Ebay prices of copper pennies sales

[Derek.Sheriff]

So based on the auctions I've been looking at on Ebay, it appears that lots of bidders are prepared to pay a just little over 2 cents per coin -- for pre-1983 copper pennies (when you total up the winning bid price + shipping). And it appears that many sellers are receiving just a little under 2 cents per pre-1983 copper penny (because of eBay listing fees, etc.)

1. Does this reflect the average going rate these days?

If this is does reflect the average going rate, I'm trying to imagine what it would be if the transaction took place in person via craigslist or some other forum, like this one, without shipping costs.

2. How many people here have bought or sold copper penny bullion locally?

[misteroman]

I thought the prices were dropping from what I've heard

[Snake42]

I sell on ebay auctions and buy it now. Everything I have sold has gone for right at 200$. People here want to pay way less and I havent tried selling on craigslist yet. I have bought lots of unsorted pennies from people on craigslist however.

[tinhorn]

I haven't dealt locally. I saw one craigslist ad offering "about" 27 pounds for $75--1.9 cents each. I've sold for up to 9.9 cents each (including shipping), but extremely low volume:

kitco.jpg (56.16 KiB) Viewed 732 times

I'm still working on the magic formula.

[tbram88]

I saw an ad on CL a while ago offering to buy cents for 1.5X but have not seen it lately.

I have my auctions set up at $19.95 for ten dollars face (after fees I usually clear $8.00)
For a while there they were selling so good I sold most of my stash, lately it slowed way down. When I look at auctions I see the prices dropping as more sellers join in.

Bob.

[andrewjackson]

. Why sell now? Inflation is approaching like a runaway freight train. The dollar could very well crash during the next couple year's. Has anyone seen the price of silver? I think in this market all commodities will be going to the moon

[Diggin4copper]

I keep one auction up at all times for 1000 coppers.. seem to sell OK.. I use that money to purchase small lots of silver.. that way I get silver under spot.. little bit at a time..thats my plan

[tbram88]

8-) . Why sell now? Inflation is approaching like a runaway freight train. The dollar could very well crash during the next couple year's. Has anyone seen the price of silver? I think in this market all commodities will be going to the moon

The main reason I'm selling is for every 1000 cents I sell I stack 1800. but now that my Ryedale is paid for I will probably only keep one or two auctions open at a time until they have more free listings.

My main problem is I have more time than money, and selling keeps me stacking.

[silverguy0001]

There sure are alot of auctions for pennies now!

http://shop.ebay.com/i.html?_nkw=copper ... m270.l1313

[VWBEAMER]

I bought $300 face for $375 local
I bought $25 face for $25 plus 12 shipping on ebay.

Most my pennies I paid 1.6 plus shipping for off ebay.

I can not see paying over 2 cents for a penny. Buyers are ripping themselves off on that deal.

[frugalcanuck]

I havent had much success locally in Ottawa Ontario. I dont plan on using e-bay. I think Ill just be waiting untill Im in the states and then hold an auction on here.

[TXBullion]

hey tinhorn , since no one has said it, i like your packaging!

[fusscharles]

8-) . Why sell now? Inflation is approaching like a runaway freight train. The dollar could very well crash during the next couple year's. Has anyone seen the price of silver? I think in this market all commodities will be going to the moon

Id say we are about to see the bulls take Copper taken off the menu... for this year at least. Copper is best when there is good economic weather and inflation shining bright. With the continuation of issues in the ME, and the end of qe II, we should see a dry, thirsty economy, with headline inflation baking all of us (set your broiler to high Q1 2012).

For my current main course, I'll take the seasonal special of gold and silver and maybe a side of my fav oil stock. Palladium and the base metals are obviously on my grocery list, with an expectation that they will be out of stock when GDP starts hitting annual rates of 5.5+.

[HoardCopperByTheTon]

I might have to reenter the market.. to help keep prices low. Haven't sold on eBay in a long time.

[JadeDragon]

Good thing the members of this site created the ebay Copper Bullion category for all those auctions.