Copper 1 AVDP Ounce Bullion Coins

Comments

• PerryHall Posts: 46,859 ✭✭✭✭✭

  January 8, 2012 5:09AM

  
  
  << <i>More and more of these are showing up at shows.
  
  I bought a bunch of the St. Gaudens design today. Do you guys think there will be some sort of a market for these? They are making some of them with coin designs.
  
  They are nice looking and for $1.50ea I hope I didn't just waist money. >>
  
  
  
  I think you meant to say "waste money" but you can answer your own question by trying to sell a few to a dealer.

  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

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• LanceNewmanOCC Posts: 19,999 ✭✭✭✭✭

  January 8, 2012 5:10AM

  .
  i haven't done the math in a while on these nor do i know what copper is per pound right now but simple math will tell you unless
  
  copper is $16-25 a pound or more then paying $1-1.50 per ounce seems a little risky unless you are buying for novelty
  
  what should they be if copper is $5-10 a pound?
  .
  

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• golfer72 Posts: 3,588

  January 8, 2012 5:16AM

  Wouldnt it make more sense just to pull copper Lincolns out of circulation?

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• joefro Posts: 1,872 ✭✭

  January 8, 2012 5:31AM

  If you're just wanting copper than yes, pulling Lincolns out of circulation is pretty much risk free. These are just estimate numbers and Im too lazy to look it up but I believe copper is in the $3/lb range and yes these tubes of 20oz copper rounds sell for $20 or more so you're looking at a 700% premium. I asked a dealer about these at the Houston Money Show and he admitted they are a ripoff in terms of copper investment, but that "old ladies come in and empty their inventory of them at $20/tube". They are showing up because people are buying them. They go for about $20/tube on eBay too.

  Lincoln Cent & Libertad Collector
  

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• RhinoRacing Posts: 44

  January 8, 2012 10:30PM

  I know that just buying these for the copper value is a huge mistake because copper is about $3.45lb.
  
  But I was more interested if there is a market for the "coin value" one dealer was selling the walking liberty version for $10 ea and another was selling them for $5 ea. So there has to be some market for these or they would not be doing it. Question is how much of a market. Sounds like not much of one yet.
  
  Thanks for the info guys

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• notwilight Posts: 12,864 ✭✭✭

  January 8, 2012 11:23PM

  
  
  << <i>.
  i haven't done the math in a while on these nor do i know what copper is per pound right now but simple math will tell you unless
  
  copper is $16-25 a pound or more then paying $1-1.50 per ounce seems a little risky unless you are buying for novelty
  
  what should they be if copper is $5-10 a pound?
  . >>
  
  
  
  So will copper be traded in AVDP ounces insted of Troy ounces? Scrap copper sells at junk yards in AVDP pounds. --Jerry

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• 291fifth Posts: 24,698 ✭✭✭✭✭

  January 8, 2012 11:24PM

  A one-way market.

  All glory is fleeting.

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• PerryHall Posts: 46,859 ✭✭✭✭✭

  January 9, 2012 12:26AM

  
  
  << <i>
  
  << <i>.
  i haven't done the math in a while on these nor do i know what copper is per pound right now but simple math will tell you unless
  
  copper is $16-25 a pound or more then paying $1-1.50 per ounce seems a little risky unless you are buying for novelty
  
  what should they be if copper is $5-10 a pound?
  . >>
  
  
  
  So will copper be traded in AVDP ounces insted of Troy ounces? Scrap copper sells at junk yards in AVDP pounds. --Jerry >>
  
  
  
  The Troy system of weights is reserved for precious metals. Copper is not a precious metal and never will be.
  
  

  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

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• Wingsrule Posts: 3,051 ✭✭✭✭

  January 9, 2012 12:57AM

  A one-way market.
  
  As MJ would say..."This".

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• ModernCoin Posts: 394

  January 9, 2012 1:23AM

  I'll buy one or two of each I see if the design is nice just for the sake of having them. I bought several of the Ron Paul coins from Provident for $1.50ea this past weekend at FUN. If you're buying these as a metal play, than you will bury yourself as you're paying an astronomical premium (over 1000%). You would be much better off playing FCX in the market, or simply buying copper cents from the guys who sort them for minimal markup. An even smarter physical copper play IMO is hoarding nickels. I like to pick up a box of nickels on occasion if I'm at the bank for something else already. That way I'm playing physical copper with ZERO overhead. Granted they won't be legal to melt for years, and it will take a while for a market to develop for them, but buying nickels at face value seems like a no brainer to me. Stacking physical Cu in bar or round form is certainly not the smartest way to play copper...

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• MsMorrisine Posts: 35,928 ✭✭✭✭✭

  January 9, 2012 1:24AM

  buy one or two because you like the design and the fact it's a big copper coin, but don't expect to resell it easily. there is only a small market for them right now and it is, as has already been described, a "one-way" market: the dealers sell them and that is it.
  
  the premium over spot is ridiculous and unless we have Copperfinger hoping to irradiate the world's supply of copper, you won't see your money back by selling it for melt.
  
  

  Current maintainer of Stone's Master List of Favorite Websites // My BST transactions

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