Is copper going to be the new silver?
Klif50
Posts: 689 ✭✭✭✭
I am getting a lot of ads from the various bullion sellers that I've shopped with previously. I've bought a little gold and a lot of silver, both 90% coins and .999 silver rounds. Now they are all flogging copper as the next silver. They are selling a lot of copper 1 ounce (regular ounce, not troy) round for $1.79 or so and a lot of them are quite nice looking. I've picked up a few hundred and put them into my albums/coin pages/notebooks, and they make a very interesting looking display. I am picking up a lot of the Nativity Scene one ounce rounds to put in 2/2 along with a note saying Merry Christmas from the wife and I. They are different. I can slide them into a regular Christmas card to add a little heft and to make an interesting gift for friends.
So, the cost of 1 pound bars are going up. About twice the cost of the ones I bought last year.
Copper really isn't a "precious metal" but it is nice to have and to hoard. Do you think the price is going to continue to go up?
I also have bought a lot of lead but that is either in small pigs to melt for my lead soldiers and battlefield stuff, or in the form of bullets and if need be I can give them away (quickly propelled in the direction of the recipient).
Comments
How can copper possibly be the new silver. It is currently selling for $4.45 per pound. It is too bulky to hold and you would need tons of it to make any kind of money event with a 25% price increase.
I don't know if there is even a two way market for copper. Will the person you bought the 1lb bars from buy them back for you and if so at what percentage of current market value.
No.
Knowledge is the enemy of fear
Do not stack copper
copper is moving up with inflationary pressures that lots of commodities are experiencing right now.
however, there is no shortage of copper. we are flush with free money from the fed and some of that is going into commodities.
silver rounds once were once going for under $1 above melt.
you are paying over $1 above melt for those copper items.
$4.53/pound means $4.53/16 = about 28cents worth of copper. and you are paying $1.79 each.
insanity.
buy one to look at and let it be.
as far as gifts, many people don't appreciate "coins and stuff" and to make it more so... it's copper.
do not stack copper. it is being flogged because of the obscene markups.
If you want to stack copper, get rolls of pennies from banks and pick out the pre-1982 ones. You will double your money…
Copper rounds are interesting novelties and nothing more.
Or just buy rolls of nickels and be done with it. No sorting required and they are already worth more than face value. Instant 24% increase. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Copper coated lead has been a good investment.
Knowledge is the enemy of fear
If silver is the poor man's gold as I've heard many times, does that mean that copper is 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
Toilet metal imo. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Copper rounds are novelty items only... Not a precious metal. Rising prices due to inflation.... Cheers, Rick
Not anymore the use PVC now.
Except in Calif and on Federal property. Steel shot and solid copper projectiles.
Copper is the most critical industrial metal on Earth. The price will go up as mining costs increase and as the dollar is devalued.
100% Positive BST transactions
Psst. don't let the Aluminum industry in on that secret nor the steel industry