Fed Reserve rolled pennies/coppers removed?

[justoneguy]

hard math stuffs

I won the math debate !!
now say that outloud fast

[tractorman]

http://www.kokogiak.com/megapenny/eight.asp

Interesting site. Click to the next page, a billion which is $10 million. It would be half that or 2.5 school buses.

[cesariojpn]

hard math stuffs

Given the volume, about how big of a "site" would one need for that many pennies?

Multiply times 5 :

http://www.kokogiak.com/megapenny/eight.asp

That kinda eliminates some locations very easily.....

[Diggin4copper]

ok..now that I have visualized it, I think Im gonna stop stacking at a billion....

[highroller4321]

I've consistently proclaimed that the 'window' to amass CU penny holdings would shut much quicker than many here can imagine. I've also stated the melt ban will prove to be much more irrelevant than people think. This 'rumor' only confirms my fears that our days our numbered.

This is not a rumor. They have a signed contract in place!

[highroller4321]

It really doesn't take up that much space. A small warehouse can easily hold $5 million.

[xpred558]

I need to find some cash for more pennies fast!!!! Even though this might be a small amount in the grand scheme of things all it will take is a few more rich people and us normal people will be out of luck.

[knibloe]

Has the penny story aired yet? Do you think that they are holding off because some large money people want to get their share first??

[JerrySpringer]

Another thing is, do wheaties usually get sorted out with non-wheat copper cents? I'd gather probably, but I've heard some of you here have wheats get sent to the zinc chute on your Rydales? Anyway, by my math, I get roughly 0.5% yield of wheats per a box of pennies. Just about 12 wheats per $25 sorted. My math says whoever is getting that $5 million in pennies will have about $24,000 in wheat pennies roughly. Can anyone see that maybe some key dates coins that still lurk out there in the wild, along with Indian Heads and maybe who knows what will get locked away in this hoard and probably eventually melted ?

[tinhorn]

I can't adjust my comparitors tightly enough to accept or reject all wheats, so I'm guessing the Mystery Hoarder will lose about half of them, and ALL of his Indian Heads.

[hobo finds]

I can't adjust my comparitors tightly enough to accept or reject all wheats, so I'm guessing the Mystery Hoarder will lose about half of them, and ALL of his Indian Heads.

So the wheats and Indians will be mixed in the zinc dumps! I may find that indian yet! LOL

[JobIII]

Perhaps we could all go in on a group buy

[NHsorter]

Perhaps we could all go in on a group buy

Even if half of the RC members went in on a group buy, we would each have to invest 10K to get to the 5M order that was placed with Brinks. Then, we would have to distribute everything! Once this was done, then what would we do with our spare time? Tellers across the country would be filing missing persons reports.

[JobIII]

Well it would be a 10K investment and another $130 for the servicing fees. Altogether a great price on a large amount of copper.

Logically this is the way to go. Let them do the work.

I'm in. now the remaining 499 buyers.

[NHsorter]

I was not trying to crap on the group buy idea. I was just joking around. It would be a great way to get some cheap cheap copper. Although it would be a huge undertaking. Sign me up. 498 to go!

[highroller4321]

Getting a group together to put money together is one thing. Finding someone to sell you the pennies for face value is the hard part....There was a group buy that was just put on here that bought several tons from me at The Portland Mint for very reasonable prices but defintly not face value....

[NHsorter]

How do you figure that this "millionaire" got his contract with Brinks for the 5M at face? Do you just need to have that kind of money, or do you also need to know the right people?

[fasteddy]

It really doesn't take up that much space. A small warehouse can easily hold $5 million.

20,000 5 GALLON BUCKETS or 1,666 55 gallon drums...how thick does the concrete base need to be?

[NHsorter]

It really doesn't take up that much space. A small warehouse can easily hold $5 million.

20,000 5 GALLON BUCKETS or 1,666 55 gallon drums...how thick does the concrete base need to be?

Heck, I have that much space in my basement. I could just rip the stairs out and start dumping buckets through the doorway until it's full.

[JobIII]

Getting a group together to put money together is one thing. Finding someone to sell you the pennies for face value is the hard part....There was a group buy that was just put on here that bought several tons from me at The Portland Mint for very reasonable prices but defintly not face value....

I thought the pennies would be coming through coinstar. This is a pretty amazing change. They sort and you collect for a very low fee. It completely avoids the hassle of sorting and returning yourself. New troubles would be collecting and storing...

Also I haven't bought boxes of pennies since October. Is anyone actually seeing low % or skunk boxes on the northeast? I am tempted to buy a couple to see what i get.

[highroller4321]

How do you figure that this "millionaire" got his contract with Brinks for the 5M at face? Do you just need to have that kind of money, or do you also need to know the right people?

The contract is through coinstar not brinks. Huge difference...

You also have to know certain people. Coinstar doesn't deal with just anyone.

[highroller4321]

It really doesn't take up that much space. A small warehouse can easily hold $5 million.

20,000 5 GALLON BUCKETS or 1,666 55 gallon drums...how thick does the concrete base need to be?

Depends on how much weight you are putting per square inch. Obviously the higher you stack the more weight you put so it needs to be deeper.

[tinhorn]

Is anyone actually seeing low % or skunk boxes on the northeast? I am tempted to buy a couple to see what i get.

I picked up several boxes last week--two were Brinks--and my percentage was normal. The new wrinkle, though, is the changeover from the String boxes with peepholes to a cheaper box with no holes. The bank where I get most of my coins, though, has been receiving boxes of new zincs for months. They know I look for old pennies, so in the past they'd bring me only boxes containing old coins.

[JadeDragon]

Why do they need to transport the copper - just hold it in the brinks facility. Does not get safer than that.

[cesariojpn]

Why do they need to transport the copper - just hold it in the brinks facility. Does not get safer than that.

Rent.