Instead of a cooler I would recommend using a HDPE barrel. The walls are very thick and it is very easy to install a bulkhead or element. They also hold heat much better than SS. They come in many sizes from 8 gal to 55 gal.
Something like this:
http://www.ebay.com/itm/Plastic-Bar...ultDomain_0&hash=item2c6072a6fc#ht_500wt_1202
I use a 55 gallon version for my mash tun. It is very heavy duty.
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