Poor Mans Silver
Fletch58
Posts: 3 ✭
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
0
Comments
got a big warehouse?
Repetition of ignorance is ignorance raised to the power two.
It would take that much huh?
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™.
BOOMIN!™
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.
When you start to think about stacking copper... repeat to yourself, the Metal of Kings is...
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
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.
If you can buy pure copper for the same price that scrapyards pay, then do that.
Many years ago, copper bars and rounds were ‘the thing’. Every dealer had cases and cases of different designs. And then it seemed they all moved on with the same speed, and I rarely see them today.
Right now the gold to silver ratio is over 80, signaling that silver is a good buy right now (2618/29.59=88).
"The ratio is most useful at its extremes. When the ratio has topped 80, it has signaled a time when silver was relatively inexpensive relative to gold. Silver went on to rally 40%, 300%, and 400% the last three times this happened.
Likewise, the three times the gold / silver ratio has fallen below 20 in the past, it has marked a period when gold was relatively inexpensive compared to silver."
I still pull 95% copper cents from circulation. Pretty much a life-long hobby.
I knew it would happen.
I think you meant "A pre 82 cent currently holds .026 dollars of copper". 2.6 cents each.
Same with the nickel comment. .051 dollars of copper. 5.1 cents each.
Stacking copper can be fun, but it’s unlikely to see the same kind of price jumps as silver or gold since it’s so abundant and has a lower market value. Copper rounds and bars are cool to collect, but the resale value usually doesn’t make up for the premium you pay.
If you’re looking for a solid, affordable investment, silver is a better choice. It’s in demand for both industrial use and as a precious metal, plus it’s easier to sell when the time comes. You might also look into fractional silver if you want to start small.
It is useful, so if you run across it some way in the wild, whether it is in wire, alternators, household plumbing, grab it. That's what I do. I do not buy it, other than the rare occasion from Apmex when a small purchase is needed to qualify for free shipping. The value will creep up over time. A lot of things that are plentiful have.
Stacking copper can be fun, but it’s unlikely to see the same kind of price jumps as silver or gold since it’s so abundant and has a lower market value. Copper rounds and bars are cool to collect, but the resale value usually doesn’t make up for the premium you pay.
This.
The question is whether the percentage spread between the costs of buying it, and then the costs of liquidation are justified by any rise in the price.
Also, how much copper are you prepared to physically handle - in buying, storing and physically moving it around? If you think that silver is heavy & bulky, copper is more than 200 times worse when figured on a weight vs. price basis.
Better invest in a forklift and warehouse space if you're truly serious about it.
I knew it would happen.
And put copper.....tubing....in the warehouse ⁹
I have bought copper, and it can be hard or harder to sell or trade. I like copper but not as an investment. I just like it and have bars and 1 oz rounds too. To each his own.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
oh so true
this is the argument i've made to dissuade people from "stacking" copper
scrap wire is cheaper per pound than "rounds & bars"
try stacking old electric motors
it's not poor man's silver. it's a foolish man's folly
i'll also re-iterate the point on the premium for 1/16th pound of copper. you might pay 10% on a silver eagle, but a full pound of copper melts at $4.06 a Pound. your 1/16 pound round will cost you $1.60. the melt value on it is 25.375 cents. that a 530% markup
save your money and eventually buy silver.