Turning a hoard into a collection. Help

[Guest]

I have been a wheatback hoarder for awhile. I'm slowly going through everything I have, and I'm finally ready to turn my hoard into a collection. I'm getting organized and I realized I have a ton of duplicates I don't need, about 1200 wheaties. I really need your advice on what to do with my extra cents. Do I keep them for their copper value in my closet, or sell them off? Bulk or pull out the nice ones and sell those separate? I'm not sure I still want them all, I've learned its about quality, not quantity. Any suggestions would be great!
(:

[simonm]

I too am working on a wheat set...it certainly can take a while.
I would say look through them and pick out the nicest coin for every date that you have. These will be your "starter" coins forthe collection. Later on, once you complete your set, you can "upgrade" them (selling off the ones you have and buying nicer examples). As for what to do with the extras, I have a bunch on-hand and in ziplock bags. Some I return into circulation, as I don't consider myself a copper hoarder. The rest I store away to check for varieties later on, and the ones I search either go into a jar meant to be taken to a Coinstar or they go back in the bag so that I can have some bulk to sell of at a later date.
I've got a bunch of duplicates as well. If you are looking for certain common/uncommon dates that you don't have, you can PM me a list and I would be happy to send some your way to help out.

Starting a collection/set can be exciting, but don't rush into it. Take your time in picking out the harder to come by dates so you are satisfied with the coins that you will put in your collection.
Keep up the hunt and have fun!

[mudd]

maybe, make a few sets and hang on to them.

[GrumpyEd]

1200 is a pretty small hoard.
I would keep them.

If you see some coin folders for cheap you could get about 10. That way you can start filling up sets and try making one the best set.
It's an easy way to limit the number of duplicates you have. Then maybe sell or trade the extra duplicates for ones you had less of.

[coppercoins]

hmm...hoard.

try sorting about 400,000 coins. That's a hoard.

[WaterSport]

Chuck I have got rid of everything but my raw set which I keep in a Capitol Plastic Holders and my certified set. I have one half tube of cents which is my "gamble" tube of cents bought on ebay. Eventually they will end up in a Coinstar. I have 2-3 old blue Whitmans that I just hang on to give to some YN someday. - THATS IT> when I replace a coin, I immediately get rid of it.

So make a set you like, and GET RID of the coins man, screw the Copper value and all that other "investment talk". for all the holding on to of extras is keeping you from getting a cent you need ora better example. JMHO

Bob

[jcuve]

Keep them, without question. Add more and more. Have fun!

[coppercoins]

Bob - Not to hijack a thread here, but the reason I have so many is because I bought them cheap over a number of years and haven't been through any of them yet. The varieties and high grade coins found in them were to be my retirement nest-egg, and now I'm tired of looking at it. I wasn't hoarding for the purpose of hoarding or investing...I just never got time to search these few rolls. I searched the other 200,000 rolls and promptly got rid of them.

[Becca]

Thank you all for your advice!

[Rollem]

Becca, nice problem! I have found myself keeping them.

I can always rid myself of the oldies.

James (Now where did I put those wheaties)

[admrose]

I'd get rid of them. If the Mint ever revokes their prohibition on melting cents for scrap the price for copper will plummet and you'll find yourself with a large amount of cents on your hand that you'll have to find a way to liquidate.

[Maineman750]

I'd get rid of them. If the Mint ever revokes their prohibition on melting cents for scrap the price for copper will plummet and you'll find yourself with a large amount of cents on your hand that you'll have to find a way to liquidate.

You do realize we are talking about $12.00 worth of cents,right ?
And that copper cents will not fall below face value no matter what the price of scrap copper is ? You can always spend them

[mustbebob]

If the Mint ever revokes their prohibition on melting cents for scrap the price for copper will plummet and you'll find yourself with a large amount of cents on your hand that you'll have to find a way to liquidate.

I never see this happening. Copper is a much needed resource, and not just for coins. Even if the coins were allowed to be melted, what makes you think everyone will do that? If more copper is available on the markets, it merely means less will be required from mining operations. You also need to remember that copper cents ceased being made in 1982, therefore, the only copper that could be melted and sold if the mint lifted the ban is pre 1982.

[admrose]

I never see this happening. Copper is a much needed resource, and not just for coins. Even if the coins were allowed to be melted, what makes you think everyone will do that? If more copper is available on the markets, it merely means less will be required from mining operations. You also need to remember that copper cents ceased being made in 1982, therefore, the only copper that could be melted and sold if the mint lifted the ban is pre 1982.

A 2500 cent circulated box will typically yield about 450-600 copper cents; they're not hard to get ahold of. Imagine if all the people stealing copper pipes for scrap value were picking up five boxes a week from the bank. Not only a steady stream of revenue (initially), but also legal if the prohibition is revoked. More scrap copper means less is needed, ergo the price for copper will drop accordingly. The only problem would be if the price dropped below $1.53 a pound, in which case you'd be losing money by selling them as scrap.

[Maineman750]

Imagine if all the people stealing copper pipes for scrap value were picking up five boxes a week from the bank.

I can't see thieves going to all that trouble for about $25 profit a week