Melting pennies

http://www.denverpost.com/keefe/ci_4104553

On Thu, 03 Aug 2006 09:15:19 -0600, Dave Allured
wrote:

http://www.denverpost.com/keefe/ci_4104553

What a moronic, harmful, bunch of mis-information,
pure zinc ingots spot price is $1.50, and it would take 190
cents to make a pound.
Add in the cost of the fuel for the smelting, the cost
of flux, the labor, and the whole idea is worse than any
old wives tale or outhouse rumor ever told.

No doubt the fixated congressman instigated that
rumor, and it will no doubt cause many fools to start
hoarding zinc, certain to be disappointed when they
find out that not only will they never be worth a cent
in metal, but that nobody will ever want to buy them
for more than face value.

I hope nobody will be so foolish and cause more
harm, controversy, and disappointment.

Joe Fischer

"Joe Fischer" wrote in message
...
On Thu, 03 Aug 2006 09:15:19 -0600, Dave Allured
wrote:

http://www.denverpost.com/keefe/ci_4104553

What a moronic, harmful, bunch of mis-information,
pure zinc ingots spot price is $1.50, and it would take 190
cents to make a pound.
Add in the cost of the fuel for the smelting, the cost
of flux, the labor, and the whole idea is worse than any
old wives tale or outhouse rumor ever told.

No doubt the fixated congressman instigated that
rumor, and it will no doubt cause many fools to start
hoarding zinc, certain to be disappointed when they
find out that not only will they never be worth a cent
in metal, but that nobody will ever want to buy them
for more than face value.

I hope nobody will be so foolish and cause more
harm, controversy, and disappointment.

Joe Fischer


Melting Zinc is relatively easy to do and potentially deadly. The fumes are
toxic and it doesn't take much.
Hope some do it yourselfer doesn't want to make zinc ingots for later
resale.
Dale

On Thu, 3 Aug 2006 12:44:22 -0500, Dale Hallmark dalehall wrote:

"Joe Fischer" wrote in message
...

What a moronic, harmful, bunch of mis-information,
pure zinc ingots spot price is $1.50, and it would take 190
cents to make a pound.

Melting Zinc is relatively easy to do and potentially deadly. The fumes are
toxic and it doesn't take much.

Yup.

Hope some do it yourselfer doesn't want to make zinc ingots for later
resale.

A smarter approach might be to just stockpile them in their present
form, on the thought that eventually a "spot market" may develop for
them in coin form, like junk silver. Worst case, you get 100% of your
investment back and you lose the 3% potential interest gains.

If only all speculativce investments paid off this well. And that
doesn't even get into the 30-40% copper penny percentages (around here
anyway). I've got a standing request with the bank manager for penny
bags - $50.00 at a time. Working through my first one, if the second
one is ready before I finish sorting the first, I'll just stick it in
the basement. And yes, there are ways to sort zinc vs. copper pennies
without inspecting every one of them. Different mass, different
density, different electromagnetic signatures...

On 3 Aug 2006 17:51:52 GMT, Dave Hinz wrote:

On Thu, 3 Aug 2006 12:44:22 -0500, Dale Hallmark dalehall wrote:
"Joe Fischer" wrote in message
...

What a moronic, harmful, bunch of mis-information,
pure zinc ingots spot price is $1.50, and it would take 190
cents to make a pound.

Melting Zinc is relatively easy to do and potentially deadly. The fumes are
toxic and it doesn't take much.

Yup.

Good information. :-)

Hope some do it yourselfer doesn't want to make zinc ingots for later
resale.

A smarter approach might be to just stockpile them in their present
form, on the thought that eventually a "spot market" may develop for
them in coin form, like junk silver. Worst case, you get 100% of your
investment back and you lose the 3% potential interest gains.

"Investment"? Is this a high class scrap metal secret?

If only all speculativce investments paid off this well.

US Savings Bonds would be much better, the ones
I just cashed cost $50 and redemption value was $431.00.

And that
doesn't even get into the 30-40% copper penny percentages (around here
anyway).

Good thinking, free labor sorting cents by composition
is much appreciated.

I've got a standing request with the bank manager for penny
bags - $50.00 at a time. Working through my first one, if the second
one is ready before I finish sorting the first, I'll just stick it in
the basement.

Really good idea, find a damp area and there
will be lots of pretty patina colors.

And yes, there are ways to sort zinc vs. copper pennies
without inspecting every one of them. Different mass,

Sure, I posted details on an easy to build balance
in this group 5 years ago, a yardstick and a knife with
a sharp edge and a cent from later than 1983 is all
that is needed.
It takes about 2 seconds per cent, but what is
my time worth.

different density,

Of course, buy two identical scales and put
one underwater, and weight the cent on each and
compare the difference.

Nah, the yardstick balance is better.

..different electromagnetic signatures...

Careful, high voltage is dangerous.

But wait, I thought the idea was to help the
government avoid a more serious problem of the FRB
requesting more cents.

But it was silly of me to even dream that any
cooperation at all was possible.

Just think, a whole new class of investors,
the zinc miners will be happy, but the silver owners
will laugh if zinc goes to $100 a pound, silver will
probably be a million dollars an ounce.

Joe Fischer

On Thu, 03 Aug 2006 16:57:19 -0400, Joe Fischer wrote:
On 3 Aug 2006 17:51:52 GMT, Dave Hinz wrote:

A smarter approach might be to just stockpile them in their present
form, on the thought that eventually a "spot market" may develop for
them in coin form, like junk silver. Worst case, you get 100% of your
investment back and you lose the 3% potential interest gains.

"Investment"? Is this a high class scrap metal secret?

It's not as dense as, say, gold, from a value per volume standpoint, but
if physical space isn't a concern within reason, it's just a matter of
watching numbers go up and down.

If only all speculativce investments paid off this well.

US Savings Bonds would be much better, the ones
I just cashed cost $50 and redemption value was $431.00.

Great, glad that's working for you.

And that
doesn't even get into the 30-40% copper penny percentages (around here
anyway).

Good thinking, free labor sorting cents by composition
is much appreciated.

Ah, but that would imply it takes human intervention to do so, and/or
that the search doesn't happen anyway for other reasons.

I've got a standing request with the bank manager for penny
bags - $50.00 at a time. Working through my first one, if the second
one is ready before I finish sorting the first, I'll just stick it in
the basement.

Really good idea, find a damp area and there
will be lots of pretty patina colors.

I built my house; my basement is not damp.

And yes, there are ways to sort zinc vs. copper pennies
without inspecting every one of them. Different mass,

Sure, I posted details on an easy to build balance
in this group 5 years ago, a yardstick and a knife with
a sharp edge and a cent from later than 1983 is all
that is needed.
It takes about 2 seconds per cent, but what is
my time worth.

That's one way to sort them. Not very fast though.

different density,

Of course, buy two identical scales and put
one underwater, and weight the cent on each and
compare the difference.

That's one way to do it I guess, but treating them as a fluid and
finding a medium which is cheap, abundant, and has a density between
zinc and copper would work in a vibratory table. (hint: iron)

Nah, the yardstick balance is better.

.different electromagnetic signatures...

Careful, high voltage is dangerous.

Um, no. Actually the differences in induced eddy currents between the
two are on the scale of picoamps.

But wait, I thought the idea was to help the
government avoid a more serious problem of the FRB
requesting more cents.

I don't give a rat's ass about the FRB, sourcing of cents, or anything
else. If I can buy 3 bullion for 1/3 it's value and sort it
efficiently, I'll do it.

But it was silly of me to even dream that any
cooperation at all was possible.

Not my argument, I don't care about that end of things.

Just think, a whole new class of investors,
the zinc miners will be happy, but the silver owners
will laugh if zinc goes to $100 a pound, silver will
probably be a million dollars an ounce.

I'm not sure I understand where you're going with this. I see a bullion
source where I can readily get the metal for 1/2 or 1/3 of melt, and
where at worst, I break even. Sorting with an un-attended machine costs
me very little money.

On 3 Aug 2006 21:05:59 GMT, Dave Hinz wrote:

I don't give a rat's ass about the FRB, sourcing of cents, or anything
else. If I can buy 3 bullion for 1/3 it's value and sort it
efficiently, I'll do it.

But you are paying twice the metal value for zinc
cents, and zinc is traditionally less than 50 cents a pound,
and it is expected to fall to near that price soon.

From

http://biz.yahoo.com/iw/060705/0141372.html

"C. K. Benner, Vice Chairman and CEO added; "The current and
contemplated increase in zinc production at Neves-Corvo, combined with
achieving full capacity at the Aljustrel mine by mid 2008, would bring
our annual production of contained zinc metal to approximately 300
million pounds. On a consolidated annual basis, by 2008 we estimate to
be producing approximately half a billion pounds of contained copper and
zinc or approximately 650,000 tonnes of concentrate. This would make
EuroZinc a significant concentrate producer on a global scale."

"EuroZinc is a Canadian based company engaged in the acquisition,
exploration, development and mining of base metal deposits
internationally. In addition to the Neves-Corvo mine the company also
owns the Aljustrel mine in Portugal, which is expected to start zinc,
lead and silver production by the second half of 2007."
[Unquote]

It is possible the mint planners know things like
this and consider the 3 or 4 year average of prices in
their planning.

Joe Fischer

On Thu, 03 Aug 2006 21:30:43 -0400, Joe Fischer wrote:
On 3 Aug 2006 21:05:59 GMT, Dave Hinz wrote:

I don't give a rat's ass about the FRB, sourcing of cents, or anything
else. If I can buy 3 bullion for 1/3 it's value and sort it
efficiently, I'll do it.

But you are paying twice the metal value for zinc
cents, and zinc is traditionally less than 50 cents a pound,
and it is expected to fall to near that price soon.

Who said I'm keeping the zinc ones?!?!?!

It is possible the mint planners know things like
this and consider the 3 or 4 year average of prices in
their planning.

And it's possible that 30 years from now, my kids will be glad I did
this. Worst case I break even. I'm perfectly content with more people
not doing this.

"Dave Allured" wrote in message
...
http://www.denverpost.com/keefe/ci_4104553

I am saving pre 1982 cents, I sort them out manually and save out all the
pre 1959 US cents, the pre 1965 Canadian Cents, the S- Mints and the
occasional Euro 2¢ coins I find in the rolls. I have gotten over 100 wheat
backs dated as early as 1926 since early July.

I now have approximately 4.000 pre 1982 cents saved up. But the big fun is
the finding the wheat cents.

On Fri, 4 Aug 2006 07:25:03 -0400, Sibirskmoneta wrote:

I am saving pre 1982 cents, I sort them out manually and save out all the
pre 1959 US cents, the pre 1965 Canadian Cents, the S- Mints and the
occasional Euro 2¢ coins I find in the rolls. I have gotten over 100 wheat
backs dated as early as 1926 since early July.

Our experiences are similar. I've found two 1930 wheaties, one F-12,
one EF with a bit of red, bunches of 40s and 50s wheats too. Found a
lamination error on a 1960-D, and a bunch of "woodgrain" effect on non-S
1970's cents.

I now have approximately 4.000 pre 1982 cents saved up. But the big fun is
the finding the wheat cents.

Let's see...I've got something in that neighborhood, give or take. The
mechanism is nearly perfectly adjusted now though so sorting will become
automated. Then I'll go through the copper bucket & pick out the
wheats. I'll miss the errors and varieties I'm finding in the manual
search I'm doing now, but, oh well.