BITCOIN TOTALLY SCREWED..GET OUT NOW!!!
- Thread starter Everfresh
- Start date
Doug
2
.69 of a cent
Check the link
www.coinflation.com
Nickels had about ten cents of metal content a few years ago when nickel was higher.
Check the link
www.coinflation.com
Nickels had about ten cents of metal content a few years ago when nickel was higher.
ok, thanks for the link.
I also found the wikipedia article for the penny.
https://en.wikipedia.org/wiki/Penny_(United_States_coin)
Although the coin's abolition has been proposed because it is now worth very little, there are currently no firm plans to eliminate the penny.[3] As of 2015, based on the U.S. Mint Annual Report released for 2014, it costs the U.S. Mint 1.67 cents (down from 2.41 cents in 2011 and 1.83 cents in 2013) to make one cent because of the cost of materials, production, and distribution.[4] This figure includes the Mint's fixed components for distribution and fabrication, as well as Mint overhead allocated to the penny. Fixed costs and overhead would have to be absorbed by other circulating coins without the penny.[5] The loss from producing the one cent coin in the United States for the year of 2013 was $55,000,000. This was a slight decrease from 2012, the year before, which had a production loss of $58,000,000.[6]
I also found the wikipedia article for the penny.
https://en.wikipedia.org/wiki/Penny_(United_States_coin)
Although the coin's abolition has been proposed because it is now worth very little, there are currently no firm plans to eliminate the penny.[3] As of 2015, based on the U.S. Mint Annual Report released for 2014, it costs the U.S. Mint 1.67 cents (down from 2.41 cents in 2011 and 1.83 cents in 2013) to make one cent because of the cost of materials, production, and distribution.[4] This figure includes the Mint's fixed components for distribution and fabrication, as well as Mint overhead allocated to the penny. Fixed costs and overhead would have to be absorbed by other circulating coins without the penny.[5] The loss from producing the one cent coin in the United States for the year of 2013 was $55,000,000. This was a slight decrease from 2012, the year before, which had a production loss of $58,000,000.[6]
Doug
2
Half cent in 1857 had more purchasing power than a dime in 2000.
Time to make a dime the lowest denomination and just have dimes and quarters and just round off cash transactions
Also kill the dollar bill and use coins like Canada, they wear out fast and require frequent replacement, but that will never happen here
Time to make a dime the lowest denomination and just have dimes and quarters and just round off cash transactions
Also kill the dollar bill and use coins like Canada, they wear out fast and require frequent replacement, but that will never happen here
mr merlin
EOG Master
I've got a couple gallons of pennies pre 1976, what are they worth? Back then I picked through them for the wheaties, so these are all commons.
Doug
2
Face value, no coin dealer would buy the are just far too common
The common wheats are very easy to obtain, often sold in bags of 5,000 coins at 4-5 cents a coin or about $200 a bag.
The 1959-1981 copper Lincoln's have a metal value over face value but are I'll eagle to melt as they are considerid to be current money and would cost more to replace silver coins can legally be melted.
You can't really list them on eBay shipping would be too much, but worth checking out if you want
Craigslist maybe you can find a sucker to pay a premium locally, worth a shot I guess ?
Lots of stuff not worth holding on to like non silver half dollars, $2 bills, small size dollar coins, etc.
Doug
2
OK , why 1976 ?
mr merlin
EOG Master
That's when they were stored away. I know it's illegal to melt them right now, At some point it wont be, then I can unload them at a hefty 3 cents each perhaps(if I live that long).
andyfezzik
EOG Addicted
Ethereum and Litecoin are really the best buys right now. Both 90%+ off their highs and are coins that will survive the inevitable shakeout of all the recent shitcoins and tokens. In a rebound, they'll have far better percentage returns than BTC although BTC will certainly do well too. I'm a buyer at these levels.
Doug
2
My guess is you inherited this minor
Hoard ?
My inner physacatrist mentality says you could never actually sell them
The value is minimal anyway.
mr merlin
EOG Master
Nope, I was 16, my dad was into coin collecting, he knew where to get bags of pennies( I think they were out of gumball machines), he got me a couple bags($100 worth) and I searched through them all, like I said I pulled out all the wheaties/good ones and these are the rest.
A little trivia, 1 gallon of pennies equals approx $50.
You're right, I'll prob never get rid of them. the problem with coin collecting is you cant get rid of them for anywhere close to what they're"worth", so you never do. You have a coin/coins, that are worth say $1k, you inquire about selling them and you'll be lucky to be offered 40%, so you think" that's BS, I'm getting ripped off", and you hang on to them. other than actual silver,gold, bulk silver, the margins are way to high.
Anyone want to buy a stamp collection?
Doug
2
You can get a better return but it takes effort.
Like selling on eBay or Craigslist or something
High end stuff like 6 figure coins need to be sold at auction and incur large fees like 40 percent.
All in all invest in something other than coins,stamps,sports cards,etc. You would be much better in stocks and the like
You collect things like coins as a hobby not an investment.
Do not save things that are unusual as a novice numismat.
Stuff like Kennedy halves Ike dollars, small size dollar coins, $2 bills, red seal US notes, copper cents,etc.
Sell the wheat back cents
As to silver coins, you are just betting on metal prices.
Silver isn't as important as it used to be for industrial usage.
Gold is iffy as well
Like selling on eBay or Craigslist or something
High end stuff like 6 figure coins need to be sold at auction and incur large fees like 40 percent.
All in all invest in something other than coins,stamps,sports cards,etc. You would be much better in stocks and the like
You collect things like coins as a hobby not an investment.
Do not save things that are unusual as a novice numismat.
Stuff like Kennedy halves Ike dollars, small size dollar coins, $2 bills, red seal US notes, copper cents,etc.
Sell the wheat back cents
As to silver coins, you are just betting on metal prices.
Silver isn't as important as it used to be for industrial usage.
Gold is iffy as well
mr merlin
EOG Master
It would be about a wash. nothing to write home about.
mr merlin
EOG Master
The problem is that that $1k in silver would have been worth $30k in 1980, and the last 40 years you would have lost huge money.
andyfezzik
EOG Addicted
Copper pennies 1982 or earlier have a melt value of 1.85 cents. While it is presently not legal to melt them, there are speculators on EBAY who will pay you a premium of about half the difference between face and melt so you should be able to get about $.014 per penny in bulk.
Doug
2
There is actually an entire forum about copper cents.
Www.realcent.org
Basically the real problem is finding the sucker buyer
Www.realcent.org
Basically the real problem is finding the sucker buyer
mr merlin
EOG Master
Those poor bastards that bought near the highs(believing the hype of $100k plus) are hurting.
andyfezzik
EOG Addicted
The US phasing out copper pennies would arguably be a "best case scenario" for a pre-1982 copper penny collector since, presumably, once the pennies are no longer legal tender the restrictions against melting them down would be lifted and a collector could melt them into ingots and sell to any of the place that buy copper near spot.
andyfezzik
EOG Addicted
I don't think it is an if that Bitcoin will reach $100k, but a when. After the fall from $1000+ to below $200 in the late 2013 crash, there was all this same talk that Bitcoin was busted, would never come back, etc... It stayed low for years and then had the incredible spike to $20,000 which would have given anyone who bought in early 2014, when people said the coin was "dead", a 100-1 return. A running joke on the Bitcoin forums is "Bitcoin is dead, long live Bitcoin". Is $3400 the optimal point to buy? Perhaps not but it's almost impossible for an investor to pick the absolute bottom so what you do during these periods where it has crashed 80%+ is dollar cost average and buy a bit each month. That averages you in at a low price point, and you can cash on the next run - which may take years but should greatly exceed inflation.
Doug
2
No need to make them not legal tender, just change the law . Pre 1965 silver r coins are legal tender and legal to
Melt
Everfresh
EOG Senior Member
Not looking good for crypto. Senate banking chair now proposing COMPLETE BAN ON CRYPTO which will DESTROY THE MARKET
markets.businessinsider.com
Get the FUCK out now, and thank me later. I have been consistently right on this matter
The US Senate Banking Committee chair suggests banning cryptocurrencies and says they are a threat to national security
Senator Sherrod Brown added that a ban would be difficult because crypto would then "go offshore, and who knows how that would work."
markets.businessinsider.com
Get the FUCK out now, and thank me later. I have been consistently right on this matter
ZzyzxRoad
EOG Dedicated
Yeah
trytrytry
All I do is trytrytry
Not looking good for crypto. Senate banking chair now proposing COMPLETE BAN ON CRYPTO which will DESTROY THE MARKET
The US Senate Banking Committee chair suggests banning cryptocurrencies and says they are a threat to national security
Senator Sherrod Brown added that a ban would be difficult because crypto would then "go offshore, and who knows how that would work."
Get the FUCK out now, and thank me later. I have been consistently right on this matter
nobody following this guy has any bitcoiin left as they sold at 300-500 range. but for the record a sell recommend by everfresh at 16505. 0
lets see what this statement to sell brings...
his usual at least 8 other times is he predicts a bottom of the short term fluctuation market....so getting out on his call has been horrifical
he has the worst ROI in forum history missing on bitcoin and many times. amazing actually not sure how he is as bad as he has been.
cheapseats
EOG Master
I wonder if SVB is an inside job to destroy BC etal. SVB had huge deposits of companies in the crypto arena.
i don't think crypto is going away but many coins are garbage. Probably we will see the digital dollar come out after the crash. Then money will be a reset along with the banks will collect gold. Land taxes will be cheaper.
railbird
EOG Master
after the"vanishings"
and Silvergate went under. They were the only 24/7 crypto bank.
andyfezzik
EOG Addicted
Nothing better for crypto than bank failures!
railbird
EOG Master
are you a christian
andyfezzik
EOG Addicted
Ma'am, I am tonight!
railbird
EOG Master
i bet memphis to win their region 40-1
I've got them losing in the 1st round +125