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New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 10:13 am
by Finder
Hi,

Here are my results after the 1st week.(Fort Worth, Texas)

Ive searched 25 0r 30 rolls, finding an average of about 13 copper cents per roll.
(as low as 7 per roll, high as 23)
Included were 2 clad dimes and 4 wheats to 1945 D. 2 Canadians.

Coinstar just got to me for 9.8% on 1400 Zincs. ($1.30ish)
(I really dont want to roll them back up, or deal with tellers who dont want to deal with them)

Meahwhile Im stripping copper wire and have 14 lbs stripped (thats $44 here at #2 for $3.18), with another 40 lbs yet to strip.

Ive got a box of pennies ordered at the Credit Union thats coming in Tuesday.

Ive ordered a cheap sorter on Ebay that I expect to arrive soon.
I also have a digital scale from Ebay coming in ($8), that way I can weigh certain copper wires that are stripped to see if its worth the trouble to strip it.

I will turn my wire into pennies which will be my working capitol.

Im still deciding if i want to or can absorb the coinstar zinc fees.


Anyone else care to share their recent results, or offer an tips for a noob?

thanks and good luck, hoping Copper can hold $4.
PS: I found a silver dime in the work break room change. ($2 melt)

Re: New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 10:19 am
by misteroman
welcome finder! You sure the coinstar fee was 9.8 and not 8.9%? That would be a pretty sneaky amount to raise it though as most might not notice it.
Good eyes on the dime too.

Re: New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 10:55 am
by TheJonasCollegeFund
You need to find a bank or credit union with a free coin machine for members. Coinstar will really cut into your bottom line.

Re: New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 11:10 am
by fasteddy
misteroman wrote:You sure the coinstar fee was 9.8
, yep hit it the other night for my $10 Lowes cert for $40..x 3 IT WAS 9.8% Yuck...I have three G's worth of halves and pennies sitting in buckets looking for a fee free dump home. :|

Re: New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 11:15 am
by Finder
Thanks guys, ill be looking for a bank with free coin sorting.

Coinstar really hurting my profits.

Yes, I do think it was 9.8% fee.

Used to be 9 here if i remember correctly.

Re: New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 11:16 am
by Gipper1985
Finder wrote:Hi,

Anyone else care to share their recent results, or offer an tips for a noob?

thanks and good luck, hoping Copper can hold $4.
PS: I found a silver dime in the work break room change. ($2 melt)


I posted to the following tracking thread for the first time just a couple of days ago:

viewtopic.php?f=10&t=90

On the coinstar machine do you have the option for gift certificates? I normally avoid the late fee by getting a Lowe's gift certificate for no fee. The Lowe's cashier thought it was strange at first, but they seem to be getting used to it.

Re: New to Penny hoarding/My Results

PostPosted: Thu Dec 16, 2010 1:34 pm
by Finder
Yes, it had the option for gift certificates, but Im not in the market for a gift certificate right now.

Perhaps if it was something I was going to buy anyway, like groceries at Walmart then that would benefit me.

I didnt notice if Walmart was an option.

Re: New to Penny hoarding/My Results

PostPosted: Fri Dec 17, 2010 12:01 am
by pennypicker
Coinstars in my neck of the woods (Los Angeles) is 9.8% as well.