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Should we be jumping on the penny hoarding bandwagon??
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<p>[QUOTE="JCB1983, post: 1320974, member: 23885"]I don't know about all of that. I'm going to read up on it. The key here is whether or not that law gets passed.... One thing that I am sure about is that the price of copper is going to continue to go up. China is expanding its info-structure x10. An estimated 200-400 Million people are moving from farming communities out west, to the shipping ports and cities on the East China Sea. That is more than the entire population of the United States. The result is going to be much like the massive info-structure of the U.S. during the baby boom. I could see the price of copper tripling. So I could see this as a wise hobby/investment on your spare time. Say for instance you invested 500 dollars in a sorting machine, bought some large buckets, and spent an hour in your day doing this; it wouldn't take long at all for it to pay off. It is a very simple operation. Go to the bank, buy $100 dollars in pennies, go home dump them in a sorter. Put them in your bucket, and set the other bucket aside to take to your other feed bank the next day. Say for instance 20% of the pennies were pre 1982, that is roughly 10 a roll, or 20 dollars worth in copper pennies. If this law passed, as it stands, you would have 53 dollars worth of copper per 100 dollars worth that you initially bought. The 53 dollars in copper comes from 20 dollars worth of pennies that you are physically holding, so you have a profit margin of 33 dollars at the current copper price. Multiply 53 dollars in copper x 100 (estimate 6 months time) and you have $5,300 dollars worth of copper while holding $2,000 in physical pennies (200,000 pennies). That is very feasible if you are committed, and have some time on your hands. Say hypothetically if the price of copper triples, you have close to $16,000 dollars in copper. I know this is a lot of speculation, but it seems fairly simple to me.[/QUOTE]</p><p><br /></p>
[QUOTE="JCB1983, post: 1320974, member: 23885"]I don't know about all of that. I'm going to read up on it. The key here is whether or not that law gets passed.... One thing that I am sure about is that the price of copper is going to continue to go up. China is expanding its info-structure x10. An estimated 200-400 Million people are moving from farming communities out west, to the shipping ports and cities on the East China Sea. That is more than the entire population of the United States. The result is going to be much like the massive info-structure of the U.S. during the baby boom. I could see the price of copper tripling. So I could see this as a wise hobby/investment on your spare time. Say for instance you invested 500 dollars in a sorting machine, bought some large buckets, and spent an hour in your day doing this; it wouldn't take long at all for it to pay off. It is a very simple operation. Go to the bank, buy $100 dollars in pennies, go home dump them in a sorter. Put them in your bucket, and set the other bucket aside to take to your other feed bank the next day. Say for instance 20% of the pennies were pre 1982, that is roughly 10 a roll, or 20 dollars worth in copper pennies. If this law passed, as it stands, you would have 53 dollars worth of copper per 100 dollars worth that you initially bought. The 53 dollars in copper comes from 20 dollars worth of pennies that you are physically holding, so you have a profit margin of 33 dollars at the current copper price. Multiply 53 dollars in copper x 100 (estimate 6 months time) and you have $5,300 dollars worth of copper while holding $2,000 in physical pennies (200,000 pennies). That is very feasible if you are committed, and have some time on your hands. Say hypothetically if the price of copper triples, you have close to $16,000 dollars in copper. I know this is a lot of speculation, but it seems fairly simple to me.[/QUOTE]
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