Coin Roll Hunting Update / Review # 1
I started coin roll hunting pennies towards the end of last year. Since this time I’ve acquired 6 boxes of pennies. I’ve also written six articles to track what I’ve found in each box.
If you’d like to review those articles I’ve listed them below. The most important being the first article in the series, as it explains some of the reasons for coin roll hunting.
- Coin Roll Hunting $25 in pennies Box 1
- Coin Roll Hunting $25 in pennies Box 2
- Coin Roll Hunting $25 in pennies Box 3
- Coin Roll Hunting $25 in pennies Box 4
- Coin Roll Hunting $25 in pennies Box 5
- Coin Roll Hunting $25 in pennies Box 6
Now that you have a better idea where I started and what I have done so far. I thought it would be a good time to stop and reflect on what I’ve learned and offer up my plans from here.
If you recall one reason for coin roll hunting is to build up a small copper bullion portfolio. Since one penny is worth slightly double in metal bullion value, I thought this would be an easy way to build a simple copper portfolio.
After coin roll hunting 6 boxes, I have a better idea how this project will play out.
When you go to the bank and ask for a box of pennies. They give you a sealed box that contains $25 in circulated pennies. Included in the box is both pre-1982 copper pennies as well as newer post-1982 pennies which are made of zinc and copper alloy.
For this project we are only interested in the pre-1982 pennies since these are 98% copper. These are the coins we set aside.
I’m going to use the $25 box as the base unit to measure this project. So If I get a $25 box of circulated pennies from the bank. What I want to do is pull out all the copper pennies. When I get $25 in copper pennies, I re-roll these into the same $25 labeled box. see article image
By using the $25 box as a base measurement, I know how much I have invested in actual dollar amount and the $25 is an easy number to use for calculations and is already the banking industry standard.
Results of Coin Roll Hunting Pennies.
With that said, I found that it takes about 6 boxes of circulated pennies to pull out $25 in copper pennies. If you do the math, here is how it works out. Please correct me in the comments, If you find a mistake.
- $150 Total dollar amount of pennies I’ve searched through to find $25 in copper pennies. $25 x 6.
- $4.17 Average amount of copper pennies found in each box. $25 / 6.
How this work out in unit count.
- 2500 pennies per box. $25 / $.01.
- 50 rolls in each box. $25 / $.50.
- 300 rolls of pennies searched. 6 boxes x 50 rolls.
- 15,000 pennies. 2500 x 6.
Here is how we calculate this for the weight.
- $25 box of circulated pennies weights about. 14 lbs.
- $25 box of copper pennies weights about 17 lbs.
Here is how we calculate the bullion value of this project.
- $25 in copper pennies cost us well, $25. This is our initial investment. Not including my time or hours. That would be crazy!
- The copper bullion value when I wrote this article was about $3.30 a pound. So if $25.00 in pennies weights 17 lbs then our $25.00 in copper pennies has a bullion value about $56.10.
In essence we have more than doubled our investment since we only invested $25 but the metal value is $56.10. For this example that would be a $31.10 profit.
Since the bullion market is constantly changing the number always plays out slightly different. But for this little experiment. That is what I’ve discovered after coin roll hunting six boxes of pennies.
Where do we go from here? Well, I’m glad you asked. Now that we have one complete box of $25 in copper pennies, I’d like to forge ahead and coin roll hunt until I have another $25 box of copper pennies.
The plan is to keep coin roll hunting until I have $100 in copper pennies.
Here is what that will look like in order to get there based on what we found in this first review.
Goal: $100 in copper pennies
Status: 1 box complete
We are going to need to acquire 21 more circulated boxes of pennies to get us to our $100 goal.
6 boxes is the quantity of boxes we need to search which gets us $25.00 in copper. In dollar amount that means we will search through $525 of pennies to bring us to our $100 goal of copper bullion.
So in case you’ve ever though about investing in copper bullion this may be one option you might consider.
Have you coin rolled hunted pennies? What did you find in your area? Are the numbers I present in this article similar to what you have found in your area?
Please comment and share this article.
What I didn’t realize a the time, was how much fun my son was going to have opening up rolls of coins. I also learned this is a great project during the bone-chilling winters we have in the Chicago-land.
This is definitely a “Winter” project. I’m always trying to find things to do while cooped up inside. Coin roll hunting just happens to be something I can do to keep busy.
4/6/2018 update
I think the bank I visit may be catching on this project. The last time I visited for another box I was charged for the box of coins. It’s a nominal fee, but if they continue to charge. I may end this project.
I really think it has to do with who is manning the tellers on the day I visit. I was told once before that to get boxes I they would charge, but then had a nice friendly teller give me the box at face value.
So for what it’s worth, I hope they don’t start charging so we’ll see.
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Sincerely yours,
Dave Gates