LCS bought my penny stash

[Mercuryman]

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?

[highroller4321]

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

[knibloe]

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

Congradulations

[Rosco]

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

[bman]

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.

[Mercuryman]

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.

[pennypanner]

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.

[NHsorter]

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?

[joemac]

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?

[Mercuryman]

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

[Mercuryman]

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.

[NDFarmer]

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.

[Mercuryman]

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.

[Dave]

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.

[Mossy]

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.)