$5.00 Cu

[Cu Penny Hoarder]

Once again. Hasn't been this price since early 2022.

Will it break through the $5 resistance level and go higher or fall back down?

https://finviz.com/futures_charts.ashx?t=HG&p=h

[shinnosuke]

Shall we, we mere mortals, yet be declared genius for our piles of copper?

Here's your life hack of the day:
There's a lot of copper swinging around in those Tesla charging stations. Please note that I am not recommending or suggesting or encouraging any of you break the law of the land nor this critical law: Thou shalt not steal. I'm just saying that if you drive a Tesla, you might pull into a non-functioning charging station someday when your last lithium fumes are wafting away.

https://www.zerohedge.com/commodities/c ... rices-soar

[Cu Penny Hoarder]

Shall we, we mere mortals, yet be declared genius for our piles of copper?

Here's your life hack of the day:
There's a lot of copper swinging around in those Tesla charging stations. Please note that I am not recommending or suggesting or encouraging any of you break the law of the land nor this critical law: Thou shalt not steal. I'm just saying that if you drive a Tesla, you might pull into a non-functioning charging station someday when your last lithium fumes are wafting away.

https://www.zerohedge.com/commodities/c ... rices-soar

If the copper is under the $1000 CA legal stealing limit, it's okay!

[JerrySpringer]

I really hope some finfluencer does not get on the horn and yab about how the non-zinc Lincoln cents are now worth $0.03 in copper. All it takes for banks to cut us off is a bunch of people to start going into banks constantly asking for the pennies. NAJ.

CRH'ing cents and nickels is a hobby for me and a bit of a way to stack some metal other than silver or gold which, at this point, I would rather play the ETF versions (PSLV, GLD, etc) on than pay the physical premiums. I've about given up on dimes and half dollars CRH'ing. Luckily the few half dollars I buy from banks that are typically non-Ag I can readily spend at the grocery self-serve cash checkout lane.

[Silver4face]

I really hope some finfluencer does not get on the horn and yab about how the non-zinc Lincoln cents are now worth $0.03 in copper. All it takes for banks to cut us off is a bunch of people to start going into banks constantly asking for the pennies. NAJ.

CRH'ing cents and nickels is a hobby for me and a bit of a way to stack some metal other than silver or gold which, at this point, I would rather play the ETF versions (PSLV, GLD, etc) on than pay the physical premiums. I've about given up on dimes and half dollars CRH'ing. Luckily the few half dollars I buy from banks that are typically non-Ag I can readily spend at the grocery self-serve cash checkout lane.

Good post Springer, but if you are worried about banks cutting us off, then buy rolls NOW!!!! Stop at every bank you see. Buy rolls even if you don't have time to open them. You will eventually have time.

[Cu Penny Hoarder]

This week I am helping my aunt move and clean out the house. She has a few 5 gal water jugs filled to the top with pennies. She said there were lots of wheaties in there.

JACKPOT!

Will give you guys the results of this hoard in a separate post.

[DC_Penny_Guy]

Well, it's back down to $4.92, so....

[Silver4face]

Well, it's back down to $4.92, so....

Where did you get the $4.92 from? Or is that a typo? Earlier today when you posted this, coinflation said $4.62, and Kitco said $4.61

[JerrySpringer]

Saw this today:

https://www.msn.com/en-us/autos/news/el ... f335&ei=14


At what point will copper prices get high enough that inevitably the black market will start taking in copper cents to melt? I know it is a federal crime and all that, but the risk/reward ratios for crime are all over the place for any larceny or property related criminal activity. This being government property apparently as far as the 1 cent coin goes might not mean jack if a criminal ring gets into it. I am being half-serious, but all the copper thefts and catalytic converter thefts still go on. Like those elaborate grifts to scam systems with inside information, I'd not be surprised if a long scheme is possible to take in the copper cents and melt them with regular scrap copper as long as they can cover their tracks. We should have a national registry of Ryedales for this now.

[Cu Penny Hoarder]

Saw this today:

https://www.msn.com/en-us/autos/news/el ... f335&ei=14


At what point will copper prices get high enough that inevitably the black market will start taking in copper cents to melt? I know it is a federal crime and all that, but the risk/reward ratios for crime are all over the place for any larceny or property related criminal activity. This being government property apparently as far as the 1 cent coin goes might not mean jack if a criminal ring gets into it. I am being half-serious, but all the copper thefts and catalytic converter thefts still go on. Like those elaborate grifts to scam systems with inside information, I'd not be surprised if a long scheme is possible to take in the copper cents and melt them with regular scrap copper as long as they can cover their tracks. We should have a national registry of Ryedales for this now.

Oh please... don't give them any ideas!

[Recyclersteve]

Just took a carload of copper (also some aluminum and brass) to the scrapyard Monday. Got $166 for it. My backyard looks cleaner as well.

[Recyclersteve]

I really hope some finfluencer does not get on the horn and yab about how the non-zinc Lincoln cents are now worth $0.03 in copper. All it takes for banks to cut us off is a bunch of people to start going into banks constantly asking for the pennies. NAJ.

CRH'ing cents and nickels is a hobby for me and a bit of a way to stack some metal other than silver or gold which, at this point, I would rather play the ETF versions (PSLV, GLD, etc) on than pay the physical premiums. I've about given up on dimes and half dollars CRH'ing. Luckily the few half dollars I buy from banks that are typically non-Ag I can readily spend at the grocery self-serve cash checkout lane.

Good post Springer, but if you are worried about banks cutting us off, then buy rolls NOW!!!! Stop at every bank you see. Buy rolls even if you don't have time to open them. You will eventually have time.

The average person can’t afford to have rolls of unsearched coins sitting around for years because inflation makes them worth less each year.

[TXSTARFIRE]

Wouldnt inflation make copper cents worth more?

[shinnosuke]

Wouldnt inflation make copper cents worth more?

Intrinsically, yes, but across the counter at the convenience store, no, unfortunately.

I really want to start dumping my pile of pretty pennies.

[Silver4face]

I just checked, copper is down to $4.64. That's still pretty good, but $5 cu might be difficult to reach. Every time we get close, it gets smashed down. Sort of like silver and gold.

[hirbonzig]

We’re all playing the long game when it comes to copper hoarding, and we’ll probably have to hang on for a while longer. The EV market will probably grow after the nations grid has been upgraded and charging stations are on every other corner, both taking an enormous amount of copper. Who knows what Abe will be worth 20 years from now?

[Cu Penny Hoarder]

I just checked, copper is down to $4.64. That's still pretty good, but $5 cu might be difficult to reach. Every time we get close, it gets smashed down. Sort of like silver and gold.

False/failed breakout. Oh well. One day it'll breakout of $5 and hold as the main support level. More waiting.

[Doctor Steuss]

The average person can’t afford to have rolls of unsearched coins sitting around for years because inflation makes them worth less each year.

Sometimes I wonder if I had been better off cashing them all in years ago, and converting them over to some bonds. I think I'm emotionally attached to the dang things now, though, lol. Lot of time sitting at the table, driving to the bank, etc., to get the modest little stockpile.

[shinnosuke]

ZH article on copper:

There are miles and miles of redundant copper wiring waiting to be harvested.

https://www.zerohedge.com/commodities/c ... -old-cable

[Morsecode]

In past years, I would routinely see piles of copper wire along the railways where I was hunting the glass insulators they were once attached to. I'm talking 40 years ago. No copper sitting around these days.

[Recyclersteve]

Wouldnt inflation make copper cents worth more?

Yes, but look at it this way. Let’s say you have unsearched rolls which will (on average) yield 85% zincs and 15% coppers.

You are losing money to inflation for the zincs that just sit around for years. I can understand keeping the coppers, which may indeed keep up with inflation. If you are wealthy enough, you can probably just sit on a bunch of bags for years. I’m not there yet.