Copper Pennies in the spotlight! *UPDATE again*

[slvrbck]

Yeah, did I miss the boat on the January 2012 announcement? If there is any truth to that statement, that is a HUGE deal IMO.

[henrysmedford]

Yeah, did I miss the boat on the January 2012 announcement? If there is any truth to that statement, that is a HUGE deal IMO.

From http://www.coinnews.net/2010/07/23/us-coin-composition-debate-returns-with-high-penny-and-nickel-costs/

That legislation eventually passed in the House and would have changed the metallic composition of the penny and 5-cent nickel to a less expensive copper-colored steel. The Senate never took the measure up.

It look like it did not pass.

[DirtyFingers]

I've been hand sorting and hoarding on a small scale for a long, long time and I've always wondered what it would take, short of a change in composition and a lift of the melt ban, to get the copper cent market off the ground and increase liquidity. This tv time could be the start of it. It's good, for obvious reasons, but at the same time it could and probably will increase competition and maybe even make it harder to find bags and boxes because of bank restrictions or maybe even government restrictions on hoarding, which I doubt will happen. I think the government already knows there is quite a bit of hoarding going on and has been for some time. But I think we all know that this underground market we've created can't stay that way forever. I'm trying to find positives out of this but we're going to have to take the bad also.

I got into copper cent hoarding with the plan of not putting a timetable on making a profit. I still look at my base metal stash the same way I look at my PM stash in that it is primarily a preservation of wealth and if I profit from it on occasion, so much the better. There is some liquidity in my area. About 6-8 months ago my favorite coin shop guy told me he knew of a local who was paying 2xface for copper cents. Personally, I want more than that if I can get it and if alittle tv is what it takes to get it started....

DF

[Market Harmony]

This is a great step forward in developing a vibrant market for the copper penny. Highroller is working hard for us all. Trust me, there are still PLENTY of copper cents in circulation:

http://marketharmony.net/uploads/pennie ... lation.pdf

I need updated mintages for 2010 and estimated 2011 mintages (per mint)

I foresee a day when HSN or QVC have bags of copper pennies, neatly packaged in increments of pounds, selling for well above melt value.

[Copper Catcher]

We are still in the public comment stage and the report will not be out to the end of 2012 but rest assured the make up of the metal content in the penny and nickel will change soon...

http://www.coinnews.net/2011/03/11/us-m ... rnization/

[fasteddy]

I am looking forward to maybe getting a glimpse at Adam's operation. And also opening the eyes of potential purchasers.

[highroller4321]

VERY COOL

So who are our other two members? Come on you two spill the beans.

I will let them reveal themselves only if they wish to do so.

It was NOT HCBTT though. Remember he is like Santa Clause and the easter bunny

[highroller4321]

8-) To my knowledge January 2012 the nickel composition will be changing along with the penny to worthless steel Highroller, could you post another photo of one of your 100,000.00 face value eBay auctions so those on this forum can see why it is in your best interest for the market to increase as quickly as possible? Have you cleared this ryedale commercial with Andy? Last time I talked to him he was working full time and out straight with his business. Yes folks it is true the more we broadcast this opportunity the more in tune the public and banking institutions will be and access may be restricted due to demand.I already see it happening. But this only affects the smaller or new sorter. Once again kudos to the mighty Highroller...........................

Its in the best interest to EVERYONE who sorts, hoards, and sells copper pennies for the market to be viable. We all want prices to be closer to melt value and be able to have a very liquid market. In order to do that we have to make the market bigger.


Free advertising to 6-8 MILLION people....He didn't mind lol

[highroller4321]

So will this little snipit focus primarily on cents? Will there be any discussion of nickels? Just curious but I feel like it will not take much more public knowledge to force a change in nickel composition.

I myself mentioned nickels breifly and I think the other 2 members might have as well but copper cents is what its mainly about.

[Cu Penny Hoarder]

I have no idea why most people here are so happy about this. Telling the world what you are doing/planning is bad... showing your face on tv is worse. It the same as preppers who appear on these doomsday tv shows... they show their faces and announce where they live. When the SHTF, they will become an instant target.

These warnings apply to Facebook as well. Social media my @ss... stay away from it. It's nothing more than a government database designed to spy on you.

George Orwell may have been a few years early, but he basically nailed all this.

[hobo finds]

Untill they stop minting cents not many will care. Look at how many people throw away pennies. Most people will not stop to pick one up off the ground even if it is copper and "heads up for good luck"!

[cesariojpn]

elling the world what you are doing/planning is bad... showing your face on tv is worse.

That reminds me.....Darrell on Storage Wars said something odd in one episode....

http://community.aetv.com/service/displ ... 943&ac=new

[crazypennyguy]

Hi everyone,


A couple weeks ago I had an ABC corespondandt from the TV show "Nightline" come out and interview me. They videotaped me sorting, the process, and talked with me about why a coppy penny is worth what it is and why people should save/invest in them. They also interviewed 2 other forum members, 1 being a hand sorter and the other being a ryedale sorter. They say on average 6-8 MILLION people watch every show so we should get a lot more attention in the penny world.

They filimed the handsorter logging onto Realcent and making a post so realcent should also be getting some new activity.

I am not sure what all they are going to use for the short clips so time will tell but I do feel pretty comforatable with it. Overall I am told it should be a 7-8 minute clip. I won't know for sure untill I see it though.

The air date is this friday! Friday, Nov. 4 2011 on your local ABC channel. I am told it airs at 11:35pm Pacific time so adjust accordingly to where you are located.

I know not everyone is going to like that it that copper pennies are getting a lot more attention but thats really what needs to happen to get the market fully developed. In reality the more people involved bring the prices up which helps everyone...even if you are hoarding and not selling right now.

HR

Enjoy your 15 minutes of fame! Even if copper-sorting's been slated as an odd-news story, the publicity should help build the market up. Most people who try to sort themselves will back away when they discover how much work it is. They may buy, though...

[Copper Catcher]

VERY COOL

So who are our other two members? Come on you two spill the beans.

I will let them reveal themselves only if they wish to do so.

It was NOT HCBTT though. Remember he is like Santa Clause and the easter bunny

HCBTT does not exist.......

[Copper Catcher]

This Friday is not Nov 4th.....is it Nov 4th?

[Rodebaugh]

Rare photo of HCBBT on Silver

[dpwozney]

To my knowledge January 2012 the nickel composition will be changing along with the penny to worthless steel

This August 25, 2011 article seems to suggest that changes might not be made before 2013:

... It will be in 2013 that Peterson will have to go back to Congress with his evaluation of the present state of American circulating coinage and what his recommendations are to fix the problems.

And there are problems.

These include a copper-coated zinc cent that costs more to produce than is recovered when the Mint is paid 1 cent by the Federal Reserve.

The 75 percent copper, 25 percent nickel coin not only costs more to produce than can be covered by its 5-cent face value, but its metallic value at 5.9 cents creates a risk of mass melting that is only countered by a Treasury regulation that makes it illegal to melt or export this denomination as well as cents. ...

Personally, I think that cupronickel alloy serves fairly well as, and is a good choice for, a monetary standard.

[exbingoaddict]

I foresee a day when HSN or QVC have bags of copper pennies, neatly packaged in increments of pounds, selling for well above melt value.

Agreed MH. Copper sorting is in its infancy currently. Sometimes I wonder if the silver sorters of yesteryear felt the same as the copper sorters do now.

[Hawkeye]

That's cool. Maybe the few people who know I sort won't think I'm quite as crazy. Well, they probably still will, but it's still cool.

[newton7]

It sounds great on the surface but I worry about the back lash at my banks. I already get the look at my dump banks and have spent a lot of time and effort building up my supply banks to give me stuff. Overnight it could turn into no more pennies. I guess we should stock up before the story airs. But then you have to ask yourself, "How may bank tellers bother to watch Nightline?"

Keep stacking guys!

[highroller4321]

This Friday is not Nov 4th.....is it Nov 4th?

Yes, its Nov 4th. It was suppose to be this friday but got bumped back a week.

[knibloe]

[quote="crazypennyguyEnjoy your 15 minutes of fame! Even if copper-sorting's been slated as an odd-news story, the publicity should help build the market up. Most people who try to sort themselves will back away when they discover how much work it is. They may buy, though...[/quote]

We have seen this already. This is a hobby/business with very easy entry and exit. However, what happens in between the entry and exit is anything but easy.

The story may prompt people to start sorting. Then they will tire of it, next they will dump their cents here at 1.3x or at the bank for face.

I do believe that the article will prompt people to buy.

[knibloe]

We should track the number of guests that come to the sight after the show. This will show us how much interest there really was. Also, might be a cool contest to see how big of a membership gain we actualy get.

We should find some way to track how people find the sight, how long they lurk before joining and what actually prompts them to join.

[frugi]

I tell everyone about what I do, I am always looking for connections, and friends with my same interests. I see it as helping my fellow human. I hope hoarding copper cents catches on and everyone starts doing it. I am comfortable telling anyone I am sitting on over 2 million US cents, and over 1 million Canadian cents, and over 2000 lbs. of Canadian nickels. If you want to come spend a month trying to haul my stash out of my basement without me catching on, I welcome your visits. I regularly share my quantities of storage with my friends and even total strangers. If shtf, I could use the target practice.

[Crescendo]

This should be quite interesting. Congratulations to Portland Mint for the tv appearance! And to the honorable mention to Ryedale and sorters.

My view on this is that if this had been aired when copper was trading at $4.50/lb, you would see a huge increase in sellers and buyers. With current uncertainties, I doubt you'll see an immediate huge spike. I do, however, think you'll see bank fees start to rise across the entire industry (I've seen this locally at quite a few banks shutting down penny operations of people I know who were doing this on small scales). Won't say who or where to protect privacy, but fact is fact and unfortunately, banks are greedy creatures. But there are more banks looking to recoup fees (for various reasons) and they're not "nickel and diming" anymore, they're "pennying".

My take on this has to do with the regulation manipulation on large trader swaps on commodities being deregulated known as "temporary relief" by the CFTC which was conveniently followed by the four day crash in gold/silver/copper. With that huge hit in addition to previous hits, I believe copper will be seen as not very stable in the eyes of the general public. It takes a lot of research to truly understand copper. Copper is often used to speculate market growth and declines. People like to think they can take five minutes to properly understand an investment. If they spend an hour or two, they think they're experts. But back to the point, the big bank powerhouses in this country (JP Morgan Chase, Goldman Sachs, Citibank, and Bank of America) are doing something serious commodities manipulation. Did you see the regulation changes? This was back in September.

Frugi -- it's funny you say that because I get asked "well what if there is a fire? you'll lose all those pennies!" to which I reply: if my house burns down, the only thing that will be left and intact are the pennies!!"

I'm also curious as to seeing what Jarden Zincs is up to regarding the talks above with possible metal composition changes on the penny. I bet they won't let that happen without a fight!