can spare?
I would gladly go through nickel boxes from the year 2000.
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
But, but you are not allowed to be happy with the way you save items unless it meets the approval of all other members of the hobby. Any one person can demand to veto your enjoyment and berate you for not doing things their way.
Should be easy to meet the standard. All you have to do is first please all other people all of the time, only then are you allowed to be happy. (End of sarcastic rant.)
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
Mom...what are you doing here?
We're not happy until your not happy...
There's a story out there about a fellow who has accumulated an enormous amount of 95% Cu Lincolns and hopes to cash in on them someday when they are legal to melt. Had $250,000 face value when I saw the story couple of years ago. When one considers storage and transportation cost along with paying needed help is there going to be any profit for him at the end of the day?
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Double post, sorry
>
Maybe more bragging rights than anything, just saying
Well, I have about 10,000 wheats I need to get rid of but don't know how to do it.
Don't forget the opportunity cost. If he holds them for 8 to 10 years, he needs $500k just to break even BEFORE the other costs.
Can you say Match Box?
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That's just two bags. I stick them on ebay when I get them. They ship well in a flat rate box and reinforced brown tape.
Right here's your box.
"Inspiration exists, but it has to find you working" Pablo Picasso
How many per box, and which flat rate box? I don't do this very often so I'm clueless.
A PM flat rate box has a max weight of 20 pounds. The Post Office have these free boxes in their lobbies too. I have read that you can order shipping boxes from the Post office and they deliver. i usually get mine in the lobby, I go tere 2 or 3 times a week anyhow.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
Might want to check your source. Weight limit for flat rate USPS is 70 lbs; direct quote from USPS website:
"Weight restrictions for domestic Priority Mail Express Flat Rate Envelopes, and Priority Mail Flat Rate Envelopes and Boxes are 70 pounds. "