Are you Seriously committed to collecting Lincoln cents?

[Petespockets55]

LINK

How long would it take you to search these?
Great Christmas gift idea.

[TPring]

Only $89k and FREE delivery. Score!


Think I would have to take a sabbatical -- I'm game!



* Almost sounds it should be on Alibaba, rather than Ebay.

[Petespockets55]

Only $89k and FREE delivery. Score!


Think I would have to take a sabbatical -- I'm game!



* Almost sounds it should be on Alibaba, rather than Ebay.

The kicker is they warn you to have a forklift because they send them by semi.
(400,000 per bag x 15 bags!!!)

[engine823]

It would take me 10 eternities!!

[VAB2013]

Seems odd to me, why hoard all that copper and then sell it? Maybe they have an insight that our government is keeping the cent around for a long long time.

Says they will sell other quantities as well. If you scroll down to other items, those smaller bags look like the same bag Tpring just got.

[GrumpyEd]

On one hand it looks neat and fun to search.

Then reality sets in.
That price is very high over 2X face value.

Depending on the form of scrap copper it might get $1.5 for brass, anything from $.25 low grade stuff to $2.85 for fresh pure copper.
I think it's not legal to melt cents in the US?? So that would lower the price further.
Then you have shipping costs to get them and to sell them (if you could find a real legal bulk buyer).

In the end, you might not get more than the $1.45 face value per pound.

The only bargain would be if there was a great variety and it still would cost a lot because you'd be buying thousands of normal ones at over 2X face.

[ERRORCENTS]

WOWSER"S. I would be game also to look through all them coppers. I would take my sweet old time, and I am sure you would find great error's in them.

Patrick

[jfines69]

The way Larry searches that may take him 2 to 3 weeks My wife would probably toss me out the house with something like that but it would be fun to try and find that one special needle in the hay stack!!!

[engine823]

Seems odd to me, why hoard all that copper and then sell it? Maybe they have an insight that our government is keeping the cent around for a long long time.

Says they will sell other quantities as well. If you scroll down to other items, those smaller bags look like the same bag Tpring just got.

The thought process is just the opposite. People are buying up copper cents to save just like silver and gold. Currently it is illegal to destroy or melt US currency, but with the talk of possibly eliminating the Cent from our currency all together like they did in Europe, people believe it would then become legal to melt it down.
When I was separating and selling copper cents I probably sold about $5,000 + face value to one local man. He was putting them in 55 gallon drums and was burying them in his yard.
Hoarding metals has been going on for a long time. Most people hear of Silver and Gold but Copper is also hoarded. Copper prices are down now but when they were up crooks everywhere were stealing copper from homes, power companies, etc..
People believe in the future they will be allowed to melt down copper cents and make a good profit.

JUST WENT BACK TO EBAY AND LOOKED AT MY SOLD ITEMS. I SOLD 5000 COPPER US AND CANADIAN CENTS FOR $81 - $82 DOLLARS.

[uncommoncents]

i say, stop the hoarding if your not searching through them for high grades, errors and varieties. its copper and as an electrician, i can tell you that its not a precious metal like silver or gold and theres not a shortage as we recycle all of the old copper we demo and all the scraps from new builds. i started doing electrical work in 1997 and scrap copper sold for $1.50 per lb. , add 20 years of inflation for cost of living to that plus $1.50 per lb and it went up a wopping 7.5 cents per pound each year since 1997. any collector with good cents will save them and if the people who dont collect coins that are hoarding them expecting a big payoff, their going to be upset. math dont lie and if they want to scrap metal for a profit they will use common sense and go collect cans up off the side of the road for a much larger profit, they wont be hoarding good cents just to make enough profit to pay for the gas to get them to the scrap yard, if there not corroded to dust as no one really knows when or if the govt will pennies to be melted down,the cans are free and it keeps our country clean.

[GrumpyEd]

i say, stop the hoarding if your not searching through them for high grades, errors and varieties. its copper and as an electrician, i can tell you that its not a precious metal like silver or gold and theres not a shortage as we recycle all of the old copper we demo and all the scraps from new builds. i started doing electrical work in 1997 and scrap copper sold for $1.50 per lb. , add 20 years of inflation for cost of living to that plus $1.50 per lb and it went up a wopping 7.5 cents per pound each year since 1997. any collector with good cents will save them and if the people who dont collect coins that are hoarding them expecting a big payoff, their going to be upset. math dont lie and if they want to scrap metal for a profit they will use common sense and go collect cans up off the side of the road for a much larger profit, they wont be hoarding good cents just to make enough profit to pay for the gas to get them to the scrap yard, if there not corroded to dust as no one really knows when or if the govt will pennies to be melted down,the cans are free and it keeps our country clean.

I agree with you but some folks love hoarding.

The other thing that backs what you said is, you would have about doubled your money holding copper since 1997. If you bought EE bonds your money would have doubled once and be partly into it's next term of doubling and when that term ends you will have 4 times what you started with and didn't need to haul around and store and guard a hoard of coins.

The same thing is true for silver. If in 1964 you bought EE bonds they would have doubled many times and be way ahead of the increase in silver price. Same deal if you hoarded $20 gold pieces since they were in use, you would have made more with bonds and even with the normal savings account interest and compounding over that period even a bank account beats gold. Hoarders ignore this but hoarded stuff does not compound it's gains or they base it on todays low interest instead of the normal rates over time and that's why they misinterpret the comparison. When people are very old they aren't in a position to cash out a hoard at a good price, they're lucky if they can walk to the restroom and if they sell stuff it's a fire sale.

But don't get me wrong, a little hoard is fun, I always dreamed of swimming in a money bin of coins like Uncle Scrooge

[jfines69]

If it's a fire sale then the copper can be recycled legally

[TPring]

If it's a fire sale then the copper can be recycled legally

...and, before it cools off, be sure to shape it into something useful.

[GrumpyEd]

...and, before it cools off, be sure to shape it into something useful.

They can plate the 10 billion zincolns for next year.

[Petespockets55]

Better hurry.
They've been marked down to only $80,000.00