Jim,
I read a recent blog of yours that was posted on “Gold is Money” regarding hoarding of 5 cent “nickels”. The penny is a much better deal (currently at just about 2.5 times their face value) and [as you’ve mentioned in SurvivalBlog, Ryedale has developed and sells a machine for under $500 that sorts by metal composition. [It sorts] 300 coins per minute.
I have been amassing copper pennies for a little over one year now. Here is a summary of my plan that I’ve posted on the”Gold is Money” forums:
I’ve got five tons of 95% copper and counting. I’m now adding another ton every four months. My goal is to amassing 20 tons on e. (That is one full semi-truck load (by weight). I expect to get 85% of spot [when I eventually sell it. I anticipate] when spot is well over $10/lb. This will likely happen inside of five years. Here is the math: 40,000 lbs x $10/lb x 85% = $340,000 on an initial investment of $60,000.
Copper is currently near $4/lb. Assume constant 15% to 20% inflation and it should easily more than double inside of five years. So, I think that $10/lb is on the low side.
This hobby/investment requires about 8 hours per week. 5 years x 52 weeks/yr x 8hrs/wk = 2,080 hours of labor. That is the same as one year of a typical full time job. So, $340,000 profit / 2080 hours = $163/ per hour. Even in a world of 15% – 20% inflation, that is outstanding pay. I also have a 100% guarantee [of my amassed pennies always] being worth face value.
Since everyone asks: One ton will fill an oil drum. So, storage space is not a big issue. Regards, – T.R.K