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Author Topic: Two Hundred Billion Pennies  (Read 3033 times)
dirtycat
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October 19, 2012, 07:12:28 AM
 #21

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

poop!
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SgtSpike
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October 19, 2012, 03:30:57 PM
 #22

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!
dirtycat
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October 19, 2012, 04:49:14 PM
 #23

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!

whoa calm down just saying if you take a bucket full of pennies to anyone other than a coin collector they are gonna give you exactly how many pennies worth are in that bucket.. not a penny more  Tongue

bitcoins are selling for far more than what they are worth on ebay too.. ebay sucks.. not a very good tool to measure value.

poop!
SgtSpike
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October 19, 2012, 04:54:56 PM
 #24

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!

whoa calm down just saying if you take a bucket full of pennies to anyone other than a coin collector they are gonna give you exactly how many pennies worth are in that bucket.. not a penny more  Tongue

bitcoins are selling for far more than what they are worth on ebay too.. ebay sucks.. not a very good tool to measure value.
That's not what you were saying.  You were saying that the copper pennies were only worth a penny, when they are clearly worth more than that.

Regardless, if you are changing your stance now to just stating that they are not very liquid, then I agree with you.  Coins that are worth more than their face value generally aren't.
dirtycat
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October 19, 2012, 05:00:48 PM
 #25

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!

whoa calm down just saying if you take a bucket full of pennies to anyone other than a coin collector they are gonna give you exactly how many pennies worth are in that bucket.. not a penny more  Tongue

bitcoins are selling for far more than what they are worth on ebay too.. ebay sucks.. not a very good tool to measure value.
That's not what you were saying.  You were saying that the copper pennies were only worth a penny, when they are clearly worth more than that.

Regardless, if you are changing your stance now to just stating that they are not very liquid, then I agree with you.  Coins that are worth more than their face value generally aren't.

copper pennies are worth only a penny.  take it to the local corner store and see how many you need to purchase a soda they are not going to give you a discount cause they are copper. nobody changed their stance on anything.

poop!
SgtSpike
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October 19, 2012, 05:03:53 PM
 #26

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!

whoa calm down just saying if you take a bucket full of pennies to anyone other than a coin collector they are gonna give you exactly how many pennies worth are in that bucket.. not a penny more  Tongue

bitcoins are selling for far more than what they are worth on ebay too.. ebay sucks.. not a very good tool to measure value.
That's not what you were saying.  You were saying that the copper pennies were only worth a penny, when they are clearly worth more than that.

Regardless, if you are changing your stance now to just stating that they are not very liquid, then I agree with you.  Coins that are worth more than their face value generally aren't.

copper pennies are worth only a penny.  take it to the local corner store and see how many you need to purchase a soda they are not going to give you a discount cause they are copper. nobody changed their stance on anything.
And a gold $20 coin is only worth $20?
A pre-1965 quarter is only worth $0.25?

Do you even understand what value or worth means?
dirtycat
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October 19, 2012, 05:05:14 PM
 #27

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!

and taking a look at this great tool called ebay it seems as though they are selling them for what they are worth at copper per pound prices. now if you get into the exotic uncirculated mint condition copper penny then ya its a collect and worth more obviously.  perhaps we got our communication wrong here I am talking about your basic "I found it on the road" penny.  not your "its a family heirloom" penny.
 

poop!
dirtycat
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October 19, 2012, 05:07:53 PM
 #28

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.
Good point!  I suppose many people probably feel like they'll be worth more in the future, but if that's the case, why not buy copper directly?

I estimate (roughly) that a dozen 5-gallon buckets means about a $5000 profit (about $.015 per penny). I seems like a lot of money, but what about the amount of time spent buying and sorting all those coins. I'm guessing it isn't a very high-paying job.

true.. having to collect all the coins sort em out.. if you decide to melt em you need propane or some type of fuel.. some cement to make a foundry furnace (or buy one  Tongue).  A lot of work for what its worth.  To sell copper over here you need to show your ID and give a fingerprint but that rarely happens from what I am told.. and I think it only applies to copper wire and pipe not ingots.  Then good luck finding a place that will give you a good price per pound. I have met a lot of people talking about doing this but have yet to hear one of them attempting it.
Why would you melt them?  Just leave them in coin form and sell them that way, same as everyone does with silver and gold coins.

currently a copper penny is worth.. a penny.
145 pennies is roughly a pound (could be wrong just googled it)
thats $1.45

1lb of copper on kitco says 3.70.

the copper its made from is worth more than the penny.

as far as I know most scrap yards are not going to accept a bucket full of pennies but who knows.

if your talking about the collector aspect to it then ya keep em.

who knows copper pennies could be the next rare american eagle coin (highly doubtful with the amount of copper pennies in circulation)

Eh?

People know the copper is worth more than the penny.  You don't have to smelt it down for them to see that value.  Take a look at eBay - people are buying copper pennies for far more than they are worth, according to you!

whoa calm down just saying if you take a bucket full of pennies to anyone other than a coin collector they are gonna give you exactly how many pennies worth are in that bucket.. not a penny more  Tongue

bitcoins are selling for far more than what they are worth on ebay too.. ebay sucks.. not a very good tool to measure value.
That's not what you were saying.  You were saying that the copper pennies were only worth a penny, when they are clearly worth more than that.

Regardless, if you are changing your stance now to just stating that they are not very liquid, then I agree with you.  Coins that are worth more than their face value generally aren't.

copper pennies are worth only a penny.  take it to the local corner store and see how many you need to purchase a soda they are not going to give you a discount cause they are copper. nobody changed their stance on anything.
And a gold $20 coin is only worth $20?
A pre-1965 quarter is only worth $0.25?

Do you even understand what value or worth means?

nope a 20 dollar gold coin is worth its weight in gold.. duh.. we are not talking about gold we are talking about copper

I see what you are trying to do.. I am not a fool but your doing your hardest to make me so.. keep trying  Grin

poop!
SgtSpike
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October 19, 2012, 05:10:11 PM
 #29

and taking a look at this great tool called ebay it seems as though they are selling them for what they are worth at copper per pound prices. now if you get into the exotic uncirculated mint condition copper penny then ya its a collect and worth more obviously.  perhaps we got our communication wrong here I am talking about your basic "I found it on the road" penny.  not your "its a family heirloom" penny.
 
Exactly.  They are selling for what they are worth at copper per pound prices.  Which is MORE than $0.01, and generally around $0.02 or $0.025.

So, the copper pennies are WORTH $0.02.

What do you not understand about this?

And a gold $20 coin is only worth $20?
A pre-1965 quarter is only worth $0.25?

Do you even understand what value or worth means?

nope a 20 dollar gold coin is worth its weight in gold.. duh..

I see what you are trying to do.. I am not a fool but your doing your hardest to make me so.. keep trying  Grin
Exactly!  Likewise, a copper penny is worth its weight in copper.  It is worth more than just $0.01.
dirtycat
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October 19, 2012, 05:12:15 PM
 #30

and taking a look at this great tool called ebay it seems as though they are selling them for what they are worth at copper per pound prices. now if you get into the exotic uncirculated mint condition copper penny then ya its a collect and worth more obviously.  perhaps we got our communication wrong here I am talking about your basic "I found it on the road" penny.  not your "its a family heirloom" penny.
 
Exactly.  They are selling for what they are worth at copper per pound prices.  Which is MORE than $0.01, and generally around $0.02 or $0.025.

So, the copper pennies are WORTH $0.02.

What do you not understand about this?

And a gold $20 coin is only worth $20?
A pre-1965 quarter is only worth $0.25?

Do you even understand what value or worth means?

nope a 20 dollar gold coin is worth its weight in gold.. duh..

I see what you are trying to do.. I am not a fool but your doing your hardest to make me so.. keep trying  Grin
Exactly!  Likewise, a copper penny is worth its weight in copper.  It is worth more than just $0.01.

perhaps you should re-read my posts I stated:

Quote
the copper its made from is worth more than the penny.

poop!
SgtSpike
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October 19, 2012, 05:14:18 PM
 #31

and taking a look at this great tool called ebay it seems as though they are selling them for what they are worth at copper per pound prices. now if you get into the exotic uncirculated mint condition copper penny then ya its a collect and worth more obviously.  perhaps we got our communication wrong here I am talking about your basic "I found it on the road" penny.  not your "its a family heirloom" penny.
 
Exactly.  They are selling for what they are worth at copper per pound prices.  Which is MORE than $0.01, and generally around $0.02 or $0.025.

So, the copper pennies are WORTH $0.02.

What do you not understand about this?

And a gold $20 coin is only worth $20?
A pre-1965 quarter is only worth $0.25?

Do you even understand what value or worth means?

nope a 20 dollar gold coin is worth its weight in gold.. duh..

I see what you are trying to do.. I am not a fool but your doing your hardest to make me so.. keep trying  Grin
Exactly!  Likewise, a copper penny is worth its weight in copper.  It is worth more than just $0.01.

perhaps you should re-read my posts I stated:

Quote
the copper its made from is worth more than the penny.
You also stated:

Quote
currently a copper penny is worth.. a penny.

Anyway, I am glad we are on the same page now.
dirtycat
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October 19, 2012, 05:19:57 PM
 #32

and taking a look at this great tool called ebay it seems as though they are selling them for what they are worth at copper per pound prices. now if you get into the exotic uncirculated mint condition copper penny then ya its a collect and worth more obviously.  perhaps we got our communication wrong here I am talking about your basic "I found it on the road" penny.  not your "its a family heirloom" penny.
 
Exactly.  They are selling for what they are worth at copper per pound prices.  Which is MORE than $0.01, and generally around $0.02 or $0.025.

So, the copper pennies are WORTH $0.02.

What do you not understand about this?

And a gold $20 coin is only worth $20?
A pre-1965 quarter is only worth $0.25?

Do you even understand what value or worth means?

nope a 20 dollar gold coin is worth its weight in gold.. duh..

I see what you are trying to do.. I am not a fool but your doing your hardest to make me so.. keep trying  Grin
Exactly!  Likewise, a copper penny is worth its weight in copper.  It is worth more than just $0.01.

perhaps you should re-read my posts I stated:

Quote
the copper its made from is worth more than the penny.
You also stated:

Quote
currently a copper penny is worth.. a penny.

Anyway, I am glad we are on the same page now.

my apologies I should have been more detailed

poop!
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