Today I Received.....

[Guest]

This came in today for grading today and I bought it.




It’s a special coin and pretty rare....

1881-M Shield Sovereign

[ilovesilverireallydo]

6 minutes ago, Numistacker said:

This came in today for grading today and I bought it.




It’s a special coin and pretty rare....

1881-M Shield Sovereign

Nice. I picked up a 1884-M shield. It’s in flea bay at the moment.

[kimchi]

1 hour ago, BackyardBullion said:

Where do you even take the copper ones to get more value for their metal anyway!?

Somewhere abroad where it's not illegal to melt them down!

That or 'have a very unfortunate trip' somewhere near a furnace (should you perhaps know of someone who has such a thing)

Edited April 19, 2018 by kimchi

[BackyardBullion]

35 minutes ago, kimchi said:

Somewhere abroad where it's not illegal to melt them down!

That or 'have a very unfortunate trip' somewhere near a furnace (should you perhaps know of someone who has such a thing)

Quick bit of research - 100kg of copper pennies would yield you about £32 profit (assuming you had all the kit already!) And that is assuming you melt them outside the UK otherwise you are committing a criminal offence.

So, a tonne of copper pennies in the back of the car over the ferry and have ourselves a merry melting session!!?!?!

[BackyardBullion]

Another little clue of what is to come this weekend!

[ilovesilverireallydo]

Just now, BackyardBullion said:

So, a tonne of copper pennies in the back of the car over the ferry and have ourselves a merry melting session!!?!?!

a tonne would yield you £320 profit... if 100kg gets you £32. A tonne has 1000kg. 

[FlorinCollector]

1 minute ago, ilovesilverireallydo said:

a tonne would yield you £320 profit... if 100kg gets you £32. A tonne has 1000kg. 

There is a video i watched on youtube of two guys that went to france but i think after travelling and getting it melted down it wasnt worth it but if u have a lot maybe :))

[BackyardBullion]

1 minute ago, ilovesilverireallydo said:

a tonne would yield you £320 profit... if 100kg gets you £32. A tonne has 1000kg. 

Yep - but getting 1000kg of copper coins into the back of the car would be a mission! 

Be my guest - would make an interesting youtube video for sure!

[ilovesilverireallydo]

2 minutes ago, BackyardBullion said:

Yep - but getting 1000kg of copper coins into the back of the car would be a mission! 

Be my guest - would make an interesting youtube video for sure!

Your maths looks wrong matey: 

• Each coin is 97 per cent copper, which means that each 2p coin contains 6.9 grams of the metal and each penny piece contains 3.45 grams. (7.12g and 3.56g full weight)
• To get a tonne of copper it would take 145,000 2p coins or 290,000 1p coins, giving a face value of £2,900.
• 1 tonne worth of pure copper pennies pennies would weigh 1032400 grams (pure weight 1000500 grams or 1000.5 KG)
• Metal content they would be worth £4,861.81
• Scrap dealers pay £3.80 -£4.2 per KG of "heavy" copper which is 97-98% copper = £3923.12 

Profit: £1000 per tonne. 

[BackyardBullion]

3 minutes ago, ilovesilverireallydo said:

Your maths looks wrong matey: 

• Each coin is 97 per cent copper, which means that each 2p coin contains 6.9 grams of the metal and each penny piece contains 3.45 grams. (7.12g and 3.56g full weight)
• To get a tonne of copper it would take 145,000 2p coins or 290,000 1p coins, giving a face value of £2,900.
• 1 tonne worth of pure copper pennies pennies would weigh 1032400 grams (pure weight 1000500 grams or 1000.5 KG)
• Metal content they would be worth £4,861.81
• Scrap dealers pay £3.80 -£4.2 per KG of "heavy" copper which is 97-98% copper = £3923.12 

Profit: £1000 per tonne. 

I was basing my maths on this article from Jan 2018:

https://www.leftovercurrency.com/is-it-legal-to-melt-coins/

Is it worth it?

For UK pennies: Copper one-penny and two-pence coins made before 1992 are 97% copper. Modern day British 1p and 2p coins are made of copper-plated steel. Before melting the copper coins, you’ll need to separate them from the copper-plated steel coins. It’s easy to do this: Copper-plated steel pennies are magnetic, while older, copper pennies are not.

There is 6.9 grams of copper in a pre-1992 two-pence piece and 3.45 grams of copper in a pre-1992 penny. At current copper market prices, the copper value of a one-penny coin is £0.0157 pounds. The copper value of a 2p coin is £0.0314.

If you buy 100kg of 1p and 2p pieces, and 25% of the coins are pre-1992, the copper value for these coins is £88.20 pounds. The face value for the coins is £56.18 pounds. The potential reward is £32.02. For that money you’ll need to transport 100kg of coins across the Channel, sort them out magnetically, find a metal dealer and melt them. It’s questionable whether the potential reward of £32 per 100kg will cover your travel expenses, time and effort (and a cut for the metal dealer). Therefore, at current copper prices, it’s probably not worth melting your British pennies.

[Big23]

31 minutes ago, BackyardBullion said:

Another little clue of what is to come this weekend!

Aaaahhh very nice

[ilovesilverireallydo]

1 minute ago, BackyardBullion said:

I was basing my maths on this article from Jan 2018:

https://www.leftovercurrency.com/is-it-legal-to-melt-coins/

Is it worth it?

For UK pennies: Copper one-penny and two-pence coins made before 1992 are 97% copper. Modern day British 1p and 2p coins are made of copper-plated steel. Before melting the copper coins, you’ll need to separate them from the copper-plated steel coins. It’s easy to do this: Copper-plated steel pennies are magnetic, while older, copper pennies are not.

There is 6.9 grams of copper in a pre-1992 two-pence piece and 3.45 grams of copper in a pre-1992 penny. At current copper market prices, the copper value of a one-penny coin is £0.0157 pounds. The copper value of a 2p coin is £0.0314.

If you buy 100kg of 1p and 2p pieces, and 25% of the coins are pre-1992, the copper value for these coins is £88.20 pounds. The face value for the coins is £56.18 pounds. The potential reward is £32.02. For that money you’ll need to transport 100kg of coins across the Channel, sort them out magnetically, find a metal dealer and melt them. It’s questionable whether the potential reward of £32 per 100kg will cover your travel expenses, time and effort (and a cut for the metal dealer). Therefore, at current copper prices, it’s probably not worth melting your British pennies.

He is basing his maths on a flawed assumption. 

 

Quote

 

If you buy 100kg of 1p and 2p pieces, and 25% of the coins are pre-1992, the copper value for these coins is £88.20 pounds. The face value for the coins is £56.18 pounds.

 

Assuming only 25% of them are copper. Ie: 25KG is copper which works out at £121.50 NOT £88.30 (maybe spot was diff when he worked it out). 

100KG of only copper pennies will then actually yield you even a his figures 4 times as much. 

[Roy]

43 minutes ago, BackyardBullion said:

Another little clue of what is to come this weekend!

Home brew?! You're a gentleman and a scholar 

What are the coppers for though?

[BackyardBullion]

Just now, Roy said:

Home brew?! You're a gentleman and a scholar 

What are the coppers for though?

I like my brews to have a coppery taste and colour thank you very much!

[PansPurse]

18 minutes ago, Roy said:

Home brew?! You're a gentleman and a scholar 

What are the coppers for though?

Oh fantastic  I've been hoping to share some pics of the seven gallons I've got bubbling away under the stairs

[Roy]

When you said you were a scientist..... 

[caloundracats]

Home made piggy bank to pretend you've been saving coppers for years? Or maybe a table lamp in the making?  Suppose we'll have to wait till the weekend to find out.

[tbone]

12 hours ago, sg86 said:

What a lovely day to sort through a new batch of shields. These are in particularly nice grade so excited!

We need a "jealous" emoji !

[ShaolinStacker]

Today I recieved the 2nd 1955 Rhodesia & Nyasaland proof set off ebay.

The obverse of the half crown is soooo frosty. Planning on sending both sets through NCS

Edited April 19, 2018 by ShaolinStacker

[JunkBond]

12 hours ago, Roy said:

Home brew?! You're a gentleman and a scholar 

 

11 hours ago, PansPurse said:

Oh fantastic  I've been hoping to share some pics of the seven gallons I've got bubbling away under the stairs

 

40 pints of the good stuff

 

 

[Tpbullion]

12 hours ago, Roy said:

Home brew?! You're a gentleman and a scholar 

What are the coppers for though?

Dilly dilly ??

[PansPurse]

41 minutes ago, JunkBond said:

 

40 pints of the good stuff

Here's mine, although I shudder to think of drinking it by the pint. I encourage relaxed sipping from small glasses

[JunkBond]

I feel a "Today I Brewed" coming on.

[ilovesilverireallydo]

Some recent pick ups

1901M Vic Full Sov

1891M Vic Full Sov Rare short tail

1866 Shield YH (the 1966 YH picked up last week, but nice to see 100 year difference coins together)

2005 half sov

Two 9ct gold ingots (bought at 2% over spot) 

[Guest]

A very beautiful 1968 Sovereign from @oliversw at a great price totally recommended.





My PF63 ultra cameo from Baldwin’s also arrived






I am thinking that this coin could be transformed by NCS and may rise a grade...