Best way to buy Copper at spot
NIPSZX
Posts: 79 ✭✭
NIPSZX
Posts: 79 ✭✭
NIPSZX
Posts: 79 ✭✭
Comments
I imagine you’d get a good price if you bought large ingots from a metal supplier....... but why would you want to?
Old motors maybe? Washing machines, dryers, etc...
Collector, occasional seller
Physical Copper is not a serious investment option for most people.
Get a brokerage account and play the commodity on paper, if you must.
Pre-1982 cents? 145 per pound.
--Severian the Lame
Futures contracts. At 2.62 per pound, there's no easy way to store investment size quantities
1) Go to Bank, get 10,000 cents
2) Pull out all 1981 and earlier dates
3) Weigh them, and you have bought copper (95%) pure at $1.45 a pound.
"spot" price of metals is often overworked and non realistic.
BHP Billiton is the largest producer of copper in the world. If you walk up to the office, and ask for 1 pound with $2.62 in hand, they will toss you out. That is probably the price per pound for a 1000 pound ingot or so.
The spot price of silver is based on a 1000 ounce bar. So why would a company buy a 5000 ounce bar, create molds or stamping equipment, melt the bar, fabricate it into 1 ounce little bars, and sell it at the spot price?
Price of beef at the lot is $1.69 a pound. Probably not going to be able to buy 100 pounds of Prime Rib for $1.69 a pound.
You have bought BRONZE not copper
Go to a metal recycler & buy unplated Buss Bar for a little over spot. When you go to sell it back you'll get 50cents less than spot. Dr Copper really is not practical in physical form unless you are going to use it.
I have bought more fabricated copper than I care to think about for my business to use & if I was concerned about a dramatic price increase then I would hedge it.
I think that the demand may be softening right now. Overseas industrial buyers use it as collateral & used to buy a lot. That may be changing as you read this. The state of the world economy is iffy.
A silver futures contract is 5000 oz.
Copper is an industrial metal, not a rare or precious metal.
Why would you even want to?
Go to Home Depot or Lowe's or such plumbing section and buy as much type L or M copper tubing as you'd like to own.
Liberty: Parent of Science & Industry
So what?
As an industrial metal, it has real uses and a real value that is actually less emotional than gold whose largest use, by far, is cosmetic.
Because the price is currently depressed and he expects it to go up.
Why would you buy gold? Because you think it's value is going up, no?
You like it? Go ahead and buy all you want.
... and only if you count your time as 'free.'
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Copper as junk I don't mess with
I just save wheaties... and I believe I have a copper mug somewhere....might have lost it in the last moves. Cheers, RickO
Is copper still the poor man's silver?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Why would you even want to?
As others have said, you as an individual can't really go out and buy copper billion at spot. It is just a basis for large industrial purchasers.
Fabricated copper (bars, etc.) has a huge markup over spot.
In construction past 30 years. We would pull out copper pipes on a demo. The owners didn't want to put aside, so we recycled or saved them.
100% Positive BST transactions
Save old copper Lincoln cents?
FWIW, most small pure copper rounds and bars that I have seen recently don't weigh the correct amounts. This is in addition to being wildly overpriced. Nobody seems to actually care because it is all a big joke anyhoots.