Is 20% worth it? I'm making $3.75 per hour.

[Finder]

3 boxes netted me 1720 copper pennies. (out of 7500 coins)

Thats an above average 22.9%.

With copper at 4.23 thats a melt value of $48.05.
(11.2 lbs of copper)

3 Boxes cost me $75, dumping my zincs cost me 9.8% of $57.80.
that about $5.65.

So then, my cost to get the 11.2 lb of copper pennies was $17.20 plus $5.65= $22.85.

But alas, I cant sell them for melt value, but double face on ebay on a good day.

Thats $34.40 (a profit of $17.20 minus any ebay and paypal fees)

If you not bored or confused yet bear with me...

I takes me 1 hour to sort 1 box. So i have 3 hrs invested in sorting.
But I have another hr invested in both going to the bank and dumping my zincs on coinstar.
So 4 hours work divided by $15 ( remember ebay,paypal fees?) makes my work worth $3.75 per hour.

I could flip burgers at Mcdonalds for more. That not even minimum wage.

Ways to improve my return and the potential results:
1. Find a bank to dump my stinks on for free. (add the $5.65 coin star fee back)
2. By a Ryedale and be able to sort much faster. But how many 1000s of coins would it take to recoup $500? Thats out of most peoples practical reach imo.

So let say I find a free dump station and add the $5.65 back, now Im making $5.16 per stinking hour.

Wheats help a little, or an IHC especially if a key date is found. A rare occurance.

I am betting (and hoping) copper goes up more, thus my return.

If the opposite happens this might not be the best use of ones time or money considering the low return of this investment.

For example, if I could sell for triple face (or melt value), then I would be making about $8 per hour using coinstar to dump. 4 times face or more would make it more worthwhile...

By the way, the days of free dumping could quickly end if more sorters swamp the free dump locations. Unless you married a teller.

I enjoy doing this, but my profits arent going to be that high.

Thoughts, tips on higher profitability, or anything else anyone want to say is welcome.
Pro or con.

[Rodebaugh]

The keys are out there.....I have done well hand sorting......keep at it and know your keys and you could strike zinc gold.

[aloneibreak]

first off youre hardly the first that has posted this kind of thing

definately find somewhere to dump for free - that will help alot

nothing says you have to be sorting and hoarding for an immediate profit

do it for the relaxation and enjoyment

sort an amount that you feel comfortable with and just enjoy it !

if you really want to add more to your hoard just buy from members here on the board -- definately less work

[CardsNCoins]

I average 27% to 30% copper per box and dump zinc for free, and my figures show about $5 per hour return.

With the above average I get about 5 pounds (725 to 750 pennies) per box, and a box takes me about an hour to sort.

If you could sell 5 pounds (the approximate amount copper I find in one box) on eBay for $16 + $5 shipping you would pay $3.00 in fees (20 cents listing fee, $1.80 final value fee, and 90 cents paypal fee), so you would come away from eBay with $13.00. Then you have to minus your outlay for the pennies which is $7.50 (based on 750 pennies), making your grand total of profit $5.50

All that is not accounting for time spent picking up the boxes from the bank, time spent dumping the zincs, and time spent going to the post office to mail the package.

As was already mentioned, just do it for the relaxation, and hopefully down the road it may pay off a little bigger for us all.

Your mileage may vary.

Nick

[68Camaro]

Yep. I did that same math (anyone reasonably smart would) after the first round of sorting, and came up with similar numbers; even though I can dump at a lower fee, I'm a slower sorter than you. I've gotten slightly more efficient, but I can't get it up over more than $5 per hour at current prices. Maybe if you could further optimize and take advantage of looking for key numismatics, etc, you might be able to generate more income. But for me it doesn't work as a good trade for the time, if the time you're spending is truly available for something else.

So I concluded (at least for me) was that options were to either a) stop, b) jump into it big time - (sorting machine, counter/wrapper, etc), or c) sort only in "spare" time, while watching TV, for down time, stress relaxation, etc., during which times I don't need to fret about calculating an hourly net for myself. I almost did A) - but I can do that any time. B) isn't an option, for me, at this time. I've got too little time and too many other things to do with it. Leaves me with C). So it's a spare-time, stress-reducing, long-term investment and low-level backup currency creator for a SHTF scenario.

[TheJonasCollegeFund]

It's a hobby to me so no "$$ per hour" here. Just like when I'm out metal detecting, it's never "$$ per hour". I make an effort in my pick-ups and dumps that I'm either coming or going somewhere. And when I search and sort, it's usually when I can't sleep or during a ballgame. I even keep a stash at work for when it's slow. My co-workers like to do crosswords or suduko but I like to search, sort, and roll pennies. If I started to look at my hobbies at $$ per hour..... then shoot...bassboat with a 200hp...1 mile to the gallon...plus gas for my tow vehicle...licenses and permits...tolls... I could go on.....! Hobby for me...and it basically pays for itself!

[Finder]

I think like most of you, I will hold mine for years.
Because cashing out at less than $8 per hour effort
sure isnt my goal.

Silver coins at their circulation time probably didnt seem much worth the effort either.
Then again, you would have to held them for about half a century. lol

[Finder]

One thing that keeps me going is my daughter is totally into it with me.

Now we play a game as we both run them through the machine:

Whoever has the most coppers in their last roll wins all the wheats, if one has a wheat they win, if its a tie of 1 wheats each the oldest wheat wins the boxes wheats.

Put a price on that, I cant.

Another game we play is trying to eyeball all the zincs out beforehand, no looking at the dates, then test what we think are copper from each of our rolls through the machine, highest count wins.

[maoguinn]

I hate to be the bearer of bad news, but lets just say the melt ban was lifted tomorrow. With copper at $4.23, if you took your copper to the scrap yard you would only get #2 copper price. Right now in my area #2 copper is about $3.10 lb. This would throw your calculations way lower. If I am totally wrong about this then someone please correct me. What I am doing is sorting, hoarding, and saving for the future.

[CardsNCoins]

......Right now in my area #2 copper is about $3.10 lb. This would throw your calculations way lower..........

Way lower? My post mentioned selling 5 pounds for $16 which is $3.20 lb. Pretty close if you ask me.

[pennypicker]

Finder, your cu average is 22%+ and you say your net is $3.75 per hour. Can you imagine my frustration with just a paltry 16% out here in Los Angeles? At least Wells Fargo takes my dumps at no charge. I hand sort mainly for the relaxation it brings me though I must admit I'm getting real tired of standing in the long Merchants line at Wells Fargo holding 34 pounds of pennies--sometimes up to 15 minutes!. I have come to the conclusion that if a person is doing this for investment purposes one must either buy a Ryedale or simply purchase 10,000 pennies at a time from fellow board members--hand sorting for profit just isn't worth time, gas and the standing in long Merchant lines at Los Angeles area banks--just too darn many mercants

With that being said it is still a nice feeling to find the occasional pre-40 wheat

[camprunamuk]

I think of it this way...I want to hold mine until they are worth at least a nickel each, so am going to store mine for a few years. I don't ask myself if making a few dollars an hour extra is worth it. I tell myself few people get paid to watch television...and I know I am going to triple or quintuple my money eventually...I don't worry about the dollar amount I make per hour. I just do it because it is like finding treasure, i am investing in the future all while I watch the tube!! Yay!! Hand sorting gives me a way to rationalize TV, LOL

[HoardCopperByTheTon]

Quit Now.. it's not worth it!

"Would you like fries with that, sir?"

[HoardCopperByTheTon]

If you are using Coinstar for disposal you are taking 8.9% right off the top. The margins are pretty thin in this game.. that pretty much wipes them out.

If you are selling on eBay you are giving them 12-15%. The math ain't lookin' so good. You are in the hole.

Just save yourself all the time and trouble and have another member ship you whatever size hoard you would like to have.. right to your front door.

[HoardCopperByTheTon]

What, you thought you were gonna get rich doin' this?

[PennyPauper]

Sorting for copper pennies is a futile boring waste of time Your better off just buying them already sorted from members here.You would protect your purchasing power from inflation quicker and keep your hands clean at the same time
But seriously,don't try putting a $$ per hour value on it because it will ruin your fun.No one really knows what the future value of the copper cents will be 5 to 10 years from now.If your sorting now you clearly understand thats its wise to save them for the future.Sometimes it seems fruitless but you can't talk yourself out of the truth of it.Plus as I have also learned that the time I spend with my daughters when they want to help daddy with his pennys is truly priceless.
The destination is way down the road, you have to enjoy the ride.

[GTOJohn]

it is hard to beat working (sorting) from your own place - and not having to drive to a job or stay there for the shift. being home has its advantages.

[Sheikh_yer_Bu'Tay]

Wild silver is more fun.

[didou]

If you are looking for a immediate profit and you don't like what you are doing, you are pretty much doomed whatever you do.

[Finder]

I did buy $100 FV from Joogler...to help my hoard along.

My last box produced a 1924 in fine. (wish it had a mint mark)

There are ways to make immediate profits.
Once I found an off center state quarter in rolls i searched, several actually.
Costs was 25 cents, I sold them from $35 to $75.

I bought some Bud rounds right before he nearly sold out, a week later Ive sold half to nearly pay for the whole lot.

A month ago I found an arrowhead, it was free.
I sold it for $85 on ebay.

Remote control Herbie cars on clearance at Walmart for $15 sold for $45.

Ill pick up another box of pennies at the credit union today.

Getting paid to do my hobby.

[CU Baker]

$3.75 per hr, I Know people now that if they had $3.75 they would eat.

[beauanderos]

You're right... for $3.75 an hour it's not worth it. For now. That's why the majority of hoarders are planning on socking these cents away long term, and let inflation help out in our efforts. By the time that sorting IS worth it, the percentages available in circulation could well be much lower, buy hey... we've had a head start of several months/years. So... get a job if you can find one. In the meantime, is this a hobby (and I emphasize hobby) that you enjoy doing? What would you be doing with your time if it wasn't spent this way? Something that would potentially create wealth in the future? Do you value all your time this way? If so, then how much are you earning while you're, ummmm, driving? Sleeping? Eating? Texting? In school? One final thought, the dollar is on it's way to revaluation... and I'd much rather be sitting on a pile of copper when that happens then holding a wallet full of worthless paper monopoly money. If you want/need money... search for half dollars.

[Finder]

Its interesting to hear all your opinions on sorting, and your motives for doing this.
How long you plan to hold. When you do your sorting, percentages found, ect.
Its funny to me even the smart alec replies...as if some are offended I pointed out the profits are low.
That wasnt unexpected, it is forgiven.


Copper went up a dime today on tightening supply.
Sooner or later China is going to have to buy more.
Yes, I want to profit also. But patience is key.
Meanwhile the sorting and finding is fun, if not the dumping and getting the boxes.

[Tourney64]

I have also done the calculations and they aren't pretty. There are some things you can do to improve your hourly rate:
- Sort faster. Recommend a used Ryedale, cheaper Ryedale model, or build one yourself for under $40. I created a Youtube video of one I created an early model at the same time the Ryedale came out. The Ryedale machines are top notch.
- Less trip to and from the banks. Get more coin on each trip and dump more on each trip.
- Get higher % of copper. Get customer wrapped rolls, which I find have a higher % than boxed coin from Brinks. I usually find more dimes in my rolls this way. Ask the tellers for any loose rolls.
- Find a dump credit union or bank with a no fee coin counter. Provide your location and other RC members may be able to point you to the best locations. Credit Unions are usually better. Stop using Coinstar unless you can get a gift card you use.
- Look for key dates and error coins, which can have huge returns. Have a list of dates handy for reference. i.e. 1992, 1996, 1998-2000 Wide AM cent can fetch $25 or more and several RC members have found quite a few.

[Finder]

Tourney64, can you point me to a thread that lists, or better yet shows the errors we may find?

Surely someone has made one in the past.

Ive got the 1960 D over D, bought it on ebay.