Copper Bullion for only $1.48 over spot!

Check this out from Gainseville. A 1oz copper round selling for $1.76. Its only $1.48 over spot per coin! Really? In my opinion Anybody who buys that has a real problem. They clearly do not understand how to manage money.






I almost think its predatory for gainsville to even offer such an item.
It would be almost as stupid as taking tap water, filtering it, and then bottling it up to sell. I mean who would buy such a thing? Uhh wait a minute here…..

 

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Ridiculous.. But still cheaper than some others I have seen.

 

Haha. that is cheaper then the guy in my town selling them on craigslist:
1oz copper rounds (.999 fine) for $2
8oz copper bars (.999fine) for $15

 

Copper bullion is currently $4.10 per pound, not per avp. ounce.

Jim

 

I don't think any of us thought it wasn't per pound. You can get a pound of copper rounds for $30!

 

Good point. I do think they are nice looking though.

 

It's not worth my time yet but we will see what the future holds. :thumb: I know Provident Metals is making a big splash with their copper ASE's, I mean ACE's. They do look great!!

 

I bet they're using the famous "walking liberty" motif to justify the price. It's a pretty piece but even I don't want spend that. Call it being cheap or just thinking sensible when it comes to market trends. I would rather hoard pre-82 pennies.

 

For the last 2 months in my neck of the woods there was a flooding of random copper bullion from various 1 avdp ounce rounds, to random pound/troy pound bars. 2 separate dealers were selling their kilo bars for $25 and $30, 1 pound bars for $20, a troy pound for $15, and the avdp rounds for $2-$3. A vendor at my local flea market had the troy pound bars for $75 each!!
Don`t get me wrong....some of the bars with their various motifs as well as the "ACE" rounds do look nice, but to pay that much over spot for them is nothing short of idiocy. Unfortunately there are plenty of people out there who think copper IS $4 an ounce and not a pound, thus giving these dealers some good business.

 

I saw some 1 oz copper Buffalos at a show recently for $5. I would like to get a few, but not for that price. I wonder what a tube is going for on e-Bay... $32.95 to buy it now, way under $5 per!

 

I like these type of copper rounds. No, I'm not collecting them because of their copper value, that would be silly. I like the way they look. One of my favorite coins is a copper round with the Buffalo nickel obverse on it (reverse is different). It may be a big percentage over spot, but no matter how you look at it, 2 dollars is not a lot of money.

 

i hoard nickesl and pennies for copper content, i cant bring myself to paying that kind of premium. i did snag 200 Lakota rounds for .75 each off ebay and ended up doubling my money on it selling on a forum. but i will never buy these things to hold.

 

I do the same thing - you can't beat paying BELOW melt price for 'bullion' or 'junk.'

Speaking of which, perhaps 'bullion' isn't the right term to use for the copper art bars/rounds (but probably a good marketing strategy)? I mean, doesn't bullion imply that you are buying it for the metal content alone (obviously plus a small premium for manufacturing, shipping, etc)? If you think of the copper 'art' stuff as 'collectible' - maybe it makes more sense - or at least sounds less ridiculous?

BTW - before I get flamed :sniper:besides the previously-mentioned pennies and nickels, the only copper stuff I own is ONE of those NORFED $1 copper rounds - and I definitely bought it as a 'collectible' and not as bullion. I can't remember how much I paid, but it certainly wasn't much (but was definitely more than melt/spot).

 

I agree. I have considered picking up a couple of copper rounds like these because they look nice and they are cheap enough that it doesn't hurt the wallet.

 

Would make a cheap but cool pocket piece.

 

Pretty harsh words for not understanding the situation. Should they sell them for 0.40 a piece in your opinion? Just make them for free out of the kindness of their hearts? What should a reasonable price be?

The people I've talked to about them say the refining process is somewhat lengthy and expensive to get pure .999 copper. They don't just dump a freshly dug up bucket load of pure copper in a machine, melt it down and you have .999 pure. They have to refine it. Then they have to make them and ship them out. The additional costs of making them is what drives the price. They're good quality and they're a neat collectors piece.
Any price less than $2 a piece seems reasonable to me. We aren't China. Yet.

 

the lady i dumped them on said she was giving them to kids for christmas, im sure for the kids it'll be equivilent to a lump of coal.

 

I agree. I like these rounds. A good bullion investment? Probably not right now, but if you factor in the risk that some are taking to steal copper wire from circuit boxes these are dirt cheap.
And people are still paying $5-$10-$15 and up for Norfed copper rounds, because of the court case. Maybe the copper exchange will be involved in some kind of criminal hearing for putting Morgan dollar and Walking liberty designs on these and the prices will skyrocket.:devil:

 

There's just a bottom line price these are going to be whether people like it or not. They're not going to sell them for 0.30, 0.40, 0.80 or $1. You factor in refining and production costs, wages, overhead etc... They wholesale it to a dealer for a profit. Then the dealer has to make a profit. Then you have to get the product to your house.

Everybody should be used to mark ups by now. We pay $4 for a gallon of gas that vaporizes into thin air and we're left with nothing. Can we say a gallon of gasoline is worth twice as much as a copper round that can be saved forever? I guess so. That's the real tragedy. Think how much oil there is in the world.

I've literally seen an 8 pk of 16 oz. Gatorades for $8.99 at one grocery store. Went to another grocery store 70 miles away from that one and the same pack was $4.89. I've seen these copper rounds for $5 a piece at a show. They'll run you $1.70 on ebay. I haven't seen them selling for much less than that.

Some people are only happy to buy if the seller is losing money. It happens but it's not the norm.