Advice on Copper Pennies
Posted: Mon Jul 13, 2015 4:06 pmHey everyone,
Lately I have been buying a LOT of copper pennies for various sources, including this forum. I wanted to give a few points of advice.
#1 I would advise against rolling your coin. You may think that rolling the coins gives you an easy way to tell the face value, and that is correct, but copper pennies trade per pound. I am sure there are some people out there who prefer them rolled, but if I am buying $1000 FV I don't want to have to break open 2k rolls so I can verify and resell them in bulk lots.
#2: Avoid containers that weigh more than 2500 pounds. On one of my most recent deals the seller had pallets of steel barrels with each pallet coming in at around 5,000lbs. These pallets where stored inside of a garage and not at an industrial location with forklift access. The lift gates on the semi trucks have a capacity if 2750lbs so they will not lift anything more than 2500lbs. The seller of the coins had to literally rent a forklift so get them onto the truck. This is an extra $200-300 charge that you don't need. If you have access to a loading dock and forklift then the 5,000lbs is not a big deal.
#3: If you are using plastic bags to store your copper pennies in, get the bags that don't have the sticky seal on the inside. I recommend using Coin Lok bags, but there are cheaper options out there. Nothing worse then cutting open the bags and have 100 coins stuck to the bag and having 10 out of the 100 be so junked up you don't want to put them with the rest of the copper.
I will update this periodically but that those are my 2 copper cents worth of opinions for now.
Lately I have been buying a LOT of copper pennies for various sources, including this forum. I wanted to give a few points of advice.
#1 I would advise against rolling your coin. You may think that rolling the coins gives you an easy way to tell the face value, and that is correct, but copper pennies trade per pound. I am sure there are some people out there who prefer them rolled, but if I am buying $1000 FV I don't want to have to break open 2k rolls so I can verify and resell them in bulk lots.
#2: Avoid containers that weigh more than 2500 pounds. On one of my most recent deals the seller had pallets of steel barrels with each pallet coming in at around 5,000lbs. These pallets where stored inside of a garage and not at an industrial location with forklift access. The lift gates on the semi trucks have a capacity if 2750lbs so they will not lift anything more than 2500lbs. The seller of the coins had to literally rent a forklift so get them onto the truck. This is an extra $200-300 charge that you don't need. If you have access to a loading dock and forklift then the 5,000lbs is not a big deal.
#3: If you are using plastic bags to store your copper pennies in, get the bags that don't have the sticky seal on the inside. I recommend using Coin Lok bags, but there are cheaper options out there. Nothing worse then cutting open the bags and have 100 coins stuck to the bag and having 10 out of the 100 be so junked up you don't want to put them with the rest of the copper.
I will update this periodically but that those are my 2 copper cents worth of opinions for now.
