Copper....Worth it?

So lately I have been seeing more and more copper rounds. Just curious what everyone thinks about buying some rounds here and there. Some say it could get more expensive like silver although obviously not at the same level. Just want to know what everyone's thoughts on copper are.

 

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Scrap sells at $3 a pound but 1 oz rounds sell for $3 each? Not worth it/ a waste of money

 

You get about the same amount of copper in 10 pre-82 copper cents as one of those 1 oz copper rounds.

 

Yeah, but it's illegal to melt the cents.

 

Since this is already heading in that direction, if considering copper cents, avoid what you read online and instead take the time to speak to a scrap dealer/refiner. You may be surprised to learn that contrary to what is so often claimed, "copper" cents are worth nowhere near their copper content due to the fact they're in alloy form, so even if made legal, you're not going to be paid what online numbers often suggest.

That said, if you like copper rounds, collect for this reason only. As the gentleman in post #2 said, you're simply never going to see metal prices high enough to recoup the premiums paid.

 

The reason I ask is because when you think about an emergency cash stash then it's useful to have large denominations since it takes up very little space but other smaller denomination have there uses too. It's not a great comparison but maybe you get what I mean.

 

That makes a lot of sense. I just don't know a whole lot about that sorta thing yet and it's hard to know what to believe when you read stuff online.

 

What @BooksB4Coins said is the truth. Any copper alloy, which includes pre-82 Lincoln cents (whether it is legal to melt them or not), is worth about 25% of the price of Grade A copper. For 10+ years, I've been trying to tell the fools that hoard the pre-82's that they're in for a rude awakening just because they're too lazy to make some phone calls and find out the truth.

Chris

 

I buy them here and there as novelties repops of my favorite coins. Or to give to the grand children, But only when provident runs them for .97 cents usually.

 

I think I get what you mean, but the one-cent denomination is too small.

Hard-money fans are fond of saying things like "a silver quarter would buy a loaf of bread or a gallon of gas in 1960, and today it still will." The implication is that someday ("soon!"), you might need $25 or $250 of "toilet-paper fiat" to buy that loaf of bread, but the silver quarter will still do the trick.

But if it's just a matter of the dollar losing its value, and your copper cents hold their value -- you'll still need 150-250 of them to buy that loaf of bread. Even if each one is worth a dollar or more of devalued currency, it'll still only buy a bit of crust.

It could be that copper's value will soar relative to everything else -- but I'm not seeing any reason at all to expect that. Betting on that is pure speculation, and kind of silly IMHO.

 

These rounds cost a buck each and in the catastrophic conditions which would be needed to even consider copper rounds as currency, I think these would be far more in demand.

 

Copper may have numerous industrial uses and therefore seem like a smart precious metals investment, but it is so plentiful, inexpensive to mine (compared to gold and silver) that it will likely never be valuable.

I know it might be attractive because it is inexpensive, but its premiums are exponentially higher than gold or silver. Plus, buying enough for it to be worth your while would be nearly impossible to store those hundreds or thousands of pounds. Don't buy it!

 

Copper is often the metal that is sold at the highest premiums. Current price is $2.56 and that's per POUND. (divide that by 16 rounds, comes up to 16 cents in an ounce worth).

If certain kinds of rounds have a collectible market of some sort, that's one thing. But for merely bullion type purchases, there is not going to be any profits to be made buying this online. Go to any website, not just ebay, every single online licensed bullion dealer will overprice their copper. Unless you just want a bar because it looks cool, that's okay.

I only do one base metal and that's nickel, the only type I feel safe with purchasing. Though I would like for some dealers to have bullion bars available. They seem to be the most difficult things to find, and I know they exist. I enjoy buying lots of European .999 nickel coins from the 90's-60's era. I own about 500 pounds or more in the form of obsolete coins. Most of which consist of Netherlands pre-Euro. I own many French ones too.

I've occasionally gotten nickel under spot price in some mixed Dutch lots (or mixed countries), though that is only some of the time and typically requires transactions with free shipping, or deals that simply don't get much exposure. With copper that is about impossible to accomplish. My average price on nickel so far is $4 per pound, and I'm confident it has already reached its bottom some time ago.

For a one or two time purchase I wouldn't mind owning a 2 or 5 pound copper bar, knowing that I will be paying a massive premium.

I've noticed as well Copper hasn't really moved much since I started my coin hobby in late 2011. I have more confidence in Nickel based on the charts over the years.

 

An emergency cash stash should be actual cash. No one is trading food for silver or copper or gold if everything falls apart.

As mentioned in terms of investment copper is horrible. The only way to make money on copper is to have massive amounts to play the small price moves. If you like the look of the copper rounds and want to get them since they are cheaper than silver counterparts by all means go for it.

 

Thank you for all the responses. Like I said I am new to all of this stuff so I figure the best way to learn some things is to ask questions to people who actually know what they're are talking about instead of random Internet stuff.

 

If you got the time and the space then.....it's still not worth it.

 

Its a complete waste unless ur just buying it to have. The premiums are outrageous and you will NEVER even break even. Now if you just want some copper, fine. But dont be thinking your going to make money. I will hope there isnt a group of copper bugs who are going to feel offended with my truth. If you wanna buy PM do it right, dont try to be cheap. Do it right and yes I mean gold. Dont believe ur gonna buy penny stock and get rich quick. Thats a fantasy being sold to you by the people selling this low price garbage.

 

If they are hoarding these pennies taken from circulation in a near 0 % interest economy then their cost is close to 0. So how that makes them fools I dont know. I have seen some people hoarding enough of them then sell them for profit ( to real fools ) so those people made a profit from a zero risk investment cant be that foolish.

 

But when I say the same thing about silver....

You do know that copper usage in industry is far far far far greater than silvers ey

 

These are all the exact same reasons why silver is a joke. Just not as big of a joke as copper but a joke just the same. I almost wish there was an overbearing, annoying subculture of copper bugs to attack your comment here. Never mind that ur comment is right. I still would love to see a group of religious copper bug fanatics who just know its going to da moon soon and ready to attack anyone who posts facts they dont like. By the way silver production cost is very low and seeing as how its almost all by product it could be said its production cost is 0