Will Copper Hoarding pick-up with PM Ri$e?

[joeinnj]

What does the Board think about copper hoarding picking up in popularity with the sharp increase in PM prices?
I'm a Silver stacker first and a copper hoarder second (Pre 82 Lincolns) but with the rise in Silver costs I've refocused on copper.
Likely there's many like myself shifting to copper as PM prices spike or the masses will always mistakenly chase what's hot?
Anyway, new to your board > Lovin It as there's tons of good info in here.
Thanks

[SilverDragon72]

Welcome to the Madness! Pour yourself a drink a stay awhile

I'm hoarding copper...no matter what the other PM's do. I believe it's good to have a little of everything, just to cover your bases

But I certainly do love the shiny!

[joeinnj]

Thanks for the welcoming.......
The drinks been poured n been rolling copper cents which go into the $25 bankers boxes which then go into storage.
Up to $800 face in copper cents all nicely bricked up now...
It's relaxing rolling em while you got a game on in the back ground...
Rather be wearing the cotton gloves while adding to the silver stack but like said sitting tight to see where PMs go...
Don't at all mind wearing the disposible latex gloves while pilimg the copper though...
Seems there's plenty of like-minds as I too believe in it all (Nickel, US Nickels, titanium, even some zinc)
Like my poor mailman knows... If it's metal I HOARD IT...LOL

[beauanderos]

Thanks for the welcoming.......
The drinks been poured n been rolling copper cents which go into the $25 bankers boxes which then go into storage.
Up to $800 face in copper cents all nicely bricked up now...
It's relaxing rolling em while you got a game on in the back ground...
Rather be wearing the cotton gloves while adding to the silver stack but like said sitting tight to see where PMs go...
Don't at all mind wearing the disposible latex gloves while pilimg the copper though...
Seems there's plenty of like-minds as I too believe in it all (Nickel, US Nickels, titanium, even some zinc)
Like my poor mailman knows... If it's metal I HOARD IT...LOL

don't forget to enter all the contests we have going, some are drawing close to their deadlines ... and dance over to the intro section to say hi to every1

[penny pretty]

Welcome! I dont think copper hoarding is going to spike unless.. A HUGE price increase, or the melt ban going away. I still get blank looks from tellers I have been to before when I ask for all the pennies they have. cool, you hoard for the future, not tomorrow.best of luck.

[CLINT-THE-GREAT]

I am currently in the market for a sorting machine.....but my concern is that the banks will be hesitant about selling me boxes of pennies. I used to get the run-around all the time about wanting to clean them out of Half-Dollars....anyone ever get reluctant tellers?

-The Great

[everything]

Quite a few threads have been started on that very subject Great. The bigger time sorters usually have a couple of accounts with several banks. These banks sell bags of pennies right out of the sorting machine, easier to break open and feed into the machine than rolls/boxes. That method spells out the very important don't ever dump pennies where you get pennies rule. They either go to the bank for the regular pick up day before the money truck takes them away for rolling and boxing, or the bank calls them to tell them to come and get them. Trick is to talk with the head teller about it, most banks are pretty cool about hooking you up with pennies. Talk to them first, then set up an account with them. Some will, some won't, good luck.

[scyther]

I am currently in the market for a sorting machine.....but my concern is that the banks will be hesitant about selling me boxes of pennies. I used to get the run-around all the time about wanting to clean them out of Half-Dollars....anyone ever get reluctant tellers?

-The Great

I only have experience with one bank, but I can say they greatly prefer to sell bags rather than boxes. I used to get $25-$50 every week or two in boxes and they would always be somewhat reluctant and eventually started asking me if it was for a business, but now I get $100 a week and they don't care.

[CLINT-THE-GREAT]

Quite a few threads have been started on that very subject Great. The bigger time sorters usually have a couple of accounts with several banks. These banks sell bags of pennies right out of the sorting machine, easier to break open and feed into the machine than rolls/boxes. That method spells out the very important don't ever dump pennies where you get pennies rule. They either go to the bank for the regular pick up day before the money truck takes them away for rolling and boxing, or the bank calls them to tell them to come and get them. Trick is to talk with the head teller about it, most banks are pretty cool about hooking you up with pennies. Talk to them first, then set up an account with them. Some will, some won't, good luck.

I have been trying to read as many threads as I can on this forum, but there is SO MUCH info, but I will search for that, Thanks.

I only have experience with one bank, but I can say they greatly prefer to sell bags rather than boxes. I used to get $25-$50 every week or two in boxes and they would always be somewhat reluctant and eventually started asking me if it was for a business, but now I get $100 a week and they don't care.

I will probably Heed both of your suggestions about the Bags...I hadn't thought of that. I did follow the "don't dump where you buy rule" when searching Halves. I first bought all they had, then used them as the dumping grounds. I have ran into a few branches of some banks that will only take coins if they are already pre-rolled!!!! Which I find ludacris!!! Sorry to the OP for jacking your thread.

-The Great

[SilverDragon72]

Quite a few threads have been started on that very subject Great. The bigger time sorters usually have a couple of accounts with several banks. These banks sell bags of pennies right out of the sorting machine, easier to break open and feed into the machine than rolls/boxes. That method spells out the very important don't ever dump pennies where you get pennies rule. They either go to the bank for the regular pick up day before the money truck takes them away for rolling and boxing, or the bank calls them to tell them to come and get them. Trick is to talk with the head teller about it, most banks are pretty cool about hooking you up with pennies. Talk to them first, then set up an account with them. Some will, some won't, good luck.

Simply order them ahead of time. I have no problems when I do this!

[joeinnj]

God Bless those who do the Rodel penny sorting.
Bet it's kinda fun plus you turn a bit of a profit... I just don't have the extra space or time to load and dump at banks etc..
I'm one of those who pay the 50% premium / 1.5 cent per (that's what I've averaged purchasing pre-sorted coppers off The Bay and other auction sights)
I'm up to $800 face of pre-82 coppers now, all rolled and tucked away in penny-bankers-boxes and guessing I SHOULD put the brakes on the hoard at 1000 face yet it is fun watching the stack grow.

I've read conflicting articals on copper future prices... mining is getting tougher prices up in 2013/2014, world (China) economy slowing(?) prices down, emerging markets getting some buying power prices up, blah blah... another wait n see I guess.
The real one of interest is the discontinuation of the penny and at least the composition change for the penny and nickels to likely steel.
Business man Romney gets in bet this happens ... bet melting ban then lifted by next decade.. yet another time will tell though.
Happy sorting / hoarding n Don't forget your nickles too !!

[jldco]

God Bless those who do the Rodel penny sorting.
Bet it's kinda fun plus you turn a bit of a profit... I just don't have the extra space or time to load and dump at banks etc..
I'm one of those who pay the 50% premium / 1.5 cent per (that's what I've averaged purchasing pre-sorted coppers off The Bay and other auction sights)
I'm up to $800 face of pre-82 coppers now, all rolled and tucked away in penny-bankers-boxes and guessing I SHOULD put the brakes on the hoard at 1000 face yet it is fun watching the stack grow.

I've read conflicting articals on copper future prices... mining is getting tougher prices up in 2013/2014, world (China) economy slowing(?) prices down, emerging markets getting some buying power prices up, blah blah... another wait n see I guess.
The real one of interest is the discontinuation of the penny and at least the composition change for the penny and nickels to likely steel.
Business man Romney gets in bet this happens ... bet melting ban then lifted by next decade.. yet another time will tell though.
Happy sorting / hoarding n Don't forget your nickles too !!

I think there is some truth in that people slowed down on copper to catch the valley on silver, I know I took advantage of it. But, the fact of the matter is that copper penny sales always slow down in the summer months as do the other non PM metals, and they come back after Labor Day. I think CTU's are picking back up because copper is a little stronger in price and CTU buyers like to see that, and silver has moved north of the buy range for many silver buyers, and because its the fall season and the markets are back to being more active. If you do a little research, you can see that the price of a CTU doesn't move much with fluctuations of copper prices in either direction. Other than sort of a bench mark for CTU's, like coinflation stats. are a benchmark for many coin values, copper futures, LME and the like don't seem to affect CTU prices over the long run as long as copper price stay in the range they have been at for a while. That doesn't mean, however, folks selling CTU's on eBay or other places don't use that fluctuation information to spin in their direction. And it doesn't mean that they don't effect popularity. CTU's can be very popular for extended periods like after the Nightline interviews, but it doesn't mean they always bring more $/lb. It's just time for CTU's to be more active.
Since Labor Day, I have sold well over a ton (30/CTU's ton) to individual buyers and a ton to a single buyer, after a very lack luster summer. The bright news for me personally is also good news for people selling CTU's. It's not that since Labor Day sales are up, but that in those individual buyers, 75% of them are new to CTU's as far as I can track by looking at their buying habits on eBay. So, my personal history tells me that this is just the way it is, it's just that time of year. Things should pick back up for everyone now for a while if you're selling your work, and it probably doesn't effect in a bad way, those who are just sorting to hoard.
At least thats the way I see things... (However, highroller told me I was cross-eyed yesterday)

[joeinnj]

What's you opinion on the metal composition of the US penny and Nickel being changed and also an eventual melt ban lift of both?
I believe the compostion of both will be changed in the very near future ( 4 - 5 years. O' how inefficient any Gov action is minus making War ) and as time moves along and with less and less copper pennies out there the melt ban would eventualy be lifted also.
Not that I can't wait to go out n melt all my copper pennies but I just think it's an interesting topic.
Even with legally being able to melt 90% Silver coins there's still boo-koo of it out there.
Guess a composition change would eventualy raise the numismatic value of copper's kinda like the 3-5x face of wheats now?

[thepennyfund]

I think people should definitely diversify their physical metals portfolio, and I think by the time the mainstream realizes they will need precious metals and real assets, it will be too late for them.

[joeinnj]

I think people should definitely diversify their physical metals portfolio, and I think by the time the mainstream realizes they will need precious metals and real assets, it will be too late for them.

Mega Dittos

[barrytrot]

Diversification only works if you aren't correct

There are some on this forum that very correctly and adamantly called the 27ish silver a couple months ago a MAJOR buying opportunity.

So +20% now is pretty good and I don't see a reason to diversify when you have such an excellent opportunity.


That said it's not always easy to identify a sweet deal like silver and gold were a couple months ago. Right now, for example, silver and gold are still on the cheap side but not such obvious easy "flips".

I still hesistate to diversify though Put your money where it is best

[joeinnj]

All metal hoarding to me is Insurance, Investment, and hobby.
I'm Long on all forms of metal so I just consider it a hobby for now.
Silver, Copper, Gold and then "other" are my order of collecting.

I agree silver has a long way to go to gain it's true value but when will the cartel lose enough minipulation control for us to see it's true value.
Stack long and hard and not expecting any short term windfall's is my play.
Enjoy!

[Sheba]

I like that thought. For those of us who are very 'small' stackers and do so to hedge what may happen in the future, not worrying about immediate profit or immediate flipping of our holdings, diversification may not be the most important thing to be concerned about. Although I will say that, at the least, having a bit of silver, a smaller bit of gold, and some copper probably isn't bad if that qualifies as 'diversification'

I have been reading about nickle hoarders as well. In my position, really, one can only do a couple of the above and gold is not one of those metals, as much as I would like it to be, that I can hoard or even have

I'm glad for the person who coined the phrase regarding copper and silver; 'the poor man's gold'

[joeinnj]

Gotta be in it to win it yes...
Hoard what you can (Insurance), collect what you like (Investment) and most of all have fun! (hobby)
I've only been in the whole metals game about a year but I've jumped all-in with both feet and with as mush as I can financially $pare.

And yes Sheba I do and why not do the Nickel saving / hoarding also.
It's a win / win.
The "melt" on them is up and very well may go up more.. the composition very likely will be changed to steel with a nickel plating in the near-ish future.. in-turn possibly raising there numismatic value way down the line... and worst case scenario is you return them to bank at zero lose minus the 1% the banking cartel pays you interest on those nickels if you leave em in their corrupt banking system.
Spare a Nickel??
Enjoy / Stack On