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