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A person locally wants to sell me some pennies, he says that he has been putting all his pennies in a jar for the last 20 years and has 45 pounds. I was thinkig that since he has been saving them for so long that a large number of them could be copper, he wants 2.00 a pound. Do you guys think it is worth buying for that price?

Will he let you inspect them before you pay? Can you verify the weight without the jar?

Yes I will be check the weight and I am going to check a handfull or so to make sure that they are not all zinc.

well, a lb is what, like 130 something...so not too much over face per lb, but ya, make sure the yield is worth it, otherwise just go to the bank and get them at face

Eyeball for wheats....I'd jump all over it. But I'm bored!

I just got my first box from the bank, I only went through six rolls and so far it is 30% copper not including the 82's or the two wheats so unless those are better than 30% it wouldn't be worth it

Oakair wrote:well, a lb is what, like 130 something...so not too much over face per lb, but ya, make sure the yield is worth it, otherwise just go to the bank and get them at face

145 ~146ish

gojomoso wrote:

Oakair wrote:well, a lb is what, like 130 something...so not too much over face per lb, but ya, make sure the yield is worth it, otherwise just go to the bank and get them at face

145 ~146ish

for copper
181 or so for zincolns

Tell him $1.75 a pound and see if he will take it

hobo finds wrote:Tell him $1.75 a pound and see if he will take it

45 lbs @ $1.75 = $78.75

all copper $65.25

all zinc $81.45

I would offer 1.50 per pound.. his alternative is to eat the coinstar fees. How can a guy only accumulate 45 pounds of pennies in 20 years? I accumulate more than that almost every day.

Yeah $1.50 a pound no more than $1.75 otherwise its not worth your time....I have done a few of these transactions @ $2 a pound you need a lot of copper to make it...only 20 years of hoarding...with 19 years of zinc production....

I emailed an offer of 1.50 and he replied with just "no", I emailed him again and asked what he would take but no response yet. If he says 1.75 I will take them

I would pass on them and go to the bank and pick up a few boxes for face.

I still think at $1.75 you will cover, might be some dimes in the mix Reply back at $1.75 final offer!

I Told him 1.75 was the most that I would pay and he said he would take it, I guess I will be picking them up this weekend. I just finished sorting my first ever box of pennies from the bank

You shrewd trader. Now his kids will go hungry.

stonewallrabbitry wrote:I Told him 1.75 was the most that I would pay and he said he would take it, I guess I will be picking them up this weekend. I just finished sorting my first ever box of pennies from the bank

Well now you need to give us the info when you get them. I think you will cover at face value for them due to lots of zincs. But hope I am wrong and you get lots of copper! Either way I feel it's a win win!

Best to eyeball the entire lot in his containers. Could be he only has 814 actual cents, but they're all encrusted with crud, oxidation, solder, dirt, grime and general awfulness. LOL. That makes the weight jump pretty fast.

I picked up the pennies today, with the carboard box they weighed 62.8 pounds and he only charged me for 60 pounds. Right away I saw some qoarters,dimes and nickles mixed in.

I almost cried when he told me he had a big jar of silver quarters and dimes and that he took them to the bank and "cashed" them in a few months ago

So it cost you $105.00. I still think you will do good on this!

Yes 105.00, once I get everything sorted I will post total face value of everything in the box and then the total copper in the box. He says he has some rolls of wheats in his safe and will let me know when he finds them to see if I want them

Kinda weird that he was negotiating the price of pennies, yet he brought silver to the bank for face salue...

Diggin4copper wrote:Kinda weird that he was negotiating the price of pennies, yet he brought silver to the bank for face salue...

Yeah, something doesn't add up.

Maybe he meant one of those "we buy silver places"?, He said he got 1200.00 for them so he must have gotten more than face or else he had a ton of change.

He did not know about copper value in the pennies and I did not tell him, I just said I sort through them for wheats,rare years and errors