So you say you wanna invest in copper

Discussion in 'Bullion Investing' started by Blaubart, May 22, 2013.

  1. Blaubart

    Blaubart Melt Value = 4.50

    Here's a good opportunity that I'm considering:

    http://bozeman.craigslist.org/for/3781389378.html

    It's probably $300 worth of pipe fittings for $50. It might even be a little less than melt value. Either way, it sure beats buying 1 oz copper rounds for 10+ times melt value.
     
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  3. Slider

    Slider Member

    Buying copper at melt value is better than some ideas, but still doesn't make sense when you can buy it under melt from the bank.
     
  4. Silver Addict

    Silver Addict New Member

    Copper is 3.29 right now. That means you need 91 pounds to get $300. I'm with you on copper bullion. Seems crazy to spend 100-200 percent premium on dressed-up copper.
     
  5. -jeffB

    -jeffB Greshams LEO Supporter

    I'm not much of a plumber. How can you tell that this ad is for copper fittings, not plastic?
     
  6. Blaubart

    Blaubart Melt Value = 4.50

    True, but only 15 lbs to get below melt on this one considering the asking price is $50.
     
  7. Blaubart

    Blaubart Melt Value = 4.50

    Good point. If I do buy them, it will be in person.
     
  8. gubni

    gubni Active Member

    the problem is with Copper bullion is that it so difficult to sell anywhere near value.
     
  9. Revi

    Revi Mildly numismatic

    I like keeping pre-82 pennies as a way to hoard copper. They are already in an easy form. They are worth 2 cents and can be gotten for one.
     
  10. Prime Mover

    Prime Mover Active Member

    Taking it one step further, if you were able to buy for $50, get back $100 on cash-in at the local salvage yard and then hit the bank for $100 worth of copper pennies (I know you'd need a couple sessions probably to CRH and pull it all), you'd end up with about $220 worth of easily stackable/storable copper for your original $50. Then you could sell them by the pound on eBay for 4x the price, and soon enough you've made $1000 on a $50 initial investment. Lather, rinse repeat and you'll be a millionaire in only a few short decades... :)
     
  11. rush2112

    rush2112 Junior Member

    They may have a melt value of $.02 but no one will pay you melt value for them.

    Just this week, I dumped 350 lbs. of sorted copper pennies into a coinstar machine because no one was willing to even pay face value for them. With a law that states it's illegal to melt copper pennies, I had no choice.
     
  12. Revi

    Revi Mildly numismatic

    I don't know why people don't keep rolls of pre-82 pennies as bullion. I know that right now you can't get 2 cents a piece for them, but you can just hang onto them and see what happens. The value of a penny is doubled, and you have a store of value that isn't as valuable as silver or gold, and that you can store anywhere. I see no downside to hanging onto them. The worst case is putting them in a coinstar at some point and spending the money. The best case is like the wheat pennies which are worth around 10 cents a piece now. Or more...
     
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