Copper

Discussion in 'Bullion Investing' started by 3BStuff, Feb 19, 2024.

  1. 3BStuff

    3BStuff Active Member

    Hey Bullion Boys, Is copper a good investment just 30 dollars worth would that become worth more at some point?
     
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  3. Coins4Eli

    Coins4Eli Collector of Early American Copper

    Depends on what your paying for it, but in general I would say no. Right now the copper spot price is about 24 cents an ounce. The cheapest I could find for sale online is $1.95 for a one ounce product. That's a huge premium, its just not worth it. If you have $30 to spend I would suggest you just buy an ounce of silver.
     
    3BStuff likes this.
  4. derkerlegand

    derkerlegand Well-Known Member

    just save your pre-'82 pennies
     
    Last edited: Feb 19, 2024
    longarm likes this.
  5. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I was in the air conditioning business for
    over 30 years and in that time recycled
    Thousands of pounds of scrap tubing back
    in the early 80,s as I recall it was .65 cents
    a pound for #1 clean and .45 cents for dirty, I use to bring about $500 extra a month and that was allot back then.

    But as far as being a good investment
    in your context, I would say most definitely
    not.
     
    rte, Neal, -jeffB and 2 others like this.
  6. Neal

    Neal Well-Known Member

    If you want to make money investing in copper, buy stock in companies that produce it. I'm not saying that is in any way a good investment, but you'd have more chance of a significant gain than in investing in copper "rounds." Or you might want to invest in rare copper coins. The problem with copper as bullion is there is such a difference between what you pay for small quantities and what you'd eventually get for it. Also, because it is relatively cheap, storage becomes problematic if you try to physically keep large amounts.
     
    -jeffB likes this.
  7. -jeffB

    -jeffB Greshams LEO Supporter

    Thirty dollars worth of copper would be almost 10 pounds of the stuff. If you want to "store value" at that density, you must have either a lot more space or a lot less clutter than I do...
     
    Neal likes this.
  8. The Half Dime

    The Half Dime Arrows!

    I've gotta agree with derkerlegand on this one. Billions of copper pennies are still circulating every day, and you can easily get them in your change. Here is something you could do:

    Buy up a couple boxes of pennies. This can make a good start as there is not only copper in most of them, but you can find wheat cents, error coins, and Canadian cents as well.

    Often, 1-5 pounds of copper show up in the boxes, with some QEII Flowing Hair (1953-1964) cents as well (don't bank on their sound because they sound just like ours). Wheats average around 5-20 a box, with some having more or less.

    1 oz copper rounds are generally a collector's item, and shouldn't really be invested in. If you want copper, those pre-82's are worth about 2.4 cents.

    Good luck! ;)
     
    longarm likes this.
  9. The Half Dime

    The Half Dime Arrows!

    That's truly why a lot of us don't have many copper rounds. Out of the over 117,000 1 oz Walking Liberties that have sold on Ebay through DB Metals, I bet that they're in at least 25,000 different households. I have one myself, and it's more of something you collect because you like it.
     
  10. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Copper isn't really that collectible. It is easily turned back into new Plumbing one of my stacks to turn in soon. There are a few Bath remodels in that T can.
    upload_2024-2-19_22-22-26.jpeg
     
  11. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Thats why I stopped stacking silver a few
    years back just to heavy and bulky compared to GOLD so that’s what I have
    been focusing on.
     
    SensibleSal66 likes this.
  12. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Here's a very easy visual for you to compare the space required to stack copper.

    2/19/24:

    Gold spot per oz = $2,030
    Silver spot per oz = $23.14
    Copper spot per oz = $.24

    In order to stack the same $2,030 dollar amounts, you'd need:

    1 oz Gold
    88 oz SILVER (5.5 lbs)
    8,458 oz Copper (529 lbs)
     
  13. -jeffB

    -jeffB Greshams LEO Supporter

    Yeah, but security! If someone wants to steal two grand from you, would you rather they try to drop a half-dollar-sized coin into their pocket, or back up their truck to load a quarter-ton of buckets? :troll:
     
  14. Jeffjay

    Jeffjay Well-Known Member

    But two things would have to happen to make them worth saving. First the law would have to change on melting them and second the price of copper would have to jump dramatically to make it worth the cost of melting them.
     
    Neal likes this.
  15. The Half Dime

    The Half Dime Arrows!

    Amen!
     
  16. desertgem

    desertgem Senior Errer Collecktor Supporter

    There is an exception to the above law for copper cents. They can be melted down
    IF they are used in "Artistic Situations " such as producing copper plates, even copper toilets , spittoons, necklaces, rings, etc. etc.
    Jim
     
  17. Collecting Nut

    Collecting Nut Borderline Hoarder

    Copper is relatively inexpensive but the room it would take up to store it is a lot. As an alternative I collect 1 Oz. Copper rounds. They are interesting and there is a large assortment to choose from. I have about 200 of them.
     
  18. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    So, I can use them to hammer a few bronze swords?
     
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Even if you triple your investment, is it really worth it ? :wideyed:
     
  20. -jeffB

    -jeffB Greshams LEO Supporter

    I'll still happily pay $30 for a coin that's worth $90 now. But instead of paying $30 for a coin (or a pile of them) that might be worth $90 at some point in the future, I'll put that money into an index fund or something -- unless I'd really enjoy having and holding the coin(s).
     
    GoldFinger1969 likes this.
  21. slackaction1

    slackaction1 Supporter! Supporter

    I guess I am not keen, as I would gladly take a triple on my Coins. from 2012 till present.
     
    Coins4Eli likes this.
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