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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/09/2010 : 09:29:55
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February 9, 2010 Will Copper Become the “New Gold?”
By Peter Krauth, Contributing Editor, Money Morning
The Statue of Liberty is one of the most recognizable American icons in the world.
And as she towers 305 feet above Ellis Island, what's Lady Liberty wearing? Copper - 60,000 pounds of it.
Clearly, copper's big in art. It's also a key metal that keeps the world economy humming. Copper consumption has grown at an average annual rate of 4% since 1900. China and India - which some analysts describe as the combined market of "Chindia" - where one of every three human beings resides, needs loads of this element to meet its modernization requirements for electricity and infrastructure.
Copper is also used in today's currency, where most U.S. coins are actually 92% copper, and 8% nickel. (clad coinage)
But there's no denying that, given the choice, nearly everyone prefers gold. It's valuable, it's seductive and it's mystical.
Ancient kings fought wars to amass it. Yet, for thousands of years, its most enduring role has arguably been in the form of money - as a store of value.
That's because fiat-paper-currency experiments have never lasted, and always ended badly.
Increasingly, followers of the Austrian School of Economics are nostalgic for gold to regain its former glory, perhaps "backing" a new international currency.
But despite gold's much longer history as true money, some believe that copper - the much humbler metal - could be positioning itself to upstage gold.
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Think positive. |
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copperhead57
Penny Collector Member
USA
255 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/10/2010 : 05:06:42
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| As through out history copper may again become the common man's precious metal. For those who say copper isn't precious, I would reply that you should have tried telling that to the poor who would work and beg for a single copper penny. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
 Posted - 02/10/2010 : 17:14:46
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The day will come (anyone's guess how far off it is) when all of us forum members will be patting ourselves on our collective backs for our foresight in hoarding coins of all types when hyperinflation makes paper currency worthless. Ponce will be giggling in Oregon, Hoard will be chortling in CA, Highroller will be laughing all the way to the bank, and TooMuchCopper sure won't be selling any more. Prepare to be bankers after the Great Devaluation.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 02/10/2010 : 18:03:20
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| beauanderos....I was wondering if you had stopped writing to go into 24 hour a day sorting. Perhaps the copper drop has sent you back to writing. keep up the good work. |
visit www.crazycoinguy.com
for information on how to sort, what to sort, and sorting equipment. We also sell copper pennies in bulk, and other coins. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 02/10/2010 : 18:09:44
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I'm placing the emphasis of my time management on sorting. I don't have time to write (it can take six to eight hours per article) and sort both, so sorting wins for now. I'm using archived articles to submit and trying to build up my hoard while the public is unaware. I wouldn't be much of a writer if I couldn't even convince myself of the urgency which savers should direct to accumulating copper cents, and that's what happened. I talked myself into sorting instead of writing. Go figure  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Will Copper become the New Gold?
Forum Locked
Posted - 02/09/2010 : 08:26:48
