by ZenOps » Sat Oct 06, 2012 9:15 am
Nah, already ran the numbers on zincers.
Copper has been as high as $4.50 a pound and even so - there has not really been a run on pennies.
Since a zinc penny weighs 20% less than copper penny, and factoring in zinc being about 92 cents per pound, Zinc would have to appreciate by 600% in price to catch up to a copper penny that is still circulating (and even so, very unlikely to be hoarded at that price, just like copper pennies)
I would consider 6x face value before coins start to seriously be hoarded, and usually by then its too late. The Canadian nickel came very close at 4.6x face, but even so - did not cause panic buying at all. The US copper penny has been as high as 3x face.
A guy in india will do anything for a few cents which is admirable, IMO. But in North america, its got to be a 500% profit before we will even think about it. Unless of course - there is some sort of economic disaster.
The common mantra in North America is to simply live beyond your means, try to get six-digit $ into debt, and then declare bankruptcy. Donald Trump style.
BUT: If you can get your hands on some 11-sided two Rupee (non-magnetic) they actually have a better cupronickel ratio than US nickels.
Beaver collector