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Is copper the new silver? Prices higher. Bullion in bulk, likely to pay off?
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<p>[QUOTE="E Pluribus Unum, post: 2900016, member: 74265"]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%.</p><p>[ATTACH=full]698347[/ATTACH] </p><p>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.)</p><p><br /></p><p><br /></p><p><br /></p><p>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.<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="E Pluribus Unum, post: 2900016, member: 74265"]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%. [ATTACH=full]698347[/ATTACH] 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[/QUOTE]
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Is copper the new silver? Prices higher. Bullion in bulk, likely to pay off?
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