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Kurr
Penny Collector Member
306 Posts |
 Posted - 06/26/2008 : 09:17:25
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http://www.goldwhy.com/copper-bars.html
Why Invest In Copper Bars and Coins?
This site is all about precious metals with a heavy focus on my favorite metal, gold. Today, I'm going to do something a little different and take a look at a non precious metal which has been appreciating in value quite rapidly, copper. The picture to the left is a large stash of copper bars. Copper is a common metal and is used in many applications including gutters, wire, and pennies. However, demand currently exceeds supply and the US dollar is under a lot of pressure, forcing the price of copper to new heights.
Copper Pennies Are Worth 2 Cents
A very interesting fact: All pennies before 1982 (and some produced in 1982) are primarily composed of copper. All pennies after 1982 (and some produced in 1982) are only coated in copper. The reason for this is copper is worth more than the face value of the penny itself. According to Coinflation, the current value of a pre-1982 copper penny is over 2 cents. What does this mean to the metals investor? First, it indicates you should hoard all of your pre-1982 pennies. You get instant and free 100 percent appreciation by holding onto your copper pennies. Second, it may make sense to buy some copper pennies and bars. More as a hobby than anything else, I have brought home some $25 dollar boxes of pennies from the bank and sort through them by hand to pull out the pre-1982 pennies for investment. This is a cheap and fun weekend hobby. One guy has taken this hobby to the next level and has developed a copper penny sorting machine which sorts the copper pennies from the non-copper ones. If I had a garage, I would probably buy this because it's a great tool to sort through tons of pennies and get instant appreciation. If you are interested in investing in copper pennies, you'll want to get started immediately. Gresham's law states that bad money drives good money out of existence. In this case, the old pre-1982 pennies are "good" money and the post-1982 pennies are "bad" money. As more and more investors start hoarding copper pennies, there will be none left. How many silver dimes, nickels, quarters, and half dollars are in circulation today? Almost none. This is Gresham's law in action. The good news: You're still ahead of the curve and have time to start investing in copper pennies. *
*Article continued at top link.
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A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
Democracy is three wolves and two sheep voting on whats for dinner.
Freedom is armed sheep contesting the vote. |
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WilliamC
Penny Collector Member
USA
470 Posts |
Posted - 06/26/2008 : 14:29:00
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Great find!
However, you don't have to have a garage to sort pennies. It can be done in the comfort of one's living room.
If one's wife allows it that is :) |
Sorting In Northwest Mississippi |
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Kurr
Penny Collector Member
306 Posts |
Posted - 06/26/2008 : 19:48:11
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| Absolutely, I have a GREAT wife that allows it. I never REALLY want to encourage competition in my money supply chain tho!!! |
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
Democracy is three wolves and two sheep voting on whats for dinner.
Freedom is armed sheep contesting the vote. |
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Kurr
Penny Collector Member
306 Posts |
Posted - 06/26/2008 : 19:49:47
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| Absolutely, I have a GREAT wife that allows it. I never REALLY want to encourage competition in my money supply chain tho!!! |
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
Democracy is three wolves and two sheep voting on whats for dinner.
Freedom is armed sheep contesting the vote. |
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Nickelless
Penny Hoarding Member
USA
855 Posts |
Posted - 06/27/2008 : 01:44:56
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| I've got a more or less unused walk-in closet that I've set up as my penny sorting headquarters. I'll see if I can get a photo. |
Bid your heart out on my copper cent auctions : http://search.ebay.com/_W0QQsassZyellowbanks42301 |
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simplicitycounts
Penny Pincher Member
USA
167 Posts |
Posted - 06/27/2008 : 02:27:08
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| What about basements? :) |
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jpf231
Penny Collector Member
USA
297 Posts |
Posted - 06/27/2008 : 10:53:55
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| Yes - the basement - I have an elaborate, albeit small, setup in the cellar that I slither down into every chance I get. |
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cyberdan
Penny Pincher Member
USA
238 Posts |
Posted - 07/07/2008 : 18:00:40
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quote:
Originally posted by Kurr
How many silver dimes, nickels, quarters, and half dollars are in circulation today? Almost none.
Little does he know. Last week I hit the 1300 mark on silver halves found in circulation. That includes Barbers, Standing Liberties & franklins. |
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Copper article, Rydale mentioned!!
