My Copper Penny Retirement
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- เผยแพร่เมื่อ 19 ส.ค. 2012
- Hyper Inflation is Coming! Protect Yourself with Pennies?? Check out coppers current value at www.coinflation.com. I also have a land sales site at www.landsforless.com if you are interested in some land.
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Gold is the money of kings, Silver is the money of the citizenry, Debt is the money of slaves.
Backwards mate debt is is the money of kings
A lot of stupid Kings
My time machine broke and I didn't have enough power to get back far enough, my good friend you're on the right track I hope these last 9 years haven't treated you too badly
I'm just imagining him with Kramer's voice.."Pennies!! It's ALL ABOUT Pennies, Jerry!!"
Copper is called the poor man's silver. Why? Because if you invest in copper, you will be poor.
if u bought 5000 in copper pennies 3 years ago and the same in silver, which one kept it's value,,,
+jplattimore *drops mic
+jplattimore Worst case scenareo if the bank won't take them, is just take a trip to the nearest coinstar, and you only lose 10% of the face value if the melt value tanks. So really there isn't much risk at all. Just a lot of storage space required.
+breotan ha
If you have a bunch of rare pennies worth thousands he would make a lot.
People forget to invest in themselves. Time and effort hording metals should not be at the expense of learning new skills or starting a new business.
YOU ARE TOTALLY RIGHT, charging money for your skills pay more than doing metal collection,............ ..................I'm not saying that it is wrong, as a hobby or micro investment to keep you busy is cool.......................however if you fix computers, plumbing, even gardening, etc in few hours your capital grow a lot, consideration that you only are investing your time.
That's part of what is killing us now as we've got a service based economy. We don't make anything, there are no factories their all rust buckets now. The government drove away all those jobs by over regulation and taxes. There won't be anyone that can afford to fix anything, we're a nation of consumers and when that stops what have we got left. There are good reasons our grandparents that survived the depression never trusted banks and hoarded food and water. The lived through the soup lines, my grandmother and her family lived in a huge camping area for years. My grandfather hit the road with his brothers at 15 because there was no food. People have no idea and this one is likely to be much worse.
You people disappoint me.
That's just it I'm afraid these fools are going to mess things up.
Not8upwthit I work in a factory. People will always need airconditioners, airconditioners will always need scroll compressors. Oh and my dad has a farm so.
3:32 ''I don't remember exactly what it cost me''
That's what people say when they know they paid way more than they should of have
3.5 years later... We still have pennies.
lol
+AnonCudi no more in Canada
+MagnumDB Considering that he's doing for retirement, he might still have 15-30 years before retirement. I doubt that he is putting 100% of his money into pennies, and if he is then hopefully his investment pays off otherwise he's screwed.
+Sulfen I don't know about screwed, pennies are still worth pennies.
+tjfreckles1995 US currency loses value at an annual rate of 3% due to inflation. The past couple of years with Obama as president have been some of the lowest in recent history but they're still high.
So if he retires in 10 years, he could lose between 15% to 30% in face value on those pennies. Typically you don't want to invest in something that loses value which is why companies don't keep their assets in cash, they spent it on things that will keep its value or grow in value and is liquid enough to turn into cash right away.
3:34 "I don't remember exactly how much it cost me" - International symbol for "It costed more than I would admit paying"
I would give you my 2 cents, but it looks like you don't need it.
Ryan
Guffaw!!!
Hahahahaha
Lol
Fill your basement with pennies to make a few hundred bucks in 50 years.
Lol what will matter is the purchasing power. I'm in my 50's and I can remember collecting a few coke bottles and steeling them to 7-11 for 25-50 cents and coming out with bags of candy and a coke. A loaf of bread at 7-11 in those days was like 10 cents and you always pay more there. That's what we've done to our money in just my life time. When the bottom falls out you may well wish like hell you had $50 because prices will collapse. That's a big part of what the Banksters are fighting, they want things to cost a lot. So hang on we're going for a ride...
try more like 1,000 or more if you fill up your basement.
Selling them to 7-11 lol--- hell just look at a dollar chart over the last 20 years.
Lol, at the very least he could swim around in the pennies like Scrooge McDuck.
Don't listen to the herd, keep stacking that copper ;-)
I think the robber will making more money suing you for back injury then carrying those copper away. Lol
lol
do you english child
Bro, do you speak any other languages other than English? if not, you are a douchebag.
Lol xD
Austin wtf is wrong with you?? He spoke perfect English
"daddy we're hungry, can we buy some food"
"no damn it i need to buy more tubs to store all of our money in"
So how much money do you have? $2000?? Lol. Nice retirement fund bud.
+Farmer Nate Looks like less than $1000 to me.
+Farmer Nate It's not like he's retiring next week, I'm sure he has plenty more to save up before he's done.
+Farmer Nate
Minus the investment in that sorting machine, the dollarstore cans, time spent, possible medical costs for copper poisoning and a back hernia. xDDD
+milo this had me laughing for a while.
+Farmer Nate I counted $1000 in the boxes assuming they're all full. Dude is killin' it.
Best part of investing in 95% copper cents is #1: you don't have to worry if they're real or fake coins. No one will bother to counterfeit these due to low value & #2: It's hard to have them stolen as the weight prevents them from being easily lifted. Lastly it's a no risk investment costing 1 cent a piece. If in a cash crunch you need to turn them in it's a bit of effort but fully liquid at a bank or sorting machine.
I do this as a side hobby and it's meant as a very small supplement to my gold and silver stack.
It's great because you can basically get them for free.
I found on average $6 worth of copper per $25 box. It is kinda relaxing to sort through them. Then a contact at the bank informed me of $100 worth of rolled pre- 1982 pennies they had, a lot of wheaties, where to put them .... lol
One good thing about copper pennies is that they can be exchanges in as small a unit you like unlike an ounce of silver coin which you would have to trade as a whole and costs way much more. Pennies are already fractionalized to the max ;)
Yes, It's a perfect barter currency for small things, specially when copper costs more and the copper pennies are harder to find. Plus there is the collector value.
Even if things don't work out and we don't lose pennies, he has saved up a lot of money that he would normally be spending.
+Jasiah Cisco Yeah. Way to find a way to save money that earns no interest. I hate free money too. It really pisses me off when I start out with one sum of money, and after a bit of time without putting more money in I have more.
Cody Kehrer Kinda depends on how you store it. Financially successful people don't put millions of dollars in a bank earning 0.025% interest per year as a way to make more money. There are lots of ways to place money into a fairly secure location that will earn you more interest than you will get with that money in a checking or savings account. The more potential for earning interest the less secure (as with stocks and such).
Storing money at home is dumb.
Dumb really is the best word for it. It lacks insight/understanding/information.
Cody Kehrer From a quick google search:
www.cbsnews.com/news/higher-yield-10-smart-ways-to-earn-more-on-your-money/
Copper is a good investment. As soon as they stopped making copper pennies in Canada, I knew copper was going up.
In the UK, our new pennies are made of steel coated with copper, so at least here a magnet would sort them out.
Looking through the pennies for errors & double die pennies could make your investment even better! Also if you go to the bakery dept at your grocery you can get small empty icing containers usually for free; tell them you need them for gardening.
Copper price in August 2012 = ~$3.40 per pound.
Copper price on December 2015 = $2.08 per pound.
Copper down 38.8% since 8/20/2012 to 12/15/2015
Dow 30 Index up 33.57% since 8/20/2012 to 12/15/2015
2022 update copper hit $5 this year
Nickels are easier to store and no sorting necessary. If you want to do the work and get a sorter then pennies are a better return albeit you have to do the work and sort. My sorter didn't work and I returned it and returned all my pennies. Went to a nickle hording with the $100 boxes from the credit union. Nickels may change composition so I would get some now before they decide to change composition, at that time they will probability be driven out quickly then you would need to sort as well. Also with the current war on cash, this is a good way to have cash as the gov's of the world start X'ing cash and make all transactions taxable, trackable esp if/when neg interest rates start up. Get cash, may as well get something that is valuable not paper if you have the storage space!
It is illegal to destroy or smelt money, as it is a property of the gouverment of the state.
You can face jail time for smelting copper coins into copper bars!
Yes, for now. Nations in Europe and Canada have discontinued pennies and eventually the United states will also, at which time it will become legal. It costs 1.8 cents to produce a penny. The U.S. lost 105 million last year just producing pennies and Nickels (9.4 cent production cost) at a loss. Government efficiency at its best. BTW I did a search and couldn't find a case where anyone has been arrested for melting pennies. It looks like an unenforced law.
Not likelly, they will take them back and scrap them, Not allowing random people to do that.
Leaving ammounts of copper to a recycler, and they will have to take youre information like names and numbers to keep track of stolen copper.
Not to worry I've heard they are proposing making all coins out of steel lol. Isn't that sad we used to be a very wealthy country with silver coins and dollars that could be turned in for gold. Today our coins are like arcade tokens and our dollars just pieces of paper. Very sad
***** Actually you are misstaken there!
Even as a Swede i know it is illegal in USA to melt coins, but it is a new law pending, to make it legal.
***** Stop assuming stuff, look it up before you post
has the regret set in yet or are you still riding that penny high?
lmao!
+Jonah Jameson penny high, lol
Copper prices suck but they'll go back up....
WAY up.
I can't do this.
But he'll be alright.
Jason Rasset on what are you basing this bull run on copper?
+zee339
Likely a number of factors.
Now, I don't really know, I'm just guessing.
As China and India continues to industrialise , more copper will be needed.
I feel the price of all metals are also artificially low due to influences in manufacturing such as the silver users association.
Copper, specifically though is in industry, housing, many applications and as the currency expands with global growth, demand will as well.
Smart man. I hope you have held on to these copper pennies all these years. The price of copper is almost $10 a pound right now if melted into ingots. I know it's illegal to melt pennies into ingots but three rolls of pennies equals a pound. That's all I'm saying.
It’s illegal if you go around telling everyone you melted pennies for the metal content.
@@nslouka90 You sound like a Karen.
I never condoned what the man was doing. I was only trying to point out to those making fun of him (for hording copper pennies) that his economic policy was very sound.
Besides, with all the graft and corruption so prevalent in our coutry today, do you really thing anyone even cares about some guy melting down a few pounds of old pennies to salvage the copper.
Speeding on the interstate is illegal too. But when kept within reason, the cops won't do a thing.
Besides all of that, we will soon be a cashless society. What will the govt. do with all that change when it's turned in?
Melt it down.
My great grandad lived to be 98 years old, born in the 1880's. He raised and educated three kids, lost two good women to illnesses easily cured today, built three successful businesses without a college degree and minimal state and non-existent federal government regulations. He witnessed a lot of changes in the world; good and bad, wondrous and sad !
He told us as children about the radical (and illegal) Executive Order President FDR executed shortly after his first election. He took the U.S. off the Gold Standard just for starters. That's one of the things that made the economy worse during the Depression. Government Interference in our economy was rampant and WW2 saw politicians grabbing MORE powers they were never supposed to have.
(That payroll deduction system was supposed to STOP when the war ended.
They Promised !!!! As a result people were slower to realize how much the government was demanding because they were no longer writing that tax check TO the IRS !)
Things have gone slowly but surely down hill across the board under overreaching Federal stupidity ever since.
G. Granddad explained what the gold and precious metal coinage system really means. He gave us pre-1965 silver quarters, saying, in effect, that the value of the silver in that coin alone would buy a gallon of gasoline at his service station that day. (Back then it was indeed 25 cents a gallon. Diesel was 6 cents a gallon.) If, in the future, he warned, that became no longer true, THEN it will be time to make sure everyone has a copy of the original Founding Documents and then promptly burn down everything inside that beltway surrounding the District of Corruption and start over.
The feds have been printing up Monopoly money and so have many other governments all over the world for the last 8 years. Others have been hording gold, silver, platinum, ect. Some are doing both !
This Will NOT End Well, and there is plenty of History to back that statement up.
100% !!!
quick question.. isn't it illegal to smelt pennies for the copper?
Yes, while it is a current currency you cannot melt it. once it's no longer produced like the pennies no longer made in Canada other countries then we can legally Melt it
Yes, while it is a current currency you cannot melt it. once it's no longer produced like the pennies no longer made in Canada other countries then we can legally Melt it
+macprepper So even if your smelt the copper directly from the penny, how would anybody know the difference, if not just know that it came from a US penny?
just do it when youre a lone
+macprepper That's based on an unconstitutional mandate forced through congress in 2007. It is 100% constitutional to melt currency.
You are better off "investing" in ammunition. If the shit does really hit the fan bullets will be one of the best commodities there is. Plus you can defend your horde until the very end.
+Sarah Mcgee Actually, he is correct. People made a killing these past few years in the US selling ammo to all the crazies waiting for the end of the world and zombie apocalypse. I watched idiots pay 10, 20, even 30 times the face value of a lousy box of .22 shells.
Sarah, let me guess, you're an overly emotional woman who things feelings are facts right? If things got really bad, what do you "feel" you would be able to trade better copper or bullets? Ignorant EuroTrash.
+Sarah Mcgee obviously you don't no fuck all about anything people are selling ~$18 22lr bullet cases for ~$60-$90 because there's way more supply than demand and that's current day standards
+MonkeyBoyShit more demand than supply lol
+justadbeer Serious. You saw people paying 30X for a box of 22's? Seriously, I walked into the local hardware, plopped down $10 and walked out w/ a box of shells. Walmart, of course didn't have jack. But the local hardware store always had them. Methinks this so-called shortage was largely a created one. You know the small minded people moaning that the gov'ment is going to take our guns away.
Copper ingots are selling right now (March 3, 2020) on ebay for $6 to $10 per pound. That fact changes the economics of this practice immensely. His $25 worth of pennies converted to 16 pounds of ingots will now sell easily for $100 dollars and, depending on the quality of the ingots, may sell for as much as $160. ALL DAY LONG.
Good point about the weight of the bucket. You should use a hand truck to move it, but even after being able to move it, transporting the copper to the factory to sell it would require a truck rental. As an investment, it probably isn't worth the time spent exchanging+sorting the pennies, opportunity cost of storing it, and then the hassle to transport it to sell it. As a hobby, it sounds pretty fun.
LOL he picks up a handful of sorted zinc pennies and put it into his sorter machine and it puts half of them into the copper penny bucket. 3:38
He also picked some up from the copper one
+Chris Newman (Fat Libertarian Dude) I thought the same thing. I'm pretty sure you hear him drop the "copper" ones, before he puts his hand in the "zinc" bucket. It all seems super legit. He probably bought the "copper" sorter from someone wearing a tinfoil helmet.
You do have ears and the ability to process sensory input correct? Then how the bloody hell did you miss that he had half a handful of pennies he had picked up on the copper side that can be heard rather clearly crashing down atop the pennies in the other bin just as he begins to thrust his hand into the zinc pennies on camera, so there would be some of each in the handful he tossed into the machine. As one would quite obviously expect that anyone would do, as opposed to throwing a handful of one or the other type of already sorted coins in the _sorting_ machine if the entire point was to demonstrate the machine _sorting_, which, as you note, it did.
Logic is your friend...
Damn he lost $0.50.
a penny will be worth more then a paper dollar if SHTF is all my man is tryin to tell you..
Today copper at $3.96 ( actually saw $4.03 somewhere per lb)..
$100 worth of pre 82 pennies worth about $268....
Copper now is over 5$ per pound 2024
I use copper to supplement silver and gold stacks, and also as an emergency barter item since it is small denomination and also has real metal value not just face value.
Exactly! The collector value will be higher than the metal value and they are perfect for bartering.
After shooting yesterday I was picking up the brass shell casings. I am not sure of the purity of the copper. Would it be worth keeping or selling back to the reloaders?
How you holding up during the coronavirus!?
Jacob Horvath Been 8 years of #nocopper #coins in #canada #copperkills #saveyourcopper #coppercoins #snapchange
@@AlexSGabor this year was supposed to be the last year of the one cent coin in America but covid happened I hope with this fake coin shortage they get rid of them
i think the reward might be low on copper but with pennies theres really no risk so if you have a place to put it i guess its not a bad idea
Copper is a very important metal. But I'm glad so many people share your opinion and leave copper for me.
Nice video. Thanks for sharing your ideas
Wow that was quick. Thanks for the info.
Hello! I am from 3 years in the future. And let me tell you, you are wrong!
+PigInATuxedo Hello I am from 3 years and 1 day in the future. And let me tell you, you are wrong!
+PigInATuxedo Hello! I am from 3 years, 4 months, 2 weeks and 0 days in the future. And let me tell you, man am I ripped.
Justin Bates Hello Justin I am from 3 years 4 months 2 weeks and 1 day in the future and I am not ripped. Tell me your secrets Justin.
+PigInATuxedo
Me too
+PigInATuxedo
Hahaha!
Me thinks you're right.
"Stock market hasn't done so well"...no no no correction YOU (or your money manager) haven't done so well. So stop blaming the stock market for YOUR poor mistakes.
John L. he could do like our government and invest in something that will lose money - the difference is instead of having to take a loss our government just prints more money and raises taxes. wish it worked that way for me
anthony daniel What are we going to do about it? Might as well try to make some money. We don't have the power to stand up to the government nor do I want too. I like my freedom too much.
9 years later, copper is .27 per ounce (10 pennies) looks like you made a good choice.
10 years later and those pennies have about half the buying power they did when the video was shot.
so worth about one penny? =D
@@MRkriegs Yes. Bad investment.
Male version of the cat lady
the boxes are empty
I saving coins on amazon then got interested in mineral content vs. numismatic value esp.in coins . there are actually formulaes and jargan involved again in regard to coinage. face or melt as opposed to numismatic value etc.hey thx 4 some valuable insight about the most humble denomination of our currencies namely the little copper penny. you are a cool dude thx agan I just subbed
Are those boxes of pennies in rolls or loose? just curious if you bought them in that box form already sorted pre 1982's
Invest in what ever this guy is smoking cause thats some powerful shit
a man after my own heart...I do the same thing. I know some day we will reap the rewards from doing this! keep stacking bro!
Still stacking copper? Lol
@@reecemorton4786 yes everyday
@@JohnnyRockva must have a ton by now
Wonder what my 44,000 lbs of telecommunications wire from the late 1970's is worth now! Years ago we got to do demolition on old phone company control centers. I saved thousands of pounds of computer boards, all the wire, terminals and even the copper heat sinks filled a 1 ton truck bed till it hit the axle. Now I know why I saved it all!
congrats.. u were right.. very cool of u to share, wish i would have listened
If those are NEW pennies their 90% zinc. Pennies BEFORE 1982 are solid copper.
Yup, that's what i heard too, makes no sense for the government to make a coin denomination with a metal that's worth more than the denomination itself. People used to do what this guy is doing right now.
Alonso Quintero And it's why they changed it.
Which is fucking stupid. Why not get the copper back and use it, government is stupid.
Chad O'Dell
Probably not worth the investment.
Did you watch the video? He has a machine that separates the copper one from the Zinc ones.
Shawn Huetter
But that requires employees too. It might as well be that they aren't that smart..... wouldn't be the first time....
If you took a handful of the zinc pennies out of the zinc bucket, why did your sorter put 95% of them back into the copper bucket?
Thank you i noticed the same exact thing, it was bothering me.
Colten Meyer he probably has not pulled out the zinc ones and uses the zinc bucket for when he starts but it may just not work!
Ahahahah maybe it defintiley seems sketchy :p
He grabbed a handful from the copper bucket with his left hand because his right hand was holding the camera, and instead of putting them in the coin loader, he took them to the zinc bucket and tried to grab a bigger fistful to pick up some zinc pennies into his handful, (but that's super inefficient because he dropped some copper pennies into the zinc pile that he isn't going to resort). Then he added the combined handful to the machine.
Goodness that is a LOT! You have an impressive set up.
oh its hitting big fella. Hope you kept up your stack!
Copper is at a low point on it's chart currently so this sounds like a good plan, Also at a cocktail party you can talk about a one metric tonne of bullion, (err copper penny bullion...)
The hillarious thing: Pennies are mostly zinc, not copper.
Only mid 1982 and later are zinc. You must not have watched the video
macprepper Yup, you're absolutely right. And pre 1959 is worth even more.
why when you grab a handful out of the zinc box, then put them in the sorter, did it throw most of them in the copper box?
oh god I'm not sure how I ended up here on youtube but this reminds me of my grandmother's copper pennies collection - she has dedicated OUR (grand children) room to her damn extra retirement but who knows what if they're actually for us O_O
That $900 would do better sitting in a bank and earning more pennies by the month
+Mystery Buyer NOT! In fact, the bank(s), plus other investments, PAY ME hundreds of dollars every year. LMAO, just because they are in possession of my money. Laughing all the way, literally, to the bank.
exactly, people really understand NOTHING about the current climate and or precious metals.
you mean the bank would use the money, because that is how banks operate and are able to pay you interest, lol
I was under the impression that melting US coinage was illegal...
No.
Shrewd _GC Of course it is. Google 'Section 331 of Title 18'. You can face up to 5 years in federal prison for it.
Gunner is wrong.
Shrewd _GC
It doesn't matter if it is illegal, people will buy them for melt value, whether or not they are going to actually melt them? Who knows? More importantly, who cares?
Shrewd _GC Actually, you can have a fine of 5000, or 15 years in prison.
forgot to ask how do you get boxes of pennys like that ? do I just go up to teller and ask for box?
Copper price is fairly low at the moment, so its a good time to buy. Copper is a finite resource and is always going to be valuable for the electrical uses alone. So long term its only going to sky rocket in price.
Smelting them down into bars and sell the on ebay. Some idiot will pay a ridiculous price for them.
illegal to since 2006 for pennies and nickels
Dozerfreitas Lol. don't tell anyone. just label them as copper bullion. it's equally worthless
Ill eagle is a sick bird. If the metal is melted, where is the evidence of a crime?
Imagine the shipping cost
If you have a large copper penny collection and would be willing to be in a documentary contact Rich at www.dearpennyfilm.com or dearpennyfilm@gmail.com. Looks like it going to be pretty good!
+macprepper Does a few bins of pennies and a container thingy that dogs eat out of count as large penny collection?
+MegaMech if those bins are full he has over a thousand dollars in pennies sitting there, so yeah I think a "few" bins of pennies counts as a large collection...
+MegaMech lol
G Jenkins But its the penny! I haven't seen one in years! Of course people are gonna stock pile them.
G Jenkins Pennies don't exist in Canada
sorter dont work. lol one handful from on bucket went in both jugs. how is that correct? when u pick them up from one jug that is catching the tail-lings?
Sort out the wheats and sell them as rolls. You could actually make money now with it. Two rolls of wheats could get you an entire box to hunt through.
Half of this video you' keep repeating yourself. How many times did you mention inflation, fiat, countries dropping pennies, etc in this one video? A 2 minute video tops being stretched into a 7.5 min video because someone loves hearing themselves talk.
He states different points. I'd love to see your video. Cheers!
+Jay C (fireflames) no, he really doesn't. this is like 2 minutes of content and 5 minutes of pure redundancy. Not to mention all his points are moot because they are based on the insane whim that the penny will be discontinued completely.
I'm sure he posted this video for fun and he could care less what the critics have to say, i would love to see you make a response video and state your points.
+Kayvon Afshar The penny is discontinued where i live so..... yeah
Jay C i dont think you understand the fact that one doesn't need to make a video to state the simple reality of things.
Cart it over to Canada , melt it down,
Suggestion to your 5-gallon bucket problem. Before you put the pennies in the bucket, go to a home improvement store and get some of those flower pot stands that roll.
Get yourself a basic business license and use it to bid clean up jobs on derelict homes and buildings. One building I did had massive copper bus bars in it for the electrical. Each one was over 120 lbs of pure copper from the 1920's. 24 in all. Now its buried around here somewhere waiting to be needed. And yes, you can bury copper as long as your soil is not overly acidic.
You also can get you a very small backhoe and do cleanups of small residential trash piles and like me, you can get your valuable metals stash to bring home while using the old wheels, washing machines, bed frames etc you find to finance your work.
only a dude with a ron paul picture would spend endless months buying pennies and buying an expensive penny sorter, rather than researching a couple weeks for a good company to invest in for a couple years at the stock market. i see why theres so many negative views on this video (idea). xD
I guess it's a hobby as well as an investment for some.
The stock market?? for HOW LONG????
Soggy cow, you could have a pocket full of hundred dollar bills. If the us dollar crashes a few pre 1982 pennies have more value, unless you need to start a fire in which the paper hundreds then will have a higher value (to you only) you don't get it clown shoes 😂
600th comment!!!
Congratulations! :)
It's better to just have a old coin collection.
hey man, i kinda feel bad for you.. my professor brought up this video and basically spent 45 minutes pointing out how dumb america is getting... you really should take some college classes, online also has some good free financial classes for free..
Darrel Oateast Professors aren't too smart themselves.
Kunschner Corrections professors are very intelligent rather it's teachers who aren't too educated.
A good way to calculate the value of metals and look at the periodic table of elements. The quantity of an element goes exponentially higher with each number of protons.
But for simplicity you can say that for every 1 piece of Gold there is 100 pieces of silver, and for every Silver there is 100 pieces of Copper.
Yeah, my penny hoarding time is now. Wish I had started hoarding when you made this video. Hope you still have your stash.😁
I can invest the same amount of cash in equities and make 20 times more than you. This is a terrible idea.
But its a crime to melt them down. Don't Get caught.
*edit* Very interesting plan! Certainly seems foolproof.
Pennies are 2.5% copper.
k0na_bro LP not the old ones.
He's saying he would melt them down if they discontinued them
Anthony Delara Yeah, After watching the rest of the video, I realized that. It is a good plan.
+Anthony Delara Melt them down and do what with them? He is obviously hording these for some SHTF scenario. What his plans don't take into consideration is that if that ever really happened, the entire economy would collapse and his copper would be worthless while his food and ammo would be priceless. His time would be better spent scraping for old copper wire (for free) which is +99.5% pure, or for that matter, any type of metal and cashing it in at a yard and buying his prepping supplies (for an event that's never going to happen) or re-invest it in something that he could turnaround fairly quick. Hell, if he used the 2k in pennies to buy .22 shells he could probably make 10k off of it in Hillary's first year in office.
Quick question. How much time have you invested in this? How much $$ spent in purchasing buckets and sorting machine?
Sorry I don't get it.. The sorter, all the boxes, containers, time..? Seems easier to just buy gold?
Am I the only one who noticed his sorting machine sucks?
He took pennies the were already sorted into bucket #2 and put it in the machine... (they should have all dropped back in to bucket #2).... it spit most of them in to bucket #1.
No he also took a handful of copper ones and put them in the machine as well
be worth more than paper money one day
Never. Or at least not in our lifetime. Its too abundant and used widely in construction and anything tied to construction can't be too expensive. Also, check with your bank, they have limits on how much change you can turn back in at any given time. also, coinshops don't want common pennies, they have enough, which leaves recyclers who don't pay squat.
TIB1973
recyclers won’t pay for pennies because they cannot legally recycle them!
only problem i found saveing copper coins is its not legal to sell em to be melted down so they are still worth a penny if im wrong tell me
yeah good idea over here in the UK I've noticed all the pre 1992 one and two pennie coins are disappearing quickly and a way to go over them quickly if doing it by hand to find the copper ones is get a magnet and all non copper ones will stick to that
To save Pennies like this, is called HOARDING!!!!!
The Secret Service & US Mint would like to have some words with you.
ED Bear
Please share with us what law says someone cannot store pennies, coins or other forms of money. What are the criteria to determine when it is illegal (what items, quantities, $ values, etc.)?
If as you claim it is illegal to keep more than a certain quantity, then the government should facilitate the “re-circulation” of said items thru post offices, banks, etc. However, the exact opposite is the case ( which is absolutely fine with penny “hoarders”!) - We see on the news regular stories of someone trying to pay their bill in coins, and the payee business or government agency says they don’t want all that change!
So.....those bennie babies didn't pay off?
Vicious
Dude very interesting point! Great video
Cool thing about the new zinc/copper pennies, they are actually not entirely worthless. The current melt value is 40%, and if there's ever hyper-inflation that certainly will increase. So even new pennies are worth saving. Check out the current value at Coinflation.
I am? Please explain.
+Christopher de Vidal id·i·ot ˈidēət/ noun informal Christopher de Vidal
My question is, what did I say wrong? It is factually correct that each new zinc penny is currently worth 4/10ths of a percent and it is also factually correct that in a hyper-inflation the values of metals rise relative to the currency. If I am wrong, please tell me why?
Zinc, though readily available and abundant, nonetheless does have a tangible and dependable melt value, per the commodities houses. It DOES have SOME demand. (If nothing more than to make pennies.) In hyper-inflation, the cost of all commodities, zinc included, rises relative to currency, does it not? Isn't it true that in hyper-inflation it takes bundles more monopoly money to trade for an ounce of silver?
I'm not the only "idiot" to talk about this.
"Hyperinflation will destroy the value of their dollars while inflating the value of your metal wealth in coins."
coincollectingenterprises.com/copper-pennies/hyperinflation-coins
"In Zimbabwe in 2008, hyperinflation increased caused the bills to get so many zeros (e.g. billion dollar bills, trillion dollar bills) that they eventually said, okay, 10,000,000,000,000 is now equal to 1 new dollar; but the 1 dollar coins, although they probably disappeared from circulation, were reintroduced after the revaluation... as still being worth 1 dollar. (..) In current Argentina, the coins were more valuable than the bills (at least for a time), due to a coin shortage, but also perhaps due to the hyperinflation that Argentina had experienced."
valuesystem.livejournal.com/50672.html
"it will take more and more worth-less fiat paper currency to purchase the same amount of Gold and Silver." (And copper and zinc and wheat and orange juice and wood and pork bellies and all kinds of commodities.)
gold-forum.kitco.com/archive/index.php/t-84999.html
"it was possible to buy a block of downtown Berlin property for a handful of gold coins during the Weimer collapse" (And how many copper coins? However many copper coins, multiply that by 6 for the number of zinc coins.)
gonzalolira.blogspot.com/2011/02/inflation-hyperinflation-and-real.html
As a bonus, if that ever-elusive unlikely deflationary scenario were to hit, the face value on the pennies would be important.
Bottom line: All metals have value. Some more than others, but all have intrinsic value. Hyper-inflation has historically inflated the value of all commodities, zinc included. This isn't my opinion but historical fact.
Oh and by the way, just a few years ago, the zinc in new pennies was actually worth about as much as one cent in melt value. Today it's worth 70 cents/lb which works out to about 40% of face value on a per-penny basis. But back in 2008 it was worth about $2/lb, or roughly 100% of a penny's face value. We hit another one of those Great Recessions, (or Great Depression II) look out.
www.infomine.com/investment/metal-prices/zinc/all/
That's all this "idiot" has to say, you all may have the last word. Good night, God bless.
'It's always gonna be worth a penny' , wtf is that? In that case stick with the 100 dollar bills because they'll always be worth 100 dollars? What kind of logic is that?
Obviously you dont understand. Hes saying by investing in pennies you wont lose money. It will stay at the value of a penny. But if the government discontinues them. They will he worth 3 cents each because it has no more value as a coin, only its metal.
+xLADIES MANx13 I get it but the fact that they will always be worth a penny isn't a reason on it's own.
+xLADIES MANx13 Except the fact that the buying power of that penny is reducing, not increasing. On top of that, China has stopped buying so much copper, prices are crashing back down to ~2006 levels. So this was a terrible investment.
+Dj Djero It is considering why he's invested in them. It means it's safe. if he got loads of 100 dollars, there's no chance of him making money, but with pennies there will. The fact, though, that a penny is always a penny means he'll never go below what he started with. it's either he profits or not because a penny will always be a penny
I understand the overall point he was trying to make but that on itself was not a valid reason, the only reason is the value of the metal.
This is so dumb, Just buy Silver!
I started hunting & saving pre-1982 pennies and finally realized how much near worthless BULK I had laying around
Voodoo8648 Where can you buy silver for 1/3-1/2 the spot price?
Shane Potter I get it that a penny is about 62% of spot right now, but 1lb of pennies is ONLY worth $2.47. That means it would take over 6 POUNDS of pennies to equal 1 little silver eagle. You can go right ahead, with all that. I but metal as insurance. If I wanna speculate and make a profit, I'll buy futures or stock.
Yah but if you wanna invest in a commodity an you only got say under 5k to do it.. an weight doesn't matter if you aren't walking it around the place.. why not go for the metal you can get on a super sale? There are a lot of people buying copper rounds paying .99-1.49 for a round with maybe 25 cents in copper.. people are buying copper pennies off ebay right now
Shane Potter hahaha, that's funny, how much is shipping on 6 lb of pennies with a value of 14.95 in copper?
If paper currency did become worthless in any time in the future the next currency would be the next rarest thing. Remember, before the passing of paper currency, copper was valued at about 1/300 silver. Now pennies are only 2.5% copper meaning you'd need to extract the copper from 12,000 pennies to trade in for a silver coin of the same size.
the reason they started copper plating zink is because of copper horders
Isn't this illegal? Melting down currency for your own profit?
No.
***** Yes. It is illegal. Google 'Section 331 of Title 18'. You can face up to 5 years in federal prison for it.
Colten Meyer What do you mean, 'no', you fucking moron? There is only one version of the law. It clearly states that melting coins is illegal and carries prison time.
I was hoping the commenter was gunna be like yes it is and then i was gunna say "whyd you ask then?" I notice alotta people post questions they have the answer to so when you do respond they can tell you your all wrong. And shooting heroin is illegal but people do it all the time, whens the last time you seen johny doing life in prison for melting copper into ingots? Never. Now defacing those coins to make other money is probly highly illegal but for melt theres no possible way to tell if it was pennys and no body would be the wiser. Illegal it may be but impossiable no.
Gunner3210 Congratulations, you know how to use Google.
1 gallon of pennies = 30 pounds
2/3 of 5 gallons (3.33) = 175 pounds
......this doesn't add up! lol
How does that coin sorter determine between copper and zinc ones?
Long long long term. This has been talked about when I was a kid.
So was silver skyrocketing
most penny are not pour copper
bud morse pre- 1982, they're almost completely copper
+Jeremy Kelley modern pennies have little to no copper at all
+Jeremy Kelley He's stacking copper pennies which is pre 1982 US pennies and pre 1996 canadian pennies. They were 95% copper.
*pure
what a waste of an "investment"?
If you melt them pennies down you will be meeting the Coppers.
the mint stopped producing memorials and started producing shield pennies. Would the memorials not increase in value in he future as a collectible, if taken out of circulation?