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So I have decided to sell off my current hoard of copper so I can get some more money to buy more pennies. I've been looking around at prices people have been buying and selling for for about a year and 1.6x seems to be the magic number for the most part.

Well I found a gentleman in my area who will be buying up my hoard (5 buckets at 70lbs each) at 2.5x.

To me this is deal of the year material (considering he is basically paying melt). Are other people able to get a lot more in local transactions like this or is this some golden deal?

motos wrote:So I have decided to sell off my current hoard of copper so I can get some more money to buy more pennies. I've been looking around at prices people have been buying and selling for for about a year and 1.6x seems to be the magic number for the most part.

Well I found a gentleman in my area who will be buying up my hoard (5 buckets at 70lbs each) at 2.5x.

To me this is deal of the year material (considering he is basically paying melt). Are other people able to get a lot more in local transactions like this or is this some golden deal?

this is the highest price I have yet to see. I would go for it. you could always rebuy it cheaper from someone here if you can find a seller

Sell,sell, sell, and find out how much more he wants. Take the money rebuy here and sell some more to him. Find out how much more he is willing to buy.Turn and earn very simple when it gets going wright.

Seems like a no-brainer...sell $500 face for $1250, reload here at $800 shipped. What's not to like?

I keep telling myself that's the minimum I'd take, but I've been known to let things go for less than planned when something shinier comes along - chrome motorcycles, stainless steel firearms, etc.

Oh yes I will be selling most certainly. I just have this strange feeling this guy knows something I don't. Well something like he is melting them down or some such. He is a really nice guy and was pretty good salesman taking my wheats from me so something just doesn't seem right that he is willing to buy copper at melt prices.

Maybe I am just lucky. Does everyone sell online like here on the forums or feebay or has anyone tried a local sale?

If he knows something you don't, be sure to tell us if you ever find out what it is! Sounds like a sweet deal to me. Unless he intends to screw you on the payment (which has happened to me a couple times in the distant past).

Sell and buy more here.

I've seen '59-'81 pennies go for around 2x FV locally. 2.5x FV is amazing though. I'd sell all that you have, then restock for 1.6x FV for an instant profit. Like tinhorn said, be wary when it comes to payment. Don't accept another other than cash.....preferably in boxes of pennies

Sounds like a great deal. Just in case, take along a guy named Bruno or Guido to cover your back when you make the actual exchange. It's best if Guido never smiles and never says anything.

shinnosuke wrote:Sounds like a great deal. Just in case, take along a guy named Bruno or Guido to cover your back when you make the actual exchange. It's best if Guido never smiles and never says anything.

Or you could just bring along a couple friends who are off-duty coppers

How many tons do you want? Don't take a check.