Copper is not considered a precious metal
Copper
While not being considered a precious metal, it does have value. Most of coppers value is based off of the industrial uses. The need for copper is still in a very high demand, with a fixed supply. Could this be an investment worth looking at.
It is still sold in bullion form.
Coppers value
Historicaly copper is priced by the pound and not the oz. copper hit its high back in 2011, trading around $4.50 a pound and has been as low as .50cents a pound.
Currently it is trading at $2.91 a pound, 3 months ago it was at $2.45. Now that may not sound like much, but it has been going up daily. When silver and gold got smaked down last week, copper was up.
THIS MAY BE SOMETHING WORTH WATCHING
Should you buy Copper
My opinion is this, while it is not consider a preious metal, I do believe there is an opportunity for investment. With it still being considerably low in price, there could be some room for some positive gains.
Copper's all time high was in the same year that gold and silver saw there all time high.
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There's a lot of copper bullion bars and rounds out there. I own a little. It never hurts to diversify one's stack. Great Post!
Agree, what is it going to hurt.
My take: sure, copper is great. Just make sure you've got a Dodge Ram 3500 Dually, with a 10-ton trailer - when it's time to go and cash it in.
There's a past acquaintance of mine who made a $#!t-Ton of money by recycling metals. You name it: aluminium, copper, steel, iron, tin, junk, whatever - if he could haul it to the scrap-yard, they paid him real money for it. He had close to $100,000 wrapped up in his truck, trailer, and bobcat for digging the crap out of farmers' fields, etc. It was a lot of hard work.
Would I invest in copper? Only if there were no more gold & silver to buy. That day has not yet arrived. So, you can keep your copper. I have nothing against it. It's a great, useful metal. It's just not Silver, or Gold. And, it's just way too heavy to be practical for the everyday Silver & Gold stacker.
In fact, Silver is almost too heavy. It's great for stacking. But, once you've been doing it for a while - you start looking a lot closer at the Silver:Gold ratio - and hoping that it goes under 40:1 so that you can trade a ton of silver for a pound of gold. It takes up way less space in your home safe.
Yeah.......copper is where I draw the line. I know a few gold stackers who refuse to buy silver because it's too heavy (they say "what would you rather have in your pocket, one gold coin or 70 silver coins??") To that, I answer: BOTH!
I don't think in want 290 oz of CU though!
Stack On!
I occasionally still find a 95% copper penny in my change. I would hoard copper if I knew more of its utility. Interesting post, thanks for sharing.
You can't made wiring with gold or silver ( few exceptions ) so you need copper and you need lot of electrical wiring, so copper is great.
Actually, silver is a much better conductor of elecrtricity than copper is. So, yes, you can use it for wiring. It's just hella expensive to do so. Not very practical - but, technically, it's superior to copper in that regard.
Why wouldnt it be worth it? It is used in almost Everything and there is a limited supply of it, like there is everything else. Supply and demand
My only thought is I don't know where I would store the stuff. You would have to buy a large quantity, several hundred pounds for it to be worthwhile.
Coopers far to heavy to really invest in physically and it makes my hands smell lol I do love the look of it tho..I just love metals
I think the premium on copper bullion in astronomical. With the 1 oz rounds selling for over $1 each, sometimes up to $2-3/ounce. I do think copper has value, and I do horde/stack Canadian Pennies. They also have a bit of collector value since they are out of circulation now. I can get them for for face value and the metal value is about 1.5-1.8 cents/coin (but i often get non copper ones mixed in). I think if you can stack old pennies then it's a great investment. PS the same goes for old 99% Nickels.
Dont own any, but it maybe the only way for me to own the SBSS series :)
I don't have any investment grade copper, buy I do have a few kilo's of old copper coins. Some nice pieces my friend, thanks for sharing.
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That's ironic that you posted about this because I was thinking about foing the same! Very nice post!
Here.
I just bought some copper coins/rounds, with the high premium at about $1 - $2 each. This is ONLY the case because I LIKE THE COIN DESIGN.
Golden State Mint has copper coins/rounds and I like the designs (Silver Shield and others). Probably NOT getting others just for a basic design.
It was an easy decision - hold off buying ONE silver round this week and get TEN copper coins with the cool designs that I like.
I would not buy a 'bulk' or 'generic' copper coin just to invest in the metal at this point BECAUSE I can just save pennies for that purpose.
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Thanks for your story. I always put aside pre 1983 pennies that are pure copper coins. These coins are always worth more than a penny in melt value and therefore always worth putting aside. I use a scale as it is the easiest way to determine wether it is pure copper or not.