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If you could buy $30,000 of copper pennies face value per month at $140 per $100 including shipping, but the catch is you had to buy all $30,000 each month and take freight shipping by a truck, would you do it (and why)?

Absolutely not. For that volume you should get a much better rate.

Curious, why's that? And is there a number you'd buy at? Aside from the obvious hobby face value number.

Firstly, I wouldn't be interested in putting over half a million bucks a year into copper.
Secondly, I wouldn't begin to know where to store the stuff.
Lastly, and as I said above, for that volume you should be getting a much better rate.

The big Brinks order was 1.013x, so $101.30 per $100 face.

I don't know this for sure, but I'm betting that if you told Adam you'd pay 1.4x for 30k/month he'd give you free storage for a year or so on top of the coins.

Maybe I would take the deal if they would pay for delivery to a smelter in Mexico and I could negotiate a favorable contract with said smelter

Yep If I could , I would. However, I would rather pickup the pennies in my dump truck instead of having them delivered.

natsb88 wrote:The big Brinks order was 1.013x, so $101.30 per $100 face.

Plus the brinks sorting fee plus shipping.

barrytrot wrote:I don't know this for sure, but I'm betting that if you told Adam you'd pay 1.4x for 30k/month he'd give you free storage for a year or so on top of the coins.

Yup I could do that.

Nickelmeister wrote:Absolutely not. For that volume you should get a much better rate.

I'm not too sure... at $140 per $100 including shipping that sounds about right. If it was local pickup that would be another thing. After all once you factor in the return fees to the vault, labor etc. That is not a bad deal.

30k in Pennies each month? Gotta say NOPE to that one. A person would be better of stacking that kind of money in gold or silver....but also keep a modest amount in the pennies as well. You would need a warehouse to store that kind of volume.

SilverDragon72 wrote:30k in Pennies each month? Gotta say NOPE to that one. A person would be better of stacking that kind of money in gold or silver....but also keep a modest amount in the pennies as well. You would need a warehouse to store that kind of volume.

What's the reason for being better than gold or silver

I meant why are g and s better?

My question is, who is sorting $120,000 in pennies a month? I don't know if you read the link to the guys that were doing that kind if volume. It took lots of phone calls, connections, and some very expensive equipment.

To answer the original question. No

There are a few guys that could supply large amounts that would charge less. If there were a customer buying at that volume, they could get a better price shopping around

I was going to ask that myself. And regarding storage space people tend to over-think that.

The problem isn't size anyway, it's the ability for the floor to handle the weight. Which can be done as well, but handling the weight is much more difficult than storage.

http://www.kokogiak.com/megapenny/seven.asp

An example of 10 million cents, i.e. one of these every 3.33 months.

Even at 100 million coins (33.3 month or 2.78 years) the size would definitely fit in my garage:

http://www.kokogiak.com/megapenny/eight.asp

I'm not 100% certain about the height, but I know that my 3-car garage could definitely fit that even with the top section of cents moved to the side.

slickeast wrote:There are a few guys that could supply large amounts that would charge less. If there were a customer buying at that volume, they could get a better price shopping around

I know of several sources that can handle and supply that volume of copper pennies. I suppose it is like you said, what is the "better price" shopping around that turns a would-be buyer into an actual buyer.

Of course storage is an issue, however, I am making the assumption there are people like myself who have open space available that could handle that size and weight without additional cost. I would not want to pay someone else to store it as, in my opinion, part of the point is to physical hold your own money, not have someone else do it (ie: function just like a bank).

The feedback is really interesting and much appreciated so far! I'd love to hear more.

In fact, this has me thinking as to what would be the ideal realistic price that would be that better price. I guess I am also saying what price would be the "buy all day long" price as much as possible. Cash and storage available by buyer of course!

barrytrot wrote:I was going to ask that myself. And regarding storage space people tend to over-think that.

The problem isn't size anyway, it's the ability for the floor to handle the weight. Which can be done as well, but handling the weight is much more difficult than storage.

http://www.kokogiak.com/megapenny/seven.asp

An example of 10 million cents, i.e. one of these every 3.33 months.

Meh. That 31.3 ton stack is only exerting ~12 psi on the floor. Standard concrete is rated for 3000-4000 psi. Even a forklift picking up 2 tons at a time is probably exerting <500 psi. A standard garage floor should handle it. It may settle and crack if the base wasn't compacted enough, but it's not going to blow out the concrete or cause the floor to crumble or anything like that.

natsb88 wrote:

barrytrot wrote:I was going to ask that myself. And regarding storage space people tend to over-think that.

The problem isn't size anyway, it's the ability for the floor to handle the weight. Which can be done as well, but handling the weight is much more difficult than storage.

http://www.kokogiak.com/megapenny/seven.asp

An example of 10 million cents, i.e. one of these every 3.33 months.

Meh. That 31.3 ton stack is only exerting ~12 psi on the floor. Standard concrete is rated for 3000-4000 psi. Even a forklift picking up 2 tons at a time is probably exerting <500 psi. A standard garage floor should handle it. It may settle and crack if the base wasn't compacted enough, but it's not going to blow out the concrete or cause the floor to crumble or anything like that.

Ok, then copper definitely beats out the worthless gold/silver

barrytrot wrote:Even at 100 million coins (33.3 month or 2.78 years) the size would definitely fit in my garage:

http://www.kokogiak.com/megapenny/eight.asp

I'm not 100% certain about the height, but I know that my 3-car garage could definitely fit that even with the top section of cents moved to the side.

You could for sure line the garage with about 30,000. Remember this stacker?

http://forums.collectors.com/messagevie ... TARTPAGE=1

natsb88 wrote:

barrytrot wrote:I was going to ask that myself. And regarding storage space people tend to over-think that.

The problem isn't size anyway, it's the ability for the floor to handle the weight. Which can be done as well, but handling the weight is much more difficult than storage.

http://www.kokogiak.com/megapenny/seven.asp

An example of 10 million cents, i.e. one of these every 3.33 months.

Meh. That 31.3 ton stack is only exerting ~12 psi on the floor. Standard concrete is rated for 3000-4000 psi. Even a forklift picking up 2 tons at a time is probably exerting <500 psi. A standard garage floor should handle it. It may settle and crack if the base wasn't compacted enough, but it's not going to blow out the concrete or cause the floor to crumble or anything like that.

Yeah. I stack my tons 6 high and close together...concrete hasn't budged yet! *knock on wood* lol

Crescendo wrote:

slickeast wrote:There are a few guys that could supply large amounts that would charge less. If there were a customer buying at that volume, they could get a better price shopping around

I know of several sources that can handle and supply that volume of copper pennies. I suppose it is like you said, what is the "better price" shopping around that turns a would-be buyer into an actual buyer.

Of course storage is an issue, however, I am making the assumption there are people like myself who have open space available that could handle that size and weight without additional cost. I would not want to pay someone else to store it as, in my opinion, part of the point is to physical hold your own money, not have someone else do it (ie: function just like a bank).

The feedback is really interesting and much appreciated so far! I'd love to hear more.

In fact, this has me thinking as to what would be the ideal realistic price that would be that better price. I guess I am also saying what price would be the "buy all day long" price as much as possible. Cash and storage available by buyer of course!

If you are serious about it then email or PM me.

Crescendo wrote:If you could buy $30,000 of copper pennies face value per month at $140 per $100 including shipping, but the catch is you had to buy all $30,000 each month and take freight shipping by a truck, would you do it (and why)?

Why are you asking this Question? Do you have $30,000 to spend on pennys every month?
just curious

If I had 30K to spend on coins every month (to keep) I wouldn't be on the penny forum......I would be on the quarter forum.