Copper penny hoarders hosed

[Cu Penny Hoarder]

Sadly, Cu prices will most likely remain low for a very long time.

Weekly copper chart:
https://www.finviz.com/futures_charts.ashx?t=HG&p=w1

I could easily see Cu prices heading back to to $1.00-1.50 level.

I still will not sell/dump my 4000lbs of copper pennies though.

[Dr. Cadmium]

It's always been a long term play.

Think of it this way, everything just went on sale! And it looks like the sale is going to last for a while.

[Recyclersteve]

If you give up, you are playing into the hands of those with deep pockets who LOVE to see the public panic as it creates opportunity for a few. If you are truly concerned now, that is a sign to me that you have too big of a percent of your net worth invested in copper. Please, no offense with that last statement, but my conversations about investing with over 100,000 people in a roughly 20-year timeframe has taught me that.

[Cu Penny Hoarder]

If you give up, you are playing into the hands of those with deep pockets who LOVE to see the public panic as it creates opportunity for a few. If you are truly concerned now, that is a sign to me that you have too big of a percent of your net worth invested in copper. Please, no offense with that last statement, but my conversations about investing with over 100,000 people in a roughly 20-year timeframe has taught me that.

My net worth invested in Cu? - lol - I was simply making a statement. Hoarding Cu was more of a fun hobby than anything else; finding old wheats, rare dates and other interesting things. Still it sux thinking about all those hours I spent procuring $25 boxes and time sorting through it with the Ryedale.

80% of my net wealth is Au and Ag. I saw the what was coming many years ago and I'm well prepared. This virus was just the pin that popped the 10 year stock market bubble, but it's only the beginning. I'm quite convinced that Great depression 2 is right around the corner. Sadly, the majority will have the rug pulled out from under them.

[shinnosuke]

I’ve been wrong for so long about when the crash will happen. Don’t even want to guess anymore. I mean what’s the difference between the current $23 trillion in sovereign debt and $30 trillion where we’re headed soon? None of us can count that high in our lifetimes nor can we imagine any scenario that includes paying that debt back. My only thought is to surround myself with family and trustworthy like-minded individuals. Let’s see if we make it to the other side. If not, I have it on good authority that the next life is pretty sweet.

[MUTiger]

I did it as a hobby and to let my kids have something to remember me by. Let them carry the 34 pound bags out of the basement.
I am still finding some good stuff as well. I found two Indian Head cents in a bag a couple of weeks ago that I picked up in 2015.

viewtopic.php?p=334172#p334172

MUTiger

[shinnosuke]

I did it as a hobby and to let my kids have something to remember me by. Let them carry the 34 pound bags out of the basement.
I am still finding some good stuff as well. I found two Indian Head cents in a bag a couple of weeks ago that I picked up in 2015.

http://www.realcent.org/viewtopic.php?p=334172#p334172

MUTiger

Man, what a great story. It's almost good enough to make me want to start sorting again...almost. Lately my brass (with a lump of lead attached) purchases have earned me some looks from Mrs. shinnosuke.

[Know Common Cents]

I still have too many bags of non-silver coins. CU and NI coinage are what started me collecting decades ago. Tough to keep that up, though, as they take up WAY too much room in my house. Decisions will have to be made in the next couple of years and I probably won't like the outcome. I guess it's a dilemma that we all have to face at one time or another.

[Dave]

I was thinking a couple of years ago if all the sorting I was doing was a waste of time. My basement is full of boxes of Cu pennies. Then this virus comes along and I'm ordering boxes of pennies and nickels every week. I'm right back into sorting fill time. My banks have been great to me , except for one that won't order coins for me. I hope everyone here is is safe and healthy.

[blackrabbit]

I still have a lot of copper pennies that I am saving. I think after a period of very destructive deflation, inflation will kick in making for profitable penny sales. If things get really bad they will help with local barter.

[Recyclersteve]

I was thinking a couple of years ago if all the sorting I was doing was a waste of time. My basement is full of boxes of Cu pennies. Then this virus comes along and I'm ordering boxes of pennies and nickels every week. I'm right back into sorting fill time. My banks have been great to me , except for one that won't order coins for me. I hope everyone here is is safe and healthy.

Nice to hear from someone who is able to get coins and is enjoying the search. Pretty soon you’re gonna need a SECOND basement!

[coppernickel]

I’ve been wrong for so long about when the crash will happen. Don’t even want to guess anymore. I mean what’s the difference between the current $23 trillion in sovereign debt and $30 trillion where we’re headed soon? None of us can count that high in our lifetimes nor can we imagine any scenario that includes paying that debt back. My only thought is to surround myself with family and trustworthy like-minded individuals. Let’s see if we make it to the other side. If not, I have it on good authority that the next life is pretty sweet.

I agree completely. A little copper is an arrow in my preparedness quiver.

[Recyclersteve]

If the government were to ever seize copper pennies (like they did with the Executive Order for seizing gold in 1933), we’d really be in trouble. Can you imagine a government official knocking on the door of your house and asking “Is that your car, the one with the Real Cent decal on the bumper?” To which you proudly reply, “Yes!”. Then the person says “We have a search warrant for copper Pennies for this premises.” I’d be thinking, “But it isn’t April 1st and I’m definitely awake.”

[Investin Cents]

Just scrolled thru this thread and noticed a poster above said this:

"after a period of very destructive deflation"

LOL. Destructive for whom? Maybe Jamie Dimon.


THIS - deflation- is the stuff of nightmares for the banking cartel, the Federal Reserve (which is neither Federal, nor a Reserve - 2 lies in one entity name)

Deflation is the friend of anyone not involved in banking. Everything gets cheaper. The value of cash - coins too - becomes more valuable everyday in a deflationary environment.

This is why the Feds are pouring money from their computers into the banks.

First deflation will win briefly. Then all those digital dollars create inflation as everyone scrambles for few tangible assets. Then hyperinflation. Coming soon to an economy near you. Stay tuned.