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Copper the new silver?

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
Copper apparently just hit a new record on Chinese demand and of course the JP Morgue cornering.

Copper cents are now worth 2.8 cents each--almost 3x face.

Silver was $4 an ounce just a few years ago. I'm just saying... image

We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • calleochocalleocho Posts: 1,569 ✭✭
    To be honest i would rather have a few of these than some rhodium pool image

    image
    "Women should be obscene and not heard. "
    Groucho Marx
  • StewStew Posts: 1,002
    It is a very distinct possibility I think with the industrial developing nations
    hunger for copper on the rise and I think JP Morgan-Chase may recognize that.
    Considering their recent move on copper and working on setting up a copper exchange.
    Can you imagine what will happen to the price of copper when they sell up to
    100 pounds on paper for every pound they have in possession.
    like when they got caught with their pants down doing it with silver.
    My Ebay Listings
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Copper mining deposits tend to be in the billions of pounds, while silver is in the millions of ounces. Their price ratio is about 100-1. I'd say silver is still lagging copper.
    But I do find it interesting that both copper and silver have advanced almost the same amount since the fall 2008 bottom.

    Silver's monetary value has helped to propel it this year. Copper doesn't have that advantage. While I could see $200/oz silver, I have a hard time seeing $28/lb. copper....which would also go along with $600/barrel oil.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • sbeverlysbeverly Posts: 962 ✭✭✭
    At a local coin show here last weekend, one of the vendors was selling copper bars.
    I had never seen that before.
    Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
  • BearBear Posts: 18,953 ✭✭✭
    It is very possible, however the volume and weight issues would tend to

    make storage a problem for the average collector.
    There once was a place called
    Camelotimage
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    sounds good to me as long as we can call silver the new gold.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • ZubieZubie Posts: 1,160 ✭✭✭✭
    So, what is the play for copper? Would you go buy copper bars, hoard pre-82' cents or just invest in some shares of CU, DBB or JJC?
    I love those copper bars, but can only find them on ebay and they are almost double the actually value. Anyone know where you can find copper bars cheap?
    Cents are free from the bank, but, the time to sort is ridculous even if you have a copper sorter.
    I am leaning towards an ETF, maybe throw $1000 into copper and let it ride for 10 years. Anyone else looking into this too?
    Tim
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    image
  • aj2525raj2525r Posts: 120 ✭✭
    Gresham's Law in action:

    I just sorted another $5 in cents. The pre-1982 will go into the ammo box and join the ~$40 worth already there.

    I'm not sure how much longer the government can allow the pre-1982 to circulate. Per coinflation they are getting close to being worth 3 cents each. I would not be surprised to read the government getting a few industrial sorters to shift out the 95% copper ones and sit on the copper.

    Same with nickels, they are sitting on 6.5 cents for the metal value. I'd expect nickel coated steel pretty soon. I wonder if that will work in vending machines. Or if vending machines even take nickels anymore.
    I still call my accumulation my collection!
  • calleochocalleocho Posts: 1,569 ✭✭
    Between the labor costs, the extensive beurocracy of the planning, implementing , then debating etc, the government will probably mine the cents at a cost of 8 cents each image
    "Women should be obscene and not heard. "
    Groucho Marx
  • INDIANJOEINDIANJOE Posts: 103
    COPPER NICKELS LOL
    yes i would buy copper bars, if i could find them for spot prices
  • PerryHallPerryHall Posts: 46,113 ✭✭✭✭✭


    << <i>COPPER NICKELS LOL
    yes i would buy copper bars, if i could find them for spot prices >>



    How liquid are these copper bars? Will the local B&M coin dealer be interested in buying these bars?

    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

  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    I'll wait for the American Copper Eagles. image

    My Adolph A. Weinman signature :)

  • INDIANJOEINDIANJOE Posts: 103
    no but the scrap buyers will.
    lol
  • edmundfitzgeraldedmundfitzgerald Posts: 4,306 ✭✭
    Check out these results - from January 1970 to December 17, 2010



    Gold was $35.40 Now $1376 Up 3786%



    Silver was $1.88 Now $29 Up 1453%



    Aluminum was $606.20 Now $2307 Up 280%



    Copper was $1569 Now $9102 Up 480%



    Lead was $324.70 Now $2379 Up 633%



    Nickel was $2881.60 Now $24695 Up 757%



    Tin was $3818 Now 26225 Up 587%



    Zinc was $309.90 Now $2241 Up 623%



    S&P 500 gained 1400% during this period while gold was up 3786%.
  • carew4mecarew4me Posts: 3,470 ✭✭✭✭
    Why not just load up on copper pipe at Home Depot? image

    Loves me some shiny!
  • laserartlaserart Posts: 2,255 ✭


    << <i>Why not just load up on copper pipe at Home Depot? image >>



    Because for that you pay retail prices, over and above the cost of copper by what, 50 to 100%?
    "If I had a nickel for every nickel I ever had, I'd have all my nickels back".
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