The increase in copper does not get the attention because it did not achieve an all time high like Gold did. The price of copper tanked at the end of last year. The move back up to where it was now looks like a huge gain. If it has a 131% jump this year we will be looking at copper prices at around 7.50 /lb! Pennies will be jumping out of circulation if that happens.
How far do you think copper will have to increase before copper pennies become more of a main stream investment? I am still surprised that my local coin store does not see the benefit of copper and nickel investing.
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson
It going to take a major change in the metal of the coin, lifting the melt ban or the stopping of making the coin before the copper pennies becomes mainstream.
I recently talked to a coin dealer who said that when the value of a Cu cent exceeded 3 cents sometime during 2008 he was selling rolls of Cu cents for $1.50 and he would sell a few from his shop and at the coin shows. Independent from that comment, I read somewhere that when the intrinsic value of a coin starts exceeding 3X face is when the public starts becoming aware...so my best guess would be that Cu would have to go to somewhere north of $4 / lb. The higher the price beyond that would continue to increase public awareness. Once Cu prices exceed that amount, I think you will see Cu cents start disappearing from circulation fairly quickly. Up till that time we have a unique opportunity to gather as much as we can.
That true right now we can get penny for one cent and sell for at least 1.50 time face and that is a 50% gross return. Minus some expense you can still make a 30% return. That does beat just about anything else. If we wait and hold we should get a greater return yet. Let's kepp this to ourself for now. The rest of the world will figure it out later.
Copper outshines Gold!
Forum Locked
Posted - 12/28/2009 : 23:25:52
