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Re: Copper pennies and nickles as a store of value [Re: christopera]
    #27695635 -

christopera said:
I bought $1000 worth of forever stamps back when they were just $.39 a piece.

Fuck pennies and nickels.



christopera said:
I sell them for $.56 a piece, which offers a $.2 savings for all of the grandmas I shake down at the post office. It's a cool 69% earning.

:cool:





Wow, where do you sell them?


Now with the new laws, selling on ebay sucks because anything over $500 in sales you have to report to IRS and pay taxes on. Total Bullshit


But also. I have been slowly buying forever stamps too, not a lot though.. just the cool ones.

Edited by Fiery (03/14/22 09:17 PM)

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Re: Copper pennies and nickles as a store of value [Re: christopera]
    #27695636 -

Baby_Hitler said:
Those are fiat stamps! :crankey:




christopera said:
Technically they have a 3rd dimension, a Z height if you will, but yes they are flat
:cool:




He said Fiat, not flat... but that's pretty funny what you said hehehehe



I guess stamps are sort of Fiat because they don't really hold any intrinsic value as a small square of sticky paper.


In other news, even the "fake, fiat" pennies made out of 95% sinc are actually worth a penny now because of the price rise in zinc!!

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695638 -

Fiats are awful cars.

I don't own any Fiats, though I do like the 500.


--------------------
Enjoy the process of your search without succumbing to the pressure of the result.

A Dorito is pizza, change my mind.

I’m sorry it had to be me.

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Re: Copper pennies and nickles as a store of value [Re: christopera]
    #27695639 -

lololol Strange name for a car.

PS- where do you sell your stamps?

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695644 -

I sell them outside the post office. Grandmas can't resist. You have to be careful though, the Post Office Police are fucking legit dude.




Also, I made that entire story up. I mean if I wanted to take money from old women I'd just kick their ass and steal their purse, like a real man.


--------------------
Enjoy the process of your search without succumbing to the pressure of the result.

A Dorito is pizza, change my mind.

I’m sorry it had to be me.

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Re: Copper pennies and nickles as a store of value [Re: christopera]
    #27695645 -

WTF lol...Ok ummm... so you still have an original $1000 purchase of stamps?


Where will you sell them?

PS_ leave the old ladies alone :rules:

if you rob them that's going to cut into my profits in my escort business.

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695661 -

I threw out the $1000 of stamps and just steel titanium hip replacements outside the post office. It's easy, those old ladies fall down with hardly a push.


--------------------
Enjoy the process of your search without succumbing to the pressure of the result.

A Dorito is pizza, change my mind.

I’m sorry it had to be me.

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695682 -

Fiery said:
Unfortunately though we can't "get the money" because it's still illegal to melt down US currency.


Or even export apparently. But only pennies and nickels. Not that any higher denomination coin is worth melting unless it's silver.


It's probably legal to melt another country's coins I guess.

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Re: Copper pennies and nickles as a store of value [Re: psi]
    #27695710 -

psi said:
Fiery said:
Unfortunately though we can't "get the money" because it's still illegal to melt down US currency.


Or even export apparently. But only pennies and nickels. Not that any higher denomination coin is worth melting unless it's silver.


It's probably legal to melt another country's coins I guess.



Yeah, there is a limit on the amount of currency you can physically take out of the country. ( not sure what that is though)


As far as silver coins go the US government lifted the ban on melting those and you're allowed to...


Personally I love US silver coins from pre 1965... people call it "junk" silver but there's some really nice/pretty coins like the walking liberty half dollars and the peace dollars

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695725 -

It is hard to melt forever stamps. They tend to get all on fire and hot. Way more volatile than grandmas.


--------------------
Enjoy the process of your search without succumbing to the pressure of the result.

A Dorito is pizza, change my mind.

I’m sorry it had to be me.

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Re: Copper pennies and nickles as a store of value [Re: christopera]
    #27695728 -

haha. Yeah.


I just want to know when the post office is going to flake out on the Forever thing. I mean it can't go on "forever"



What are they going to do to honor the value of people holding these stamps when they decide to do away with the "forever" system and use a new system.


I have a feeling a lot of people will get screwed over financially when that happens. In otherwords, there will be no refunds.


It's for this reason alone that I think investing in stamps is not a very good idea except maybe a very small percentage of your portfolio.

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695734 -

"forever" is until like the end of rule.

Unless you are a time traveler there is no predicting.

For the record, I don't condone investing in stamps. I was making a joke.


--------------------
Enjoy the process of your search without succumbing to the pressure of the result.

A Dorito is pizza, change my mind.

I’m sorry it had to be me.

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Re: Copper pennies and nickles as a store of value [Re: christopera]
    #27695746 -

I know, but if you look at the sale values of the cool ones , they are selling on ebay for well over the "face value price" .There are people who make good money just buying and reselling stamps but it's getting harder! If it were easy everyone would do it.

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695751 -

Fiery said:
As far as silver coins go the US government lifted the ban on melting those and you're allowed to...


Not just silver but any other non-penny or nickel coin is legal it appears, it would just be pointless economically to melt down your Susan B. Anthony dollars or modern quarters and dimes or what have you.

https://www.federalregister.gov/documents/2007/04/16/E7-7088/prohibition-on-the-exportation-melting-or-treatment-of-5-cent-and-one-cent-coins

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Re: Copper pennies and nickles as a store of value [Re: psi] * 1
    #27695758 -

Ah, thank you for the link.

Quote:
One commenter suggested that the United States Mint and the Federal Reserve should encourage the public to redeem their unused one-cent coins and pay a small premium over their face value, and then the United States Mint could reclaim the pre-1982 copper one-cent coins for their metal content. One commenter stated that recycling the 5-cent and one-cent coins should not be prohibited because, if the coins are recycled for their metal content, it would increase the supply of copper, nickel and zinc, with the ensuing market forces resulting in a price decrease for those metals.




To be honest that law is bullshit anyways. It's my money that I worked for and paid taxes on... I should be able to melt it if I want.


Banning that ( to me) is like when the government asked everyone back in 1933( BY LAW) to turn over all their gold for $20 an ounce, this making owning gold illegal for a while. A complete overreach of government power IMO

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695763 -

Fiery said:
I know, but if you look at the sale values of the cool ones , they are selling on ebay for well over the "face value price" .There are people who make good money just buying and reselling stamps but it's getting harder! If it were easy everyone would do it.


I see some listings on ebay that are just boxes of circulated US nickels for above face, with some actual sales.

Probably some people are getting away with scrapping them at some point down the chain. But as long as you are not knowingly selling to people doing that, a customer could just as easily be a speculator hoping to sell to a fellow speculator, all above board. Then everyone holds hands and sings Kumbaya.

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Re: Copper pennies and nickles as a store of value [Re: psi]
    #27695765 -

psi said:
Probably some people are getting away with scrapping them at some point down the chain. But as long as you are not knowingly selling to people doing that, a customer could just as easily be a speculator hoping to sell to a fellow speculator, all above board. Then everyone holds hands and sings Kumbaya.



Word. Yeah me too. Also tons of people sell pre 1982 copper pennies on ebay too for twice face value.


Besides just collecting them myself- I have actually bought copper pennies from EBay as an investment! Paying 2 cents per penny.. Because the price of copper IS going to keep going up over time, but the ammount of copper in the penny never goes down.


I look at a website called "coinflation" and it tells you the value of metal in the coin in percentages to its face value.


Just for a time stamp to look back on later.. Today: A penny is worth three pennies and a nickel is worth 8.5 cents! wow.






1909-1982 Cent (95% copper) *
$0.01
$0.0301223
301.22%





Jefferson Nickel 1946-2014 Nickel
$0.05
$0.0852132
170.42%

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Re: Copper pennies and nickles as a store of value [Re: psi]
    #27695767 -

Oh yes and another thing. I personally feel silver is still a good deal at 25 per ounce. I just wish I had more capitol to invest right now!


I can see it easily doubling in the near future. But then again people have been saying that for a long time yet STILL the price is being manipulated.

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695776 -

Crisp, uncirculated $100 bills usually bump up in price pretty decently after a few years on eBay.

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Re: Copper pennies and nickles as a store of value [Re: Fiery]
    #27695905 -

I feel like there's easier ways.  When I look at the historical charts on kitco, copper and nickel have tanked in the last 5 years.  If you had hoarded pennies for the last 5 years, you're losing money.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436

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