NIGHTLINE PENNY STORY AIRING TONIGHT!!!

[highroller4321]

Hi everyone,

Just got word the penny story is going to air tonight! Nightline ABC!

More info found here.

viewtopic.php?f=7&t=9074&p=99765#p99765

Adam

[inflationhawk]

Great news, I'll be watching!

[dakota1955]

I will also be watching.

[s3p2]

Well, so much for finding anymore in circulation after this airs.

[appjoe]

I'll also be watching. It will be interesting to see if the copper percentage goes down while searching or if the Ebay prices will change.
I will still pick up my boxes and hand sort as always.

[hobo finds]

I'll also be watching. It will be interesting to see if the copper percentage goes down while searching or if the Ebay prices will change.
I will still pick up my boxes and hand sort as always.

Someone should throw some up on Ebay and see...

[Rodebaugh]

HOLY CRAP!!!! I AM SO PUMPED!!!

[tinhorn]

I've got some on Ebay, with auctions running for the next several days. Sales have been dismal--I'll let ya know if things change. I have to hit the sack early tonight, so I'll have to find the segment on the intertubes.

[Rodebaugh]

Time to get the word out to any members that are not online tonight. Make some calls, shoot some emails, I will drop a post over on BS and call a few folks myself.

[henrysmedford]

From--http://abcnews.go.com/Business/laws-change-penny-hoarders-cash-thousands-dollars/story?id=15076522#.TtlSft3NLdw
If Laws Change, 'Penny Hoarders' Could Cash in on Thousands of Dollars

Inside a shed next to his house in Medford, Ore., Joe Henry has orange tubs filled with an astonishing 200,000 pennies. But Henry is only interested in those that are dated from 1982 and earlier because those are the coins that were made of copper. (ABC News)


If Laws Change, 'Penny Hoarders' Could Cash in on Thousands of Dollars
By NEAL KARLINSKY and MARY-ROSE ABRAHAM
Dec. 2, 2011—
go.com
Joe Henry is on a first name basis with bank tellers across his hometown of Medford, Ore., scouring 15 banks a week with one thing on his mind: pennies.

Henry is often seen toting around bags of pennies, some he buys, others he changes back in for cash, which seems a little strange at first. He's not a collector, he is what's known as a "penny hoarder" and he is not alone.

Inside a shed next to his house, Henry has orange tubs filled with 200,000 pennies, and he spends hours sorting through roll after roll of the coins. But it's not just any and all pennies, Henry is only interested in those that are dated from 1982 and earlier because those are the coins made with 95 percent copper. A copper penny is worth more than other pennies -- now mostly made of zinc -- currently priced at $0.024.

Watch the full story on "Nightline" tonight at 11:35 p.m. ET

"The copper has such a different sound than zinc pennies do," Henry said. "Real money has that definite sound of money and if you listen to a modern zinc penny, they don't sound the same, they sound sort of tinny."

Henry even has a $500 home counting machine to separate out the copper ones.

Much like the resurging obsession with gold, the price of copper has skyrocketed in recent years and the rising price has led to some unusual sprees. Thieves have been exploiting the value hidden in obscure items, stripping copper wiring from phone and utility cables, from construction sites, even from a 122-year-old copper bell that was stolen from a San Francisco cathedral.

In San Diego, so much copper wiring has been stolen from eight different city parks, that soccer teams can't practice because the field lights stopped working.

But penny hoarders aren't thieves, just opportunists. There are a slew of listing for pennies in bulk on eBay, but what's amazing is they include listings for $10 in pennies being sold for $20 dollars. If you think only a sucker would pay two cents for a penny, you're missing out on a business opportunity that Adam Youngs, who runs a massive penny sorting operation in Portland, Ore., has perfected.

He explained how he can sell a $100 worth of pennies for $192, when shipping and packaging are included.

Youngs' operation, the Portland Mint, is locked inside a secure facility that deals with armored cars -- selling and shipping to clients in every state -- and works in pennies by the ton. He said he has clients with deep pockets who are storing huge sacks of pennies and he has inquires from hedge funds.

"Just in face value alone, about $270,000 dollars [in pennies] right now," Youngs said. "That is just the face value, that is not even the copper value. The copper value is about three times that much."

Clients use Youngs because he separates copper pennies from the chump change -- the newer pennies that are only worth $0.01.

But in the weird world of penny hoarding, getting to the copper is a very big problem. It's illegal to melt pennies an there is an obscure federal law that makes it illegal to transport more than $5 in pennies out of the country.

Penny hoarders know this of course, but they also know something else. In what could be the biggest legislation to hit the U.S. Mint in 50 years, officials are now looking at the composition of pennies and nickels and considering an overhaul. If the laws change and the mint decides to abolish the penny, people would be free to melt them down for the copper.

A penny saved, many times over, could be a whole lot earned.

[Rodebaugh]

[s3p2]

20% - 15% - 10% - 5% - None.... this will bring more people into hoarding but will not increase the price of copper. At the end of the day they are worth the price of copper ... no more, no less. At least today they are asy to find. Maybe not tomorrow. Dimes are hard to find but still only sell for silver price.

[Chief]

Sweet!! I can't wait to watch.

[RichardPenny43]

DVR is Set!

[twentybux]

This is going to be sweet. Maybe next is a reality show for us, "Penny Hoarders". Walk around with HCBTT for one day. Show the Ryedales at work, etc.

[agmoose]

This is making me go to the bank on Sat now to pick up a couple boxes and I'll probably increase my sorting rate. Storage space isn't an issue, just time....I need 32 hour days..........lol.

[68Camaro]

DVR set!

[s3p2]

This is making me go to the bank on Sat now to pick up a couple boxes and I'll probably increase my sorting rate. Storage space isn't an issue, just time....I need 32 hour days..........lol.

Me too. May have to use the christmas money. Jk.. my wife will kill me.

[Nickelless]

Major congrats, Adam! I just saw the link to the show on Coinflation. I can't wait to see the program!

[NHsorter]

I will be tuning in for sure! Pretty darn excited that it is finally airing.

[hobo finds]

http://abcnews.go.com/Business/laws-cha ... tlSft3NLdw

check out the 11 comments so far

[scrapper2010]

Will be tuning in tonight, thanks.

[.02FYI]

Please post link for this after it airs. Thanks .02fyi

[NHsorter]

http://abcnews.go.com/Business/laws-change-penny-hoarders-cash-thousands-dollars/story?id=15076522#.TtlSft3NLdw

check out the 11 comments so far

Yeah, there is gonna be a lot of "losers with nothing better to do" type of comments on there, but the funny thing is that taking the time to bust on people in a news article comment section indicates that they themselves are losers with nothing better to do. And furthermore, they are not getting anything out of their time spent commenting, while we are gaining physical assets. I am too busy sorting to waste my time signing up for an account to leave a comment on there

[scrapper2010]

http://abcnews.go.com/Business/laws-change-penny-hoarders-cash-thousands-dollars/story?id=15076522#.TtlSft3NLdw

check out the 11 comments so far

Yeah, there is gonna be a lot of "losers with nothing better to do" type of comments on there, but the funny thing is that taking the time to bust on people in a news article comment section indicates that they themselves are losers with nothing better to do. And furthermore, they are not getting anything out of their time spent commenting, while we are gaining physical assets. I am too busy sorting to waste my time signing up for an account to leave a comment on there

Nice post, so true.