Copper (bullion) bars, kinda pricey...

Now these are REALLY cool... but look at the prices... and people are actually BUYING them! Am I missing something here?!

The Aluminum bars are cool, too, but again, pricey.

http://cgi.ebay.com/MASSIVE-3-KILOS...ryZ39484QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

 

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Here are the current spot prices for semi-precious metals from kitco.com according to the auction, that's 7lb or 112oz.. which would be a spot price of about $414.4
----------------------
Copper July 08,16:09
Bid/Ask 3.7771 - 3.7861
Change +0.0068 +0.18%
Low/High 3.7703 - 3.7861

Nickel July 08,16:09
Bid/Ask 9.1966 - 9.2873
Change +0.0000 +0.00%
Low/High 9.1966 - 9.2873

Aluminum July 08,16:09
Bid/Ask 1.3980 - 1.4026
Change -0.0009 -0.06%
Low/High 1.3980 - 1.4035

Zinc July 08,16:09
Bid/Ask 0.7877 - 0.7968
Change +0.0000 +0.00%
Low/High 0.7877 - 0.7968

Lead July 08,16:09
Bid/Ask 0.7285 - 0.7375
Change +0.0000 +0.00%
Low/High 0.7285 - 0.7375

 

That's per pound... copper is 3.78+ per pound, not oz. That's under 30 bucks (spot) for a 3 kilo bar, which that seller is listing for $140.

 

oh wow, good call.. where's my head at today.. I suppose I'm so used to looking up gold and silver prices that I just defaulted to oz's. While we're on the subject of copper.. I know you guys probably have already heard of this...

The U.S. Mint has announced that a new regulation, effective immediately, makes it illegal to melt down U.S. Cent and Nickel coins. Due to sharply rising metal prices, the U.S. Cent (99.2% zinc and 0.8% copper core, plated with 100% copper) has a current melt value of 1.12 cents per coin. The nickel, (75% copper and 25% nickel) has a melt value of a hefty 6.99 cents per coin!

http://coins.about.com/b/2006/12/14/new-law-it-is-illegal-to-melt-down-pennies-and-nickels.htm

 

http://www.reuters.com/article/marketsNews/idINN0852345820080708?rpc=44

If I'm interpreting this article correctly copper is selling for between 3 and 4 dollars a pound. 3 Kilos (kilo=2.2 pounds)......yeah a bit pricey.

 

Well, kind of like coins.. if the going auction rate for that amount of copper happens on a regular basis, wouldn't that drive the value of copper up? Or are the bidders just unaware?

-DJ

 

Some folks just haven't a clue.

 

Hope that seller loses his shirt .
rzage

 

If it weren't for the ridiculously inflated prices... I'd buy one, or more than one even.

How dumb do you have to be to buy a current production 3 kilo copper bar for $140 when it's worth less than $30 spot. Wow... WOW!

Again, unless I'm missing something... :goof:

 

The reality is this, that is there wasn't much consumer demand for copper in terms of bullions. So the seller can just mark whatever he wants. If no one buys it, all he can do is to lower his price. There is no need to make it as dirt cheap as possible if there is no competition.

Sometimes people just refuse to understand how expensive it is to refine copper but I agree that it's overpriced.

 

I don't see how he will ever lose his shirt. It costs him $2 to put that on E-Bay. He can do that 10 times for $20 total. That means it'll be out there for almost 3 months. All he needs is one Rube to do a "Buy It Now" and he's made off like a bandit.

Notice, it's not an auction - just BIN.

Ahhhhh, the new econcomics.

 

I can't imagine hauling around that kind of weight for such a small $$$ amount. I'd rather haul around silver or gold if I gotta haul the weight! :kewl: But then again, that's juss me!

 

Lol what is the point in copper bullion? Its not even a precious metal. Unless you're going to make alot of homemade copper wires and do some electrical work or make some counterfeit cents, I see no point in buying a 7 pound bar of copper for any price.

 

Next thing you know, we're no longer coin collectors . . . we're junk yard dealers and hauling cars to the shredder. Lol.

 

Is copper considered bullion? I thought bullion was reserved for the so-called "precious metals".

 

Base metal.

 

Exactly.

While you don't need physical metal to invest, it sure would be :kewl: to have a big, heavy bar like that at a reasonable price.

As a comparison, take a look at 99.9 Copper tubing. The bars are RIDICULOUSLY overpriced.

Then again, more power to him if people are dumb enough to buy them at those prices.

 

Yes copper is a base metal. Bullion should be reserved for precious metals.

 

maybe they want to melt it down and make cheap jewelry for kids. wayyy too big and heavy unless you are sitting on fort knox.