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Hoarding pennies
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Hoarding pennies
Dave Allured wrote:
http://www.kitco.com/ind/VanEeden/may082006.html Indeed, it's not like loading 90% silver half dollars into the hopper. |
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Hoarding pennies
On Fri, 12 May 2006 09:38:22 -0600, Dave Allured wrote:
http://www.kitco.com/ind/VanEeden/may082006.html I was with him until he got to "So if you could find a pre-1982 penny...". Random sampling of 8 in my pocket has 3 of 'em. |
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Hoarding pennies
On Fri, 12 May 2006 10:51:10 -0500, Edwin Johnston wrote:
Dave Allured wrote: http://www.kitco.com/ind/VanEeden/may082006.html Indeed, it's not like loading 90% silver half dollars into the hopper. So sort 'em now, put 'em in 5 gallon pails with covers, in the basement, and let 'em sit for a generation or two. Wish my dad had done that in '65 with silver... |
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Hoarding pennies
On Fri, 12 May 2006 09:38:22 -0600, Dave Allured
wrote: http://www.kitco.com/ind/VanEeden/may082006.html Wow, talk about clueless "The average lifespan of a coin is about thirty years, so by now most of the pre-1982 pennies have long since been reused by the US Mint to make new copper-plated zinc pennies. If you can find a pre-1982 penny it would make a neat conversation piece but I am afraid that as a money-making scheme, trying to hoard pennies is about as lame as hoarding paper dollars." When did the mint start melting down the old cents to reuse the metal? I must have missed the memo. Pretty interesting that pre-1982 pennies are so rare in change they are a 'conversation piece"! I also had no idea that it would cost $10,000 to carry 3.4 tons of cents to the smelter. Talk about expensive cartage fees! Reclining Buddha The Original Couch Potato! |
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Hoarding pennies
Dave Hinz wrote:
So sort 'em now, put 'em in 5 gallon pails with covers, in the basement, and let 'em sit for a generation or two. Wish my dad had done that in '65 with silver... ================= Any idea how many pennies fit into a 5 gallon bucket? IMHO need quite a few to make a 'double your money' plan feasible. =================== |
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Hoarding pennies
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#8
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Hoarding pennies
Reclining Buddha wrote:
On Fri, 12 May 2006 09:38:22 -0600, Dave Allured wrote: http://www.kitco.com/ind/VanEeden/may082006.html Wow, talk about clueless "The average lifespan of a coin is about thirty years, so by now most of the pre-1982 pennies have long since been reused by the US Mint to make new copper-plated zinc pennies. [...] And then (as was discussed in another thread), he talks about the composition of the "penny" changing in 1837 - which it didn't. And if he's going to go into detail about the composition of the cent, he could at least mention the change from the large cent to the small cent. And there's no contact info (other than his publisher) on his web site, so he obviously doesn't want people correcting him. -- Jim Seymour |
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Hoarding pennies
On Fri, 12 May 2006 19:41:57 GMT, e wrote:
In article , Dave Hinz wrote: So sort 'em now, put 'em in 5 gallon pails with covers, in the basement, and let 'em sit for a generation or two. Wish my dad had done that in '65 with silver... a smart man helped his entire family because he read and thought. i was damn lucky and know it. So that's the plan then. Worst case, my kids find the buckets-o-copper, and say "Wow. What the hell was dad thinking on this one, I wonder? I bet it was the metals price spike of '06, before everything crashed back to normal", and they cash them in. Best case, they've got hundreds of pounds of something worth something. |
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Hoarding pennies
On Fri, 12 May 2006 19:45:52 GMT, e wrote:
In article , Dave Hinz wrote: Today there might not be a market in "melt value for copper coins", but how high does copper have to go before there is? has anyone actually sold pennies to a scrapper? that is the story i want to know. Good question. I don't know either. But like I say, when it gets to a high enough level, you'll be able to. Maybe. |
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