For all you copper fans and investers according to coinflation, copper is up $0.13 increasing the value to 3.72/lb. A pretty large jump since the last few months of slow activity.
I suspect there are more people selling junk silver now that bought it at over $25 an ounce or paid a premium than there were selling a year or two ago. In general people might be more likely to sell junk at spot or below if they bought it at $5 or $10 an ounce.
Copper is a pretty good indicator of economic direction worldwide. I think you are starting to see a recovery around the world, and the house passing a bill late last night helped ease concerns on the US.
Are there really ordinary people who invest in copper? I mean, $0.13 is a decent increase, but only if you had a massive volume. Just curious as I'd never heard of investors buying up copper. I suppose if one had an empty warehouse it might be doable. Guy
I am sure you are aware there are a lot of people who invest in copper pennies. I just pay attention to it because I check silver and gold prices on coinflation and noticed today it was the biggest increase in one day I have seen in months for copper.
I cannot imagine someone here buying PHYSICAL, but there's an ETN for your IRA/brokerage acct now: JJC http://www.reuters.com/article/2012/12/17/us-jpm-fund-copper-idUSBRE8BG0I820121217 http://www.resourceinvestor.com/2013/01/02/copper-etfs-and-copper-stocks-about-to-move-big?ref=hp
Unless someone had a lot of capital and a lot of storage space than it is a tought investment physically. But even holding a small amount where it doesn't take up a lot of room in your home can be nice to watch increase in value over time.
I did - but it's not an active or dynamic thing with me - I just picked up a few thousand wheats and put them out of sight.
There are lots of reasons I collect copper, but its bullion value is not amongst them. Although I do not invest that way, I'm sure others do, and I do appreciate you passing along that info.
Want to invest in copper, buy a small cheap low grade deposit of refractory and transitional copper mineral with low acid consumption properties and I will make you very wealty.
That is pretty smart though, if you want to invest in copper pennies common wheats are the way to go. If they can be bought at a good price of course. If for some reason copper bombs, hopefully people will still be interested in the numanistic value of the wheats. :smile
I going to answer this yes and that there is another forum that I visit that deals in "copper trade units," but then I noticed your use of "ordinary people" and now I am thinking the answer to your question is probably not.
