I'm An Amateur Next To This Guy

I only have a "little" hoard of 50,000. This guy takes the cake:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=220614523845&ssPageName=STRK:MEWAX:IT

 

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Dang - I was going to bid, but it was local pick up only. He is only asking 2.5 cents per coin.

 

Impressive.

 

It would be impressive if they were all wheat cents...but for bullion value only, he is asking to much.

 

Not a bad way to make 15k.

 

I thought this was funny

"Plus when, not if the economy collapses this copper will be worth a lot. That worthless paper you have in your wallet won't be worth anything."

which is exactly whey he's exchanging this precious copper for worthless paper

 

......what a waste of time!!

 

i will bet they won't sell....

he is going to be pretty upset, when, not if they don't sell, but at least he will be ready for the "collapse".

 

With that hoard, one needs to be careful of copper toxicity. :goofer: Just think of all the optometry, psychiatry, etc. bills if one actually decided to search through all those cents. TC

 

Wow, that's alot of roll searching!! Enough to last a lifetime! Here's what part of his ad says. " People are pulling copper from circulation just like silver was pulled. Now you hardly ever find silver in circulation. I think the same thing will happen with copper, every year the percentage of copper in circulation goes down. It is just a matter of time before these will be worth 4 or 5 times face value". You think it's true? He also says, they're worth $22,000 in melt alone, is this true? Anyone?

 

Since you can't melt them I don't think it matters. That guy's brain has obviously melted, but I don't think it's made him all the more brilliant....do you?
Guy~

 

What the fool doesn't realize is that buyers of copper pay the highest prices for Grade A Unalloyed copper. The price for mixed-alloy copper drops drastically and doesn't come anywhere near melt value.

Chris

 

Well, jeee-wiz, that's a lot'a pennies ya got there. (Auction is in Fargo ND, so if you havent seen the movie "Fargo" you wouldn't understand)

 

"Plus when, not if the economy collapses this copper will be worth a lot"

Sorry but you will need silver bullets when that happens.

Copper doesn't work against werewolves.

 

That takes roll searching to whole new level.

 

I have a couple questions... First, isn't there some law on the books about 'hoarding' coins? I remember some little old lady getting fined here locally a few years back, or atleast reprimanded for turning in something like 60,000 pennies she had stored in the attic... Not that many of us don't also do it, but I wouldn't advertise to the world that I do it, just in case...

Also, I work as a plumber so I routinely make trips to the scrap yard to clean the truck off... I noticed that when the copper prices went to nearly 4.00/lb locally that every drug addict and thief came out of the woodworks with the stolen copper from thousands of homes... Very quickly then, I mean within about a month, the copper prices shot back down to about 1.50/lb... So my question is this... If they actually allow the melting of copper coinage, and change the composition of the new cents, and all these people are holding copper and rush to melt it at the current rate (call it 5.00/lb for argument's sake), then wouldn't the price rapidly go down with the new significant source of copper rushing in?.. And won't a lot of these hoarders be left holding cents that are worth less than what they are currently paying for them?... Supply and demand, ya know... Also, one of the largest copper users in the country is the U.S. Gov't and they are rapidly decreasing the amounts they need for the very reason that they are running short... Sorry, too wordy, but I guess what I mean is that there are a lot of VARIABLES that people don't seem to consider when they act like copper 'bullion' is some kind of sure bet.

 

I like how the weight goes from 6,500 pounds to a magical 7,000 pounds in just a few sentences..... I guess if you stare at something long enough it actually gains weight.

 

I thought that too.
but he says 6500 pounds of bullion, and 7000 pounds of cents.

Since copper cents are 95% copper.
Which is still incorrect, since 95% of 7000 pounds is 6650 pounds... :rolling:

 

The market price for copper rises and falls just like precious metals, so that is not unexpected, but what thieves might add to the supply of copper in the marketplace is negligible. Thieves have been stealing copper piping from construction sites for decades. Anymore, the smart project managers won't take delivery of copper pipe until the day that it will be installed.

But, the point some of you are missing is that copper cents are an alloy, and as such, don't sell for the same price as unalloyed copper. If the market price for Grade A copper is $4.00/lb, copper cents would only be worth about 80c/lb because of the cost of refining it to extract the pure copper.

Chris

 

Current price for unalloyed copper - $2.7945/lb.

Approx. price for alloyed copper - 55.89c

7,000lb. x $0.5589 = $3,912.30

Gee! It seems I just misplaced $18K. Did anyone find it?

Just another sleazeBay low-life!

Chris