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i was wondering if there are any LCS that buy and sell pre 1982 cents. if not will they buy/sell in the future if the prices becomes say 5-10 times face?

whats lcs?

local candy shop

I don't think they would want to deal with making 0.005 cents per penny; probably not worth their time.

My local coin guy usually sells me any pre-1982 copper pennies he has in his cash register at face.

He knows I collect copper.

I have discussed it with my local shop. He had considered it.
There was a guy at the local show selling bags. I think he was asking somewhere over $100 for $50 face bags. The conversation at the local shop came up after that show, with a couple of patrons standing around talking about "what's next for bullion buyers." I think many of those guys "get it," by which I mean they completely understand the coins are worth it... but the disconnect comes in that they would all still rather buy silver or gold... and don't think it is worth their time to buy that stuff or even sort for it yet. They will think differently once the cent is gone, probably. Or perhaps if coppers reach 5 or more times face?

Selling Cu pennies to a LCS is just adding a middle man between sorter and investor. My LCS's buy 90% Ag @ 26-28xFV and sell @30-32xFV, it will take much higher Cu prices before it would become a good deal for all.

There are some local coin shops that have a small active copper market. Easiest way to find one is just call up your locals ones and talk with them.

What about Canadian pennies? There's no melt ban there, right? So are there any businesses that will buy those?

I think if there is enough profit and demand to warrant them carrying them, they will. There are already a few local dealers that sell all their copper to me. I will have copper cents in every conceivable buying level at the table of the local coin show I am doing tomorrow.

HoardCopperByTheTon wrote:I think if there is enough profit and demand to warrant them carrying them, they will. There are already a few local dealers that sell all their copper to me. I will have copper cents in every conceivable buying level at the table of the local coin show I am doing tomorrow.

I would be very interested to see you at that show. Take a picture of your table, please. Let's get this rolling!

HoardCopperByTheTon wrote:I think if there is enough profit and demand to warrant them carrying them, they will. There are already a few local dealers that sell all their copper to me. I will have copper cents in every conceivable buying level at the table of the local coin show I am doing tomorrow.

Yepper this would an interesting picture to see how you do it!

Got any pics for us small-time dreamers?

Hoard, we await pictures!

You'all know I don't take a lot of pics. I stacked it high.. HPMBTT came by and witnessed it. But all I sold was gold and silver.

I got my local dealer started in copper just because I told him I would buy any copper he takes in. So that gives him an outlet for copper and makes it worthwhile for him to bother with it. I know he doesn't make much handling the copper but it does offer a service for his customers that want to get rid of copper and I get a bunch of copper at a good price.

If you have a coin dealer near you stop by and tell them that you will buy any copper they get. It is just one more way we can develop the copper market. If most coin dealers start buying it people are going to see it as a legitimate investment and actually start thinking of copper as a PM.

I sell it at mine

NDFarmer wrote:If you have a coin dealer near you stop by and tell them that you will buy any copper they get. It is just one more way we can develop the copper market. If most coin dealers start buying it people are going to see it as a legitimate investment and actually start thinking of copper as a PM.

That is great insight....to help "develop the copper market" by buying from our local coin shops. And copper is the "poor man's precious metal" right?!!