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So, while at the gun show I witnessed something...
JnRockwall
Member Posts: 16,350 ✭✭✭
that i have been rolling around in my head trying to figure out.
While out walking the tables, I come across a guy selling pure copper coins. His sign says the New American Currency. His coins are very nice, struck with great detail. The ribs are straight and all is wonderful.
So there is a guy there buying some of these fine .999 copper coins. $100 to be exact. That's what caught my eye to begin with. Someone dropping a c note on a table that has no guns, nothing to do with guns at a gun show...
So i sort of pull up and mull over some 20mm ammo cans withing ear shot to see what this guy is up to. Slowly mulling my way to the table for a closer glance. I get there, and examine the coins. They have bust portraits on the front of people I havent the foggyist whom they are. On the back are the likes of native ameicans, axes, mary jane leafs, a sling blade... and it says .999 fine copper!
So what am I missing here? Why would someone drop a c note on copper coins? Yeah yeah, his money yada yada yada. But but but... i don't get it! Why does copper have to be .999 fine? Why would it not me 1.000 pure copper?
So any ideas or input on the point or purpose of these coins? Not exactly like people were lining up for these by any means.
While out walking the tables, I come across a guy selling pure copper coins. His sign says the New American Currency. His coins are very nice, struck with great detail. The ribs are straight and all is wonderful.
So there is a guy there buying some of these fine .999 copper coins. $100 to be exact. That's what caught my eye to begin with. Someone dropping a c note on a table that has no guns, nothing to do with guns at a gun show...
So i sort of pull up and mull over some 20mm ammo cans withing ear shot to see what this guy is up to. Slowly mulling my way to the table for a closer glance. I get there, and examine the coins. They have bust portraits on the front of people I havent the foggyist whom they are. On the back are the likes of native ameicans, axes, mary jane leafs, a sling blade... and it says .999 fine copper!
So what am I missing here? Why would someone drop a c note on copper coins? Yeah yeah, his money yada yada yada. But but but... i don't get it! Why does copper have to be .999 fine? Why would it not me 1.000 pure copper?
So any ideas or input on the point or purpose of these coins? Not exactly like people were lining up for these by any means.
Comments
While out walking the tables, I come across a guy selling pure copper coins. His sign says the New American Currency.
The Federal Gub'mint doesn't take kindly to someone else claiming they are making currency.
He'll find himself in prison if he isn't careful
His sign saying it was the new American currency. Copper be damned, who wants copper? You want cheap copper, buy a poop load load of pennies, if it is dated 1982 or earlier, its .999 fine copper. if it is 1983 it is a zink turd with a copper coating!
a copper penny is worth more than a penny folks!
none the less, I didn't even bother asking how much the coins were. I just figured this guy for one of those shtf types and felt like he was stocking up on something that may give him leverage without the expense of gold or silver.
But to me, he was buying nothing. Wasting his money...
It is a commodity like silver or gold. It just isn't worth very much. I think he is marketing to people who believe we are headed to a road warrior barter system. I was thinking of buying a big bar of copper just for the fun of having a solid copper doorstop.
like this? http://www.providentmetals.com/bullion/copper/1-avdp-kilo.html?gclid=CO-1itq40a0CFYRgTAodSCLsAw
now you mention it, it would be kinda funny.
It's pretty hard to get 100% pure whatever metal. I think the closest is what .9999 pure.
The last gun show I went to was so bad I only got some fudge, and that was only because the guy promised that the proceeds would go to helping vets. There is no guarantee that he was legit either, but it got him a lot more business than the other person that was simply selling fudge. Gun shows in my area are more or less just themed flea markets, selling a variety of low-grade products for high-grade prices. The fudge was top notch bye the way.
quote:Originally posted by JnRockwall
While out walking the tables, I come across a guy selling pure copper coins. His sign says the New American Currency.
The Federal Gub'mint doesn't take kindly to someone else claiming they are making currency.
He'll find himself in prison if he isn't careful
And the Federal Reserve likes it even less.
forget what rediculous price they had on them, but whatever dies they were struck from had excellent detail, and some just wierd designs
We put a stop to these people, the "Gold and coin dealers" the Jerkey sellers" the Book Sellers" at our gun Show, you have to display at least 60 percent of your merchandise in firearms and gun related Items...
I like that. I would prefer to go to gun shows where there are some sort of restrictions in place to make sure I'm not paying the entrance fee to see a bunch of non-gun sellers. I would still like to have a simple food court, like a hotdog stand or something, as I tend to make several laps just to make sure I didn't miss anything and get hungry enough to leave early.
quote:the kid showed me a listing on flea bay for copper coins that had a blurb about copper being the "new silver"
forget what rediculous price they had on them, but whatever dies they were struck from had excellent detail, and some just wierd designs
You can get that done at any of the places where people make commemorative coins. Just select from their stock designs and fonts, arrange them into what you want your coin to look like, and pay the fee to have them made. There is a big enough market for commemorative, non-monitary coins that this is a fully established niche business. The guy in question just found an alternate market for this product.
i have decided to start sifting my pennies for copper ones[;)]
Did that the other day and found a 1943 steel penny.
Looks to be worth all of...
$0.15
Neal
quote:Originally posted by fordsix
i have decided to start sifting my pennies for copper ones[;)]
Did that the other day and found a 1943 steel penny.
Looks to be worth all of...
$0.15
trade that 1 penny for 15 copper pennies and you realize .24 cents for your .15 cent penny.
So How many did he get for $100.
I have no idea.
quote:Originally posted by chollagardens
Why buy .999 coppper coins when you can have 75% copper coins mixed in with 25% nickle for only five cents. They are worth more than melt value and cost over eleven cents to make. The US goverment is and has been pondering changing the content to steel or other metals.
If you are talking about nickels, I think they are 100% nickel. I never heard they had copper in them.
quote:Originally posted by yoshmyster
So how big were these new coins? Hockey Puck size? I'm trying to figure out the trade value as in bullion (not he cubes used to make soup [:D] that was a funny line from "Three Kings").
It's pretty hard to get 100% pure whatever metal. I think the closest is what .9999 pure.
They were the same size as 1/4 ounce and 1 oz gold coins. I never thought to see if copper was based on troy ounces.
quote:Originally posted by JnRockwall
While out walking the tables, I come across a guy selling pure copper coins. His sign says the New American Currency.
The Federal Gub'mint doesn't take kindly to someone else claiming they are making currency.
He'll find himself in prison if he isn't careful
+1
http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency
quote:
Originally posted by chollagardens
Why buy .999 coppper coins when you can have 75% copper coins mixed in with 25% nickle for only five cents. They are worth more than melt value and cost over eleven cents to make. The US goverment is and has been pondering changing the content to steel or other metals.
If you are talking about nickels, I think they are 100% nickel. I never heard they had copper in them
Composition
The nickel comprises 75 percent copper and 25 percent nickel, making its name a bit of a misnomer. From 1942-1945, when nickel became a valuable metal during the World War II effort, the composition changed to 56 percent copper, 35 percent silver and 9 percent manganese. These coins are prized by collectors for their silver content.
Dimensions
The nickel weighs 5 grams and has a diameter of 21 mm. It has a plain edge, unlike the reeded edge of most American coinage.
Read more: The Metal Composition of a Common Nickel Coin | eHow.com http://www.ehow.com/facts_6863556_metal-composition-common-nickel-coin.html#ixzz1jdGthta0
I wish nickles were 100% nickle as nickle is worth over twice as much as copper.