Amount of copper removed from circulation

[gilpo]

I looked for something like this but couldn't find it. Please point me to it if it already exists. It wouldn't let me post this to the tracking forum so I'm putting it here. Please move this if you so desire.

I am interested in getting a rough figure of the amount of copper pennies that have been removed from circulation. I am only interested in 1959-1982. The amount of wheats left in circulation is statistically irrelevant as is the amount of wheats and canadians that end up in your copper stash. I looked at the tracking threads but they only do by month or total for the year. I want a grand total.

So here's what I propose, make a post with the total number of copper pennies you've personally removed from circulation. Do not count those you have bought, but DO count the ones you have sold. We will assume that whoever bought them did not cash them back in at the bank. Do not include your wheat stash. If you store in bags/buckets/jugs, just decide on a rough estimate per container and post the total. When you add to your stash, post a new reply with the new running total. I'll try to update this post with the current totals. Lets see if we are even making a dent.

Based on the US mintage figures, there were 158,150,468,413 1959-1982 cents made. They didn't release figures for the copper/zinc split in 1982, so I will use the full total to help offset the wheat and canadians that end up in your stash if you're not hand sorting.

If every person in America saved their copper cents, everyone would only be able to save 515 cents. WOW!

Let me know if you have any suggestions or comments on this idea.

[68Camaro]

There have been several (numerous?) attempts to estimate this posted in the past, including one I did. I don't think there was ever a solid consensus for any approach, though I (obviously) liked the one I did.

I don't think you will get a good number by polling the RC membership on their amounts - just the amount "lost" in circulation dwarfs that.

I believe you need to start with some accepted estimate of the amount of cent coinage currently in circulation (there are several estimates around), and then multiply that by the gross average percentage observed in the "wild", which seems to vary from the low teens to the mid-30s, with a generally accepted national average of around 20%.

Edit, as I just realized I stopped mid-stream...

So, to get the number removed, you calculate the estimate of number of coppers still in circulation (above), and subtract from the total minted.

[inflationhawk]

Unfortunately, I have to agree that I don't think anything meaningful could be extrapolated from a RC poll. Although I wish it could. There is no way anyone can really know, all you can do is sort until you can't and collect all you can while it's still there. Once my percentages get below about 10%, I'll probably stop sorting as it won't be worth my time. Fortunately, I am still seeing around 25% consistently.