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copper down $1.28 ????????

bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭


Am I the only one seeing copper down $1.28 on kitco ?

Comments

  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    Down 34%????? What 's going on?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Typo...
    Copper Dec 12 3.711 3.7585 3.756 3.698 -0.047 -1.26%
    Support your local Coin Shop
    LM-ANA3242-CSNS308-MSNS226-ICTA
  • bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    I have a toolbar called Livegold installed in my Firefox browser that shows metal prices , I was half asleep drinking my first coffee of the day saw the copper quote and thought we were at war image.

    It figured I bought $50 in customer wrapped pennies at the bank yesterday image
  • tneigtneig Posts: 1,505 ✭✭✭
    Penny still at $0.247 cents copper value?

    That's the good thing about the penny investment. It only costs a penny and instantly liquid.
    And it doesn't matter about the copper price curve. Sell when high, who cares when low.

    I have several containers full of copper pennys and I'm tired of moving them. Soon as its high,
    they go, to buy pms when low. I'm thinking its still good to separate copper pennys, but sell
    them off often.
    COA
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    You can't move the earth graders which drink $4/ diesel to mine copper at under $4/lb.

    The recyclers will hold their scrap until copper recovers. Copper recyclers are completely in control of this market when oil is this high because it costs a lot of fuel and energy to find and process new metal.

    The industrial metal recycling game is closely controlled and the game is highly predictable. My neighbor has about 10 acres of scrap about 2 stories high and watching the ebb and flow of ferrous & non ferrous comings and goings in his yard has been over the years..... fascinating. Copper price heads south, his copper pile becomes enormous.

    I'll never forget him telling me..."you can never have enough of the red metals".
    Have a nice day
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