Opinions on Copper investing....

Discussion in 'Bullion Investing' started by Goodwin83, Sep 29, 2012.

  1. Goodwin83

    Goodwin83 Active Member

    Alright so I want some honest opinions on saving copper. I know the penny isn't copper anymore for the obvious reason that it isn't cost efficiant anymore. What I want to know is some opinion on saving copper for LONG TERM investment. Now I also am not talking about super hoarding as in saving every single copper cent I come across. Just having a supply on had in case copper jumps again.

    No I would in no way purchase these bullion coins or bars. To me it just seems like its a little to much to invest to buy a 1lb copper bar at 7-10 bucks when a pound of copper at current melt is like 3.70/lb. Just seems like you would have to wait a LONG TIME for any type of return if any.

    Now having said that I leave the floor open...
     
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  3. Pi man

    Pi man Well-Known Member

    I would advise not to go out and buy copper rounds or anything, just find a jug and put the coppers you come across in it. If you go roll hunting, the copper pennies add up very quickly.
     
  4. Goodwin83

    Goodwin83 Active Member

    I do that every so often...get a box of pennies and go through them. And Iknow about the copper rounds and bars...ridiculous
     
  5. bsowa1029

    bsowa1029 Franklin Half Addict

    The only way pulling the copper pennies and saving them will work out is if it becomes legal to melt them. And i don't think it is a practical investment, in order for it to be you'll have to dedicate A LOT of space to storing MANY MANY cents.
     
  6. coinrookie85

    coinrookie85 Member

    i have jugs that hold around 60 pounds of pennies. i plan on filling as many up as possible. its a good two way street if you think about it. at 2.4 cents each currently, your gaining in the end. if copper sky rockets, then ok, if it sinks and doesnt recover, you have a crap load of pennies. either way your not loosing out if your only paying face value for the pennies. this is my opinion though and will differ from others.
     
  7. Elapid

    Elapid Member

    I don't see any good reason not to pick out the copper cents. I have plenty of room under the bed to stash all that I will come across. There was a time when you couldn't melt silver coins so you never know. I wouldn't buy copper, but I will pick out the free stuff.
     
  8. thecoin

    thecoin New Member

    You can also sell them to companies like apmax
     
  9. yakpoo

    yakpoo Member

    Do you envision a scenario where copper increases at a significantly higher rate than other commodities...such as silver or gold? If yes, then I would go for it!
     
  10. George8789

    George8789 Leaving CoinTalk for good

    Since when does apmex buy copper cents?
     
  11. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Before you start hoarding the 95% copper cents, you should call the reclamation centers in your state and find out what they pay for copper alloy. I think you'll find that it is no where near the price for Grade A (pure) copper, and then maybe you'll start spending those Lincoln cents.

    Chris
     
  12. easj3699

    easj3699 Well-Known Member

    i disagree, 90% silver is a perfect example, sure it is on a lower scale but if you can eventually sell it for whatever times face without melting i think it isnt a bad idea. sure you might have to wait another 20 years but a profit is a profit.
     
  13. thecoin

    thecoin New Member

    Well, apmax sells them, and so that means they get them somewhere
     
  14. Victor

    Victor Coin Collector

    Even if they did what would it cost to ship them?
     
  15. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    APMEX............American Precious Metals Exchange
     
  16. yakpoo

    yakpoo Member

    China? :scratch:
     
  17. adric22

    adric22 Member

    The 1-oz copper rounds and bars you can find are pretty much a rip-off. I did buy a tube of 20 round once just for the heck of it. They do look nice, but they cost way too much over spot. However, if you go for the larger bars of copper - you know, the ones measured in pounds or kilos rather than in ounces, you can get it much closer to spot value. Look for 5 or 10 pound bars, or even 10-kilo bars. If you are going to bother investing in copper at all, I suspect these are the way to go.

    I have bought bars made of titanium, nickel, copper, brass, niobium, lead, zinc, iron, stainless steel, and even aluminum. But I bought most of those as novelties. I doubt I'll ever get my money back on those. Well, maybe on the Niobium, but not the rest. Silver seems to be the best way currently to invest in metal if you don't have a lot of money.
     
  18. SilverForLife

    SilverForLife Member

    Copper rounds and bars as of today are still a scam.:dead-horse: 3-5x over spot is a joke. I would get some if it was like silver and traded near spot.:thumb:
     
  19. Goodwin83

    Goodwin83 Active Member

    Not even the increase at high rate but just a rise in price over time. Like the cost of living, I would imagine that as more copper gets used the price will go higher. How much higher is the question and I wouldn't expect it to just one day start soaring. I have been looking around and knew about Apmex selling them for over double face and selling out. I've even checked ebay and theres a big market there for them as well. However my reasoning is if I can get them for face by spending a little of my time sorting then then why not. Even if copper were to go up say another dollar over the course of the next 5-10 years then you certainly are making out. That would effectively put the amount of pennies at triple face. Granted it would take a large amount of them to make it worth it but as was said...a profit is a profit none the less. I do appreciate the feed back from everyone.
     
  20. rdwarrior

    rdwarrior Junior Member

    If you really want to invest in copper you may want to look into buying electrical wire, It is pure copper and while I am sure you will be paying quite a markup from spot price it is in a form that will always be easy to sell at the same markup. people will always need wire.
     
  21. quartertapper

    quartertapper Numismatist

    I think that if you believe hyperinflation is coming, saving copper cents may not be a bad move. The only problem is the amount of room it will take as you stockpile the stuff.
    As for the copper rounds, I have to agree that they are not a very good investment. I don't think the companies are trying to rip anyone off however. When you factor in that they pretty pay melt for the copper, then produce the rounds, package them, store them, market them, and pay employees to handle them several times, it doesn't seem very cost effective to buy, when compared to getting copper "pennies" for face value.
     
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