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Old 09-21-2010, 12:31 PM
KidCanada KidCanada is offline
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Quote:
Originally Posted by tankman1989 View Post
My point was that there isn't much that can be done on a personal level. I can think of only a few things that the average person can make with gold or silver and that is jewelry, silverware, light reflector (mirrored silver), dental work (gold). I know that both have a lot of uses in industry, especially silver in electronics.

AS far as copper you can make tools from it much easier than you can steel if you are doing cast work, and don't need the strength of steel. It seemed to work for centuries (bronze age) and can also be made into brass.

The thing is about the pennies is you can actually make money by sorting them. I got about $200 of pennies and sorted them in about 4-5 hours. When I was done I had about 50 lbs of copper pennies out of the ~123 lbs total. That is $73.70 in face value of pennies and I have the remaining $126.30 in pennies to cash in. The 50lbs of copper pennies is worth about $176 so add this to the 126.30 remaining and it comes out to $302, which is a nice $102 profit in just 4-5 hours. $20-$26/hr

I feel confident that the price of copper will soon go higher, maybe to the $5 mark. At that rate, those pennies will be worth $250 and my time will have been worth $176 for 4-5 hours or $35-$44 / hr!

If you are interested in this, you can buy an automated coin sorter for not too much, some can do 18,000 per hour! If all things were equal to the above numbers then you would be making $147 per hour (at $5/lb copper)!
It is illegal to deface or destroy currency. Unless your melting it down yourself, and selling copper bars, your 100 pennies will always only be worth
$1. nothing more. and if your caught, then you can face stiff fines, etc..

An interesting idea, but needs to be worked out a bit.

As a SHTF idea its great. copper will be very valuble as a trade item, or to make simple tools and machines.

As a money making plan NOW, it kindof stinks as mentioned above. Although the churches in our area have been having the copper roofing stolen for about the last three years. same with manhole covers. they just go missing and get ( i assume ) sold for scrap.
Old 09-22-2010, 10:41 PM
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Quote:
Originally Posted by Sgt.Sausage View Post
If I've got, say, $10,000 to invest -- I can buy $10,000 worth of gold or $10,000 worth of copper. In either case I've invested 10 grand. Sorting through the pennies to find the true copper ones, hauling, running around to find enough pennies, and the hassle of storage ... it's not worth the couple of hundred extra bucks. I have much better things to do with my time that are worth, in the long run, far more than I'd make on ripping copper pennies.

If you bought 10,000 dollars worth of gold, how much gold do you have?

The answer is 10000 dollars worth.


If you buy 10000 dollars worth of copper, specifically 10000 dollars worth of pennies, how much copper do you have?

The answer is 22331.90 dollars as of right this minute.


A ryeldale machine can go through 10000 dollars worth of pennies in a few days.

I don't know about you, but for me, its worth 3 or 4 days of my time to make 13000 dollars.
Old 09-22-2010, 11:16 PM
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Quote:
Originally Posted by countryboy123 View Post
If you bought 10,000 dollars worth of gold, how much gold do you have?

The answer is 10000 dollars worth.


If you buy 10000 dollars worth of copper, specifically 10000 dollars worth of pennies, how much copper do you have?

The answer is 22331.90 dollars as of right this minute.


A ryeldale machine can go through 10000 dollars worth of pennies in a few days.

I don't know about you, but for me, its worth 3 or 4 days of my time to make 13000 dollars.
unfortunatly penys are only copper clad now they are zinc that would be 2.5 metric tonns of pennys and roughly 5000 in zinc and a few hundred dollers in copper at todays spot price


1793–1857 100% copper
1857–1864 88% copper, 12% nickel (also known as NS-12)
1864–1942 1946–1962 bronze (94% copper, 6% tin and zinc)
1943 zinc-coated steel (also known as steel penny)
1944–1946 brass (94% copper, 6% zinc)
1974 Experimental aluminum variety
1962–1982 brass (95% copper, 5% zinc)
1982–present* 97.5% zinc core, 2.5% copper plating
Old 10-04-2010, 02:25 AM
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Gold/Silver is almost like an international currency... Not so much for copper though... I know most of you probably would wanna stick around in America but just for a second let's think that the poles somehow somewhat shifted and North America is the new North Pole... Are you gonna stick around? I saw in couple postings that people even think toilet paper is going to be a tradeable item... You know, some people in other countries don't give a sh*t about copper or toilet paper...
Old 10-04-2010, 08:05 AM
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Originally Posted by antivirus4u View Post
Gold/Silver is almost like an international currency... Not so much for copper though... I know most of you probably would wanna stick around in America but just for a second let's think that the poles somehow somewhat shifted and North America is the new North Pole... Are you gonna stick around? I saw in couple postings that people even think toilet paper is going to be a tradeable item... You know, some people in other countries don't give a sh*t about copper or toilet paper...
I have been seriously looking into Uruguay as a viable BOL
Old 01-30-2013, 08:12 AM
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If you're going to put *something* away as a hedge against inflation, commodity price increases, whatever, doing either nickels or pennies can make sense.

And for me, pre-zinc-planchet pennies (the pre-1982 ones) make far more sense than nickels. You can see why I think that in the thread here:

"Pennies instead of Nickels"

http://www.survivalistboards.com/sho...d.php?t=169558

Most who argue about the value of nickels versus pennies do so either because they don't want to spend the time to get the more investment-effective pennies, or simply drink the Rawlesian kool-aid. Rawles doesn't want people to stock pennies because, well, he advised nickels.

Now, if you absolutely don't have the time to do the penny thing, nickels are better than nothing. But in the end, pennies are the more effective investment device. Oh, there are also those who will argue nickels store better, and in terms of their face value, they do; but in terms of their MELT VALUE, they don't. And in the end, it's melt value that is the issue, not convenience of storage.


I've done the penny thing, and still do. I can see, in a penny cup at a register, which pennies are "old" and which are "new," and do so with astounding accuracy. The new pennies often have an almost pink hue, and the rims on even slighly worn new pennies don't show up as pronounced as the 95-percent copper pennies.

And one really interesting thing about pennies is this: I'm not too worried about a thief stealing my pennies. If it were gold or silver, sure, but pennies are...heavy. Right now, pennies are worth...a penny. So no thief is likely to get much more than a backache trying to steal them.

FWIW: Check out Ebay to see what these copper pennies are going for. It's astounding that you can already see people willing to buy pre-1982 pennies for more than face value. Here's an auction with 3 hours to go where $100 face in such pennies is going for $148--plus shipping! I've seen $15 worth go for $25 plus shipping lately.

http://www.ebay.com/itm/100-Face-Val...item2a28800b9b

I *could* sell mine this way...but it's not time yet. I believe that at some point the mint will stop producing pennies, and we'll be allowed to melt them down. When copper gets up in the $4-4.50 range, those pennies' melt value will be 3 cents apiece. I'm waiting for better than that.

Last edited by goose3; 01-30-2013 at 08:45 AM.. Reason: Forgot to include the Ebay link
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Old 01-30-2013, 09:14 PM
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Are you allowed to sell money on ebay? I'm not too familiar with the rules. I know you can buy collectible money, like shipwreck coins and silver notes, just didn't know about straight money.


Quote:
Originally Posted by tankman1989 View Post
My point was that there isn't much that can be done on a personal level. I can think of only a few things that the average person can make with gold or silver and that is jewelry, silverware, light reflector (mirrored silver), dental work (gold). I know that both have a lot of uses in industry, especially silver in electronics.

AS far as copper you can make tools from it much easier than you can steel if you are doing cast work, and don't need the strength of steel. It seemed to work for centuries (bronze age) and can also be made into brass.

The thing is about the pennies is you can actually make money by sorting them. I got about $200 of pennies and sorted them in about 4-5 hours. When I was done I had about 50 lbs of copper pennies out of the ~123 lbs total. That is $73.70 in face value of pennies and I have the remaining $126.30 in pennies to cash in. The 50lbs of copper pennies is worth about $176 so add this to the 126.30 remaining and it comes out to $302, which is a nice $102 profit in just 4-5 hours. $20-$26/hr

I feel confident that the price of copper will soon go higher, maybe to the $5 mark. At that rate, those pennies will be worth $250 and my time will have been worth $176 for 4-5 hours or $35-$44 / hr!

If you are interested in this, you can buy an automated coin sorter for not too much, some can do 18,000 per hour! If all things were equal to the above numbers then you would be making $147 per hour (at $5/lb copper)!

I'm with pammygene, sendkeys, mikek and kidcanada, and I haven't seen a response yet. I don't follow you, do you intent to smelt them down and sell them for scrap? That's illegal. You mention both: making tools and things, but you also focus on the hard monetary value

Or are you talking about holding onto them for their metal value after a collapse?




[quote]Aluminum will be another story. A lot of people don't realize what it takes to get aluminum. Boxite ore would be extremely difficult to refine post shtf. There is a reason the Washington Memorial was capped with 100 oz of aluminum. At the time (1884) silver and aluminum sold at the same price (1 dollar per oz)
The Hall–Héroult process permanently collapsed the price of aluminum. However, in a TEOTWAWKI world, the mega voltage required to smelt aluminum will preclude the production of aluminum and it's back to the ultra expensive processing methods. A few tons of aluminum stock stands to be worth a lot in that time.[quote]

By cwi555 ^^^

That's why aluminum is the only thing really worth recycling nowadays. Most if not everything else costs too much money to recycle, vs just making new stuff. Aluminum is too 'hard' to get out of the earth to just throw it away.
Old 01-30-2013, 09:32 PM
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ANOTHER old thread bought up. Guess what? In an economic collapse I dont want your pennies or nickles! In reality neither will anyone else.

This is that guys first post, he is after you tube hits, thats all. Thanks for playing.
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Old 01-31-2013, 12:49 AM
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Originally Posted by sigmund View Post
ANOTHER old thread bought up. Guess what? In an economic collapse I dont want your pennies or nickles! In reality neither will anyone else.

This is that guys first post, he is after you tube hits, thats all. Thanks for playing.
The problem is you NEED a medium of exchange, otherwise bartering becomes difficult. For example, I'll take silver for a generator, then I can take the silver and buy a gun, but finding someone who has a gun for sale and ALSO needs a generator is tough.
Old 01-31-2013, 02:34 AM
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Some people seem to think they are worth more than face value...

http://www.ebay.com/csc/Coins-US-/25...H_Sold=1&rt=nc
Old 01-31-2013, 10:16 AM
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Originally Posted by sigmund View Post
ANOTHER old thread bought up. Guess what? In an economic collapse I dont want your pennies or nickles! In reality neither will anyone else.
My pennies are protection against a specific variation of SHTF event, one involving primarily hyperinflation. The pre-1982 pennies are mostly COPPER and if we hit a hyperinflation scenario, that copper value will spike. The feds will stop making pennies as with hyperinflation, what good will they be? You'd need a wheelbarrow's worth to buy a loaf of bread.

But the copper in copper pennies? Priceless!

If we have a total collapse, well, they won't be that useful. But I have other preps for those other scenarios.
Old 01-31-2013, 11:13 AM
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I did notice one thing recently and that is they old coins are disappearing quickly these days. My dad was a collector of coins and I still have his collection (do not intend on selling it because it was my Dad's). the same thing holds true for the old Nickels. Over the last few weeks I am seeing only the new crap out there. GB
Old 02-01-2013, 11:27 PM
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You can still find a few 40% half dollars if you get a case. Not many. Not enough now to make it worth my while...
Old 02-01-2013, 11:37 PM
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The bottom of my gun safe is weighted down with wheat pennies. I never got around to the nickels. I think that is a mistake. I have a hoard of silver dimes. My silver halves and dollars are collection.
Old 02-02-2013, 11:04 AM
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I wouldn't waste my time with pennys. I'd rather go mow someones lawn and take the money and buy an ASE.
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