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I am new to this hobby, so you may have discussed this before. When the melt ban ends in, lets guess 3 years, and lets guess a melt value of 3 cents per penny. What is your end game? Do you sell your pennies to a person who melts? Do you try to melt? Or do you hold for the long haul?

Well they are almost worth three cents now, they will be worth much more in the future. Personally I am holding and may sell to someone looking to invest in hard assets. Similar to what people have done with junk silver. If the dollar fails, I'd suspect they will be worth quite a bit more than what they are now. I'm hoping 10x face. Hey, we're allowed to dream right?

I doubt if I would ever just sell them as scrap unless I was desperate. I am holding them as a hard money asset, as I also think they will be traded as such in the future. I could be wrong about that, and, if I am, I will probably pass them on to the next generation. Worst case scenario - I cash them in for face value. (which is really not a bad worst case scenario)

I see this as a hard asset (same as AU, AG and real estate) and if by some miracle the dollar does not fail in my lifetime they will go to my grandkids.

I'm separating out the uglies so I'm pretty sure I'll just scrap those when the time is right. As for the others... I'm not sure. I'll just have to see what the options are.

ill never melt. i will either leave them to my kids or sell/trade similar to junk silver coins if copper goes way up.

Sorry to be a wet blanket, but I'm inclined towards selling them.

Hold indefinitely, I don't even want to deal with moving them as it is. I'd like to buy a piece of land eventually, bury them, and put the GPS coordinates in my personal safe. My only currency collapse theory is put them in bags of 100/200-500, etc. When bartering, you trade x amount of goods for 500 coppers, or use them to make change when buying/selling with silver coins, etc. If the coming Iran conflict turns into WW IV is the government going to want these back? For instance the USAF ordered 20, 30 thousand bombs from Boeing, each containing 5400 lbs. of explosives, well .. we know where those are going.

I see these common coppers being valued much like wheats eventually, being as they are both copper. I know a dealer who was selling me wheats at two cents, maybe I should revisit that idea.. I just don't know otherwise, as copper is so common and plentiful.

Melt when they lift the ban

willy13 wrote:ill never melt. i will either leave them to my kids or sell/trade similar to junk silver coins if copper goes way up.

Same for me.

Cheers,

joemac wrote:Well they are almost worth three cents now, they will be worth much more in the future. Personally I am holding and may sell to someone looking to invest in hard assets. Similar to what people have done with junk silver. If the dollar fails, I'd suspect they will be worth quite a bit more than what they are now. I'm hoping 10x face. Hey, we're allowed to dream right?

If the dollar collapses it may return to the original exchange vs gold/silver!

I think I could spring 2000 coppers for a gold double eagle, or 100 for a 1 oz silver round. I'm thinking copper will be more widely traded than gold/silver in this scenario also.

How could 2.20 in CU be worth 1 oz. of silver?

why not, not long ago, 475 zincs would buy you 1 oz of silver

i2 will hold for a shtf scenario. im not melting any gold, silver, copper, or any other coin 4 that matter. i really hope u BIG guys melt all ur tons though. more value for my son or future offspring.

Sorry twoten, I just did not see why silver would be going down so significantly in price.

I would also fear the government saying they own all those copper pennies and calling them in..

everything wrote:Sorry twoten, I just did not see why silver would be going down so significantly in price.

I would also fear the government saying they own all those copper pennies and calling them in..

Oh, I am not saying we are heading there again, just saying there was a time not long ago you could get silver for $4.75 oz, and I don't see those days ahead of us, not for a long time, if ever.

John_doe wrote:

joemac wrote:Well they are almost worth three cents now, they will be worth much more in the future. Personally I am holding and may sell to someone looking to invest in hard assets. Similar to what people have done with junk silver. If the dollar fails, I'd suspect they will be worth quite a bit more than what they are now. I'm hoping 10x face. Hey, we're allowed to dream right?

If the dollar collapses it may return to the original exchange vs gold/silver!

I think I could spring 2000 coppers for a gold double eagle, or 100 for a 1 oz silver round. I'm thinking copper will be more widely traded than gold/silver in this scenario also.

Cheers to you sir for your vision! I think many people here underestimate the need for trading units as the buck crashes. Gold will be priced astronomically and will be used for major purchases. Silver will be priced at a 15/20 to one ratio with gold, and will be used for intermediate sized transactions. But for day to day items, I think there will be a huge demand for copper trading units.

At a minimum, I'm expecting to get 10X face for my pennies, but I think the upside could be much higher depending on how low the dollar swoons. I see the lifting of the melt ban as mostly inconsequential, because it won't be lifted until the percentage of CU pennies in circulation is next to nothing, and the fiat currency will have been severely debased by then. So just like some junk silver gets melted and refined into 10 oz. bars, some pennies will be melted into .999 purity form, but there will still be plenty that stays in coin form and gets traded by investors or in merchant transactions.

if the melt ban ended right now, i would convert to FRNs and convert those to Ag.

Cu is a hard asset but its tied to an expanding economy. The beauty of Cu pennies right now is the ability to get them below melt.

Once the melt ban is lifted Cu pennies will trade like sterling or war nicks - the value will be recognizable but people will not be clamoring for them.

Right now I don't have a true end game. Just storing them against the time I need them for some purpose or just let my kids figure out what to do with them, along with the other things that I've been salting away. I may be a pack rat but the true pc wording today is "accumulator".

I'm holding them for as long as I can. Maybe pass them to my kids, maybe sell or trade if copper prices are right. I wont melt them. I know a cent is 95% copper, I don't know or trust a melted blob of former pennies is 95%. This is why we collect cents and not melted blobs of who knows what.