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. -jeffB

    -jeffB Greshams LEO Supporter

    Well, most containers of mercury are round...
     
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  3. Lemme Caution

    Lemme Caution Well-Known Member

    Luckily, I've always had a special appreciation for the wise guys of the world. ;)
     
    Last edited: Nov 7, 2017
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  4. -jeffB

    -jeffB Greshams LEO Supporter

    If copper goes to $3 per ounce, and everything else goes up 16 times as well, it'll still take several rolls of copper cents to buy a loaf of bread or a gallon of gas. Not worth it, in my opinion.

    If copper alone goes up 16 times, it's very, very bad news for all of us. At that price, there would be a massive surge of copper thefts from A/C, plumbing, and so on. A (non-electric) car would go up by several thousand dollars, a house would cost tens of thousands more, and so on. Without wages (and everything else) going up by a corresponding amount, it would get really ugly.
     
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  5. Lemme Caution

    Lemme Caution Well-Known Member

    Just think, to procure enough copper to have a value equal to that of several pounds of gold you would likely have to go into the tractor-trailer business; somehow, it just doesn't seem all that practical anymore. ;)
     
  6. ValpoBeginner

    ValpoBeginner Well Known Supporter Supporter

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  7. Lemme Caution

    Lemme Caution Well-Known Member

    Copper, apparently, is this year's "new black".
     
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  8. -jeffB

    -jeffB Greshams LEO Supporter

    Suppose you want to protect $200K in savings, and "don't trust the banks" (or the brokers, or the gummint, or whatever). In gold, that's a bit more than 10 pounds. In copper, it's 32 tons. You're going to need a bigger bug-out bag...
     
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  9. ValpoBeginner

    ValpoBeginner Well Known Supporter Supporter

    Well good for us that these things take quite a bit of time. At only 20 cents per ounce, it would take awhile to get to 3 bucks. I made a mistake earlier in this post by thinking the that copper prices as listed by CBT are listed by the ounce.... Thank God I was wrong... otherwise wed be in for major economic reform.
     
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  10. Lemme Caution

    Lemme Caution Well-Known Member

    Or, you can just build your Apocalyptic Avenger Tank with it.
     
  11. Lemme Caution

    Lemme Caution Well-Known Member

    I'm just waiting for the day beach sand dollars become the latest stacking craze.
     
  12. ValpoBeginner

    ValpoBeginner Well Known Supporter Supporter

    Yes that is always true with futures trading in regard to copper.... It's based on in The Future How much copper will be mined and sold... with bitcoins, they can disappear with the electrical grid's disfunction. Which can occur in several ways.

    These are not tangible assets, but much like paper money.... it is one Entity promising to pay another a price agreed upon in advance.

    In the case of Bitcoin the Value goes up because there are only so many of these cryptocurrencies available. No one has to guess at how much is left, like copper. It is a definite thing. Until, and you are most correct on this Finn, the Electrical systems fail, and like the destruction of the infrastructure of the credit firms in the movie Fight Club, as Pitt's character suggested, when the power is gone everyone goes back to zero.

    Funny that we depend on copper heavily for both these forms of investment. Trading is basically done electronically through in most of the world copper and fiber optic cables.

    Without good old (Cu) , Coin Talk, the lights, the heating, air conditioning, our cars, everthing electronic would never have existed. There would be far fewer individuals on the planet. So it is something we all need to be aware of.

    Copper is not the best conductor of electricity, but it is the cheapest.

    BTW.. Ag is the best conductor.
     
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  13. ValpoBeginner

    ValpoBeginner Well Known Supporter Supporter

    Its been done... see "History of currency amongst native cultures of the world" . Luckily it didn't work out. Unlike copper, society doesnt owe its carrying capacity to Sand Dollars, Wapum Beads, or Conch Shells.

    If copper ceased to exist the population would decrease by at least 60%.
     
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  14. Lemme Caution

    Lemme Caution Well-Known Member

    Very informative. Thank you.
     
  15. Lemme Caution

    Lemme Caution Well-Known Member

    Now that is a staggering thought. Does that mean copper is the cause of rush hour traffic jams? :rolleyes:
     
  16. E Pluribus Unum

    E Pluribus Unum Active Member

    Just wondering... I bought the one-pound copper bar from an online precious metals vendor as a novelty. But I notice that many of these online vendors sell copper as an "investment." I would not buy copper as an investment (in its physical form) simply because other investments are more profitable and practical. So, I assume that promoting copper as an investment is more of a sales pitch. Here is some info I came across:

    "3 Reasons Why Copper Should Be Considered Today
    Unlike the other precious metals, the demand for copper is primarily driven by industrial needs. Copper is a great conductor of electricity, yet is also a flexible and strong material. It is also attractive because it is resistant to the corrosive process. Just about every industry utilizes the benefits of copper in some way – including computers, smartphones, and tablets.

    Copper is also an important part of our infrastructure. You can find copper in our homes with our plumbing systems, in our power distribution systems, and even in the cables that are used to transmit information from one place to another. Copper has really helped us make the world a much smaller place and it does so without much pomp or circumstance.

    Many investors are given the advice to buy gold and silver because they expect economic stagnation or decline. It is the opposite when it comes to buying copper. Investors are often told to buy copper if they expect economic growth. That's the first reason to consider copper for your portfolio – because you see industrial growth as a potential in the future.

    The second reason is because global copper supplies have been reducing while demand has been increasing. It's been over 100 years since a significant new copper mine was developed, which adds a level of scarcity to this market that other precious metals just don't have.

    Because of this scarcity, we come to the third reason why copper is an investment to think about: diversity. Although diversification can't prevent all losses, having copper as part of a precious metals portfolio can help to make sure your assets are able to withstand difficult times. If you have found copper for sale and it seems like a good price, then do a little research. Look at current copper news and trends.

    Buying copper could be the investment decision that changes everything.

    How Can I Buy Copper Today?
    The three most common ways to purchase copper today from an investment standpoint is to purchase copper coins, rounds, or bullion. You'll want to look for copper products which have .999 millesimal fineness..."

    Maybe this investment strategy is fine, but I don't agree with buying copper rounds or bars.
     
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  17. -jeffB

    -jeffB Greshams LEO Supporter

    ...and a way to ship them for less than a dollar a pound, which is about what ground shipping usually runs for heavy packages.

    Depending on the form factor, you might be able to take advantage of Priority Mail flat-rate shipping to get a better rate. But once you pay a retailer to ship copper to you, after they've paid the manufacturer/mint to ship it to them -- well, that's considerable overhead on a $3/pound commodity.
     
  18. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    I'm sorry, but wow....
     
  19. Lemme Caution

    Lemme Caution Well-Known Member

    In order to make a decent profit with this metal you have to be ready and able to deal in and handle literally TONS of it, and just why on earth would anyone want to do that.
     
  20. E Pluribus Unum

    E Pluribus Unum Active Member

    I know that there is a way to buy gold without having physical possession of it. I am not sure how it works, but I assume that it's a matter of paying for the gold and getting a document that states you own it. Then, call your broker when you decide to sell it. I imagine you could purchase copper in the same manner. This seems like the only practical way to invest in copper.
     
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  21. Lemme Caution

    Lemme Caution Well-Known Member

    That's for sure; otherwise, you would have to move yourself and everything you own into the street to make room for your new "copper roommate".
     
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