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Is Hoarding Pre-1982 Copper Cents Pointless!
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<p>[QUOTE="woodworker37643, post: 843608, member: 23792"]<b>There is a market for them</b></p><p><br /></p><p>There is an emerging market for them in bulk quantities, similar to junk silver bags. Most 'speculators' are holding on to them in hopes of the melt ban being lifted. If you look at some of the completed items on ebay under the search "copper bullion pennies" you will see that they are being traded there. I know that they are CENTS and not Pennies but that is how they are listed. They sell for up to 2.84X face depending on how well the seller can hype his item. Depending on what Federal Reserve district you are in the percent of pre82 copper still circulating ranges from 14% to 35%. If you can get a good supply bank for bags of cents and run them through a machine you built yourself to sort them and then have a great dump bank wanting your zincs you can have some fun and make a little profitt and keep all the wheat and indians that you come across. If your hand sorting you better enjoy it cause you wont make enough money to cover your time at min wage. I am a mechanical engineer and built my own sorters for less than 70 bucks each and have great bank contacts and have the system automated so that I spend very little time to go through several thousand dollars worth of cents every few weeks in my down time. So in short have fun first and dont expect to make a whole lot unless the economy really tanks and inflation skyrockets. Do a google search for 'real cents' and you can find a forum of guys that have fun sorting.[/QUOTE]</p><p><br /></p>
[QUOTE="woodworker37643, post: 843608, member: 23792"][b]There is a market for them[/b] There is an emerging market for them in bulk quantities, similar to junk silver bags. Most 'speculators' are holding on to them in hopes of the melt ban being lifted. If you look at some of the completed items on ebay under the search "copper bullion pennies" you will see that they are being traded there. I know that they are CENTS and not Pennies but that is how they are listed. They sell for up to 2.84X face depending on how well the seller can hype his item. Depending on what Federal Reserve district you are in the percent of pre82 copper still circulating ranges from 14% to 35%. If you can get a good supply bank for bags of cents and run them through a machine you built yourself to sort them and then have a great dump bank wanting your zincs you can have some fun and make a little profitt and keep all the wheat and indians that you come across. If your hand sorting you better enjoy it cause you wont make enough money to cover your time at min wage. I am a mechanical engineer and built my own sorters for less than 70 bucks each and have great bank contacts and have the system automated so that I spend very little time to go through several thousand dollars worth of cents every few weeks in my down time. So in short have fun first and dont expect to make a whole lot unless the economy really tanks and inflation skyrockets. Do a google search for 'real cents' and you can find a forum of guys that have fun sorting.[/QUOTE]
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