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s1lverbullet
06-13-2011, 08:04 PM
Anyone on here think it is worth to start stacking copper pennies? Been thinking about it but then again you are not allowed to melt down US coins are you? Is this a worth while investment in the long run? Keep in mind I am only 21 years old and already have a pretty good base stack of gold and silver for my age. I am in it for the way long haul and just wondering if copper pennies are a worthwhile endeavor. Thanks!

FriedNietz
06-13-2011, 08:24 PM
Sure, if you can get your hands on enough of the pre '82 coins that are 95% copper. Don't bother with the later ones (97.5% zinc).

Lots of people saving them evidently cause they are getting rarer as time passes. In a handfull of change I might find 3 or 4 now.

treasurehunt
06-13-2011, 08:25 PM
It seems to be a lot of work for little return.. Copper is currently at about $4 per pound.

Per a quick google search, it takes +/- 150 pennies to make 1lb.

That does show a return on your investment, however you will either need to stack a whole lot of pennies, or see copper price skyrocket in order to get any decent returns.

Just my... 2cents ;)

jidan
06-13-2011, 08:30 PM
if you dont feel like you have the time for pennies, but like the idea of stacking. just pick up some nickels.

abytot
06-13-2011, 08:36 PM
At 21 years old- collect everything. 82' and earlier pennies absolutely.
150 pennies= 1lb@ $4 per pound? This equates to a 300% increase in value.
Who knows what will happen 40 years from now- worst thing is you still have fiat money to spend- or spend to buy silver
21 and saving- man I commend you- keep it up!!

SilverSurfer25
06-13-2011, 08:43 PM
I just started searching penny rolls.

It takes about 45 minutes for me to search 1000.

So far ive only bought 20 rolls at a time but i want to start buying 40 rolls a day this week. Dump them all on friday.

I basically find 30% like a lot of people. I think im going to stop when i get 200 rolls. Some of my banks i can reuse rolls, some are plastic garbage rolls.

I just do this as i view it as copper on sale. Heard 154 pennies = 1lb of copper, so youre buying cheap, even though its illegal to melt.

Greenback
06-13-2011, 08:47 PM
There is a lot of info on that subject in this thread

https://www.kitcomm.com/showthread.php?t=69297

It boils down to how much free time you have and how deep you want to get into it. I did it as a hobby, something to pass the time since I won't watch TV. Back in 1981, 100% of the pennies were made of 95%copper. Now there are about 20% of thoes pennies still in circulation. By my calculations, we will be nearly out in about 5-10 years. Then these pennies will be like the pre-65 silver change. They won't be melted down, just bought and sold between people. But instead of by the oz, it will be by the pound. How much of that you want for face value is up to you.

I'm in my 20s too, and have a stack. I have been spending a lot of my free time tying to learn the market so I can start profiting more from the swings we have. So the penny thing has gone away for me for now. Maybe someday I'll pick it up.

By the way, Americans call them "pennies" but they are actually 'cents'. I learned that re 'cent' ly. :)

ibanker
06-13-2011, 09:01 PM
Sorting pennies is a huuuuuuuge waste of time. Did I mention huge? You can just go and buy 100 dollars face value on ebay for about 150 bucks shipped. How long would it take you to sort out 10,000 pennies? You're only paying 50 bucks for someone doing it for you. If you have that much spare time then study for your GMATS and get your butt into a good grad program (NYU, Colombia etc.). The return on a grad degree from a great school is priceless (don't bother with a second tier school). If you cannot get into the top 10 school in the country then don't even waste your time hence why you should ace the GMATS.

"After all, you're playing with pennies kid...use the time in a more productive way"

cpthnsolo
06-13-2011, 09:03 PM
I'm with you 100% Greenback. Cu pennies, and possibly even more so nickels, are this generations '64 silver. I sort all pennies by hand that I receive, however I stopped spending time on pennies as nickels need NO searching and are an alloy (Cupro-nickel 75/25) that will be readily accepted by scrapyards everywhere if the ban is ever lifted. Regardless of the ban Cu pennies and nickels are a win win if you want a fun and productive hobby for a few months ;) .


There is a lot of info on that subject in this thread

https://www.kitcomm.com/showthread.php?t=69297

It boils down to how much free time you have and how deep you want to get into it. I did it as a hobby, something to pass the time since I won't watch TV. Back in 1981, 100% of the pennies were made of 95%copper. Now there are about 20% of thoes pennies still in circulation. By my calculations, we will be nearly out in about 5-10 years. Then these pennies will be like the pre-65 silver change. They won't be melted down, just bought and sold between people. But instead of by the oz, it will be by the pound. How much of that you want for face value is up to you.

I'm in my 20s too, and have a stack. I have been spending a lot of my free time tying to learn the market so I can start profiting more from the swings we have. So the penny thing has gone away for me for now. Maybe someday I'll pick it up.

By the way, Americans call them "pennies" but they are actually 'cents'. I learned that re 'cent' ly. :)

s1lverbullet
06-13-2011, 09:07 PM
Yeah I meant to type "pennies" but I forgot the S. Thanks for the compliments on saving at 21, I'm way ahead of the curve and always have been at any age and plan on being a very wealthy person someday. Just gotta think like a rich man, buy used vehicles, turn silver gold and copper for a profit and ect ect ect... Not hard just takes time, but I am curious as to how your going to make money if you cant melt the coins down so industry can't actually use them unless of course we have a new currency system and no longer use the old copper pennies, but wouldn't this mean that the copper pennies will not be worth inflated values anymore and so stacking them would be useless anyway. I have been debating whether I should take the time but really all I want to do is work 50 or 60 hours a week and learn how to squeeze more money from metals, ect in my spare time.

cpthnsolo
06-13-2011, 09:22 PM
Sorting pennies is a huuuuuuuge waste of time. Did I mention huge?

For 80 or 90% of the population, I agree. If you live right by a pickup and drop bank and have a sorter (check out the super-cheap ones on youtube!), then pennies make sense too. However most of us would have to spend quite a bit of time and money on gas so that's why I think nickels make the most cents :p . Just stop in once or twice a month and pick up bullion for less than melt with no premiums :D . Zero time wasted and yet you have the next generations 90% for less than melt :cool: .

cpthnsolo
06-13-2011, 09:31 PM
If you guys want to learn a lot more about penny and nickel sorting/stacking you should check out the Realcent forums (http://www.realcent.org/) for more info. Tons of articles and discussions regarding the pros and cons of penny/nickel stacking.

@ the Mods... They don't make or sell anything (and don't compete with Kitco in any way) so I'm assuming it's ok to share the link.

Double3
06-13-2011, 09:34 PM
I see no reason not to do the pennies and nickels.

Can't lose. I have a bunch of pennies that I've just always kept separate for years and I recently separated them out. Now I stop by the bank once a week or so and change in my dimes and quarters (that I've been saving for years) for nickels. I had the bank order me my first box of nickels that I will pick up this week. I'm still trying to figure out if I want to spend the time sorting pennies though. I have a container that is a little over half full that I'd like to see filled up.

I'm new to the PM world and feel like I got in late. I feel like I'm getting in on this at the ground floor. If I'm wrong oh well.

SilverSurfer25
06-13-2011, 09:34 PM
What do people buy at one time (@ the bank)? $20?? Im asking because at some point im sure theyd say no.

Silvery
06-13-2011, 10:02 PM
Not only is it worthwhile but entertaining as well.:) Every time my 23 yo daughter comes over for a weekend visit she phones ahead to make sure I pick up a box of pennies to sort.

We have great conversations while sorting our box of pennies. We have fun doing it. That alone makes it worth it.

s1lverbullet
06-13-2011, 10:06 PM
http://www.coinflation.com/is_it_illegal_to_melt_coins.html

Funny how you posted this article and then I found this one attached to it at the bottom. Lol cheers.

http://www.coinflation.com/turn_off_the_smelters.html

P.S.-- I'm sure out of six billion people and growing on this planet that you can find someone that will buy the copper pennies for their copper value, no worries. Just found a 1929 penny in an old wooden barrel safe my grandma gave to me. Pretty neat, made me smile :)

Diadems_99
06-13-2011, 11:25 PM
Sorting pennies is a huuuuuuuge waste of time. Did I mention huge? You can just go and buy 100 dollars face value on ebay for about 150 bucks shipped. How long would it take you to sort out 10,000 pennies? You're only paying 50 bucks for someone doing it for you. If you have that much spare time then study for your GMATS and get your butt into a good grad program (NYU, Colombia etc.). The return on a grad degree from a great school is priceless (don't bother with a second tier school). If you cannot get into the top 10 school in the country then don't even waste your time hence why you should ace the GMATS.

"After all, you're playing with pennies kid...use the time in a more productive way"

The OP asked about copper pennies, not GMAT's or grad school. Weird place to pull up a soapbox man. You have a serious problem with reality if this is your overall mentality. Maybe I wouldn't know though, my grad degree came from a second tier school.

cdnmetalmetalhead
06-13-2011, 11:35 PM
aren't nickels to this date still 75% copper and the rest nickel?

Thats 121% of face value according to coinflation. why bother even sorting pennies?

cpthnsolo
06-13-2011, 11:42 PM
What do people buy at one time (@ the bank)? $20?? Im asking because at some point im sure theyd say no.

If it's your first time simply ask them if they have a spare box ($25 worth) of pennies. If they don't, kindly ask if they could order one for you for next week. Do this at your local bank while being pleasant and usually they'll help you out. Asking for a quantity of boxes and nickels at the same time initially is probably not the best idea. Start small, be friendly with the tellers, and then gradually increase your box count if you can.
:p

dan8802
06-14-2011, 12:17 AM
As for it being illegal to melt pennies.. hypothetically, couldn't one melt the pennies on their own, and then bring the copper bar to the smelter/ refiner?

johndaniels
06-14-2011, 12:39 AM
Sorting pennies is a huuuuuuuge waste of time. Did I mention huge? You can just go and buy 100 dollars face value on ebay for about 150 bucks shipped. How long would it take you to sort out 10,000 pennies? You're only paying 50 bucks for someone doing it for you. If you have that much spare time then study for your GMATS and get your butt into a good grad program (NYU, Colombia etc.). The return on a grad degree from a great school is priceless (don't bother with a second tier school). If you cannot get into the top 10 school in the country then don't even waste your time hence why you should ace the GMATS.

"After all, you're playing with pennies kid...use the time in a more productive way"


Lets talk about wasting time and effort.

College Conspiracy

http://www.youtube.com/watch?v=VpZtX32sKVE&feature=channel_video_title


College is the biggest "scam" out there.

chuckno
06-14-2011, 05:57 AM
What do people buy at one time (@ the bank)? $20?? Im asking because at some point im sure theyd say no.

Most banks the opposite if you pick up once a week. Multiples of $25 dollars, that way they order a few extra boxes from Fed Reserve. I've ordered $500 at a time, bank even loads them in my car for me. In my area thursday is delivery day.

chuckno
06-14-2011, 09:04 AM
Note too the April 10th 2010 date on the article...

The question has been asked a number of times and very often people will respond that melting or defacing US coins is illegal. This answer is false.

Here is the law.
"Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States. This statute means that you may be violating the law if you change the appearance of the coin and fraudulently represent it to be other than the altered coin that it is. As a matter of policy, the Mint does not promote coloring, plating or altering U.S. coinage: however, there are no sanctions against such activity absent fraudulent intent"

It could not be any clearer, you can do anything you want to do with your coins as long as you are not trying to commit fraud with your altered coins.

This applies to all US coins... but things get a little cloudy...

...As of April of 2007 the US Mint Under new rules, made it "illegal to melt pennies and nickels" according to one major news outlet.

Now the interesting thing is the use of the word "rule" instead of "law".
The mint cannot pass laws. Only Congress can pass laws but what do the major news organizations care what the constitution says?

I've tried to find out if the "rule" governing the melting of pennies and nickels has actual become law , My research suggests it has not. Please correct me if I'm wrong.

http://www.valuablecoins.org/melting-us-coins-silver-pennies-nickels-illegal-legal/

Since it's dubious whether one could get a clear answer (or find a government functionary in a position to say with authority) yea or nay, I would think that contacting a refiner on this might be the best course- certainly they'd know being the prime targets of action if this is not proper and legal :)

Interesting as the preferred method of making copper that is .999 pure is electrolyte plating. Then if you dissolved them to make copper anodes you would not have melted them and would not be in violation of law or rule.

DiscoStu
06-14-2011, 09:54 AM
It seems to be a lot of work for little return..

That's probably what folks said about dimes, quarters, etc in 1970... years after they went clad.
As far as being "a lot of work," I'm not going to buy and sort rolled coins, but it takes no effort to pull the pennies/nickels I get as change out of circulation and toss them into coffee cans.


Interesting as the preferred method of making copper that is .999 pure is electrolyte plating. Then if you dissolved them to make copper anodes you would not have melted them and would not be in violation of law or rule.

The amount of electricity involved in a home-based operation would probably significantly cancel out any gains.

namwalker
06-14-2011, 10:34 AM
That's probably what folks said about dimes, quarters, etc in 1970... years after they went clad.
As far as being "a lot of work," I'm not going to buy and sort rolled coins, but it takes no effort to pull the pennies/nickels I get as change out of circulation and toss them into coffee cans.

Interesting point. You almost never find silver coins in common circulation any more. I think that the same thing is happening now to both the penny and nickle. There is some sort of economic rule that says that bad coins drives our good coins. That seems to happening now. When was the last time you saw a wheat penny.

I went through 8 boxes of pennies and found just 80 of them. Right now I have an average of almost 24% in found pre '82 coins. That seems to be a pretty good average. When I have finished 4 boxes of sorted pennies, I just trade them in for a box of nickels, set them aside and don't even bother going through them.

I don't recall the source, but I seem to recall that nickels before 2009 have a melt value significantly above face. (not trying to change topic)

I feel that there is real value in pre 1982 pennies. 1982 pennies have a mixed result in their metals. IMO if you have the means set aside the pre'82 pennies.

People we melting down the silver coins years ago, that's why you don't see them much now. The same thing is going to happen to pennies and nickels.

s1lverbullet
06-14-2011, 10:48 AM
Lets talk about wasting time and effort.

College Conspiracy

http://www.youtube.com/watch?v=VpZtX32sKVE&feature=channel_video_title


College is the biggest "scam" out there.

Just finished college sir and I could not agree with you more. It was the biggest waste of my time and money ever. I wasted four years watching my friends get drunk and be idiots every night, and then pull C's and D's through their college careers. College is good for partying, and that is it. If your into that that is fine, but I'm not, and I would have much rather spent those four years working at some podunk job and stacking silver because I would be way ahead of where I am now. DON'T GO TO COLLEGE! DON'T WASTE YOUR TIME!

hortstu
06-14-2011, 11:09 AM
Just finished college sir and I could not agree with you more. It was the biggest waste of my time and money ever. I wasted four years watching my friends get drunk and be idiots every night, and then pull C's and D's through their college careers. College is good for partying, and that is it. If your into that that is fine, but I'm not, and I would have much rather spent those four years working at some podunk job and stacking silver because I would be way ahead of where I am now. DON'T GO TO COLLEGE! DON'T WASTE YOUR TIME!

Depends on what degree you get but I would say your sentiments are true for 95% of college bound kids. Also if you're not going into debt doing it, it might be worthwhile... if you're lucky enough to have parents paying the bill... but you're right, opportunity cost is a factor as well.

chuckno
06-15-2011, 12:57 AM
Depends on what degree you get but I would say your sentiments are true for 95% of college bound kids. Also if you're not going into debt doing it, it might be worthwhile... if you're lucky enough to have parents paying the bill... but you're right, opportunity cost is a factor as well.

When they quote lifetime earnings of those with college degrees for average for reason why you should go to college.
Do they take into account a simple BS degree costs $50-$200k.
So $50k invested for return of 5% a year for 40 years $351k
The more expensive colleges not even talking IVY legaue are $50k a year
so 200k invested for return of 5% a year for 40 years $1.4 Mil
Then there's Yale, Harvard, MIT etc even more expensive.
Look at college dropout Bill Gates. He took his college money and founded Microsoft.

2ndAmendmentguy
06-15-2011, 02:47 PM
When they quote lifetime earnings of those with college degrees for average for reason why you should go to college.
Do they take into account a simple BS degree costs $50-$200k.
So $50k invested for return of 5% a year for 40 years $351k
The more expensive colleges not even talking IVY legaue are $50k a year
so 200k invested for return of 5% a year for 40 years $1.4 Mil
Then there's Yale, Harvard, MIT etc even more expensive.
Look at college dropout Bill Gates. He took his college money and founded Microsoft.

I must respectfully disagree. I will have my BS in Chemistry at the end of this fall semester, and the four year degree has me in debt $16,000. That includes the total price of tuition, books and the whole nine yards. I must say that I did receive the G.I. Bill, Pell grant, and some scholarships. By the end of my PhD, with all of the monies given to me, I will have around $50,000 worth of debt. Going to college is definitely the way to go if you aren't a total dumbass that wants to get drunk and screw herpe-filled girls all day. If you have any kind of ambition and plan to excel in your studies, you can go through school with minimum debt. You just need to find the money because it is definitely not going to find you. There are no jobs in the U.S. for the average joe anymore. If there are, they can pay you anything they want, because there are plenty of foreigners who will work for less.
My first year out of school, as a pharmacist, I will be earning 6 figures a year. I will have my debt paid off in two years, then raking in the dough for watching a bunch of pharmacy techs all day. I could never make anywhere close to what I will if I did not go to college.

SilverSurfer25
06-15-2011, 02:51 PM
I love when kids say "im going to make this much money my first year out of school":p

2ndAmendmentguy
06-15-2011, 03:46 PM
I love when kids say "im going to make this much money my first year out of school":p

ROFLMAO!!! Kid? I am 37 with a wife and three kids. Sorry, but I already have an internship with CVS and they gave it to me in writing. I will be earning a salary of $105,000 yearly.

Kid.... That was pretty funny dude. Thanks for the laugh!:D

SilverSurfer25
06-15-2011, 04:00 PM
ROFLMAO!!! Kid? I am 37 with a wife and three kids. Sorry, but I already have an internship with CVS and they gave it to me in writing. I will be earning a salary of $105,000 yearly.

Kid.... That was pretty funny dude. Thanks for the laugh!:D

Your e-penis is officially bigger than mine!

2ndAmendmentguy
06-15-2011, 04:08 PM
Your e-penis is officially bigger than mine!

Hey. I did not write your comment. You did not expect me to be a grown man with a head on my shoulders. Not my fault you assume. By the way, it is probably larger in real life as well. ;)

Mercuryman
06-15-2011, 04:25 PM
I must respectfully disagree. I will have my BS in Chemistry at the end of this fall semester, and the four year degree has me in debt $16,000. That includes the total price of tuition, books and the whole nine yards. I must say that I did receive the G.I. Bill, Pell grant, and some scholarships. By the end of my PhD, with all of the monies given to me, I will have around $50,000 worth of debt. Going to college is definitely the way to go if you aren't a total dumbass that wants to get drunk and screw herpe-filled girls all day. If you have any kind of ambition and plan to excel in your studies, you can go through school with minimum debt. You just need to find the money because it is definitely not going to find you. There are no jobs in the U.S. for the average joe anymore. If there are, they can pay you anything they want, because there are plenty of foreigners who will work for less.
My first year out of school, as a pharmacist, I will be earning 6 figures a year. I will have my debt paid off in two years, then raking in the dough for watching a bunch of pharmacy techs all day. I could never
make anywhere close to what I will if I did not go to college.

In two years we might be in hyper inflation, Don't be surprised if you lose your job. Debt is a no no

bandicou2010
06-15-2011, 05:26 PM
In two years we might be in hyper inflation, Don't be surprised if you lose your job. Debt is a no no

Come on guys... the guy's trying to better himself and his family's situation. You gotta give him credit for that.

And, in inflationary times, debt is a good idea... that's why the US is trying to inflate their way out of their debt.

Besides the guy's got a big e-penis.

2ndAmendmentguy
06-15-2011, 10:14 PM
Come on guys... the guy's trying to better himself and his family's situation. You gotta give him credit for that.

And, in inflationary times, debt is a good idea... that's why the US is trying to inflate their way out of their debt.

Besides the guy's got a big e-penis.

I appreciate the support Bandicou. The big e-penis seems to garner quite some respect around here. If I knew that, I would have posted a picture of my e-penis a long time ago!

bandicou2010
06-16-2011, 07:11 AM
I appreciate the support Bandicou. The big e-penis seems to garner quite some respect around here. If I knew that, I would have posted a picture of my e-penis a long time ago!

:) Don't do that... Or Kitco will have its own Weinergate!!

Ritch
06-16-2011, 11:57 AM
:) Don't do that... Or Kitco will have its own Weinergate!!

With somthing like a," misdaweiner." or somthing.

hortstu
06-16-2011, 10:54 PM
I must respectfully disagree. I will have my BS in Chemistry at the end of this fall semester, and the four year degree has me in debt $16,000. That includes the total price of tuition, books and the whole nine yards. I must say that I did receive the G.I. Bill, Pell grant, and some scholarships. By the end of my PhD, with all of the monies given to me, I will have around $50,000 worth of debt. Going to college is definitely the way to go if you aren't a total dumbass that wants to get drunk and screw herpe-filled girls all day. If you have any kind of ambition and plan to excel in your studies, you can go through school with minimum debt. You just need to find the money because it is definitely not going to find you. There are no jobs in the U.S. for the average joe anymore. If there are, they can pay you anything they want, because there are plenty of foreigners who will work for less.
My first year out of school, as a pharmacist, I will be earning 6 figures a year. I will have my debt paid off in two years, then raking in the dough for watching a bunch of pharmacy techs all day. I could never make anywhere close to what I will if I did not go to college.

Exactly. Depends on what degree you get. Thanks for making my point. Of course you'll do well distributing drugs for big pharma!

Now I made the mistake off putting myself through college over an extended period for a degree in horticulture. I made the mistake of following my interests. I should have saved the money, learned the trade almost solely hands on and bought property after the bubble popped. Don't get me wrong I learned a great deal in school but so far it's not worth 30+g's of debt.

JPAagau
06-17-2011, 07:59 AM
Lots of people saving them evidently cause they are getting rarer as time passes. In a handfull of change I might find 3 or 4 now.

Can't get excited about sorting in bulk, but do separate the daily change. Left pocket nickels and pre-82 pennies, right pocket everything else, throw the left pocket in a bucket at the end of the day. Not so much a get rich plan but more a passive protest against money devalued below melt . . .

FPU4eva
06-20-2011, 12:15 AM
Lets talk about wasting time and effort.

College Conspiracy

http://www.youtube.com/watch?v=VpZtX32sKVE&feature=channel_video_title


College is the biggest "scam" out there.

registered to say ur right on the money, instead of college i opened a small business, and with the cash i buy silver(up to 30 ounces) i started buying a week or too ago and cant stop

i have 0 loans lol unlike 70% of my brainswashed sheeple friends, who cant comprehend their federal reserve notes being worthless, their like its money it buys things, i swear some people are so 1 minded anyone this is my first post wut up

hortstu
06-20-2011, 10:18 AM
registered to say ur right on the money, instead of college i opened a small business, and with the cash i buy silver(up to 30 ounces) i started buying a week or too ago and cant stop

i have 0 loans lol unlike 70% of my brainswashed sheeple friends, who cant comprehend their federal reserve notes being worthless, their like its money it buys things, i swear some people are so 1 minded anyone this is my first post wut up

Well technically it isn't worthless, yet. It buys things, like silver. Also, considering inflation is all but inevitable right now, if there was ever a time to go into debt now would be it... on fixed rate low interest loans of course... however for many college degrees this may be a bad idea right now, especially considering opportunity cost.

Any time you think people are being closed minded take a look in the mirror before you point it out to them.

So what type of business have you started?

bandicou2010
06-20-2011, 12:47 PM
"college is the biggest scam out there".

Yeah, tell that to all the banisters out there.

Mercuryman
06-20-2011, 06:38 PM
Searched 2000 pennies recently, results were 3 wheaties and roughly 500 + copper pennies. Best roll had 18 copper.

treasurehunt
06-20-2011, 10:52 PM
Searched 2000 pennies recently, results were 3 wheaties and roughly 500 + copper pennies. Best roll had 18 copper.


By hand or with a machine? How long did that take?

2ndAmendmentguy
06-21-2011, 10:48 AM
By hand or with a machine? How long did that take?

I myself sort two boxes (5000 pennies) a night while I sit and watch tv. I have attached a coin comparitor to a milk crate and built a divider with two buckets to catch them in. I have to hand feed them, but I have gotten used to it. I am still looking for a hopper that won't jam, but until then, my system works pretty well with a failure rate right at around 1%, which isn't bad. Takes around 2 hours give or take. Not too bad.

Mercuryman
06-21-2011, 10:51 AM
By hand or with a machine? How long did that take?

By hand i can usually search 500 in less than 15-25 minutes. Not the fastest, I have a buddy that has a penny counter. I might try to borrow that from him tonight.

Mercuryman
06-21-2011, 01:39 PM
Went through a box of 2500 today, got 7 wheaties and around %20-25 % copper. Took me about 1 1/2 hour's.

SilverSurfer25
06-22-2011, 10:39 PM
What are the dates for canadian pennies that are copper??

Mercuryman
06-23-2011, 01:20 AM
What are the dates for canadian pennies that are copper??

http://en.wikipedia.org/wiki/Penny_%28Canadian_coin%29

Google ftw!

Double3
06-23-2011, 05:31 AM
1996 and older I believe.

http://www.coinflation.com/canada/

chuckno
06-23-2011, 09:00 AM
What are the dates for canadian pennies that are copper??

To figure value you need the chart link above or a scale, as Canada had 2.5 gram copper cents

namwalker
06-23-2011, 03:49 PM
I wasn't going to purchase any PM's for awhile, but with the drop in gold I headed to my LCS to maybe doing a little purchasing. While I was there I talked to the manager about many things, but asked him about a scale that I was going to purchase to check my '82 pennies for copper. He said that I might want to rethink that idea, because he was in the process of purchasing some '82 copper pennies for resale. He couldn't get into pricing because he was still negotiating, but I thought that it was interesting that he was moving into copper pennies.

Anybody else out there have any similiar conversations regarding copper pennies.

He also wasn't to keen about the idea of stockpiling nickels because of the sheer magnitude of high melt value nickel coins. While I have a couple boxes of nickels, I'm not so sure that I will be stock piling to many more. His ideas of nickels didn't influence me because I was already a little leary of stockpiling them because of the abundance of appropriate coins. I was just purchasing the nickels and storing them without mining them. I was always figuring on mining them at a later time when some issues were ironed out.

Mercuryman
06-23-2011, 09:45 PM
Tonight i found a Indian head penny in a box of $25, it was really worn. date appears to be 1860's. Anyone ever find one of these in a box? My other finds include 16 Wheaties including a 1913 d. Worth about $5

2ndAmendmentguy
06-24-2011, 07:09 AM
Tonight i found a Indian head penny in a box of $25, it was really worn. date appears to be 1860's. Anyone ever find one of these in a box? My other finds include 16 Wheaties including a 1913 d. Worth about $5

I found a 1902 Indian Head penny last week in a box. It was a Brinks box. That is pretty rare overall. The Wheats will come, but don't get too used to the IH's. Happy sorting!

Mercuryman
06-24-2011, 09:24 AM
I found a 1902 Indian Head penny last week in a box. It was a Brinks box. That is pretty rare overall. The Wheats will come, but don't get too used to the IH's. Happy sorting!

Thanks! You too, last night i had a box give up over 20 Wheaties, had two rolls with 4 in one and 5 in another. Question for ya, i'm interested in a penny sorter. Not a ryedale but the vending machine one with the clamp. I've read these have about a 95% rate for sorting coins. Is that 95% included in possibly dumping zinc into my copper bin? or just copper back into the zinc bin? I would really hate to have zinc in the copper, especially if i was trying to sell it.

2ndAmendmentguy
06-24-2011, 10:28 AM
Thanks! You too, last night i had a box give up over 20 Wheaties, had two rolls with 4 in one and 5 in another. Question for ya, i'm interested in a penny sorter. Not a ryedale but the vending machine one with the clamp. I've read these have about a 95% rate for sorting coins. Is that 95% included in possibly dumping zinc into my copper bin? or just copper back into the zinc bin? I would really hate to have zinc in the copper, especially if i was trying to sell it.

It goes both ways. I get zincs in the coppers, but they are pretty easy to find when I go through the coppers to look for wheaties. Just look for the shine amidst all of the nice brown ones. 9 times out of 10 it is a zinc. I can tell the difference between a shiny copper coin and a shiny zinc coin now, so I can pick them out in just a few seconds. For the price, the comparitor is more than worth it's minimal price.

As for the coppers in the zinc pile, I tell my children that for every 10 that they find, I will give them a quarter. I still come out ahead, and it teaches them a work ethic. Win-win situation there.

Mercuryman
06-24-2011, 10:42 AM
It goes both ways. I get zincs in the coppers, but they are pretty easy to find when I go through the coppers to look for wheaties. Just look for the shine amidst all of the nice brown ones. 9 times out of 10 it is a zinc. I can tell the difference between a shiny copper coin and a shiny zinc coin now, so I can pick them out in just a few seconds. For the price, the comparitor is more than worth it's minimal price.

As for the coppers in the zinc pile, I tell my children that for every 10 that they find, I will give them a quarter. I still come out ahead, and it teaches them a work ethic. Win-win situation there.

Good point, if i sorted my coins using a comparitor i would be looking for the Wheaties. I need to get one of those, sorting $50 a day by hand is alot of work. Unfortunately i'm 19 so no kids :P. Just opened a bank account yesterday with a local branch that has coin counter's. Wonder how long it will be before they kick me out for filling the machine with 5000-10000 pennies each day.

SilverSurfer25
06-24-2011, 10:49 AM
Good point, if i sorted my coins using a comparitor i would be looking for the Wheaties. I need to get one of those, sorting $50 a day by hand is alot of work. Unfortunately i'm 19 so no kids :P. Just opened a bank account yesterday with a local branch that has coin counter's. Wonder how long it will be before they kick me out for filling the machine with 5000-10000 pennies each day.

If they kick a member out for making a "deposit" throw a rage fit--they just wont do it.

My bank has a note on the door "check in with receptionist for our safety if cashing large amounts of coins"---people bring in 5gal buckets that tellers cant lift by themselves,big blue water containers, bank bags...

Really though, i only cash $25-$30 at a time. Its 3 sandwich bags full. They will know your face real quick if you bring in $100 in pennies every visit.

Mercuryman
06-24-2011, 11:25 AM
If they kick a member out for making a "deposit" throw a rage fit--they just wont do it.

My bank has a note on the door "check in with receptionist for our safety if cashing large amounts of coins"---people bring in 5gal buckets that tellers cant lift by themselves,big blue water containers, bank bags...

Really though, i only cash $25-$30 at a time. Its 3 sandwich bags full. They will know your face real quick if you bring in $100 in pennies every visit.


There's 3 branche's within a few miles of me that have the coin machines. I figure i will split it up when i need to dump my pennies. Does anyone know what most banks do with these coins? Do they re-roll them and use them at the bank or are they picked up in bags and taken to another location? Also does anyone pick up at the bank they dump at? I dumped $50 yesterday and picked up a box of $25 from the same bank. Decided to go to another to get the other $25.

namwalker
06-24-2011, 01:07 PM
For those of you that have branches that have a coin counter and let you use them, I really envy you.

I'm have a hell of time trying to find sleeves to stack half dollars in. I'm really trying to find a branch that has a coin counter. For that convenience, I wouldn't mind transferring some money into them just for the service. Probably, like most of you, my bank just will not take unrolled coins unless it is below the value of a full roll.

The banks here want you order your coin needs at least a week prior to your need, especially for half dollar. Most of the time when my half dollar request comes in, it is not in boxes but plastic bags and the coins are not rolled.

End of venting.

By the way, I have been finding a lot of late mintage half dollars that have the "S" mint mark. My lcs is saying that there is nothing special about them, especially is they are clad. A few of them are silver with the rest being clad. Could the clad halves be NIFC, which we had a tread about them recently? I have been saving the clads because they are in such good shape. Anyone have any thoughts on that?

If I remember correctly, the mint stopped releasing halves for general circulation back in either 2000 or 2002. Does anyone remember when this occured?

Mercuryman
06-24-2011, 01:56 PM
For those of you that have branches that have a coin counter and let you use them, I really envy you.

I'm have a hell of time trying to find sleeves to stack half dollars in. I'm really trying to find a branch that has a coin counter. For that convenience, I wouldn't mind transferring some money into them just for the service. Probably, like most of you, my bank just will not take unrolled coins unless it is below the value of a full roll.

The banks here want you order your coin needs at least a week prior to your need, especially for half dollar. Most of the time when my half dollar request comes in, it is not in boxes but plastic bags and the coins are not rolled.

End of venting.

By the way, I have been finding a lot of late mintage half dollars that have the "S" mint mark. My lcs is saying that there is nothing special about them, especially is they are clad. A few of them are silver with the rest being clad. Could the clad halves be NIFC, which we had a tread about them recently? I have been saving the clads because they are in such good shape. Anyone have any thoughts on that?

If I remember correctly, the mint stopped releasing halves for general circulation back in either 2000 or 2002. Does anyone remember when this occured?

My branch can't even order me halfs unless i wanted like 1 grand worth, also a week for boxes of anything else. I dont think hoarding clad will be worth much in the future, i would just dump it for more rolls tbh. Ever find any silver in the plastic bag?

namwalker
06-24-2011, 04:52 PM
My branch can't even order me halfs unless i wanted like 1 grand worth, also a week for boxes of anything else. I dont think hoarding clad will be worth much in the future, i would just dump it for more rolls tbh. Ever find any silver in the plastic bag?

To be honest, after going through $1,000 of halves, the only interesting things that I have found is 4-40%, 5-S clad, and 2-S Silver (possibly 90%). The "S" coins I initially thought came out of someones mint sets. Now I think the "S" Silver is the only things that came out of a mint set. These coins were found in 2 $500 bags from Brinks. The bank that I was ordering the halves just went under new west coast ownership and they are telling me that for the next couple of month's they can't supply me. So I had to order $1,000 of them through another bank I deal with. There I had to wait two weeks because of a clerical mixup.

In my area, it appears that there are a lot of roll miners and I'm finding it harder to get unsearched rolls. The last couple of CWR netted well below my standard of 23% and revealed no wheat or early copper coins. Strange.

Today I got a couple of boxes one of CWR and the other sealed from Brinks. One is doubtful of much success and the other I think will be successful.

Mercuryman
06-25-2011, 05:57 PM
To be honest, after going through $1,000 of halves, the only interesting things that I have found is 4-40%, 5-S clad, and 2-S Silver (possibly 90%). The "S" coins I initially thought came out of someones mint sets. Now I think the "S" Silver is the only things that came out of a mint set. These coins were found in 2 $500 bags from Brinks. The bank that I was ordering the halves just went under new west coast ownership and they are telling me that for the next couple of month's they can't supply me. So I had to order $1,000 of them through another bank I deal with. There I had to wait two weeks because of a clerical mixup.

In my area, it appears that there are a lot of roll miners and I'm finding it harder to get unsearched rolls. The last couple of CWR netted well below my standard of 23% and revealed no wheat or early copper coins. Strange.

Today I got a couple of boxes one of CWR and the other sealed from Brinks. One is doubtful of much success and the other I think will be successful.

Just found a roll that was completely copper! The highest date was 1981, pretty impressive to think that it sat for that long. Today i went through $250 dollars in dimes, no luck. Gonna keep trying though

namwalker
06-25-2011, 06:32 PM
Just found a roll that was completely copper! The highest date was 1981, pretty impressive to think that it sat for that long. Today i went through $250 dollars in dimes, no luck. Gonna keep trying though

My bank informed me Friday, that the only penny rolls that I would be getting from them would be CWR. It seems that there are a lot fellow miners plaguing my bank. I went to another branch of the same bank and had no trouble getting sealed Brink penny boxes. I guess that we have to find other ways to skin the same cat.

When I first started they thought is was an odd pasttime, not that there are more miners out there were pests.

Maybe all miners in a given area show use the same bank to dump their culls. In other words form sort of a miners union.:p :D :p

I went through a $100 box of nickels and found nothing spectacular. In fact, out of the whole box in only found four nickels that were coined in either 2010 or 2010. That's really strange. I just rolled them up and am looking for something to store them in. The bank that got them from says that they don't store any coins in the Brinks boxes. They just throw them away. That seems truly bizarre.

This all goes to prove that different banks have different policies, even within the same Bank name.

On my way home Monday, I plan on stopping at another local bank and picking up maybe some dimes or quarters. Will make up my mind when I get there.

Copperhead
06-25-2011, 06:41 PM
If you are buying by the box weigh the box prior to sorting. The closer to seventeen pounds the better. light boxes are not worth opening.

SilverSurfer25
06-25-2011, 07:51 PM
If you are buying by the box weigh the box prior to sorting. The closer to seventeen pounds the better. light boxes are not worth opening.

Im pretty sure if someone resorts to buying pennies by the box then theyre going to open the box.

Whats he suppoused to do? Take it back and swap for FRN because "the box didnt weight 17lbs."?

Some people say penny searching isnt worth it. Now the box must weight 17lbs or its not worth it...people take this too serious.

namwalker
06-25-2011, 08:37 PM
I was on another forum elsewhere, and some person had posted a list of almost gigantic proportions about the coins that one was supposed to be on the lookout for when mining for copper. It was so large, that just to finish one box would have taken a few nights. I'm sorry to say that weighing the box was not among the items listed.

One of the posters to this forum, complained that if one should follow the list that all the enjoyment would have been taken out of a fun pasttime.

I was going to post the listing here just for grins but I couldn't do it without potentially ruining our fun. However, at first blush the concept of weighing a box does not appear without its merits. The brinks box and I could step on the scale together, then me alone, do a bit of mathematics, make a determination of worthiness and if it was a light loaf then be taken back to a different bank, get your money, and procede back to the first bank to start all over. We do it anyway with our culls, this would just speed up the process. *tongue is cheek).:p :p . A side benefit of this routine would be me probably going on a diet.:D

Seriously, if we could determine the weight of a box, what about the weight of suitable roll? Somewhere in these posting is the weight of a proper copper penny.

GoldSilverbvg
06-25-2011, 08:51 PM
I need to start mining for copper pennies. About 6 years ago, when I worked at a bank, I mined boxes of pennies almost daily, but I was only taking Wheat Pennies. I did get a very nice set of Wheat Pennies, however.

Working at a bank was a great job for me. I got to mine the bags that were attached to the coin counting machine, and since I was a bank employee I could use my paycheck to get as many boxes of pennies as I wanted and nobody cared - I was able to get around some fo the hassle associated with some banks simply because I was employed there. For example, where I bank now, I have to let them know in advance what I need.

Copperhead
06-25-2011, 09:44 PM
Im pretty sure if someone resorts to buying pennies by the box then theyre going to open the box.

Whats he suppoused to do? Take it back and swap for FRN because "the box didnt weight 17lbs."?

Some people say penny searching isnt worth it. Now the box must weight 17lbs or its not worth it...people take this too serious.
Not too serious. It is just that some do not want to waste their time. Yes, take the box back to the bank. That's what you do with zinc isn't it? BTW, 17 pounds is mostly copper 15 pounds mostly zinc.

Mercuryman
06-25-2011, 11:50 PM
Im pretty sure if someone resorts to buying pennies by the box then theyre going to open the box.

Whats he suppoused to do? Take it back and swap for FRN because "the box didnt weight 17lbs."?

Some people say penny searching isnt worth it. Now the box must weight 17lbs or its not worth it...people take this too serious.

I agree still too much hassle, i also dont have a scale to weigh a box.

Also does anyone know if i need a bank account to order boxes at most banks? I was getting $25 dollars in pennies one day and asked the teller about their box policy and she told me it was free to order them. But i do not have an account. This was bb&t

highroller4321
06-28-2011, 03:11 PM
Instead of sorting yourselves just have a reliable company do it for you. Google Portland Mint and you will find a reliable and reasonable priced company.

Copperhead
06-28-2011, 08:08 PM
I agree still too much hassle, i also dont have a scale to weigh a box.




Too much of hassle yet opening each and ever box, light or heavy, and sorting through them isn't? :confused: A scale can be bought for a few bucks.

Mercuryman
06-28-2011, 08:57 PM
Too much of hassle yet opening each and ever box, light or heavy, and sorting through them isn't? :confused: A scale can be bought for a few bucks.

I moved on to half dollars now, i feel the return is much better and less time consuming. While you have a valid idea, i just haven't had it pay off.

- I guess this could be used for halves to check for silver as well, but i can easily look through them much faster and they are hardly ever short.

Copperhead
06-28-2011, 09:10 PM
I moved on to half dollars now, i feel the return is much better and less time consuming. While you have a valid idea, i just haven't had it pay off.

- I guess this could be used for halves to check for silver as well, but i can easily look through them much faster and they are hardly ever short.

I agree, half dollars are a much more practical & profitable way to spend your time.

hortstu
06-28-2011, 09:55 PM
What does a 25$ box of all pre 82s weigh with wrappers and what does a box with none weigh? How about a 50/50 box?

SilverSurfer25
06-28-2011, 09:57 PM
I got turned down trying to buy a 25$ box.

They looked at me like im crazy even though their other branch has sold me 3...

Mercuryman
06-28-2011, 11:45 PM
I got turned down trying to buy a 25$ box.

They looked at me like im crazy even though their other branch has sold me 3...

Some people are really stupid, I cant wait to run $500 dollars in halves through my banks coin machine tomorrow. Maybe i should visit two branches.... These people are gonna hate me.

SilverSurfer25
06-29-2011, 12:04 AM
Some people are really stupid, I cant wait to run $500 dollars in halves through my banks coin machine tomorrow. Maybe i should visit two branches.... These people are gonna hate me.

I didnt think a box of pennies was a huge deal. They looked at me like i had a messed up face. Usually the other branch tellers have a poker face, and holding firm eye contact lets them know your serious. Apparently they run low on pennies half way thru the week, when the smaller branch serves me 2boxes a week just walking in...Mondays and fridays.

This is the same bank i have 2 safe deposit boxes and not selling me $25 in pennies made me 2nd guess that idea. The head teller actually dropped my box on the floor by accident because "she didnt know it weighed so much".

namwalker
06-29-2011, 12:18 PM
I didnt think a box of pennies was a huge deal. They looked at me like i had a messed up face. Usually the other branch tellers have a poker face, and holding firm eye contact lets them know your serious. Apparently they run low on pennies half way thru the week, when the smaller branch serves me 2boxes a week just walking in...Mondays and fridays.

This is the same bank i have 2 safe deposit boxes and not selling me $25 in pennies made me 2nd guess that idea. The head teller actually dropped my box on the floor by accident because "she didnt know it weighed so much".

The head teller either had to me new or stupid. She usually is the one who takes care of special orders and should be the most knowledgeable of coins at the facility that you are dealing with. Your request should not have been the first that she handled.

Branches usually do run low on coins, at least that has been my experience. The banks that I deal with usually get their coin needs in towards the end of the week either Thursday or Friday. So they tell me. Why not ask them when they expect to have another shipment come in. Such a question would not be out of line, especially if you have a history of buying boxed coins.

If you do a lot of business with the bank on a face to face basis they should get to know you and know that you are serious. In my experience friendly conversation and small talk goes a long way to build a working relationship.
That way they know you are not looking to cause problems or casing the joint for a hiest.

Good luck to you. I'm off to pick up some boxes of halves. Hope that I have some luck with these. This is my third attempt to find interesting stuff. My wife thinks I'm crazy but thinks is a harmless past time. I hoping just for good luck.

namwalker
06-29-2011, 02:48 PM
Was mining last night and found among the pennies found a copper coin from Ireland had "Eire" on one side and the reverse had the number 2 and the word Euro.

Anyone know if this coin is worth at least a penny? In my mind I'm convinced that coin has no speakable melt value and is probably good for only a passable sinker on a fishing line given their troubles..

Mercuryman
06-29-2011, 04:35 PM
Well went through $1500 dollars in halves today, the first $500 was a bag that yielded 2 40%s. the other 1k were bank rolled from bank of America. I found none out of the 1k. Does anyone know if their provider sorts their change? What large banks do you all order from?

namwalker
06-29-2011, 06:52 PM
In both my experience and from what I've gleaned from conversations from bank personnel, all coins come from either their own treasury operations or if needed from a service like Brinks or another armored service. If it comes from their own treasury operation it is a moderate probability of coin mining because a lot of this species comes from their customers who may or may not look at their coins prior to depositing. If the coins come from an armored service the probability is higher that coins are searched. I believe that I read that in a thread in these forums.

I was in a bank the other day on business (where I don't bank) and when I was finished I asked the teller if she had any halves. She reached in her drawer and gave me $4 in halves. When I got to my car I saw that she handed me 6 40%ers. I never had any luck like that before. I purchased a lottery ticket when I got gas. We'll see if my luck holds out. Itis supposed to rain in my area and I'm not going out though to see if I get hit by lightning.

I really think that finding such items are possible, but the people that have the best probability of success are the tellers. I think my teller just didn't look before she gave me these coins, otherwise they would have been in her purse.

I'm still looking for silver, and copper pennies. My bank warned me that the number of people looking for copper is increasing.