Anyone Buying Copper? And if you are Why?

I can't help but look at the copper rounds and bars that are being sold. They are very pretty. BUT - a 1 oz copper round sells for close to the bid price of an entire pound of copper. For instance I just saw several different 1 oz rounds being offered at from $2.49 to $2.75 each. That's roughly $39.50 to $44 a pound. Current bid on copper is $3.07 a pound.
That's one hell of a premium on copper!!
Is anyone buying these? And if so - why?

 

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I have ONE copper round in my collection and that is a 1oz Freedom Girl. Only because I love the design. Beyond that, copper bullion is a waste IMO.

 

I bought a few nice designs and I use them as metaphorical "coal mine canaries" in my storage boxes to see if I have some outgassing toning my coins. It's another lower tech version of those copper-content plastic bags.

 

Copper rounds IMHO are a horrible investment because the premium is too high. If I wanted to invest in copper long term, I would buy something like a pallet of copper romex, (house wiring). Always in demand, and tracks closer to copper prices. My dad was an electrical contractor, and did very well physically hedging this way. Lucky for him he had a large storage area, because he once bought a semi load when copper was low and on sale. He held onto to it for a few years and was able to use it/sell it later when romex was three times the price.

 

I will admit I do have some copper. I bought a silver 1oz $10 Liberty Dollar and when I bought that a copper 1oz $1 Liberty Dollar came with it. I think I paid $20 for bought of them. I also have a couple I managed to win in a raffle.

 

Now that is the best idea yet that I've ever heard for investing in copper. Not only are you investing in copper at a good price, but doing it in a way the copper can be used without the cost of melting it and turning it into sometime useful.

 

Copper is back up to $3.07 a pound, or $6140 a ton. A ton takes up about 1.5 cubic feet if it's solid; as bars, rounds, pipe, or wire, it'll take up more space, maybe a lot more. When you go to sell it, you're going to have quite a bit of weight and volume to haul around.

$10000 of copper is a heavy load for a pickup truck (1 2/3 tons).

$10000 of silver is a heavy load for a backpack (42 pounds).

$10000 of gold is a heavy load for a pocket (half a pound).

If you have reason to think copper's price will skyrocket while other metals don't, have at it -- but I see no reason to expect that.

 

I'm not too worried about copper shortages anytime soon:

https://en.wikipedia.org/wiki/Bingham_Canyon_Mine

 

I was in the air conditioning business for over 30 Years and Copper was very good to me in the early 1980,s at a $1.25 pound !! made many trips to the scrap yard
Way to many to count, but as an investment probably not the best.

 

I think that even with my tremors, I could sink a putt into that'n.

 

My "investment" is pulling pre-1982s out of circulation in case, in the next 800 years, they decide to legalize melting cents. Until then, the jar by my desk is just another tripping hazard.

 

Copper rounds will never be an investment. I have a few because I like them, but that is all. I do have a lot of romex left over from when I built my house and that is probably worth a whole lot more than any copper purchases ever will be. I put copper pennies aside, but I am only paying face value for those so that is not really an investment.

 

Oh yeah, you be trippin' alright!

 

Well, it's the cheapest way to have "bullion copper"-besides tearing pipe out of foreclosures. I guess I'm not that hardcore?

 

Said somewhat in jest or not, you may want to consider looking more into this, at least if making any assumptions as to future value based upon coinflation-type claims.

 

Not sure if you are calling my 10lbs of Stinkin' Lincolns a waste (it probably is), or if you are saying I should pick up more of them (I do-every time I get change at the store).

 

I certainly didn't intend to say it's a waste, and simply because it's a personal decision. What's best for one isn't automatically best for another.

My hoped-for point had only to do with the fact that coinflation-types sites improperly value the copper contained in such cents, leading many who save them to have unrealistic expectations.

My apologies for the confusion.

 

What he's saying is that bronze and brass, what real cents are, has a FAAAAAAAR lower scrap value than copper.

 

In a nutshell, yes.

 

https://rockawayrecycling.com/scrap-metal-prices/

If and when melting cents becomes legal, you'll see a few more lines on that.