Is copper the new silver? Prices higher. Bullion in bulk, likely to pay off?

Discussion in 'Bullion Investing' started by ValpoBeginner, Nov 3, 2017.

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Can I turn in my copper pennies for melt value?

Poll closed Nov 9, 2017.
  1. No

    27 vote(s)
    96.4%
  2. Yes

    1 vote(s)
    3.6%
  1. ValpoBeginner

    ValpoBeginner Well Known Supporter Supporter


    I guess I was thinking that a better way of investing in copper would be in trading futures or binary options on a platform like Forex---Lol.... I don't think my family would appreciate it if I had these huge blocks of copper to use as leg rests. Uhh... well maybe if they were designer. Lol.
     
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  3. Lemme Caution

    Lemme Caution Well-Known Member

    It will likely cost you at least as much in gas money to get to the dealer as you would ever receive there in exchange for those cents (by the way, just a footnote, but we've never actually had any "pennies" as such here in the U.S.), and that's supposing he even wants to buy them, which he doesn't. :rolleyes:
     
  4. E Pluribus Unum

    E Pluribus Unum Active Member

    I bought this one pound copper bar as a novelty at $6.99. With current ask at $3.15 per pound, I paid $3.84 above ask. That is a premium of 122%.
    ONE POUND COPPER BAR.jpg
    If I had 100 pounds of copper to sell, where would I sell it? Not only is the premium high, but copper is not a very liquid asset (at least not owning copper in its physical form) - unless you go to the scrapyard. In Detroit, all of the abandoned houses have been stripped of copper plumbing. Stripping several hundred pounds of copper plumbing per day can be profitable, but this practice is no longer legal (I assume it never was.)

    Exactly. At these prices, $700 would get you 100 pounds of copper to lug around. For around the same price, you can buy a 1/2 oz gold. The one-pound bar does make for a good paperweight.:D
     
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  5. Lemme Caution

    Lemme Caution Well-Known Member

    Purchased might just be a bit closer to the reality of the situation.
     
  6. Lemme Caution

    Lemme Caution Well-Known Member

    Yep, the copper thing smacks of opportunism, i.e., someone's opportunity to relieve others of their cash.
     
    Blissskr likes this.
  7. Lemme Caution

    Lemme Caution Well-Known Member

    Both (successive) comments right on the money. :greedy:
     
  8. Lemme Caution

    Lemme Caution Well-Known Member

    Who's Cooper?;)
     
  9. Lemme Caution

    Lemme Caution Well-Known Member

  10. Lemme Caution

    Lemme Caution Well-Known Member

    What's priced by the twice?;)
    Sorry, I'm just having a little bit of fun with this today.:sorry:
     
  11. Lemme Caution

    Lemme Caution Well-Known Member

    Last edited: Nov 6, 2017
  12. NorthKorea

    NorthKorea Dealer Member is a made up title...

    Lemme... couldn't you have posted that all in a single post?
     
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  13. TheFinn

    TheFinn Well-Known Member

    I meant 10 times Cu melt of ~$3.20/lb. At least I know that people are actually reading what is posted, rather than everyone speaking. Thank for making me clarify.
     
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  14. Lemme Caution

    Lemme Caution Well-Known Member

    No problem, I always read everything very carefully. By the way, thanks to you too for having such a good sense of humor.:happy:
     
  15. Lemme Caution

    Lemme Caution Well-Known Member

    The only problem that I can think of offhand that might occasionally occur with buying and owning options and futures is that the physical metals that they represent might not actually exist in the real world. Just sayin'.:rolleyes:
     
  16. TheFinn

    TheFinn Well-Known Member

    It's the only thing I've found to keep you from getting depressed when bad things happen, and I don't want to be numb with valium.
     
  17. TheFinn

    TheFinn Well-Known Member

    Kind of like the Bits in Bitcoins. They're only there when the lights are on.
     
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  18. Lemme Caution

    Lemme Caution Well-Known Member

    That is an excellent analogy, and an equally troublesome and worrying but rather unfortunately all too undeniably realistic and pragmatic thought.
     
  19. Lemme Caution

    Lemme Caution Well-Known Member

    Thanks...that's probably the funniest thing I've heard and consequently the best laugh I've had all day! Will you, as they say, be here all week? :happy:
     
  20. fish4uinmd

    fish4uinmd Well-Known Member

    Copper is 3.11 per POUND.
    http://www.kitcometals.com/charts/copper.html
     
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  21. Lemme Caution

    Lemme Caution Well-Known Member

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