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<p>[QUOTE=&quot;Michael K, post: 3496382, member: 78298&quot;]You can&#039;t smelt and refine in your own home. Whether it is legal or not. The fire danger, toxic fumes, and equipment needed would not be cost effective.</p><p>In many other threads it has been explained that hoarding copper is a waste of time and money.&nbsp; For example, storage has costs. Even if it is in your own home, you are still paying to store it, since you aren&#039;t able to use that space for other things. The containers you keep them in may have some initial cost. Which detracts from your bottom line.</p><p>Transportation. When the time comes to schlep all these barrels of coins to the smelter, you have to do the work of getting them on and off a truck, plus the gas costs and the time involved.&nbsp; Copper cents are alloyed and the spot price is for Grade A copper. Alloyed copper brings 25% of the spot price. While the all time high for copper is $4.58 a pound, it is currently $2.89. They are still mining copper and it is unlikely to get to (at least) $6 a pound for 50 years if at all. And that&#039;s just to break even. All of the people hoarding copper are in for a rude awakening. Now you decide to cash them in at face value, which is the higher return.</p><p>You think a bank is going to just take your million pennies with no service fee? So now you have given up and decide to use the Green Monster, Coin Star at 11%. Now every $10,000 that you have in pennies is yielding you $8900.&nbsp; Save yourself the time and money and start cashing them in at face value now, before you end up taking a loss in the future. Also, if you wait 20 years to get $8900 on your $10,000 investment, with inflation, you&#039;ll be lucky to have $4000 worth of purchasing power for your $10,000.</p><p><br /></p><p>It&#039;s the old joke. We are losing money on every shipment. Yeah, but we are going to make that up in volume.[/QUOTE]</p><p><br /></p>

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