Gold & Silver Forum (http://goldismoney.info/forums/index.php)
- Survival Prep (http://goldismoney.info/forums/forumdisplay.php?f=141)
- - Hoarding Copper pennies for SHTF? (http://goldismoney.info/forums/showthread.php?t=449703)

steyr_m | 02-19-2010 05:02 PM
Hoarding Copper pennies for SHTF? I hope this isn't a re-post of a topic brought up before� I'm sure 99% of the people on this forum know how important gold and silver will be during SHTF, but what about pure-copper pennies? Gold for the big purchases, silver for small, copper for micro purchases? Here in Canada, copper pennies were made until '96 and they are still very plentifull. I'm think if sorting/collecting $50 in copper pennies. Anyone see a market/need for them?

Nomen luni | 02-19-2010 05:32 PM
Re: Hoarding Copper pennies for SHTF? I don't think they'd be any use if S really HTF, but in the interim, they may hold more value than fiat. I personally wouldn't invest a lot in it.

gunDriller | 02-19-2010 06:20 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by steyr_m (Post 2188824) I hope this isn't a re-post of a topic brought up before� I'm sure 99% of the people on this forum know how important gold and silver will be during SHTF, but what about pure-copper pennies? Gold for the big purchases, silver for small, copper for micro purchases? Here in Canada, copper pennies were made until '96 and they are still very plentifull. I'm think if sorting/collecting $50 in copper pennies. Anyone see a market/need for them?
yes - if you have a copper foundry or have a customer for the sorted pennies. when the economy collapses more, i can't see the harried masses reaching out for - pennies. partially because in order to profit from them, you need economies of scale - e.g. a metric ton of copper = $8000. if you're just lost your home and are living in your car, the space where you might store your pennies is needed for storing food or something. if you still have your home and are asking serious questions about the intrinsic value of various items (cigs, sugar, PM's, bullets, etc.), "i'm gonna sort pennies" just doesn't seem like a popular response. not saying it's not a good thing to do - i like copper. also, there has to be a market in it, the way you can buy & sell 90% silver. i know people are already buying & selling silver, but it's not a large or prominent market. the 2 best coin dealers in my town don't yet "do" copper pennies (other than numismatics.)

RJB | 02-19-2010 06:56 PM
Re: Hoarding Copper pennies for SHTF? To the average person they'd be the same as zinc pennies. For me it's more for investment, giving to future grandkids and possible numi value if the melt most of the coppers, but in total SHTF copper will be an after thought.

Texasrunner43 | 02-19-2010 07:22 PM
Re: Hoarding Copper pennies for SHTF? I don't search mine by date, but I do keep all my wheaties. I have around 9,000 of them in a 5 gallon water jug. It's about 1/3 full so it should hold 25-30k. I didn't find them all in my change, I would buy a bag of a couple thousand at the coin shop. I have got 3-4 at one time in change then I ask the clerk to check for more. Got 6-7 rolls once that way.

steyr_m | 02-19-2010 07:47 PM
Re: Hoarding Copper pennies for SHTF? OK, thanks guys.... I was thinking; in the end, so what, I still would have $50 in pennies.

TheNocturnalEgyptian | 02-19-2010 08:36 PM
Re: Hoarding Copper pennies for SHTF? You can use the metal for other stuff. I believe there was a post about melting down the alloy and using it for other purposes, like repairs.

Big Country | 02-19-2010 08:44 PM
Re: Hoarding Copper pennies for SHTF? http://goldismoney.info/forums/forumdisplay.php?f=163 Go to this sub-forum. There are a few of us that sort them, including myself. You will find my thread on that sub-forum as well as a few others. I usually do a box $25/mo. and I had sort with a small scale. I look at the reverse and further separate the wheat pennies. I think in my last bank box ($25) I got 9 wheaties.

ToBeSelfEvident | 02-19-2010 08:51 PM
Re: Hoarding Copper pennies for SHTF? It's possible that pennies will become dollars if the dollar is devalued.

TheNocturnalEgyptian | 02-19-2010 08:57 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by ToBeSelfEvident (Post 2189274) It's possible that pennies will become dollars if the dollar is devalued.
Well, the penny in 1795 is about our dollar today, so yes :10_1_19:

nickelless | 02-20-2010 12:36 AM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Nomen luni (Post 2188885) I don't think they'd be any use if S really HTF, but in the interim, they may hold more value than fiat. I personally wouldn't invest a lot in it.
If TSHTF, copper pennies will be worth WAY MORE than fiat. Nobody's going to want useless paper. You guys need to check out the Realcent forum, realcent.forumco.com, where one of our members is named HoardCopperByTheTon. I'm also one of the moderators there, so I kinda like the site.:biggrin:

Publico, Pro Se | 02-20-2010 04:57 PM
Re: Hoarding Copper pennies for SHTF? I sort pennies that I get in change. The zincers eventually go back to the bank. Copper go in a jar along with nickels.

Agfinger | 02-20-2010 06:56 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by TheNocturnalEgyptian (Post 2189282) Well, the penny in 1795 is about our dollar today, so yes :10_1_19:
Trouble is that the folks from 1795 that saved those pennies are now 200+ years away from being able to enjoy them... There are no u-hauls behind the hearse....

steyr_m | 02-20-2010 10:50 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by ToBeSelfEvident (Post 2189274) It's possible that pennies will become dollars if the dollar is devalued.
Well, that's what I was kind of thinking. Fiat paper, zinc, and the "Johnson Slugs" (and canadian equivalent) will be worthless. I was thinking that there was a role for silver and gold, so why not pure copper? As I mentioned in my previous post, I'm not going to devote significant time to this project; but if TSHTF and it doesn't pan out, I can still trade it for paper.

Big Country | 02-20-2010 11:51 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by steyr_m (Post 2191032) Well, that's what I was kind of thinking. Fiat paper, zinc, and the "Johnson Slugs" (and canadian equivalent) will be worthless. I was thinking that there was a role for silver and gold, so why not pure copper? As I mentioned in my previous post, I'm not going to devote significant time to this project; but if TSHTF and it doesn't pan out, I can still trade it for paper.
Well pre-82 isn't pure copper, its 95% copper and 5% zinc http://www.coinflation.com/coins/190...nny-Value.html

icq182 | 02-21-2010 12:51 AM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by steyr_m (Post 2191032) Well, that's what I was kind of thinking. Fiat paper, zinc, and the "Johnson Slugs" (and canadian equivalent) will be worthless. I was thinking that there was a role for silver and gold, so why not pure copper? As I mentioned in my previous post, I'm not going to devote significant time to this project; but if TSHTF and it doesn't pan out, I can still trade it for paper.
The zinc cent coin already has 61.78% metal value ( there is six tenths of a cent worth of zinc in the zinc cent coin ) http://www.coinflation.com/ Zinc pennies will never be worthless. I think by 2011 we will need to change the nickel composition, they already have more worth of copper in them than their face value. The price of copper is ridiculously low too-- it could easily shoot up -- it's not like you can go buy copper anywhere near copper spot price... After we change the nickel to steel or plastic or something, the zinc cent won't be far behind. Zinc is way too precious to have in money. We should really jsut get rid of all coins... and maybe all paper money too... just put and RFID in each of our arms... that will be better than carrying around these grimey steel coins !

Ishkabibble | 02-21-2010 01:13 AM
Re: Hoarding Copper pennies for SHTF? Looking for something to do with your copper hoard? How 'bout breaking a Guinness Record? <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/7zrZ9VXTBNM&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/7zrZ9VXTBNM&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

steyr_m | 02-21-2010 01:23 AM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Big Country (Post 2191110) Well pre-82 isn't pure copper, its 95% copper and 5% zinc http://www.coinflation.com/coins/190...nny-Value.html
Living in Canada, I'm looking at pre-96 pennies which aren't pure... but 98% copper. I meant "pure" in the sense that they weren't made of mostly zinc or steel. http://en.wikipedia.org/wiki/Penny_(Canadian_coin)

steyr_m | 02-21-2010 01:28 AM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Ishkabibble (Post 2191230) Looking for something to do with your copper hoard? How 'bout breaking a Guinness Record? <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/7zrZ9VXTBNM&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/7zrZ9VXTBNM&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
As my original post said, I just want to survive the coming Apocalypse by having gold, silver, and maybe copper (plus guns, ammo, and food) . I'm not looking to break records.

Unclad Lad | 02-21-2010 04:08 AM
Re: Hoarding Copper pennies for SHTF? I don't know about SHTF, but I'm separating and saving.

Neuro Artist | 02-21-2010 06:23 AM
Re: Hoarding Copper pennies for SHTF? It would be a cheap insurance to have a few hundred/thousand in case they would be used in a SHTF scenario, certainly if you can buy something for 10 copper cents instead of a pre-64 dime it is better to have acquired the 10 copper cents now...

Ishkabibble | 02-21-2010 12:25 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by steyr_m (Post 2191251) As my original post said, I just want to survive the coming Apocalypse by having gold, silver, and maybe copper (plus guns, ammo, and food) . I'm not looking to break records.
Clearly you see this pile differently than I do. You are looking at a pile of pennies with a combined face value of $4,200. Made of copper pennies, it has a market value today of more than $8,000. My point in going for a Guinness record has nothing to do with recognition and everything to do with volume. $50 in pennies is $100 in copper. Why stop there? There are few tangibles you can currently buy in volume for 50% of their intrensic value. I say go for the Guiness record, because every dollar you put in now is immediately doubled and will grow as copper prices increase. It's pretty hard to lose, unless you are worried about a Mad Max type collapse and have no suitable means of storage. All the best with your prepping!

Ragnarok | 02-21-2010 06:32 PM
Re: Hoarding Copper pennies for SHTF? Let's see... a penny is 3/4 inch (.75) in diameter... what's that, about 10 gauge (.77)? :ok: R.

Irons | 02-21-2010 06:34 PM
Re: Hoarding Copper pennies for SHTF? Hoarding Copper pennies for SHTF?....UMMM.....No.:no_ma::no_ma:

nickelless | 02-21-2010 06:49 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Irons (Post 2192150) Hoarding Copper pennies for SHTF?....UMMM.....No.:no_ma::no_ma:
Care to elaborate why not?

Ag_man | 02-21-2010 07:41 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Irons (Post 2192150) Hoarding Copper pennies for SHTF?....UMMM.....No.:no_ma::no_ma:
No, probably not. But in the case of a German hyperinflationary type scenario, makes sense to me, but not as much as real PMs.

nickelless | 02-21-2010 08:14 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Ag_man (Post 2192252) No, probably not. But in the case of a German hyperinflationary type scenario, makes sense to me, but not as much as real PMs.
But what if nobody can make change for your silver? That'd be like having only quarters and dimes but no pennies--someone would be getting screwed if one of the parties in a transaction couldn't make change. That's why copper pennies can be useful WTSHTF.

Ag_man | 02-21-2010 08:26 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by nickelless (Post 2192303) But what if nobody can make change for your silver? That'd be like having only quarters and dimes but no pennies--someone would be getting screwed if one of the parties in a transaction couldn't make change. That's why copper pennies can be useful WTSHTF.
Good point there. I recall reading about the lack of small change during the Argentine crisis. That's one reason why I do hoard nickels to a limited extent.

beercritic | 02-22-2010 06:14 PM
Re: Hoarding Copper pennies for SHTF? Quote:
Originally Posted by Irons (Post 2192150) Hoarding Copper pennies for SHTF?....UMMM.....No.:no_ma::no_ma:
So now we have a use for the zinc cents. Cool!

All times are GMT -4. The time now is 09:44 AM. |

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2010, Jelsoft Enterprises Ltd.
Copyright = None use it and Link to GIM