question on selling copper cents

[jrf30]

I'm in a quandary, so I'll ask here, and get some opinions.

I have some copper cents. A fair amount. I used to sell them on ebay and Craig'slist for 1.6X face. Then 1.5X and finally 1.4X face. When copper kept going down I stopped selling and started hoarding. Figured it was fine, and someday when prices went back up I'd sell again. I didn't want to sell at 1.25X face. (HA. If I knew then what i know now. Right?)

Now I have decided that in the (somewhat near) future I am going to MOVE. I don't want to take the pennies, as the move is charged by WEIGHT, and I'll be moving a long interstate distance. So I need to unload. I have about 1.2 tons (my estimate) left at this time after doing some sales these last two weeks. I don't want to put them back on Ebay, as the fees eat up so much and the prices are pretty low. I put some on Craigslist, which is where the sales have been the last two weeks, but I've have had five people say they want them "all" and then when I respond I never hear from them again. Except one guy, who first said he would take all I hvae, and when I mentioned it was about $3,500 face (Again. AN estimate) he said he wanted $10 or so. After all, that was a huge 1,000 pennies. LOL then he wanted me to meet him about 25 miles away. that deal didn't happen.

I'm thinking of selling them off at 1.1X face. yes I know. that is CHEAP. But, the market seems so DEAD right now! I asked Adam but even he is not buying right now. I see where someone dumped 5,000 pennies back to the bank. Yikes! SOmeone else said they were letting $3,000 in pennies loose in TN this month. At the bank. That's a lot of copper going back into the system. Just crazy.

So ... do you think I can even GET 1.1X face? Are copper pennies selling at ALL that you know of? Or do I need to bite the bullet and throw them back? I'll start sorting again when I get settled but don't want to take them with me for the cost of the move. So they shall stay in Phoenix. Or get sold to someone somewhere. But here's my question to you guys: Is there a market at ALL right now for these things? You guys have been on this site a lot longer than I have, so I ask if you think there is a market, since I am forced to sell at this terrible timing.

Thoughts?

[johnbrickner]

You have my empathy. I just moved cross town and only had about $1,000 face. They were the only thing the hired help complained about moving. Oh, well the books too but not near as much.

As for "is there a market" I've only stacked and purchased from others but, @ 1.1 X face shipped I'd take a CTU or two. I also live in the Syracuse area of NY so not sure you'd make a profit by sending them to me via USPS. But, I understand they fit in one of those postal mailers rather nicely. And given your newness and lack of feedback, you'd ship first. We'd have to renegotiate a lower price if it had a lot of ugly Abes in it. I hate having to sort them out when they look like they came out of a fountain.

Wow, I just reread the above. Doesn't sound like much of a market out there. Good luck.

[fasteddy]

Whereabouts are you....maybe a RC'er close to you will purchases @ 1.1fv.

[JadeDragon]

He said Phoenix.
Someone should buy these - I would but I'd have to illegally export them to Canada

They don't take up a lot of space... consider putting them in your car, or storing with a local family member. Hate to see them thrown back in the bank.

[chris6084]

I feel for you. I just moved half way across the country.

I sold most of my copper for a small profit on eBay, and I was lucky enough to have a local buyer buy everything I had left for a very small profit plus lunch.

[drofdrugs]

I think I would find some way to take them with me. Maybe a small tow behind uhaul trailer or something. They are always good as emergency savings if nothing else. Good luck!

[blackrabbit]

It is crazy if you can't get rid of them for 1.1. Sad times for penny sorters. I'd buy some if I was in your area. There has got to be someone around there who would want them for that.

[TXBullion]

Im not sure if high roller is still buying but maybe check with him?

[smackvay]

high roller is buying literally tons of them I read on here the other day
I would buy them as an investment if you were closer to me
dang it

Mike

[Recyclersteve]

PM sent. I know of a dealer in the Phoenix area.

[jrf30]

Update.

talked to highroller. he is not buying at this time. talked to the two leads I was given locally here. Both not buying. One even said no at 1.0X face, just so I could unload them. I'll keep at it, but just not a good time. I'll post on Craigs list under it gets closer to time, and then give back whatever I don't sell.

As for taking them with me, I'll be putting my silver and other valuables in the car with me, not my copper. Too many truly valuable things that take priority over something that is worth 10% more than what I can get at the bank with no effort. Plus, my truck would be overloaded just with copper if I tried to take it all.

But I really appreciate all the suggestions. And I'll pass on sending them out to someone in NY and sending first without payment, having them scrutinized for any issues and just being treated below what I'll accept in standards. I know you are trying to protect yourself, but that is so skewed that I'll pass. Especially on just 1 or 2 CTU. Best of luck to you, but no thanks at this time from me. No hard feelings.

Back to CL with these. Love the board here though. And even though I might be new "here", I'm not new to the industry, and if asked could have given some solid referrals. Just saying.

[misteroman]

I will be doing a long distance move myself soon and trying to figure out what to do with mine as well. I unfortunately inherited my childhood home 2 yrs ago unexpectedly and will never sell it so may just put them there. Will take many truckloads and probably a few broken backs but seems like the best plan as soon as the weather breaks. Thank God I didn't store in the 55 gal drums as that would've been horrible to take back out.
Good luck to you as well!
D

[TXBullion]

I will be doing a long distance move myself soon and trying to figure out what to do with mine as well. I unfortunately inherited my childhood home 2 yrs ago unexpectedly and will never sell it so may just put them there. Will take many truckloads and probably a few broken backs but seems like the best plan as soon as the weather breaks. Thank God I didn't store in the 55 gal drums as that would've been horrible to take back out.
Good luck to you as well!
D

Unless you put the drums on pallets , then you could just use a fork lift pallet jack and make it east.

[TXSTARFIRE]

I will be doing a long distance move myself soon and trying to figure out what to do with mine as well. I unfortunately inherited my childhood home 2 yrs ago unexpectedly and will never sell it so may just put them there. Will take many truckloads and probably a few broken backs but seems like the best plan as soon as the weather breaks. Thank God I didn't store in the 55 gal drums as that would've been horrible to take back out.
Good luck to you as well!
D

Unless you put the drums on pallets , then you could just use a fork lift pallet jack and make it east.

Unless they are in your basement.

[Catfish4u]

I would pay 1.2 cents each shipped/delivered.

[AGgressive Metal]

I will be doing a long distance move myself soon and trying to figure out what to do with mine as well. I unfortunately inherited my childhood home 2 yrs ago unexpectedly and will never sell it so may just put them there. Will take many truckloads and probably a few broken backs but seems like the best plan as soon as the weather breaks. Thank God I didn't store in the 55 gal drums as that would've been horrible to take back out.
Good luck to you as well!
D

Unless you put the drums on pallets , then you could just use a fork lift pallet jack and make it east.

That still doesn't get them OUT of the barrel. It was quite the task trying to get 1,000 lb barrels up 3 feet in the air when barrels have nothing for the forklift to grab on to (rigged up some nylon straps and proceeded to wing it like a Red Green Show handyman's corner sketch), turn them over into coin bins, so that the bins could be dumped into hopper, and from hopper to ballistic sack. We risked death by copper-crushing for you Jack

[Thogey]

A good shop vac would work getting them out of the barrel

[xippi]

A good shop vac would work getting them out of the barrel

how about a good sawsall and a dull... i mean sharp blade?

[TXBullion]

I will be doing a long distance move myself soon and trying to figure out what to do with mine as well. I unfortunately inherited my childhood home 2 yrs ago unexpectedly and will never sell it so may just put them there. Will take many truckloads and probably a few broken backs but seems like the best plan as soon as the weather breaks. Thank God I didn't store in the 55 gal drums as that would've been horrible to take back out.
Good luck to you as well!
D

Unless you put the drums on pallets , then you could just use a fork lift pallet jack and make it east.

That still doesn't get them OUT of the barrel. It was quite the task trying to get 1,000 lb barrels up 3 feet in the air when barrels have nothing for the forklift to grab on to (rigged up some nylon straps and proceeded to wing it like a Red Green Show handyman's corner sketch), turn them over into coin bins, so that the bins could be dumped into hopper, and from hopper to ballistic sack. We risked death by copper-crushing for you Jack

http://www.uline.com/Product/Detail/H-1 ... lsrc=aw.ds

Im sure that can be used in some variation , angle to tilt in but if you don't use barrels regularly then not worth it.

[Shazbot57]

Don't know if you've already moved, or sold/disposed of the pennies, but thought it was worth asking, "to what area are you moving"?

[natsb88]

That still doesn't get them OUT of the barrel. It was quite the task trying to get 1,000 lb barrels up 3 feet in the air when barrels have nothing for the forklift to grab on to (rigged up some nylon straps and proceeded to wing it like a Red Green Show handyman's corner sketch), turn them over into coin bins, so that the bins could be dumped into hopper, and from hopper to ballistic sack. We risked death by copper-crushing for you Jack

http://www.uline.com/Product/Detail/H-1 ... lsrc=aw.ds

Im sure that can be used in some variation , angle to tilt in but if you don't use barrels regularly then not worth it.

Sounds like Portland Mint needs some more material handling equipment

I have one similar to that for the forklift, and something similar to this which works with the forklift or the Presto lift or the chain hoists.

http://www.ebay.com/itm/Merrill-Bros-Dr ... 1924125690

I think I paid ~$50 for the forklift attachment at an auction and the other one was on a skid lot I paid $90 for that also included some cool steel folding ramps, a 5-gallon bucket almost full of nice wood lags I'm using in my house, some steel cable I still have laying around, and a boat anchor I gave to a guy at the auction who help me load my winnings

We put the turnings from the machine shop (scrap steel, stainless, and aluminum) in 55-gallon drums so those things come in handy. Always a little more challenging loading open-top barrels though since they tend to squeeze into an oval.