Copper?

I am seeing a considerable amount of copper bars and rounds popping up on the market lately. I know their value is cheap, but has anyone considered begining to collect a little of it.

 

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I don't mind pulling copper cents from circulation, but these copper bars and rounds are generally sold at really steep premiums that will leave the buyer buried. If you like them as a novelty then go for it, but as a bullion play I would suggest to stay away.

 

Thank You for your input.

 

+1 to that!

Check out my website if you are interested in copper pennies!

 

Couldn't agree more. Pulling copper from pennies is a good investment, but it is ridiculous to pay the premiums that are places on copper rounds and bars. An oz of copper currently doesn't even cost a quarter so why would anyone really want to pay $2-$3 and more for a oz copper round? Unless you are collecting them for looks, it is an awful investment if you are buying for bullion value IMO.

 

Copper is not a precious metal and never will be. Unlike pre-65 coinage, coins today barely have any purchasing power. If you put $100 today in silver and copper, in 30 years they may maintain similar purchasing power. However, which is easier to store 30 pounds of copper or three troy ounces of silver?

 

Exactly why I invest in silver. Copper weighs too much, isn't worth enough and like you said isn't a PM. Hopefully someday I will have too much silver taking up space and will have to sell it to buy gold.

 

Are you focusing on Silver coins or bars?

 

[video=youtube;19r-oJzBQUM]http://www.youtube.com/watch?v=19r-oJzBQUM[/video]

 

Currently coins only. I don't collect bars because if the price of silver ever drops the coins a good amount of the coins I have as bullion still have some numanistic value as well. Plus I enjoy holding and looking at the coins.

Also I do have about $27 in copper pennies just from grabbing them here and there. I do keep them, but I don't hoard them so to say by going out of my way to buy them. I think if one could buy common wheat pennies that would be one of the best ways IMO to invest in copper. Because like I said about silver coins, if copper goes way down, there should still be value in the fact that they are wheat pennies.

 

Problem is, if you spent $100 today on copper rounds, you wouldn't get 30 pounds, but closer to 30 ounces.

You'd get more copper for your buck by saving your quarters and dimes -- their metal content (combined copper and nickel) is worth about 20% of face value. That's better than the 10% you'd typically get buying copper rounds. (Of course, the real play is in nickels, which already contain slightly more than five cents worth of metal.)

I understand that there are people laying in tons of nickels. I am not one of those people. However, I do save those I get in change, in my role as Gresham's Law enforcement officer -- if I can spend two nickels with a metal value of 10.3 cents, or a dime with a metal value of 2 cents, I know which I'm spending and which I'm keeping.

 

Self promotion that's nice. Now go read the rules!

 

Well, it might be a rules violation if there were a link. I don't see one in the post, the sig, or the profile. Of course, that leads me wondering exactly how he expects us to "check out his website"...

 

I was thinking the same thing. Can't promote much when you don't give us something to view.

 

lol...I even checked his profile to see if he had a website posted on there.

 

He posted it in his introduction thread yesterday evening.

http://www.cointalk.com/t221182/

 

It is possible he realized this and removed his URL but didn't change his wording. Yes, it is against the rules in the post as all indicated.

 

I like copper, but once I found out that an AVDP ounce was worth about 25 cents I decided not to stock up so much. I love collecting pre-82 pennies, as that's easy to do and is like free money, but I don't think I'll buy a bunch of "bullion copper". I have begun fishing English pennies out of the foreign coin bins. They weigh about a third of an ounce, and can be gotten for 12.5 cents each, so they are almost worth getting now just for the copper.

 

Why stop at copper? Stack up on tons and tons of aluminum! Copper investing is not practical and never will be. As others state, you will have to pay enormous premiums. Just stick to Gold, Silver, Platinum, and Palladium.

 

I'll stick to silver, a little gold and maybe a little copper, if the price is right. I like really old copper coins.