Peanut's Potent Plethora of Profit

[peanuts]

...
In April copper was up another 14%, and in May another 4.2%...

June, copper up 5.7%

Since February, copper is up from $1.54 to $2.30 per pound in June. That's a nice move of 49.35% You could have made a pretty penny from this...

Speaking of pennies, prior to 1982, pennies were made of 95% copper, and 5% zinc. That means that each one of these pennies minted during that time is worth more than just a penny in metal value... actually, 1.53 cents each as of today's copper price of $3.3087

Today's pennies are made from copper coated zinc, and their metal value is only $0.0041 each. I thought I remember reading somewhere that the penny may no longer be made, or if it is, it might be made of steel again.

Anyone collect pennies?

[billyjoe]

Peanuts,
My ceiling is about to cave in. The wife thinks I'm nuts but she has thought that for years. I'll sell at $1.00 per roll.

------------billy

[skiracer]

Peanuts,
My ceiling is about to cave in. The wife thinks I'm nuts but she has thought that for years. I'll sell at $1.00 per roll.

------------billy

billy,
do you have many of the corn pennies? i would be interested in them.

[billyjoe]

billy,
do you have many of the corn pennies? i would be interested in them.

Ski,
I'm hoarding them also. About 30% of pennies in circulation now are 95% copper and about 1 in 500 is a wheat ear (before 1959).

--------------billy

[peanuts]

Peanuts,
My ceiling is about to cave in. The wife thinks I'm nuts but she has thought that for years. I'll sell at $1.00 per roll.

------------billy

Ski,
I'm hoarding them also. About 30% of pennies in circulation now are 95% copper and about 1 in 500 is a wheat ear (before 1959).

--------------billy

Isn't that price a bit outrageous? I did a quick search on eBay for cents and there are actually a lot of listings there for copper cents. There is a guy, username pennybullion, that sells them by the ton, half ton, and hundred+ bags. Nobody has a price near 2X face.

Where did you get those percentage figures? If 30% of all circulating pennies are copper, shouldn't we all be watching our change? Seems like an easy way to make a risk free 50% return.

[billyjoe]

Peanuts,
I've been going thru thousands of pennies a week for several weeks now and the % is holding at about 30%. But I really want to make my fortune on silver especially if hyperinflation hits. Should I be hoarding now or wait for another drop.

--------------billy

p.s. I'm washing my hands often and really should be wearing ultra thin gloves. Copper poisoning is a real possibility.

[billyjoe]

I just read that egg whites and milk nullify copper toxicity.

------------billy

[peanuts]

Peanuts,
I've been going thru thousands of pennies a week for several weeks now and the % is holding at about 30%. But I really want to make my fortune on silver especially if hyperinflation hits. Should I be hoarding now or wait for another drop.

--------------billy

p.s. I'm washing my hands often and really should be wearing ultra thin gloves. Copper poisoning is a real possibility.

Thousands of pennies per week? How do you do that? Do you have sorting equipment or something? What do you do with all the other pennies?

I never thought that copper poisoning could be a problem from handling pennies. From what I read, the toxicity was only experienced by people working in copper refineries. And I also saw that egg whites and milk alleviate the symptoms, as well.

Silver seems like a no brainer at the current prices... also experienced a nice little uptick mid-day.

Alcoa earnings will be interesting to see. With the big move today, and the low price, I'm considering a straddle play.

[mrmarket]

I collect coins...wanted to pass my collection on to my kids, but they seem more interested in Call of Duty these days.

[skiracer]

I collect coins...wanted to pass my collection on to my kids, but they seem more interested in Call of Duty these days.

i collect them also. do you buy any of the yearly sets from the US Mint. i have been buying the silver proof mint sets of the state quarters since the inception and each years coin sets for years now. did you buy the St. Augustens high relief gold coin they minted for the first time this year.
anyway i have about $75 of silver quarters that i am looking to sell. would you be interested or anyone else.

[billyjoe]

[quote=peanuts;100250]Thousands of pennies per week? How do you do that? Do you have sorting equipment or something? What do you do with all the other pennies?

I never thought that copper poisoning could be a problem from handling pennies. From what I read, the toxicity was only experienced by people working in copper refineries. And I also saw that egg whites and milk alleviate the symptoms, as well.

Silver seems like a no brainer at the current prices... also experienced a nice little uptick mid-day.

Alcoa earnings will be interesting to see. With the big move today, and the low price, I'm considering a straddle play.[/quote

Peanuts,
Just went through another 1000 pennies. Found 295 copper (pre-1982) assuming they are woth 1.4 cents each I just made about $1.20 if somebody would pay for them. If it took me an hour not counting re-rolling them, you can see it's not a money making deal. Just something to do while watching tv or listening to the radio. A relaxing hobby at best. And of those 1000 pennies 1 was a wheat ear 1944-s so it's worth a few extra cents and sometimes you find dimes rolled in with the pennies. I'm quitting this by the end of the month unless I discover a great rarity which probably won't happen.

-------------billy

[peanuts]

I found this website: COINFLATION

It tells you what the coins are worth based on the metal content

[peanuts]

SHS top in the SPX

"Mildred, come look at this trainwreck about to happen"

[billyjoe]

Update, just went through 1500 more pennies. Somebody must have emptied an old jar. Found 789 pre- 1982 that's nearly 53% included were 107 wheat ears pre-1959 a couple from the 1930's and a couple 1920's. Also a bonus of 1 dime.

-------------billy

[peanuts]

Update, just went through 1500 more pennies. Somebody must have emptied an old jar. Found 789 pre- 1982 that's nearly 53% included were 107 wheat ears pre-1959 a couple from the 1930's and a couple 1920's. Also a bonus of 1 dime.

-------------billy

That's a hell of a return.

$15.00 invested
682 x .0141927 = $9.67 (per coinflation)
107 x .04 = $4.28 (per eBay prices for wheat ears)
711 x .01 = $7.11 (face value of non-copper)

$21.06 total value, or 40% immediate return with 0% risk

But maybe it took you 1 hour to sort those 1500 pennies... you only got paid $6.06 an hour! What is minimum wage?

Check this thing out: http://www.ryedalecoin.com/
YouTube video


That thing can really speed up the sorting process... maybe you can make $15 to $20 an hour with it and a 30% copper ratio. Of course, you'd need to find a market to which to sell them.