Is Hoarding Pre-1982 Copper Cents Pointless!

Those rydale sorters are neat, but 500 bucks is way out of my league.

 

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If you like saving them...then knock yourself out. If you're asking if there are better investments? ...the anser is "yes".

 

I believe Hoarding won over Savings account. I did check to see "what if", If I put $300 into a savings account in 1980 at an interest rate of 2.0%, This year it would have hit $543.41, Now if I had just went to the bank and taken $300 Dollars worth of pennies and put them into the closet for 30 years at todays price I would be sitting on $672 worth of Actual copper weight. Hoarding wins
*Note* That I was only comparing 0 risk options, this doesn't really show the possibilities of investing strategically.

 

copper bullion is pointless unless you can find spools of copper wire for free

 

why not when now they are worth at least 1.5X face and picking from bank rolls? ppl used to push aside Morgans bec. they were so numerous

 

I voted: It's a Cent, Just Spend IT Already!!! However, if someone is having fun saving them I do not see the harm of it. It is all about enjoyment. TC

 

Nothing of value is pointless.

I just proved how holding copper bullion out did putting the same amount of money into a savings account, or do you view savings accounts as pointless as well:thumb:

 

My attitude is, if I find one in change, to save it. I probably have 1,000 circulated 1950-1982 bronze cents. It doesn't cost me any effort to put them aside and I haven't lost any money by "hoarding" them. That 1,000 coins translates to $10, so I'm not concerned about lost opportunity costs because I didn't invest that $10. And if bronze cents do eventually have a premium (like wheaty's), then I'm ahead of the game.

In a similar vein, if you see a cent lying in the street will stop and pick it up? or is 1¢ not worth the effort?

 

Its not going to hurt anything to hoard them, but with people stealing copper pipes from schools right now, might be worth it in while. IDK tought

 

Depends on which side of the coin is showing. Worst day of my life was when I picked up a "tails".......

 

Pennies and nickels both have copper, why give them to the bank at nothing %? --yes, I'm hoarding the physical which is endangered: In the Netherlands they want to go to a cashless society in five years, all money will be virtual, gone with the click of a keystroke. I pay with cash too, wherever I can. And if things get stranger, I will change my bank savings into rolls of coins (too heavy to steal) stick them in the attic, and the bank can go whistle.

 

Differs

I was taught different standards. There used to be a little rhyme that went with finding a heads up coin. Something about it bringing good luck.

Tails up means you just got a freebie.

 

It's probably pointless. I'm going to keep them anyway because (1) someday they might have a value greater than today, and (2) I can't bring myself to spend something worth 2 cents and only get 1 cent worth of merchandise in return. It's a hobby after all.

 

I am sure if had home computer's back in 1958 folks would be saying spend them wheat cents too.
who know what in 20 year or so what a nice spot free unc red/brown LMC will be worth?

 

Even if melting wasn't against the law - a scrap yard would not pay full melt value. My guess is they would be discounted significantly - 25% or so.

 

That's still 66% above face value even with the discount.

 

Maybe only worth 2.2212 cents today, but should be on an upward trend with the inflation that is going to come. Also the nickel is worth more then 5 cents.

 

The reality is they are worth one cent today, yesterday or tommorow and not one cent more.
There is no place to sell them that I know of and it is not currently even legal to smelt them.
Try opening up a retail shop buying and selling these then come back and tell us how much money you are making.
This topic is so worn out it's beyond me to even figure why on earth it still gets postings, but that shows what I know.
I cannot figure out the value of something sitting in your basement unsold with no place to even possible sell it, and then to beat it all you keep adding to it.
Can some one fill me in on this???

 

I don't understand why some of the people who don't keep them seem to get emotional about it.

I keep 'em, and it isn't much of a bother. I don't roll search cents all the time, but when I do, it gives me something to keep and save. If I need the money, then I can spend them. However, I think they will sell for a premium in the future. JMHO

 

I don't search rolls, but I do go through my change and put my coppers in a bowl on my shelf. Don't know if I'll make any money, but those few bucks I have saved might come in handy when my wallet gets a little light.