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Melting pennies
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Melting pennies
On Thu, 03 Aug 2006 09:15:19 -0600, Dave Allured
wrote: http://www.denverpost.com/keefe/ci_4104553 What a moronic, harmful, bunch of mis-information, pure zinc ingots spot price is $1.50, and it would take 190 cents to make a pound. Add in the cost of the fuel for the smelting, the cost of flux, the labor, and the whole idea is worse than any old wives tale or outhouse rumor ever told. No doubt the fixated congressman instigated that rumor, and it will no doubt cause many fools to start hoarding zinc, certain to be disappointed when they find out that not only will they never be worth a cent in metal, but that nobody will ever want to buy them for more than face value. I hope nobody will be so foolish and cause more harm, controversy, and disappointment. Joe Fischer |
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Melting pennies
"Joe Fischer" wrote in message ... On Thu, 03 Aug 2006 09:15:19 -0600, Dave Allured wrote: http://www.denverpost.com/keefe/ci_4104553 What a moronic, harmful, bunch of mis-information, pure zinc ingots spot price is $1.50, and it would take 190 cents to make a pound. Add in the cost of the fuel for the smelting, the cost of flux, the labor, and the whole idea is worse than any old wives tale or outhouse rumor ever told. No doubt the fixated congressman instigated that rumor, and it will no doubt cause many fools to start hoarding zinc, certain to be disappointed when they find out that not only will they never be worth a cent in metal, but that nobody will ever want to buy them for more than face value. I hope nobody will be so foolish and cause more harm, controversy, and disappointment. Joe Fischer Melting Zinc is relatively easy to do and potentially deadly. The fumes are toxic and it doesn't take much. Hope some do it yourselfer doesn't want to make zinc ingots for later resale. Dale |
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Melting pennies
On Thu, 3 Aug 2006 12:44:22 -0500, Dale Hallmark dalehall wrote:
"Joe Fischer" wrote in message ... What a moronic, harmful, bunch of mis-information, pure zinc ingots spot price is $1.50, and it would take 190 cents to make a pound. Melting Zinc is relatively easy to do and potentially deadly. The fumes are toxic and it doesn't take much. Yup. Hope some do it yourselfer doesn't want to make zinc ingots for later resale. A smarter approach might be to just stockpile them in their present form, on the thought that eventually a "spot market" may develop for them in coin form, like junk silver. Worst case, you get 100% of your investment back and you lose the 3% potential interest gains. If only all speculativce investments paid off this well. And that doesn't even get into the 30-40% copper penny percentages (around here anyway). I've got a standing request with the bank manager for penny bags - $50.00 at a time. Working through my first one, if the second one is ready before I finish sorting the first, I'll just stick it in the basement. And yes, there are ways to sort zinc vs. copper pennies without inspecting every one of them. Different mass, different density, different electromagnetic signatures... |
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Melting pennies
On 3 Aug 2006 17:51:52 GMT, Dave Hinz wrote:
On Thu, 3 Aug 2006 12:44:22 -0500, Dale Hallmark dalehall wrote: "Joe Fischer" wrote in message ... What a moronic, harmful, bunch of mis-information, pure zinc ingots spot price is $1.50, and it would take 190 cents to make a pound. Melting Zinc is relatively easy to do and potentially deadly. The fumes are toxic and it doesn't take much. Yup. Good information. :-) Hope some do it yourselfer doesn't want to make zinc ingots for later resale. A smarter approach might be to just stockpile them in their present form, on the thought that eventually a "spot market" may develop for them in coin form, like junk silver. Worst case, you get 100% of your investment back and you lose the 3% potential interest gains. "Investment"? Is this a high class scrap metal secret? If only all speculativce investments paid off this well. US Savings Bonds would be much better, the ones I just cashed cost $50 and redemption value was $431.00. And that doesn't even get into the 30-40% copper penny percentages (around here anyway). Good thinking, free labor sorting cents by composition is much appreciated. I've got a standing request with the bank manager for penny bags - $50.00 at a time. Working through my first one, if the second one is ready before I finish sorting the first, I'll just stick it in the basement. Really good idea, find a damp area and there will be lots of pretty patina colors. And yes, there are ways to sort zinc vs. copper pennies without inspecting every one of them. Different mass, Sure, I posted details on an easy to build balance in this group 5 years ago, a yardstick and a knife with a sharp edge and a cent from later than 1983 is all that is needed. It takes about 2 seconds per cent, but what is my time worth. different density, Of course, buy two identical scales and put one underwater, and weight the cent on each and compare the difference. Nah, the yardstick balance is better. ..different electromagnetic signatures... Careful, high voltage is dangerous. But wait, I thought the idea was to help the government avoid a more serious problem of the FRB requesting more cents. But it was silly of me to even dream that any cooperation at all was possible. Just think, a whole new class of investors, the zinc miners will be happy, but the silver owners will laugh if zinc goes to $100 a pound, silver will probably be a million dollars an ounce. Joe Fischer |
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Melting pennies
On Thu, 03 Aug 2006 16:57:19 -0400, Joe Fischer wrote:
On 3 Aug 2006 17:51:52 GMT, Dave Hinz wrote: A smarter approach might be to just stockpile them in their present form, on the thought that eventually a "spot market" may develop for them in coin form, like junk silver. Worst case, you get 100% of your investment back and you lose the 3% potential interest gains. "Investment"? Is this a high class scrap metal secret? It's not as dense as, say, gold, from a value per volume standpoint, but if physical space isn't a concern within reason, it's just a matter of watching numbers go up and down. If only all speculativce investments paid off this well. US Savings Bonds would be much better, the ones I just cashed cost $50 and redemption value was $431.00. Great, glad that's working for you. And that doesn't even get into the 30-40% copper penny percentages (around here anyway). Good thinking, free labor sorting cents by composition is much appreciated. Ah, but that would imply it takes human intervention to do so, and/or that the search doesn't happen anyway for other reasons. I've got a standing request with the bank manager for penny bags - $50.00 at a time. Working through my first one, if the second one is ready before I finish sorting the first, I'll just stick it in the basement. Really good idea, find a damp area and there will be lots of pretty patina colors. I built my house; my basement is not damp. And yes, there are ways to sort zinc vs. copper pennies without inspecting every one of them. Different mass, Sure, I posted details on an easy to build balance in this group 5 years ago, a yardstick and a knife with a sharp edge and a cent from later than 1983 is all that is needed. It takes about 2 seconds per cent, but what is my time worth. That's one way to sort them. Not very fast though. different density, Of course, buy two identical scales and put one underwater, and weight the cent on each and compare the difference. That's one way to do it I guess, but treating them as a fluid and finding a medium which is cheap, abundant, and has a density between zinc and copper would work in a vibratory table. (hint: iron) Nah, the yardstick balance is better. .different electromagnetic signatures... Careful, high voltage is dangerous. Um, no. Actually the differences in induced eddy currents between the two are on the scale of picoamps. But wait, I thought the idea was to help the government avoid a more serious problem of the FRB requesting more cents. I don't give a rat's ass about the FRB, sourcing of cents, or anything else. If I can buy 3 bullion for 1/3 it's value and sort it efficiently, I'll do it. But it was silly of me to even dream that any cooperation at all was possible. Not my argument, I don't care about that end of things. Just think, a whole new class of investors, the zinc miners will be happy, but the silver owners will laugh if zinc goes to $100 a pound, silver will probably be a million dollars an ounce. I'm not sure I understand where you're going with this. I see a bullion source where I can readily get the metal for 1/2 or 1/3 of melt, and where at worst, I break even. Sorting with an un-attended machine costs me very little money. |
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Melting pennies
On 3 Aug 2006 21:05:59 GMT, Dave Hinz wrote:
I don't give a rat's ass about the FRB, sourcing of cents, or anything else. If I can buy 3 bullion for 1/3 it's value and sort it efficiently, I'll do it. But you are paying twice the metal value for zinc cents, and zinc is traditionally less than 50 cents a pound, and it is expected to fall to near that price soon. From http://biz.yahoo.com/iw/060705/0141372.html "C. K. Benner, Vice Chairman and CEO added; "The current and contemplated increase in zinc production at Neves-Corvo, combined with achieving full capacity at the Aljustrel mine by mid 2008, would bring our annual production of contained zinc metal to approximately 300 million pounds. On a consolidated annual basis, by 2008 we estimate to be producing approximately half a billion pounds of contained copper and zinc or approximately 650,000 tonnes of concentrate. This would make EuroZinc a significant concentrate producer on a global scale." "EuroZinc is a Canadian based company engaged in the acquisition, exploration, development and mining of base metal deposits internationally. In addition to the Neves-Corvo mine the company also owns the Aljustrel mine in Portugal, which is expected to start zinc, lead and silver production by the second half of 2007." [Unquote] It is possible the mint planners know things like this and consider the 3 or 4 year average of prices in their planning. Joe Fischer |
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Melting pennies
On Thu, 03 Aug 2006 21:30:43 -0400, Joe Fischer wrote:
On 3 Aug 2006 21:05:59 GMT, Dave Hinz wrote: I don't give a rat's ass about the FRB, sourcing of cents, or anything else. If I can buy 3 bullion for 1/3 it's value and sort it efficiently, I'll do it. But you are paying twice the metal value for zinc cents, and zinc is traditionally less than 50 cents a pound, and it is expected to fall to near that price soon. Who said I'm keeping the zinc ones?!?!?! It is possible the mint planners know things like this and consider the 3 or 4 year average of prices in their planning. And it's possible that 30 years from now, my kids will be glad I did this. Worst case I break even. I'm perfectly content with more people not doing this. |
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Melting pennies
"Dave Allured" wrote in message ... http://www.denverpost.com/keefe/ci_4104553 I am saving pre 1982 cents, I sort them out manually and save out all the pre 1959 US cents, the pre 1965 Canadian Cents, the S- Mints and the occasional Euro 2¢ coins I find in the rolls. I have gotten over 100 wheat backs dated as early as 1926 since early July. I now have approximately 4.000 pre 1982 cents saved up. But the big fun is the finding the wheat cents. |
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Melting pennies
On Fri, 4 Aug 2006 07:25:03 -0400, Sibirskmoneta wrote:
I am saving pre 1982 cents, I sort them out manually and save out all the pre 1959 US cents, the pre 1965 Canadian Cents, the S- Mints and the occasional Euro 2¢ coins I find in the rolls. I have gotten over 100 wheat backs dated as early as 1926 since early July. Our experiences are similar. I've found two 1930 wheaties, one F-12, one EF with a bit of red, bunches of 40s and 50s wheats too. Found a lamination error on a 1960-D, and a bunch of "woodgrain" effect on non-S 1970's cents. I now have approximately 4.000 pre 1982 cents saved up. But the big fun is the finding the wheat cents. Let's see...I've got something in that neighborhood, give or take. The mechanism is nearly perfectly adjusted now though so sorting will become automated. Then I'll go through the copper bucket & pick out the wheats. I'll miss the errors and varieties I'm finding in the manual search I'm doing now, but, oh well. |
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