Walter Boyd wrote:OldPilot wrote:
I'll be renewing in April. If Walter raises the price to $70.00, I'll send him a bag containing 7000 pennies. I'll send another bag containing 4000 pennies for the IFR add-on and 2000 pennies for the multi-platform add-on.
If you promise to do this I'm totally going to raise the price - just for the humor involved in receiving a package of 13,000 pennies. And would be a great add for my collection...
'biz_Pennies_112012-2.jpg'
Walter,
It's potentially profitable too, since pennies contain more than one cent worth of copper. ;-)
At $2.70 cents a pound for copper, the valuation is about 1.75 cents per penny. Effectively yielding a pleasant 75% additional markup if you sell them to a metal salvager who's willing to ignore the fact that it's illegal to destroy US coins. (That number will increase or decrease , depending on the current price of copper.
You can check the latest price of copper at http://www.cmegroup.com/trading/metals/base/copper.html. The nearest month contract is closest to spot value for copper.)
And who knows, in that many pennies there's a fair chance that there are some collectable ones worth more.
But I wouldn't hold my breath on OldPilot shipping those:
The net weight of 13,000 pennies is right about dead on 71.5 pounds, not counting the packing crate. ;-)
Hey.... where on earth did you get that photo. Cool. :-)
Alex