Just curious if any of you guys are copper penny horders/sorters?

Copper prices are sorta low right now but a while back copper prices were really high. The melt value of a copper penny is somewhere around 3 or 3.5 cents but obviously face value is just one cent. Currently there is a melt ban so you can't sell it for scrap or melt it but some people are banking on the fact copper prices will continue to rise and the meltban will be lifted.

Sorting/hording copper pennis is sort of like what many people did with old halves, quarters and dimes. They took all the pre 1964 coins out of circulated I think over 99% of them are out and you can sell them for a premium since it's silver.

This thing with copper may sound crazy but the Canadian goveernments mints are actually doing this very thing taking the old ones out of circulated. If the US Gov ever stops making copper pennies and moves to steel or something I think you'll see more people doing this.

If anyone does this or is interested there's a machine out there called the Ryedale which sorts on a huge scale and you can go thru tons of coins. They also make some smaller handfed machines. Personally I just made my own machine out of vending machine parts, wood, and hot wheels track but was thinking about building an autohopper onto it.

http://rulesforrebels.blogspot.com/2011/06/quick-into-to-sorting-co...

there is a link to me showing off my machine if I have a youtube vid of hte machine in action I'll post it as well.

https://www.youtube.com/watch?v=OYJLZVTLuvk&feature=plcp

https://www.youtube.com/watch?v=OYJLZVTLuvk&feature=plcp

Views: 653

Reply to This

Replies to This Discussion

I'll be honest... I'm not terribly interested in the penny hoarding. But the fact that you built your own coin sorter is EXTREMELY interesting. More details?

Same here...very cool!  I'd love to see a photo, or some engineering drawings.

yeah if you like the design engineering aspect of it ill take some more pics. my roomate likes to tinker too even tho hes not into penny hording hes messed round and built a few too. his has like a popsicle stick and works by weight so the heavier coppers drop and the zincs go around to a diff pile it sorta has a coin roll which works as an autohopper too. ill take sum pics of his design and post.

mine uses a coin comparator from a vending machine. mine will also work with silver coins as well i dont believe it works off weight i think it sends an electric current thru the coin and diff metals react differently so if it doesnt compare to the sample coin in there it gets rejected to a diff pile. i got it from a vending supply comp for like $15

ryedale makes a cool machine super expensive tho i think there's another cool design on the market called the copper king. im at work but will post more details later

If the US Gov ever stops making copper pennies and moves to steel or something I think you'll see more people doing this.

Current pennies are zinc that is very thinly clad in copper, making melting them tricky to useless at best - the last full copper pennies were in 1982 or thereabouts. You'll have to add in a sort by weight, since the zinc pennies are slightly lighter than the copper ones - to make use of this.

Edit - sorry, I hadn't clicked through your links - that seems to have been addressed. Still worth mentioning, so people don't just grab any pennies and think they're the next copper magnate ... 

there's some cool youtube vids where people people melt the zinc out of coppers over a stove u just see the zinc fall right out of the coin.

Oh, and although pennies are legal tender, the IRS has had a dim view of folks who show up to pay income taxes with a load of loose pennies.  (Reputedly this came to a head in the early 1970s when someone showed up at an IRS Service Center with $1500.00 tax bill and that amount in loose pennies in the back of a truck.)

i notice sum people mad about college tuition rises trying to pay in pennies. i was under the impression if it was for a debt or for gov they had to take them but i think people are passing laws or at the very least making writeen policies about we will only take x amount in change

RSS

Latest Activity

Jack Bauer replied to Dan B's discussion How to negotiate a higher salary?
"The best way to ask for a raise is to show the decision-maker the value that you bring.  It's better to start with a preliminary discussion about what specific benchmarks your supervisor would like to see met.  Then, when you make the…"
4 hours ago
Liam Strain replied to James's discussion When can a kid pick his own damn hairstyle?!
"My 5 year old has not shown any interest except "I don't want to get a haircut" - but not for style reasons. That said, I think if he did care, we wouldn't much. "
5 hours ago
Dan B posted a discussion

How to negotiate a higher salary?

From my previous post, I mentioned that I am currently a temp for a corporation. This past week my boss said they want me in for a permanent position. It looks like I'll be getting hired as a permanent employee. I would greatly want a higher salary though. As a temp I'm getting $20/hr without the benefits. The employees who currently work there started off as temps. I asked around and they said their hourly rate went up when they became permanent employees.My question is, how reasonable of an…See More
5 hours ago
P. Dictus Magister joined Chris O.'s group
Thumbnail

Gentleman Conservatives

A meeting place for gentlemen who believe in Conservative values and principles.
9 hours ago
R. Max replied to Pale Horse's discussion General Election 2016 in the group The Great Debate
"Wow. Much violence. Very death."
11 hours ago
Pale Horse replied to Pale Horse's discussion General Election 2016 in the group The Great Debate
"You can have my memes when you pry them from my cold, dead hands."
11 hours ago
R. Max replied to Pale Horse's discussion General Election 2016 in the group The Great Debate
"She wants to take away our right to meme. wow."
14 hours ago
S.M. BUCHANAN commented on James Machamer's group Freemasonry
"yes I know 3-5-7, but for Montana Masons 3-7-77 has special meaning."
16 hours ago

© 2016   Created by Brett McKay.   Powered by

Badges  |  Report an Issue  |  Terms of Service