Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
A better way of investing in copper
>
Reply to Thread
Message:
<p>[QUOTE="justafarmer, post: 1378385, member: 3926"]EVEN IF US CENTS WERE LEGAL TO MELT</p><p><br /></p><p>If you wanted to move a significant volume of them you would have to sell to a scrap yard. When a scrap sells their scrap copper in the 40,000 Lb truck loads they aren't even paid spot so don't expect a scrap yard to pay you spot. Problem is copper cents are not easily recognizable the scrap yard is not going to take yuor word for it. For all they know you could be delivering a load of zinc cents and trying to pass them off as copper. So your load will have to be sorted and verified. That takes time and money and special equipment. So you can expect an even greater discount. When the scrap dealer delivers a truckload of copper cents to the mill - the mill is going to approach the load with the same attitude and will sort and verify so the scrap dealer will be paid at a discount which will be passed to the original seller. Also cents are not pure they are 97.5 % copper so there is another discount. I say when it is all said and done - selling a significant volume expect to receive around 40% of spot or about 1 cent per cent.[/QUOTE]</p><p><br /></p>
[QUOTE="justafarmer, post: 1378385, member: 3926"]EVEN IF US CENTS WERE LEGAL TO MELT If you wanted to move a significant volume of them you would have to sell to a scrap yard. When a scrap sells their scrap copper in the 40,000 Lb truck loads they aren't even paid spot so don't expect a scrap yard to pay you spot. Problem is copper cents are not easily recognizable the scrap yard is not going to take yuor word for it. For all they know you could be delivering a load of zinc cents and trying to pass them off as copper. So your load will have to be sorted and verified. That takes time and money and special equipment. So you can expect an even greater discount. When the scrap dealer delivers a truckload of copper cents to the mill - the mill is going to approach the load with the same attitude and will sort and verify so the scrap dealer will be paid at a discount which will be passed to the original seller. Also cents are not pure they are 97.5 % copper so there is another discount. I say when it is all said and done - selling a significant volume expect to receive around 40% of spot or about 1 cent per cent.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
A better way of investing in copper
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...