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Poor Mans Silver

Fletch58Fletch58 Posts: 3 ✭
in Precious Metals

I see how cheap CopperBars &Rounds are these days. Is there any chance that anyone out there is speculating that the price of Copper will skyrocket? I can afford some Silver, but not an ounce of Gold. Would I just be throwing away money to stack Copper? Thanks- Fletch

Comments

  • derrybderryb Posts: 36,945 ✭✭✭✭✭

    got a big warehouse?

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • Fletch58Fletch58 Posts: 3 ✭

    It would take that much huh?

  • blitzdudeblitzdude Posts: 5,961 ✭✭✭✭✭
    edited December 23, 2024 4:10PM

    Last I checked (years ago) the premiums were so high on that stuff I doubt one would ever recover their initial costs. I believe if speculating in copper one would be better off coin roll hunting and sorting out/saving all the pre 1982 pennies (95% copper) or hoarding boxes on nickels (75% copper). Of course, you have to wait for it to become legal to melt them.

    A pre 82 cent currently holds .026 cents of copper. Nickels need not be sorted and currently contain .051 cents of copper. THKS!

    The whole worlds off its rocker, buy Gold™.
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  • RiveraFamilyCollectRiveraFamilyCollect Posts: 642 ✭✭✭✭

    You can get 5-10lb copper bars for really cheap, but its basically worthless and it takes up a huge amount of space.
    I would not recommend stacking copper. Even stacking Silver is a bad idea.
    Gold is high brow. Silver is low brow. Copper is... primitive.

    A lot of people are with you in the "I can afford some silver, but not an ounce of gold" situation. My advice, save up your silver money until you can afford 1 oz of gold. I'm fairly sure a 1oz gold coin will serve you better than a large stack of silver.
    Gold seems to always go up, where silver is pretty volatile. Its been bouncing between 18 and 35 for the while.

    Just my opinion but gold will serve you better than silver and stacking copper shouldn't be an option you consider.

    The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.

  • rte592rte592 Posts: 1,690 ✭✭✭✭✭

    When you start to think about stacking copper... repeat to yourself, the Metal of Kings is... :D

  • PerryHallPerryHall Posts: 46,238 ✭✭✭✭✭

    There's a reason that copper is not a precious metal.

    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

  • MWKMWK Posts: 72 ✭✭✭

    If you're looking to put money into precious metals but don't have a requirement of taking physical possession, you can buy gold in less than one troy ounce increments using things like ETFs such as GLD, PHYS, or IAU. There are also ETFs for silver and I believe for palladium and platinum. There are also companies such as BullionVault that allow you to own allocated silver, gold, or platinum that allows for the purchase of gold in one gram increments.

    Full disclosure: I own shares in PHYS and am a customer of BullionVault.

  • dcarrdcarr Posts: 8,525 ✭✭✭✭✭

    If you can buy pure copper for the same price that scrapyards pay, then do that.

    Moonlight Mint
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