Newbie Question

[nohitters]

I have been dabbling in copper for a short term but looking to expand in the very near future. My questions are the following.
1. Would it be worthwhile to sell some bulk to expand the capital I have to spend?
2. From others experience, what is the dollar amount weekly that you can obtain weekly and is it from more sources than just banks?
3. At what point have you experienced not being able to get rid of the zincs fast enough?
4. What are others experiences with credit unions in buying pennies? The local ones here have the free coin counters but often free coin counters can be dumps for others as well.

Basically looking for others thresholds where you have experienced difficulties.

Thanks in advance
Brian

[Snake42]

1000$ seems to be the max most big banks want to deal with around here. I can get smaller amounts out of smaller banks sometimes.

Coin lock bags are the only way to go to return zincs. Even then it can be hard though.

[Corsair]

1000$ seems to be the max most big banks want to deal with around here. I can get smaller amounts out of smaller banks sometimes.

Coin lock bags are the only way to go to return zincs. Even then it can be hard though.

I strongly disagree with this statement. While coin lock bags may make the process of returning zinc more streamlined, it requires much more of a capital investment. I find that it is much cheaper (much, much, much cheaper) to sort $75 at one time, knowing that my average copper percents make my dumps very close to $55 or $56 dollars. Since I do two per bank, it usually hits right at $110. Once this is established, it's not hard to say to tellers, "Is there any way that I could have these deposited into my account after you are done sorting?" I have this set up going at two banks. I walk in, hand them two bags, a deposit slip, take my old bags and old receipt, and walk out.

I wouldn't jump in with trying to do $1000 in dumps a week. Start off small, open accounts, and ask what the absolute maximum is you can bring in. Ask what day would be most convenient. Ask what temperature they would like the coins. Seriously, bend over backwards to make it as painless on the bank as possible.

Once you have that going, start to crank it up and see if you get any resistance. It never hurts to ask.

The last thing I would want to do is fork over my FRNs for a coin counter when I can get by without one.