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- - Copper Pennies and Wealth (http://goldismoney.info/forums/showthread.php?t=34727)

cb&julie | 04-24-2006 12:44 AM
Copper Pennies and Wealth There's been a lot of discussion about NOT getting wealthy from copper pennies. However, could it be possible? Let's assume that copper doubles from current value, equivalent to 4 cent per penny. How many pounds would you need for 1 million dollars FRN? Further, how much space would such a huge amount of pennies take up?

cb&julie | 04-24-2006 12:47 AM
Re: Copper Pennies and Wealth Quote:
Originally Posted by cb&julie There's been a lot of discussion about NOT getting wealthy from copper pennies. However, could it be possible? Let's assume that copper doubles from current value, equivalent to 4 cent per penny. How many pounds would you need for 1 million dollars FRN? Further, how much space would such a huge amount of pennies take up?
At the rates I give you'd need 25 million pennies or 166,666.7 pounds worth. How much space would that take up?

IM_O.K. | 04-24-2006 12:50 AM
Re: Copper Pennies and Wealth Thats 83 1/3 tons. I am not sure how much space it would take but I could find room for part of it.

Ardent Listener | 04-24-2006 01:15 AM
Re: Copper Pennies and Wealth How dose one get ahold of 25 million pennies?:albertein

cb&julie | 04-24-2006 01:18 AM
Re: Copper Pennies and Wealth Quote:
Originally Posted by Ardent Listener How dose one get ahold of 25 million pennies?:albertein
Run to your local bank and begin sorting today!

Ardent Listener | 04-24-2006 01:21 AM
Re: Copper Pennies and Wealth :ciao: :ciao: :ciao: :ciao: :ciao: :ciao:

IM_O.K. | 04-24-2006 01:30 AM
Re: Copper Pennies and Wealth Stacked one on top of the other 25,000,000 would make a stack 24 miles high.

MoonChakka | 04-24-2006 07:42 AM
Re: Copper Pennies and Wealth Quote:
Originally Posted by Ardent Listener How dose one get ahold of 25 million pennies?:albertein
You could try those little, 'Give a penny-Take a penny' trays at the gas stations. :rofl: Seriously, I don't think it would be too hard to get hold of that many pennies if you have the cash and the storage room...you would need to talk to a few bank managers and have them do special orders from the armored car companies that roll and deliver coins to them. You'd probably want to break it up between a few banks and a bunch of smaller orders, but I don't think it would be very difficult. The problem would be sorting the zinc from the copper. At anywhere near those numbers you would definately need someone to invent a sorting machine.

<SLV> | 04-24-2006 09:27 AM
Re: Copper Pennies and Wealth Quote:
Originally Posted by IM_O.K. Stacked one on top of the other 25,000,000 would make a stack 24 miles high.
Actually, the weight of the pennys would start to flatten out the bottom of the stack. So every penny added would decrease the potential height.

FiftySense | 04-24-2006 10:29 AM
Re: Copper Pennies and Wealth The best way to find the pre 82's is to go to your bank and request a $25.00 box and sort through them. Make sure your bank has a coin sorter first or you will spend alot of time rolling them back up. Avoid the Coinstar machines. Unless you like being ripped off.

TomD | 04-24-2006 12:01 PM
Re: Copper Pennies and Wealth Copper has a specific gravity of 8.96, that means that it would take right around 300 cubic feet of pennies to weigh 166,666.7 pounds, depending on how much air space there is in a pile of pennies. That would cover the floor in a 15' x 20' room to a depth of a foot. Better make sure that the floor of the room is a concrete slab though.

pb_2_au | 04-25-2006 04:27 PM
Re: Copper Pennies and Wealth I'm sure many currencies have devalued to the point where their face value is no longer worth its metal... so anyone have evidence of wealth generation this way (not counting coins made of 'true' PMs)?? I want to hear about the Argentinian or Mexican or wherever else who has made this work before! Thanks

HVACTEC | 04-25-2006 04:38 PM
Re: Copper Pennies and Wealth so next month when i send out my mortgage payments for my properties i may have to cash in my shrinking dollars for bags of pennies and bags of nickels, to pay my bills and eat. was just thinking if copper goes to a 150 a pound i can buy a 5 dollar loaf of bread for 5 pre 1982 licoln cents cents

cb&julie | 04-25-2006 04:40 PM
Re: Copper Pennies and Wealth Quote:
Originally Posted by HVACTEC so next month when i send out my mortgage payments for my properties i may have to cash in my shrinking dollars for bags of pennies and bags of nickels, to pay my bills and eat. was just thinking if copper goes to a 150 a pound i can buy a 5 dollar loaf of bread for 5 pre 1982 licoln cents cents
Assuming there are any left around- If this board is any indication the hoarding has been going on for some time now.

californiajeff | 04-26-2006 01:01 PM
Re: Copper Pennies and Wealth So the real question is who are you going to sell these too? We have to figure out our exit strategy before we start filling up rooms with these things. :smile:

HVACTEC | 04-26-2006 01:29 PM
Re: Copper Pennies and Wealth well first you have to have them melted it down into bars at the smelter. maybe sell em to the smelter once changed or bring em to the scrap yard in your area. we have tons of em here in nj also, just across the river in n.y. city all you do is load it up on your truck once changed to bars, drive in the scrap yard they weigh you going in then they weigh you going out thats how they get total weight that was on your truck. also they will unload it for you. I collected tons of scrap back in the 1970s used to pick iron on the weekends along the hudson river edgewater, north bergen, and jersey city all along old railroad yards and old barges pic one to two tons of iron when it was think 80 dollars a ton drive it to the junk man they weigh me in and out take it off with big magnet. also picked led bullets from shooting ranges and copper, brass from old biuldings along hudson. plus i worked contruction monday through friday in laborers union local 28 in fairview nj. have so many trades under my belt since then. been self employed for past 20 years now

The Voice Of Reason | 04-26-2006 08:01 PM
Re: Copper Pennies and Wealth Quote:
Originally Posted by californiajeff So the real question is who are you going to sell these too? We have to figure out our exit strategy before we start filling up rooms with these things. :smile:
If one is looking for a quick profit then perhaps one could sell them back to the banks at a premium. This has already happened during coin shortages.

Ponce Cuba | 04-26-2006 08:08 PM
Re: Copper Pennies and Wealth Julie? I have a feeling that a penny will be more than a penny in the future, can't tell you exactly how but I always go by my feeling about things and do something about it. Besides a penny has a lot more uses than a dollar bill or even a one hundred dollar bill, not talking about value but of uses.

The Voice Of Reason | 04-26-2006 08:10 PM
Re: Copper Pennies and Wealth Or for those who believe sh!t is going to hit the fan, won't pennies be used to buy goods and services just like silver coins?

Ponce Cuba | 04-26-2006 08:14 PM
Re: Copper Pennies and Wealth You got it Voice, I feel that it will take the place of the dollar bill.

The Voice Of Reason | 04-26-2006 08:18 PM
Re: Copper Pennies and Wealth Quote:
Originally Posted by Ponce Cuba You got it Voice, I feel that it will take the place of the dollar bill.
If so, to he!! with scrap prices:wink: .

tomexxtra | 04-26-2006 08:22 PM
Re: Copper Pennies and Wealth http://www.kokogiak.com/megapenny/three.asp Penny dates 1959 to 1981 1000 = $10 = 100 ounces = 6.25 pounds purity .95 percent 6.25 times .95= 5.94 pure copper copper today is $3.48 per pound. 5.94 x 3.48= $20.67 $100 worth of pennies =10000 pennies = $200.67 of copper The Wheat pennies 1909 to 1958 are worth 3 to 4 times face $10.00= 1000 x 3.5= $35.00 Any Questions

IM_O.K. | 04-26-2006 08:27 PM
Re: Copper Pennies and Wealth Got 10 rolls today at bank. Sorted out 4 rolls of pre 82s and 5 wheats.

TomD | 04-26-2006 09:04 PM
Re: Copper Pennies and Wealth You guys are missing it, the Pandas on ebay are 28 grams of pure copper, way more valuable that any stinking 3 gram US copper penny. You have to recognize value when you see it. :grin:

bjgnome | 04-26-2006 09:07 PM
Re: Copper Pennies and Wealth Quote:
Originally Posted by tomexxtra Any Questions
Found an odd penny today. 1976. Right in front of Lincoln's nose, there is what looks like an outline of the state of Alaska, with the letters "AK" in the center of the state. Anybody seen or heard about something like this? :wazzup_sg

tomexxtra | 04-26-2006 09:32 PM
Re: Copper Pennies and Wealth Bnome, Littleton used to make or sell them,one from each state. They used to charge .50 cents apiece, but real value is just the penny.

bjgnome | 04-26-2006 10:15 PM
Re: Copper Pennies and Wealth Cool, thanks alot. I wonder if this penny was magnetically drawn to my littleton eagles?

Ardent Listener | 04-27-2006 07:40 AM
Re: Copper Pennies and Wealth Quote:
Originally Posted by Sporlan Picked up 4 more Brinks boxes today, already found a dime mixed in by accident. Looks like about 32 percent copper, will run them in the sorter on Friday, wrap up the zinc and return them next week. From each 10000 coins I get about 30 percent copper coins, return the zinc, shelf the copper and its already worth $60 total (at .02 cents each intrinsic value). Love it! Only hobbie I have ever had with such potential. Cant wait till copper is traded by the gram. :haha: (love silver too of course).
Cool Sporlan.:coolbeer: By the way, someone asked on another thread about buying pennies or nickels at the bank without calling attention to yourself.? In my opinion, just go for the Brinks boxes. That is the way most business buy them. And after all, we are in the metals business.:D Feel free to PM me anytime.

cb&julie | 04-27-2006 01:06 PM
Re: Copper Pennies and Wealth Quote:
Originally Posted by Ardent Listener Cool Sporlan.:coolbeer: By the way, someone asked on another thread about buying pennies or nickels at the bank without calling attention to yourself.? In my opinion, just go for the Brinks boxes. That is the way most business buy them. And after all, we are in the metals business.:D Feel free to PM me anytime.
Use multiple banks- and dress shabby- it makes it look like you don't have much money. Copper and Nickel down today...:frown:

Mined Games | 04-30-2006 12:10 PM
Re: Copper Pennies and Wealth When calculating whether or not it is worthwhile to hoard one's copper pennies, doubling the eventual price doesn't cut it. Once the dollar goes into freefall, I think a 10X increase in the price is reasonable.

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Gold & Silver Forum - Copper Pennies and Wealth

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- Gold - Silver - Coins - Numismatics (http://goldismoney.info/forums/forumdisplay.php?f=51)
- - Copper Pennies and Wealth (http://goldismoney.info/forums/showthread.php?t=34727)

Tn...Andy | 04-30-2006 10:03 PM
Re: Copper Pennies and Wealth Here's a pile I separated out from our loose change jar last year.....not a scientific sample or anything....just change we throw in the jar. Just less than 22% are pre-82: ( Pre-82 are on the right in both pics ) http://www.digistash.com/data/026a39...8_p108755.jpeg and here is a the results from this jar so far this year ( less change in the jar...last year was probably two years worth of 'collection' ) Still right about 22% pre-82 content.....so maybe they aren't disappearing just yet...but I can tell ya THOSE pre-82s aren't going back into circulation after I took that much time to separate 'em......ahahahahahaaaa http://www.digistash.com/data/026a39...8_p108756.jpeg

Ardent Listener | 04-30-2006 10:10 PM
Re: Copper Pennies and Wealth Once a lot of people start to make trips to the banks for pennies, the banks will quickly become the worse places to find pre-82s. Why? Because after people sort their pennies they will return the zinc ones back to the banks.

Ponce Cuba | 05-01-2006 12:00 AM
Re: Copper Pennies and Wealth Andy? I'll give you 15% to separate mine, be ready to be here for a month or two and bring some spare fingers hahahahahahahahahaha.

Tn...Andy | 05-01-2006 04:45 AM
Re: Copper Pennies and Wealth Thanks Ponce....you're a prince among men....ahahahaha....but I'm already about bug eyed nuts from doing that little bit.....I have to take a mini-maglite and shine on the dates so I can see them well enough to separate. Getting old is hell.

MT Silver | 05-01-2006 06:09 AM
Re: Copper Pennies and Wealth TN Andy, You have May 30th, 2006 written on your second photo. :cheerful: Getting a jump start on the rest of us?:rofl: Of course, you've probably been a least a step or two ahead of the crowd. :thumbs up Question though for anyone. Aren't pennies made from a lower grade copper, like a dirty type of copper or something. Someone mentioned this awhile back. Would that affect things? MT Silver </IMG></IMG></IMG>

Tn...Andy | 05-01-2006 06:29 AM
Re: Copper Pennies and Wealth ahahaaaaaaa.......well, at least I knew it was the 30th of some dang month....ahahahahaa..... Actually, that was an observation test, and you passed. Go directly to GO and collect 200 hundred dollars.

silverJeep | 05-01-2006 07:04 AM
Re: Copper Pennies and Wealth You guys are missing the advantages of having children. I started sorting some pennies in front of my 8 year old and he asked what I was doing. After telling him, he wanted to help. After explaining the importance (ha ha) of what I was doing, he now feels it is a VERY important job, and takes it very seriously. Now I just hand him a roll and go do something else. I admit I do sort some when my wife is watching Law and Order ...I hate that show.

Ardent Listener | 05-01-2006 07:56 AM
Re: Copper Pennies and Wealth Quote:
Originally Posted by silverJeep You guys are missing the advantages of having children. I started sorting some pennies in front of my 8 year old and he asked what I was doing. After telling him, he wanted to help. After explaining the importance (ha ha) of what I was doing, he now feels it is a VERY important job, and takes it very seriously. Now I just hand him a roll and go do something else. I admit I do sort some when my wife is watching Law and Order ...I hate that show.
A family that sorts together stays together.:thumbs up

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