Who’s collecting pre 82 pennies for copper value

You hold physical silver as a protection against politicians yet have capital in a silver fund who’s custodian is JPM think about it

 

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I for sure do not keep them. Just the key dates I needed, errors etc. but I like my Abes. But so true if you save them, wow, they would be everywhere. Although family ask me to look through theirs. lol!

 

Dude, I’m 75. Everything is short term. If I need to get out of my etf holdings it’s instantaneous
Pretty sure my physical holdings would get me into Canada. Or maybe Mexico

 

Yea I guess if you’re 75 it’s different. As a much younger person I feel much more comfortable holding hard assets physically. You never know when this house of cards collapses. I’d rather be a year early than a day late

 

Already late for physical silver. Short supply, premiums going up, extreme world shortage over at least over the next couple years (foreseeable future). Silver is mainly an industrial metal.
I hold most of my physical at below $15 oz.

 

The PM’s to hold are gold, silver, platinum and palladium and not necessarily in that order. Copper is way to plentiful to beat pm. The copper mine in Butte Montana has been operating since the Civil War. It’s known as The Richest Hill on Earth. Yearly it still produces to a of copper ore.

 

Turns out copper isn’t all that easy to mine. Not a popular neighbor.
https://www.mining.com/web/the-worlds-copper-supply-is-suddenly-looking-scarce/
And a huge supply gap is predicted over the next few years (foreseeable future)
https://glescrap.com/blog/why-coppe...May be,through 2030 is currently foreshadowed.

 

That still doesn’t make copper a pm.

 

Exactly, not to mention whatever fuel you use to melt them, electricity, gas, would cost you more than you'd make!

 

Don't melt your cents - because it don't make sense. Almost 2000 degrees to melt it. How much you think that will cost? Plus no one is going to buy an un-assayed homemade billet of copper anyway.

 

What about when the world ends and we have to use junk silver to buy stuff? Need these pre-82 cents to make change for that, right?

 

An associate requested help for someone who had ~40000 Copper cents, dating from teens to 1982, asking if I could facilitate a fair trade for certified Gold,

I got him a trade for 1/10 oz. MS/PF/PR 69/70 Gold varying date coins at a better price than any legit dealer would offer.

The new owner wanted to know if I could get a trade for the cents.

As an officer in several organizations as Big Brothers, Junior achievement, etc., I offered to partner a fair exchange to young individuals for completing development challenges where social recognition and funding would be exchanged.

You might consider something similar, as a personal challenge, or PM me, after establishing maximum real value.

JMHO

 

That sounds like a lot, but it's $400 face or 16 boxes of cents. I used to go through 2-4 boxes a week back in the roll searching days. Not much gold you can get from that.

 

In the late 1970s I would get $10 in cents at a local bank every payday, check them for good dates and save the others. This was done contemplating a day when the copper value would justify owning them, kind of like owning junk silver coins. I stopped doing this in the early 1980s but kept them for whatever reason.

 

Hope you haven't had to move too many times since then.

 

Suckers are collecting pre 1982 pennies for copper. Pennies are not Grade A copper
which is what the copper price is for. Pennies are an alloy and need to be smelted to extract the copper. When copper goes to $6 which it never has you can only break even at 25% for alloyed copper. And it's still illegal to melt them.

 

And yet people are buying all day long at 2xFV or more. I don't see the attraction of buying them at that level today, but if I were sitting on a pile of them, I'd sure rather sell them at that level than just cash them in.

The only cache of copper cents I'm deliberately hoarding is the beer bottle full of them that I accumulated in college, and taped shut in early 1982 when it was full. I did it because doing silly things is one of the main points of college. Today, forty-odd years later, it seems worthwhile to hang on to them a bit longer.

 

I sold some at 2 times face last year
Another 50 lbs this year.
It’s like renting a mine and selling the tailings for cash

 

I wish it was legal to melt them. Copper is a useful metal, and it could be put to much better use than as financially worthless cents.

In my magic world, the use of the cent as change would end, and it would be legal to melt the copper cents. At a big enough scale it would be profitable to take in raw cents as basically face value, separate the copper and sell that as metal, then cash in the remaining zincolns with the Fed who can then destroy them. Meanwhile all the collectors who have held on to mini-hoards for decades can then finally cash them out for something.

 

50 pounds of copper cents is about $75 face value, right? How much time did you have to spend sorting and separating them to turn that into an additional $75 of profit?

I'm still strong enough that I'd be willing to carry 50 pounds of something to a show to earn $75. But the number of hours I'd be willing to put into it gets smaller every year.