found a new place...

[cacahg]

to sell off some of the coppers. I found a new coin shop buying coppers in Mid West City, OK. APMEX was buying them here in town but stopped. This guy pays 1.25 per 1.00. It's not great but don't have to deal with shipping or ebay fees. This is a crazy habit/hobby. I sold silver to buy copper to sell copper to buy more copper to in the end buy silver. I guess it is free and I am a little ahead of where I started so back to the copper mine.

[Diggin4copper]

I think you are selling yourself short... that is way to low for me personally to sell. I had a local guy who would pay 1.40, but he wanted my whole hoard...I was tempted, but Im still shooting for 5000 lbs... you should throw an ad up on Craigslist for 1.50.. might get some bites..... Good luck!

[cacahg]

I know he was low, but I wanted to make some room and free up a little cash. I saved me the hastle of shipping and he had good price on silver so what can you do.

[uthminsta]

Yeah, it was a little low. But trading copper into silver... in the end, you did okay. Silver has much more of an upside, you know!!! I have been wanting - for a while now - to establish a market locally for copper... and you've done it. Kudos.

[knibloe]

I have been toying with the idea of seeing if the LCS would buy from me. Maybe I could do it on consignment. He would not have to pay me unless he sells them. What do you guys think of the consignment idea??

[jldco]

I think you are selling yourself short... that is way to low for me personally to sell. I had a local guy who would pay 1.40, but he wanted my whole hoard...I was tempted, but Im still shooting for 5000 lbs... you should throw an ad up on Craigslist for 1.50.. might get some bites..... Good luck!

I think 1.25 is a very fair price for current conditions. (because we are talking about a LCS who is going to have the guys paying 1.5 coming into his shop, and he's there with ready monney for the sorter) I buy it like that all the time to turn, but you can't pay any more than that and make anything on the investment. It makes me feel like I'm right where the market is (currently) when I read things like this.

Just a thought from a sorter/buyer/flipper... I only sort and sell. I don't have a hoard... I'm here for the fast nickel helping those waiting for a slow dime.

Happy New Year!

[cacahg]

I keep an amount of copper that I never go below and from time to time I sell off the extra to buy junk silver. I would like to be more in gold, but copper and silver is easyer on a teachers salery. After I sold off at 125 some locals popped up on craigs list offering a little more but the guy I sold to is close so no biggie this time.

[baggerman]

I just worked out a deal over the phone with a guy to trade $100 face in copper for $7.20 in silver coins and I am happy with that deal.

[mnymgr1]

I guess, maybe maybe $1.25 per 100 is ok, but gosh, like TX has mentioned to me, doing this in low/medium volume situations, really not banking too much per hour. If you then settle for 25% over, think you're going way low single digits if you're slitting open rolled coin, drive time, etc. So in an emergency situation sell away, but otherwise, keep stacking the copper if you can afford to. I have pretty much set a minimum price to sell at $1.50 per 100 net net when the time comes.

[baggerman]

$7.20 X 21 (melt) = $151 for $100 in pennies. Did I mention he said that the silver he had were morgans?

[.02FYI]

$7.20 X 21 (melt) = $151 for $100 in pennies. Did I mention he said that the silver he had were morgans?

Your name fits.

[baggerman]

$7.20 X 21 (melt) = $151 for $100 in pennies. Did I mention he said that the silver he had were morgans?

Your name fits.

Actually the handle comes from riding a full dressed Harley (known as baggers)

[slara512]

yo cacahg, does the local coin dealer discriminate on the types of copper you can sell to him at 1.25? junk copper lmc's, verdigris copper, etc? the reason I mention this is because I love the idea of knowing where your "price floor" is and you can save your s-mint,AUs , wheats, 59s, errors, and other coins you deem might sell for more close to e spot or higher down the road.

Eventually their will be different prices for copper pennys like between wheats and indian heads.

We should start to explore the different prices: any ideas on how the prices should differ?:

Junk Copper Pennies 1981 and pre 1.25 cents+ to spot
1982 spot+?
1959 spot+?
S mint pennies spot + ?
Wheat Pennies 50s 3-5 cents +
S mint wheat pennies (Ive seen these trade closer the 25 cents each)

It makes sense that Realcent people start having these pricing conversations. No all copper pennies are equal.

I am willing to sell copper pennies for copper prices but will not sell coins deemed more valuable. I rather hold on to those as a store of value and flip/sell the junk copper.

[CardsNCoins]

.....Junk Copper Pennies 1981 and pre 1.25 cents+ to spot
1982 spot+?
1959 spot+?
S mint pennies spot + ?
Wheat Pennies 50s 3-5 cents +
S mint wheat pennies (Ive seen these trade closer the 25 cents each).......

Why would 1982s be worth more than spot in your pricing scenario?

[slara512]

well, the only reason is because a complete 7 coin set of all the 1982 goes for like $6-$7, but there over 16 trillion of the 1982 penny coins in circulation, I know you know, hence your objection. that one of all is more wishful thinking