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Hey everyone, I'm young "20" and Ive been stacking copper now for about 3 months. I hand sorted/used a comparator to sort $135 face and was sitting on it, when silver dropped down to $32/oz i borrowed $120 from my brother to buy silver at a Coin Show. Thus needing to sell the pennies,. I know my LCS pays 2 cents per wheat, so i probed him on copper pennies he offered me 1.25xfv and I countered with 1.3 and he agreed. Ended up being a fun little investment, i found over 300+ wheat pennies and made about $50 off the deal. I plan on re-stacking, but now I'm more concerned with silver than with copper. After hauling $135 fv to the store, it also made me understand how difficult it would be to move a large quantity of pennies. Anyways i figured you all would be glad to hear that a respectable establishment is purchasing pennies. Anyone else have any similar stories?

Glad to see more LCS are getting onboard with the copper pennie.

The more pennies you turn over like this, the more silver you can afford.

Congradulations

My Post Person Looks at me With concern in Her eyes when I walk out to mail box & hopes I'm not looking for another 68# box. They all Survived but One looked like a basket ball when it got here One out of three

if your local coin shop is only paying 2 cents per wheat I'm not so sure I'd call them a "respectable establishment"

If you are looking to stack some silver maybe you could work out a deal with him. He could take your $100 face in copper and give you $100 in cash and $30 worth of silver.

bman wrote:if your local coin shop is only paying 2 cents per wheat I'm not so sure I'd call them a "respectable establishment"

If you are looking to stack some silver maybe you could work out a dela with him. He could take your $100 face in copper and give you $100 in cash and $30 worth of silver.

He doesn't sell wheat pennies, he hoards them for himself. At local coin shows they are 6 cents a piece all day, so i don't think its really that bad of a deal. I would never sell them for 6 cents. I'm more interested in nickel than copper at the moment, worth 3x as much and hit over 24/lb once. It demands a premium almost always, whereas pennies are below melt. I did buy $3.50 BU copper pennies at a coin club last night for $5.

I get 2x face for common copper pennies from my LCS. I also buy silver with the profit. It's all good. Silver for half price and it's a lot easier to store than copper.

2X face from an LCS is awesome. I would jump all over that if I could. I would also convert it to silver just like you do. Where is this coin shop?

Bullocks, I don't have a coin shop near me. How can I sell wheats for $.06. Can they be circulated? What if I polished one of them?

pennypanner wrote:I get 2x face for common copper pennies from my LCS. I also buy silver with the profit. It's all good. Silver for half price and it's a lot easier to store than copper.

Wow, i would be all day long if my LCS payed 2x

joemac wrote:Bullocks, I don't have a coin shop near me. How can I sell wheats for $.06. Can they be circulated? What if I polished one of them?

Not really sure what your trying to ask here. From what i've seen from the last several local coin shows, rolls of wheats were $3 dollars each. Circulated, polished its in the middle of a roll who knows what your getting.

Mercuryman wrote: At local coin shows they are 6 cents a piece all day,

Wow I wish I could get 6 cents apiece. I can't get a little over 3 and a half cents apiece shipped.

NDFarmer wrote:

Mercuryman wrote: At local coin shows they are 6 cents a piece all day,

Wow I wish I could get 6 cents apiece. I can't get a little over 3 and a half cents apiece shipped.

I may take you up on one of your bags in the future, quite a good deal. Unfortunately i don't have alot of cash flow at the moment.

I don't believe a lcs buys pennies at 2x. Prove me wrong, I have $1000 fv that I will let him but at 1.8x.

Rosco wrote:My Post Person Looks at me With concern in Her eyes when I walk out to mail box & hopes I'm not looking for another 68# box. They all Survived but One looked like a basket ball when it got here One out of three

(If anyone sends this guy anything, put it in the largest box available.)