My starting investment has arrived .....

Went to the mailbox today and look what I found....its just the beginning of my monthly investment. Got a little copper for fun, going to focus on Silver and Gold from here on.

 

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If you have the time, you can get boxes of copper at the bank for 71.4% of spot by coin roll hunting pennies. It's like a fun little treasure hunt for 1983 and prior 95% copper coins, among errors, rarities, etc.

If it becomes legal again (which I suspect it will if the US gov't gets rid of the penny due to cost constraints, like our neighbors up north have done already), you can melt and churn out some high purity copper bars.

 

fun. what is the weight of that gold camp piece ?

 

just a gram.....not in the budget right now to buy it by the ounce....so ill pick up a little at a time.

 

Your 71.4% figure is false, and for the simple fact you're attaching the price for A grade to an alloy. Likewise, even if melting ever becomes legal, no one is going to be churning out "high purity bars" (unless one considers 95% "high purity") for the very same reason no one is doing it today; the cost of refining to grade A will put you in the hole. If one wished to make such things, they'd be better off just buying the metal in the correct form to begin with. Don't take my word for it... contact a refiner and ask.

 

I thought it was implied to refine the copper pennies... and, true, if it was small quantities, it wouldn't be cost effective. If someone gave you close to spot price for your batch of copper pennies, then that would make sense. As it is now without any sort of refinement and other costs, it is 71.4% based on the melt value and cost of the penny at the bank.

 

Save up and buy it by the ounce, anything less is hurting you by overpaying for the mark up on smaller/fractional amounts. It will be so much more satisfying in so many ways to have it and hold it by the ounce as well.

 

No one is going to give you anything remotely "close to spot price", which is for grade A only, for a 95% alloy, legal or illegal. Again, I do understand where you're coming from with the 71.4%, but it doesn't matter. This isn't like silver where 50% or 40% (or whatever) will still net you a significant percentage of spot.

 

Yes, perhaps not now, but as it is the speculative nature of an investment, if copper soars in value, it would be worth it to hoard pre-1984 US pennies. One could even sell bags of copper pennies directly to folks who want them as pennies. I've done this once with over 20lbs of copper pennies from when I had fun CRH pennies, and put them in a flat rate padded envelope (around $5-$6 for shipping).

 

I just went to that site. 16.99 for 16 ounces of copper? Really? That's over 800% of spot price.

 

If you want to invest in copper, try investing in a copper mining stock. Easier to liquidate, and easier on your storage situation. Besides, who's going to ship it for you when the zombie apocalypse hits the fan?

 

Yeah probably. Hoards of copper pennies were a nice byproduct when I did some CRH for fun, as I never actually intended to invest in copper that way.

You'd be surprised what people were paying for them! Not sure if people still are at the same rate, but maybe.

 

What people are paying to enjoy collecting copper rounds and the designs pressed on them, designed to part them with their bucks, pales in comparison to what they could be amassing in copper stocks for much less and for what the potential return on such an investment might be compared to what they are never likely to get repaid in physical copper or loose in shipping the stuff to a buyer yet to be found willing to pay for the stuff and cost to obtain it when the prices have risen.

 

Well, now could be a good time to invest in copper mining stocks since they are at fire sale prices. However, you will need to do research {or have a skilled stock analyst do it for you) to make sure you aren't buying into a potential bankruptcy, which would make your stock worthless. Proceed with extreme caution!

 

And for pity sake stay away from "Penny Stocks" likely old closed down mines that will also never likely re-open. A classic example is SCEY who owns closed gas wells. These folks have been living off ignorant investors for years by selling worthless stock.

 

If you will message me, I will give you the name of a major mining company, traded on the New York Stock Exchange, to start your research with.

 

Knowledge is key.

 

My Copper purchase was purely cosmetic ....really enjoy their look. My next order will consist of just Silver and Gold....as for stocks, I'm already heavier in the market than I should be at this time.

 

We know you bought it for "cosmetic" reasons from the initial post, but this is an investment thread, not a beauty pageant nor a place to seek justification for what or why you bought something. Copper can be like a flower that time devours. It's very reactive to oxidation and gets sickly green at times.

If you want to invest in "COPPER....the poor mans gold", try investing in a copper mining stock. As it was mentioned, they're easier to liquidate, and easier on your storage situation. You can always shift your positions in the market to cover a copper investment if you must have one/some in your holdings and they can come at far less of a premium than "bullion" copper. Moving your paper (digital) holdings is much easier than moving a physical investment as well.

I would recommend reevaluating the attitude behind your tag line. Is copper the poor man's gold because someone went poor investing in copper, or simply accepted something ranked less than best as something to invest in? Is the man poor because he resigned himself to copper rather than staying focused on gold? The bullion dealers KNOW that many can't afford to buy gold, so they dangle copper and tempting designs on copper pieces to tempt you away from saving up to purchase gold. Don't be deterred. Those same dealers will not be as easy to convince to buy back your copper as they will be eager to reacquire your gold.

 

sorry.