PDA

View Full Version : Somthing odd!



Ritch
05-25-2011, 07:49 PM
Copper pennies cost more than gold, if you buy with Indian head cents. For example, a bag of Indian head pennies, 5000 count, or $50.00 face value is around 5 thousand a bag. In other words $50.00 dollars worth face value indian head pennies will trade for two double eagles and an eagle, or $50.00 in old gold coins, and you can still have a hand full of pennies to still hold on to.
Now a bag of 5000 wheat pennies can be found for less than $400 a bag. 1909-1958. And pre 1982 can be found in circulating chang. All about 95%copper.
Whats weird is that 50 indian head pennies will trade for a MORGAN SILVER DOLLAR, or 1700 indian head pennies will trade for a double eagle.Thats $17.00 face of copper, for $20.00 face in gold.
Why not wheat pennies?
Im thinking by rights a pound of copper is worth an oz. of silver. 20 lb. of copper is worth an oz. of gold. 20 oz. of silver is worth an oz. of gold.
If my thinking here is improper, please explain. I'm confused

GJG_Gold
05-25-2011, 08:31 PM
your not buying the metal value in those pennies....

numismatic value maybe?????

Ritch
05-25-2011, 08:41 PM
your not buying the metal value in those pennies....

numismatic value maybe?????

otherwise, buy pre 1982, a buc fourtytwo is about a pound.

Ritch
05-26-2011, 08:29 PM
A few weeks ago I thought I found a good deal on a bag of wheat pennies. $329+35 freight, TOOK 3, to off set my loss I found $250 freight paid and ordered the same, now today I FOUND $209+8.95 FREIGHT. THINKING,I will get 6 tomorrow. Thats $6.00 a lb. copper. $2.00 over spot for wheat pennies
A silver lining may be found, which group may have alot of pre 40's.

hortstu
05-27-2011, 01:37 AM
A few weeks ago I thought I found a good deal on a bag of wheat pennies. $329+35 freight, TOOK 3, to off set my loss I found $250 freight paid and ordered the same, now today I FOUND $209+8.95 FREIGHT. THINKING,I will get 6 tomorrow. Thats $6.00 a lb. copper. $2.00 over spot for wheat pennies
A silver lining may be found, which group may have alot of pre 40's.

How many wheats are in a bag?

bandicou2010
05-27-2011, 06:17 AM
Im thinking by rights a pound of copper is worth an oz. of silver. 20 lb. of copper is worth an oz. of gold. 20 oz. of silver is worth an oz. of gold.
If my thinking here is improper, please explain. I'm confused

1 lb of copper is worth $4.25 roughly, which is not equal to $37.50 (an ounce of silver.

20 lbs of copper is worth $85, not $1500 (an ounce of Gold).

20 ounces of silver is worth roughly $750. Once again about half the price of an ounce of Gold.

Were you being serious? Or did I not get what you were asking. You should not be trading anything... this is very simple math.

brewboss
05-27-2011, 06:19 AM
If you notice, the original thread was usin INDIAN HEAD pennies which are worth more numismatically than wheats or newer pennies. In that case the op is correct.

Ritch
06-06-2011, 07:00 PM
If you notice, the original thread was usin INDIAN HEAD pennies which are worth more numismatically than wheats or newer pennies. In that case the op is correct.

That makes me 20 bags heavier. 700 lb copper wheats. Theives are lazy, it will take work to steal pennies & and alot of faith someone is not xing them in a scope.

chuckno
06-15-2011, 04:03 AM
Copper pennies cost more than gold, if you buy with Indian head cents. For example, a bag of Indian head pennies, 5000 count, or $50.00 face value is around 5 thousand a bag. In other words $50.00 dollars worth face value indian head pennies will trade for two double eagles and an eagle, or $50.00 in old gold coins, and you can still have a hand full of pennies to still hold on to.
Now a bag of 5000 wheat pennies can be found for less than $400 a bag. 1909-1958. And pre 1982 can be found in circulating chang. All about 95%copper.
Whats weird is that 50 indian head pennies will trade for a MORGAN SILVER DOLLAR, or 1700 indian head pennies will trade for a double eagle.Thats $17.00 face of copper, for $20.00 face in gold.
Why not wheat pennies?
Im thinking by rights a pound of copper is worth an oz. of silver. 20 lb. of copper is worth an oz. of gold. 20 oz. of silver is worth an oz. of gold.
If my thinking here is improper, please explain. I'm confused

I'll believe the above when you post in trade that you will take 5000 indian head pennies for 2 double eagles and 1 eagle.

Ritch
06-15-2011, 06:40 PM
I'll believe the above when you post in trade that you will take 5000 indian head pennies for 2 double eagles and 1 eagle.

2 BU DOUBLE EAGLES AND 1 BU EAGLE for $50.00 face value Indian Head pennies in like condition.