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Since I started sorting pennies it's been a whirlwind of fun. Looking for wheats, rares and TD bank dumping I love going to the bank to dump, so does my daughter

My work hours changed with the school year and now I can't get to all the banks I used to pick up from. Which isn't a bad thing, I was doing a bit too much too fast and now I have 3 garbage cans to sort through for uglies, wheats etc. still. And that's the problem now with the huge dip in copper prices, I am almost content to leave those uglies in with my clean and just keep sorting. I was going to work at it tonight after the kids went to bed but I just didn't have the interest.

It's one of those good problems to have. A big pile of coppers but sorting out the uglies seems so tedious now.

Anyone else being affected by the crash?

EDIT - Just wanted to mention I have not stopped sorting from my bank sources. I have just stopped sorting out the uglies from my good coppers because of the crash. Anyone looking for an Ugly sorting job?

Cheers,
Henchman

Yes, the copper crash has given me hope that all people who have been sorting will stop so I can finally start getting some higher ratios of copper to zoinckers!

This is coming from a guy who has sorted less than $100 FV, stopping on a dip? That just don't sound right to me.

Henchman wrote: now I have 3 garbage cans to sort through for uglies, wheats etc. still

tractorman, how do you fill 3 garbage cans after sorting $100 FV.?

That would be a neat trick! I just meant my opinion, from a guy who has sorted less that 100FV (me) very small-time, but I'm hip to the idea ... why would folks wanna stop on a dip?

Of course I mean for anyone in for the long-haul. There's a melt ban that makes any short-term fluctuations moot anyway, right?

Maybe some discouraged sorters will dump their copper stash back into circulation for the rest of us to find.

tractorman wrote:That would be a neat trick! I just meant my opinion, from a guy who has sorted less that 100FV (me) very small-time, but I'm hip to the idea ... why would folks wanna stop on a dip?

Totally missunderstood your post and I apologize... I guess the thinking is when copper levels are at the point where pre-82s are 3-4x face melt value it is "worth it" -- But lately I've seen a few posts here in the buy it now section selling copper cents at 1.5X shipped and they took a few days to sell. I'm guessing that is getting to the point of "is it worth the time?" for some folks (not me)

I'm very low volume too. $50 a week. I can't really afford more because what doesn't get returned has to be counted as saved. This is fine but right now amount isn't too high
Never really looked what copper prices were when I started. Thought it was a good idea and I enjoy looking for the wheats.

Chris

News flash- metal prices will undergo huge price swings during this time of economic turbulence, but the up-trend will remain firmly in place. Only the severely shortsighted will let this latest dip affect their sorting efforts. By the end of the year gold will be back over 1800, silver back over 40 and copper back over 4.00/lb. Book it.

Common Cents wrote:the up-trend will remain firmly in place. Only the severely shortsighted will let this latest dip affect their sorting efforts.

I agree 100%. The short-term outlook has changed, but the elements for future catastrophe haven't gone away. The dips have allowed me to add to positions and hasn't changed my sorting at all. I had dropped to near zero when class started back for the fall, but now I've found a good rhythm where I can get all my work done and still sort like a madman - especially on weekends - and I'm only looking ahead from here.

It hasn't affected my sorting at all. I am putting it away for the long term.

It doesn't say much about my timing: I got started just before the crash. But no, it hasn't affected my pace. I guess I'll be satisfied to just come out ahead. Perhaps I'm more in it for the fun and the blogging.

I anything my interest in sorting has gone up. I was asking myself if there was a single asset that couldn't be turned upside down by Bernanke and the answer came to me that pennies and nickels are pretty much it. If the alloy drops to zero in fiat dollars, you can still spend it!

We have learned from many years in commodities AND stocks, and realestate, that when prices are (or just have) fallen by a fairly large percent, it is usually a good time to buy. I can't buy right now, so we just sort more! (I guess that is "buying", but I mean in bulk which I can't do)
So yes the "crash" has affected it.
We have gone from a 2 months ago not knowing nuthin about pennies to..
20 ($25) boxes + misc cwr's this last month.
Probably 50 boxes or so this mo, etc. Now that we have set up acounts just to do this. However with only 4 banks in town, we will limit out soon I bet.
And now that one of our new Bank will accept $50 fv bags?

Edit, looking to buy a automatic counter.

The swings will leave serious hoarders unaffected. Considering it was very hard to realize a value of 3 cents before when prices were higher anyway.

My only problem is that my half sorting has picked up. But I bought a few bags from my daughter’s boy-friend. So no... at least I would like to think that. lol

Not the copper crash but the silver dip has me dumping my pennies so I can buy the silver. There are lots of copper pennies out there. $30 silver may not be around much more.

No way, I would do more if i had the money to put in it.

The only things affecting my sorting are the 2000+ mile trip I'm about to make across country pulling my travel trailer. I'm about maxed out on the weight I can haul. That reminds me: I have a small hoard of zincolns I need to cash in before I leave! I also started putting more into silver when the price started dropping.

If anything the price drop has increase my interest in buying more copper, nickel, silver and gold.

Nothing has change in the world, if anything it's worst than a month ago AND the price is dropping ? to me it's just another very clear example on how bad the system his manipulated, leading to more sorting and buying, not less.

Copper down another 22 cents again today.

Not good.

Sorry for you guys who are actively selling and not making much margin on your copper. I'm good with lower prices since I'm a sort and hold kinda guy. Wish I had the cash unfettered to buy a ton or so of coppers.

Seems to me so long as the melt ban is in place the $150 per $100 face customary price should remain little changed whether copper is $5 lb or $2 lb. I seriously doubt anyone would be willing to unload a bag for $115 even if cents fell all the way to par value.

Who's going to do all that work (ryedale sorters included) for a measly 15 bucks?

Market price is market price. If copper were $2 a pound, have fun trying to sell $100 FV of copper pennies to someone for $150. Not going to happen