Sorting Copper pennies

[marine70]

Are people still sorting copper pennies. The reason I am asking is I have had some for sale and there seems to be no interest anymore. Has there been a change in what use to be the talk of the site.

[hobo finds]

viewtopic.php?f=7&t=26646

[ScrapMetal]

I gave up sorting. Yes, seems many have lost interest in buying. I got around 30% copper out of my $1000 monthly sort. Getting the pennies was easy, as my father got them for me, as he only wanted the wheaties. I had several customers, one of which bought a a few thousand dollars worth. He told me that he probably was not going to buy any more. The others who only bought a $100 here and there seem to have disappeared. It is a pain to dump the zinc.
I doubt I will get back into sorting.

[RichardPenny43]

What? Really?
Heck yeah, I'm still sorting!
I sold 10 CTU's off of CL yesterday, dude came from WI (I'm in IL) and met me a few blocks from my house. He said he might want 10 more in a few weeks.

[johnbrickner]

I still sort, but not to sell. I just keep adding to the stack.

[marine70]

I wish that guy that bought off of CL in illinois would come on down to Southern Illinois and take 2000 face off my hands. It does not hurt to wish. Thanks all for your responses.

[68Camaro]

The drop in copper price dampened the buyer/seller action. A few larger sorters still in action and able to sell (as noted above). And many people are still sorting in a small way for themselves. I stopped sorting after I hit my stash goal to take a break and focus on other things (silver, nickel sorting - now taking a break from even that.) I still collect the better quality coppers in my change. Might get back to true box sorting at some point so kept my equipment, but sometimes a break is good.

[J_Dodge]

What? Really?
.... 10 CTU's....

Forgive me, but what's a CTU? Haven't been able to get via context....

JD

[fasteddy]

No worries....ctu = copper trade unit....$100.00 face value of the 95% US copper pennies....ctu was coined (pun intended) by a super post hoarder in red right here on RC.

A ctu will fit in a USPS medium flat rate box for economical shipping purposes.

no big money involved here...keep looking else where for your get rich quick.

[copperhead57]

People are more likely to sort them during the winter months.

[LooseChange]

People are more likely to sort them during the winter months.

Spot on Copperhead, I do sort more in the winter, as I am more likely to be inside. We are supposed to get some freezing weather this weekend.

Quick Quiz:
What has 2 thumbs and a pile of unsorted $25 boxes to address while winter approaches...this guy.

[SilverDragon72]

I haven't sorted a box of pennies for some time now. I still collect the ones that I get back in change. I come across some Canadian coppers once in a while in my LCS.

[Zincanator]

I recently jumped back into hand sorting full throttle but have two problems I didn't have before - multiple banks telling me somebody already took all their pennies, and an error message on the Coinstar saying it's full when I go to get my no-fee Amazon gift card for dumping zincs. Pretty sure I have some local competition. Okay... which one of you is it, ha ha!

[scyther]

I mostly stopped. I might do a little on a rare occasion if I feel the urge to find some wheats, and if I'm sorting for wheats I may as well separate the copper and put it in the stash, but I've become quite disenchanted with copper.

I think we lost. We tried to fight the mint, and the mint won. Inflation is low, copper isn't going up anymore, and at 2 cents each (theoretical melt value- actual is probably significantly lower) there just isn't enough incentive for people to do it illegally. If the melt value goes up to 3 or 4 cents each and stays there for a while (whether due to inflation or due to an actual increase in the value of copper) people will start hoarding them en masse, and melting and exporting them illegally, and they'll disappear from circulation, just like silver in the 1960s. Then the melt ban will be repealed, and we win. We also win if they stop making pennies. But at 2 cents each, and with inflation as low as it is, there just isn't enough pressure in any direction for the mint or the populace to do anything. Until the next round of inflation or rising copper prices, nothing is going to change, other than a gradual decrease in interest. You may not be able to sell these at a profit at all after the cost of shipping in a few years. Soon enough everyone who wants some will have some.

Don't fight the mint.

[CardsNCoins]

....We tried to fight the mint, and the mint won..........

While I don't agree with this sentiment, I will set it to music courtesy of Bobby Fuller's classic tune.

Sorting pennies for the... long run
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I needed a hedge, and thought the ... Feds' done
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I lost my supply bank and I feel so bad
I guess my stackin's done
Cause that's the best bank ... I've ever had
We fought the mint and the ... mint won
We fought the mint and the ... mint won

(Instrumental Break)

Stacking pennies with a . . . Ryedale
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I miss my copper and those ... wheat ones
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I lost my supply bank and I feel so bad
I guess my stack is done
Cause that's the best bank ... I've ever had
We fought the mint and the ... mint won
We fought the mint and the ... mint won

[plus1hdcp]

@CardsNCoins ^ very good


On topic, I decided to keep adding to the stack. I enjoy the search for the wheat's and other oddities. I also started taking a closer look for some of the error coins. Keep in mind, when copper prices rise and I am a believer they will and inflation is present (thanks to the Fed) but just hasn't shown its full hand yet, those with a stack of copper could be well positioned.

[scyther]

....We tried to fight the mint, and the mint won..........

While I don't agree with this sentiment, I will set it to music courtesy of Bobby Fuller's classic tune.

Sorting pennies for the... long run
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I needed a hedge, and thought the ... Feds' done
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I lost my supply bank and I feel so bad
I guess my stackin's done
Cause that's the best bank ... I've ever had
We fought the mint and the ... mint won
We fought the mint and the ... mint won

(Instrumental Break)

Stacking pennies with a . . . Ryedale
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I miss my copper and those ... wheat ones
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I lost my supply bank and I feel so bad
I guess my stack is done
Cause that's the best bank ... I've ever had
We fought the mint and the ... mint won
We fought the mint and the ... mint won

I was thinking "don't fight the Fed", but that works too!

[HoardCopperByTheTon]

No worries....ctu = copper trade unit....$100.00 face value of the 95% US copper pennies....ctu was coined (pun intended) by a super post hoarder in red right here on RC.

A ctu will fit in a USPS medium flat rate box for economical shipping purposes.

no big money involved here...keep looking else where for your get rich quick.

Actually I believe it was coined a few years ago on the "Old RC" after I responded to a challenge from the Shire Post Mint that $100 in copper cents couldn't be shipped in a FRB.

Thanks Cards.. now that song it running through my head. I think they call that an ear worm.

I still sort.. heck, with all that equipment I pretty much have to.

[biglouddrunk]

I sold half my hoard for 1.67x shipped a month or two ago.

[Copper Catcher]

I can definitely tell you that after my visit to the Portland Mint that there is still an interest in sorting pennies and buyers waiting to gobble up all the copper you can provide. If you want to sell your hoard then contact Highroller. I’m sure he will be happy to make you an offer.

[scyther]

I can definitely tell you that after my visit to the Portland Mint that there is still an interest in sorting pennies and buyers waiting to gobble up all the copper you can provide. If you want to sell your hoard then contact Highroller. I’m sure he will be happy to make you an offer.

Okay, it's easy to sell them. But last time I checked, he was offering 1.35x face value. That's quite a bit under melt value. This is probably because he has to hold on to them for some time, and ship them out to customers in relatively small quantities. More shipping costs, more storage costs, etc. I think shipping them right away, and in large quantity, to a refiner would be cheaper, and thus we could probably get a better price. For me, 1.35x isn't enough to justify the time spent on sorting- but 2x face would be.

I'm pleased to hear that there is still a lot of demand for copper cents from people who want to hoard them. But only a very small amount of all the copper cents that are still around are being horded for their metal value, and there's a limited amount of people who want to hoard copper. I can't see it being widely popular. If all of the copper pennies still in circulation today were pulled out and hoarded, would there be enough demand to absorb all that supply? I highly doubt it. On the other hand, if they could be melted, could the global copper market absorb the added supply of copper? Easily. It may drop the price a little, but probably not much. As long as they can't be melted, there's a risk of supply overwhelming demand and crushing the price, especially if more people realize these aren't appreciating the way they thought they would, and give up on it. But if they can be melted, it doesn't matter whether people want to hoard them or not- any unwanted supply will disappear as coins are melted.

[johnbrickner]

<snip>
I think we lost. We tried to fight the mint, and the mint won. <snip> But at 2 cents each, and with inflation as low as it is, <snip> Don't fight the mint.

Good scyther:

In the short term things do appear to be as you say. Especially as a small business enterprise in which one is selling one's time, effort, and intrinsic value for FRNs. It's going to take a big increase in the awareness of the masses to make this one happen on the small time level. And when that happens (that being the masses figure it out,) it will be to late. Better to be out of FRNs by that time and in your lifeboat.

However, with the intrinsic value of the penny at over 1 cent I will not be convinced having copper pennies as a stack of "sound money" is a bad place to put my efforts. The stack is effectively immune to the antics of both Pennsylvania Ave. and Wall St. short of physical confiscation. Thus far, stacking pennies (and other metal coins) is proving itself one of the most effective long term places to store the value of my life efforts save for my wife and children.

Additionally, shadowstats has the 1990 based: CPI at 5% and Consumer Inflation at 9% as of 10/30/13 but, I don't need shadowstats to see the people around me living lives of quiet desperation.

As long as the Fed keeps putting 9 zeros after the $85, and pressing enter on the keyboard each month, I'm going to keep stacking pennies. I won't fight the Fed's behavior towards assuring the decline of the Empire. Most of us will see the day China (with her allies help) passes America as the most wealthy nation in the world (one only need Google "China passes US economy" to get over 26 million results in about a quarter second,) if it hasn't happened already.

In my mind, it used to be he who had the most dollars (FRNs) was the one winning. There will come a time when the ones holding the dollars will be the losers.

[Shazbot57]

Still sorting, fight the power! Long live the stackers! Common sense forever!

[theo]

I'm still sorting on a limited basis. I have a respectable stack of coppers and I'm having some storage issues, however I find the act sorting calming. I also enjoy the wheats and other unexpected finds.

I'm also going through my existing pile and rolling them in clear plastic bank rolls in case I find a buyer to purchase a CTU or two.

Finally, I'm not willing to cede any victory to the gov't or the Fed. Sorting pennies has not made me wealthy and it probably never will, however it gives me peace of mind. The bottom line is our current financial system is unsustainable and when it stops those boxes of pennies in our basement won't be so embarrassing.

[68Camaro]

There are different reasons for sorting. If you're a sort and flipper, then unless you've gone large scale and/or have developed local long term customers, the existing price point doesn't work for flipping. However many here sort for a combination of wealth retention, therapy, and potential excitement of the chase (never knowing what the next box will bring). It remains a viable activity for those people, and the likelihood of eventually payoff is real.

I'll add that while I've stopped cent sorting for more than a year I still save my cents in the change, and am keeping the ryedale and scancoin so that I can restart when the price of silver goes back up and I throttle back on my PM purchases.

Looks I basically repeated an earlier post of mine - at least I'm consistent!