Bulk penny pricing

[pennyaholic]

I work at a school and they do a penny drive every March. There is 30+ water bottles being filled up with pennies and I would like to know what would be a fair price for a pound. It seems in the past it has been around 1.60 but with the ratio getting lower, that would seem low. I have just weighed a sample pound and came up with a number in the past and that may be the answer but still would like to here some thoughts. Oh yes I am a hand sorter and last year I passed on them due to the amount and that may happen again.

[PennyBoy]

30+? Yikes! What size water bottles?

Great question, as I've wondered the same thing.

[VWBEAMER]

$1.70 per pound.

You can't lose, if it's all zinc, you're getting over 180 pennies for 1.70
If it's all copper, you getting a pound of copper for $1.70.

[barrytrot]

Also do not pass this up unless you don't want to sort through it. I'm sure you could find a member here to arbitrage with you so that you could afford the "buy" and then take the payback in copper.

[toomuchcopper]

$1.60 is a very fair price......I would not pay more than that. Pennies are pennies regardless if they come from a penny drive, cwr, or the bank, You certainly would not want to pay more than face value. Besides, you are helping them out by taking them off there hands, they now do not have to bring them to the bank or pay for them to be counted. Its a win win.

[Mooski]

$1.60 to $1.65 is a fair price for pennies like that.

A 5 gallon water jug holds about $225 or so.

Thirty 5 gallon water buckets filled with pennies? $7,000 would be a fair price for all of those.