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george454
Penny Pincher Member
242 Posts |
 Posted - 11/24/2009 : 12:39:25
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Ok I am missing something? I went onto the copper bullion section on Ebay today and I was totally floored at the prices of copper bullion. Know am I missing something or is my math really off. I was watching a 1 kilo bar, I bid on it a few days ago and it sold today for $23 not including shipping. This is were I am not following, if copper is at $3.50lb = .008 cents/gram @ 1000 grams (1 kilo)=$7.71 Melt Value. Know is my math off or are the people bidding on Ebay the same as the people running our country. If I have my math wrong let me down gently if not screw copper bullion I am sticking with my pennies.
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/24/2009 : 13:10:08
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| The buyers for Ebay's copper bullion bars are buying them at premiums chiefly for the value-added aesthetics. Yes, stay with copper pennies for a less costly way to accrue copper bullion. The plus is you will get at least face value on them and maybe more some day if you want to sell them. Not bad for loss of interest potential leaving the cash in the bank otherwise. |
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sheba
Penny Pincher Member
USA
191 Posts |
Posted - 11/24/2009 : 13:15:30
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No, IMHO, you aren't missing anything. Though I am a 'rookie' and a 'newbie' to PM hoarding, be it gold, silver (which I can't afford anyway), copper or nickle (which I can in modest amounts) I think what you are seeing is unintelligent purchasing of something that the purchaser 'hopes' will dramatically increase in price.
Of course, pure copper bullion is immediately saleable at going copper prices, but spending that much seems 'silly' to me. If I had 23.00 to spend at my discretion, I'd probably get 46 rolls of pennies and see what kind of 'teasures' and percentage of copper I could find.
After all, even though there is currently a melt ban, each .50 roll of pre 1982 Lincolns is worth in copper value about 1.03. Where else can you spend double your money (value, that is) that economically?
None of what I have written should be taken as a criticsim or 'slam' against anyone who has decided to invest in pure copper bullion. The day will probably come when I will wish I had been able to do that, too. But for now, paying $23.00 + for something that is worth $7.00+ sure doesn't make sense (no pun intended  )
sheba |
woof ... wag ... whine |
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 11/24/2009 : 14:02:25
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There is a premium on them because of the time, labor and resources put into them in order for them to exist.
Copper is not the easiest metal to work with at pouring temps for a start. Lots of energy to get it there. The fabrication of the bar, the refinement of the aesthetics, etc etc. And to get a good price on pre made bar you usually have to order tons, then still apply the labor.
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The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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jello_g
Penny Sorter Member
Canada
41 Posts |
Posted - 11/24/2009 : 15:14:05
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| Some of those bars look fantastic, especially the ones with a high polished finish. Easily worth the small premium if you want the aesthetics. YMMV |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 11/24/2009 : 15:25:53
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quote:
Originally posted by george454
Know is my math off or are the people bidding on Ebay the same as the people running our country. If I have my math wrong let me down gently if not screw copper bullion I am sticking with my pennies.
Some folks are willing to spend $100-$150 for a $25 box of fresh zinc pennies, or nearly a $1,000 for a single 1909 penny with an 'S' stamped on it.
It makes them happy. Go figure.
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Trust the government? Ask an Indian. |
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marine70
Penny Pincher Member
USA
150 Posts |
Posted - 11/24/2009 : 15:44:25
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| Back in the early seventies while in the us navy I went to school to become a molder. Molders pour ferros and non-ferros metals for the machinist mates. When we went over seas or on what we called a West-pac tour. While on our return we were told, that we needed to get rid of several hundred pounds of copper ingots. As you know these ingots do not deteriate. However we had to get rid of them so we could re-supply. These were thrown over the side of the ship between Hawaii and San Diego. Sure wish I could have kept some of them now. Talk about government waste. |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 11/24/2009 : 17:24:04
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The premiums over the spot value of materials are really labor and overhead costs to create the bars. Those bars don't get all shiny and cool looking by themselves. Somebody spent a lot of time(labor) and money(capitol) to create them.
That is why they often get referred to as art bars. You're paying for the "art".
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 11/25/2009 : 20:44:52
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| The Ebay prices often go ABOVE and BEYOND the labor and overhead costs. |
Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
+637 posts |
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jadedragon
Administrator
Canada
3788 Posts |
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misteroman
Administrator
USA
2565 Posts |
Posted - 11/25/2009 : 21:58:30
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| Def. worth the price for the quality of some of those bars sold on here |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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george454
Penny Pincher Member
242 Posts |
Posted - 11/25/2009 : 22:02:40
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I do realize their is a good amount of labor involved in these bars, but crap some of these go for way over melt. Well I guess I will just keep waiting for someone to hold a contest for me to win. Thanks for the thoughts.
P.S. These bars are fantastic looking. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/25/2009 : 22:04:08
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Even I have several copper bars in my hoard. I bought a lot of them from Nate at the coppercave. Recently I put a few stacks of them out at my table at a coin show. They were some of my hottest sellers! Every now and then someone would come along and pick up a 1 kilo bar and ask.. "How much does it melt for?" lol. You aren't going to get copper bars anywhere near melt because of the fabrication costs. Everyone else thought the bars were really cool looking reasonably priced stocking stuffers.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Scratching my head
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