joeinnj wrote: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)