NE Penny Indiana Hoard..~ 1.5 Mill now (Coppers Gone)

[EthanA]

Since there are those asking some questions, I want to add this. I never totaled them all up but I just did from the information I was given.




There are over a million pennies, what I have to determine is just what the grand total is. Above is a list but the 'coppers' amount includes zinc's but those are BU rolls? I think I saw buckets of coppers (only for copper value) but I have to ask as I believe those we not added to the spreadsheet.

Anyhow...above one can easily see face value and then up to 6 cents, just on number alone...........it gives a rough idea I would think.

[EthanA]

PS to the MODS, thanks for the boost in PM's.........+1

[EthanA]

Ok - I am getting some feedback and I guess I need to clarify some things..

I am not a penny collector but I am a coin collector so I have at least a basic understanding of Numismatics. I want folks to understand that this 'lot' so to speak is not a copper sale.

I am sure he has around (20) 5 gallon buckets full, of what one would consider copper sales. I am almost sure this is not in the list I sent a few of y'all.

I will not even discuss the nickels yet.

I want to concentrate on the pennies and to be specific, lets talk about the wheats only. These are all sorted and either rolled or tubed. He only stored them in two grades (a) less than Fine and (b) fine or greater. Toward the end of the list yo can bet those rolls are much better than fine condition. He had none listed AU, which surprised me as a Kennedy Collector. Still there are over 950,000 wheat pennies. At 0.03 a piece you can calculate it up, but there is 0.02 worth of copper in each cent.. As a buyer, I would want to know the condition of the early years as that is where the monies will be. I will have to do a spot check on some of the rolls I guess. I know where he would stick a 1918 in EF condition and that would be in F or better rolls. I just can not tell you yet what those rolls look like inside. I will find out.

I also want to find out just how many 5 gallon buckets of pre 83 coppers he has. It would seem that most here are more interested in those than the numismatic coins and that is ok. I will get that information also. I am sure these will be less than the 0.02 in copper value, just to haul them anyway. Someone told me that 1.5 cents is a good guesstimate for coppers.

Also just so everyone is clear, he did have an offer from a dealer. I will say this, we went over that offer and that is why he asked for my help as this offer was strange indeed.

Maybe this goes nowhere, maybe it does. I was just thinking that a penny collector,dealer, seller would be drooling over this. Maybe I was wrong......

[EthanA]

Was looking into the copper angle here....interesting.

$250 Face - I think that is a 5 gallon bucket.....or close..



So that is indeed interesting with some of the 'inquiries'

[TheJonasCollegeFund]

I'm ready for a road trip to investigate this ENORMOUS hoard! Would love to check it out in person!

[henrysmedford]

You might try---http://www.thepennylady.com/

[EthanA]

I am thinking there are about 4 of you that want to do this. I can see no issue but I want to make sure you know just what is there...........

[EthanA]

You might try---http://www.thepennylady.com/

Sent her an email.........Thanks for the link..


She is not interested....oh Well..worth a shot

[EthanA]

Updated the full list - did not get to talk with him, but he did email me..

[Catfish4u]

What large city is the closest? Travel distance would certainly be a consideration for some of us.

[EthanA]

North East Indiana...

[Recyclersteve]

I calculate that if 145 copper pennies are in a pound, then 7000# would equal 1,015,000 pennies (approx.). So for you potential buyers out there, this looks like it could be more like 14,000 lbs. instead of 7,000#. Be sure you have the proper vehicle to haul them away.

Excuse me while I call Union Pacific, Burlington Northern and CSX for rail quotes.

[EthanA]

Yeah we were trying to calculate it and came up with 7k, then as I dig further and we get near double the 14k pounds and it makes sense.... Heck if all copper then worth ~$27K but not all copper, most but not all. Again there is numismatic value to a good portion of this. I started this for him to move the wheats, but it would seem that more are interested in the copper. I guess lots of Dr. Copper watchers. Still it is one nice hoard of pennies. I know he would rather move them all at once...

[Catfish4u]

Updated the full list - did not get to talk with him, but he did email me..

One possible way to sell these would be what I see at many auctions. That would be to auction off each lot and then 'a total bid for all'. For example have four lots of Indians, Wheats, Coppers, Coppers/Zincs. Accept bids for each of the 'four lots' and then an overall bid for 'everything'. Then accept whatever is favorable for your friend.

[EthanA]

Ok if he were to agree to that, I assume that auction would be here. There would have to be a minimum bid. I think at this point, at least I hope, someone will spot this, contact him, and both parties work a deal.

[EthanA]

Just did up the Indians, out of curiosity... What is with some of these dates? How much for a 'Good - very Good' Indian? I am hearing 25 cents or there about, so the Blue Book has 80 cents...it is off by over half then.

YEAR A/C BB Good F+
1857 1 $13.00 $13.00
1858 3 $13.00 $39.00
1859 5 $7.00 $35.00
1860 15 $7.00 $90.00
1861 13 $11.00 $143.00
1862 7 $5.50 $42.00
1863 6 $5.50 $33.00
1864 CN 5 $8.00 $40.00
1864 BRONZ 10 $5.00 $50.00
1865 4 $4.00 $16.00
1866 1 $22.00 $22.00
1867 0 $22.00 $-
1868 3 $22.00 $66.00
1869 3 $35.00 $105.00
1870 0 $28.00 $-
1871 0 $35.00 $-
1872 0 $45.00 $-
1873 4 $11.00 $44.00
1874 0 $9.00 $-
1875 5 $10.00 $50.00
1876 1 $15.00 $15.00
1877 0 $500.00 $-
1878 0 $14.00 $-
1879 7 $4.00 $28.00
1880 31 $1.75 $54.25
1881 25 $1.75 $43.75
1882 25 $1.75 $43.75
1883 49 $1.75 $85.75
1884 27 $2.25 $60.75
1885 6 $3.00 $18.00
1886 21 $1.75 $36.75
1887 61 $1.25 $76.25
1888 66 $0.85 $56.10
1889 96 $0.85 $81.60
1890 83 $0.85 $70.55
1891 88 $0.85 $74.80
1892 63 $0.85 $53.55
1893 93 $0.85 $79.05
1894 43 $2.00 $86.00
1895 89 $0.85 $75.65
1896 85 $0.85 $72.25
1897 124 $0.85 $105.40
1898 47 $0.85 $39.95
1899 92 $0.85 $78.20
1900 134 $0.80 $107.20
1901 179 $0.80 $143.20
1902 224 $0.80 $179.20
1903 217 $0.80 $173.60
1904 86 $0.80 $68.80
1905 132 $0.80 $105.60
1906 203 $0.80 $162.40
1907 270 $0.80 $216.00
1908 64 $0.80 $51.20
1908-S 0 $0.80 $-
1909 36 $0.80 $28.80
1909-S 0 $0.80 $-





I am going to have a chat with him, I think he needs to split it up, these Indians need to go in one lot.......

[TheJonasCollegeFund]

North East Indiana...

I am a straight shot west in Northwest Indiana. Takes about 3 hours to hit the Ohio border from here.

[TheJonasCollegeFund]

Where's Adam at? He buys LARGE amounts of copper and has them shipped to Portland!

[EthanA]

A Copper only bid will not get it.......there are numismatic values here...

[Recyclersteve]

Where's Adam at? He buys LARGE amounts of copper and has them shipped to Portland!

I doubt Adam Youngs would be interested. He seems to be interested in copper, but not collector coins. Also, he has already paid for high speed sorting equipment, so why should he pay someone else a premium for copper? Therefore, I'd be a bit surprised if he'd be a serious buyer for even the copper coins here.

[TheJonasCollegeFund]

Where's Adam at? He buys LARGE amounts of copper and has them shipped to Portland!

I doubt Adam Youngs would be interested. He seems to be interested in copper, but not collector coins. Also, he has already paid for high speed sorting equipment, so why should he pay someone else a premium for copper? Therefore, I'd be a bit surprised if he'd be a serious buyer for even the copper coins here.

Adam IS into making money. If he feels he can make money on a deal, he'll jump on it!

I bet he is waiting on more info before he chimes in. He has the money, resources, and transportation means to get the job done.

[Thogey]

Adam could beam the entire lot into his bedroom if he wanted to.

[johnbrickner]

Absolutely awsome hoard. I remember a while back, HA.com had some coinage from an Omaha Bank that hoarded. Slabbed coins were labeled "Omaha Bank Hoard". I think this Hoard deserves a similar designation. I say let's give it some history by giving it a name.

[brian0918]

The Northeast Indiana OCD Hoard?

[willy13]

Was he into die varieties? or RPM's?

I wish I had the cash to consider this hoard. Actually there may be few people with the cash to buy this hoard in 1 lot. I think you will need to divide it up. I do understand that finding 1 buyer would be ideal, but that might take some looking to accomplish.