Is Hoarding Pre-1982 Copper Cents Pointless!

I hoard them because i get them in my change every day. Here in Canada copper cents were made until 1996. I'm sure that not news to most of you. I find them everyday in my change so there is no need for me to roll search. There everywhere and it seems that nobody has a clue that there worth more than a penny. Ive found Wheaties and King George penny's in my change haha

 

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Ooo that's good to know!:smile

 

If I were in Canada, I would be hoarding tons of their 1996 and before coppers!!!

 

ya I should buy some rolls at the bank but there everywhere I havnt felt the need too. I might grab a box next week and see what % of copper i can get lol

 

any new voters?

 

My question is by the time you actually hoard them how in the heck do you purpose you are going to move your penny hoard to get it scrapped? If you have a truck, well plan to make lots of trips and by the time you drive back and forth for your loads of copper pennies say good-bye to your transmission and gas!

 

I buy a few rolls here and there and also keep the ones I find in change. They can always be sold on ebay if nothing else. I'm not exactly filling up a garbage can.

 

My dad asked me if a $100 would be better spent on two ASE, or a few boxes of pennies. What do you all think?

 

ASE! Silver will carry more inflation then copper. Looks and smells better too!

 

Thanks.

 

Hoarding pennies, at least in Canada, is really nothing more than just that, hoarding. It's illegal to melt Canadian coins so hoarding pennies will never be profitable. Your old copper penny is worth as much as a zinc penny, so whats the point of saving them.

Just did some research and it appears it's illegal to melt U.S. coinage as well.




http://www.coinflation.com/turn_off_the_smelters.html

 

Melt bans are always temporary. They banned melting silver U.S. coins until they filtered enough of them out of circulation. Same will happen with the Cent. Also If they stop the cent it would lift the ban at least on the one cent piece.

 

i dont know what to think about it. i buy rolls from the bank, sort them pre 1982 and from the rolls of those i get i sell them for 1.50 and sell the regulars to a restaraunt for face value.

 

I save and roll mine.

 

I have a goal of putting away $10,000 in pre-1982 (copper bullion) by 2015. If copper value drops I will still have saved $10,000. If it goes up I make money. Either way I found a fun way to save that my kids help me with (and a compariter machine). I really like the wheaties & foreign coins I've been pulling out although nothing of high value. We have determined that finding silver in bank rolls is an act of futility.

 

What do you do with all the zinc? Do you actually hand search each roll? How are you storing them? In trash cans??? Sounds almost too heavy to store on a floor.

Thanks.

 

And these questions bring up another interesting scenario. It's a matter of when, not it, the government decides to axe the cent or change the composition so that it's more in line with their cost. Does anybody think this will drive up the price of the actual pre-82 coins and facilitate more hoarding by the general public? I doubt this move will sway the overall price of copper or pass a bill to melt them freely. But does anyone think this might drive the prices up on the coins themselves?

 

im ok with keeping anything with this exception i mainly hoard wheats... that thats just me now i will keep anything before 82 but will only hold it for a bit... then dump it..

 

I get the pennies in those $25.00 boxes and when I have $25.00 in copper I put them in a big ziploc freezer bag, put back in the box and tape it shut. Keep in mind that $10,000 is only 400 of these boxes so its not really that hard to store them. The zinc all gets cycled back to the bank (or should I say banks) and thats where it gets interesting. So far so good but the I'm a small business owner and the first time I get any guff someone is going to hear about it! The people who store in 5 gallon buckets make no sense to me. How you going to lift them?

 

Sorry, did not answer your other question. We use a compariter machine to sort zincs from copper. Then we machine sort the copper again and after that we hand sort for wheaties/foreign. It does take time but the real fun for me is finding interesting wheats