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jaceman
New Member
USA
7 Posts |
 Posted - 02/12/2010 : 11:51:41
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Poll Question:
I'm new here, and rather than offer up the common, "Hi. I'm new; glad to be here." I thought we would play a game of Nostranumismatics (gold star to the first person who figures out the word I just coined... oh, another pun -- on a roll (oops, there's another one) here) so that I could better get to know you.
So, here it is...
When will we see copper hit $1 (U.S.) an ounce?
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I'll get around to making something a little more clever later; for now, just be thankful I took the time to type something in at all. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 02/12/2010 : 11:55:00
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| Copper one of the most abundant resources on the planet. Price may go up. But never reach PM rarity status. |
Trolling is an art. |
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twocents
Penny Collector Member
398 Posts |
Posted - 02/12/2010 : 12:00:53
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| Although, it is already more than $1 per ounce depending on the ounce, right Nate. |
Just my two cents! |
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natsb88
Administrator
USA
1850 Posts |
 Posted - 02/12/2010 : 12:05:41
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quote:
Originally posted by twocents
Although, it is already more than $1 per ounce depending on the ounce, right Nate.
Yup  |
Nate
The Copper Cave
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 02/12/2010 : 12:06:37
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| Copper would have to go to $16 a pound, long way to go, but could be very quick in an inflationary enviroment. |
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jaceman
New Member
USA
7 Posts |
Posted - 02/12/2010 : 12:07:28
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| Seven votes so far, pretty even spread with almost half thinking none of us will ever see it. If the Nostradamus who predicted inside of five years is right, I'll pay 2.5 cents for all of your coppers now. |
I'll get around to making something a little more clever later; for now, just be thankful I took the time to type something in at all. |
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jaceman
New Member
USA
7 Posts |
Posted - 02/12/2010 : 12:08:42
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quote:
Originally posted by twocents
Although, it is already more than $1 per ounce depending on the ounce, right Nate.
Lucy, you've got some splaining to do!
??? |
I'll get around to making something a little more clever later; for now, just be thankful I took the time to type something in at all. |
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 02/12/2010 : 12:23:45
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quote:
Originally posted by jaceman
quote:
Originally posted by twocents
Although, it is already more than $1 per ounce depending on the ounce, right Nate.
Lucy, you've got some splaining to do!
???
Check out the "Copper Cave" under Nate's post, your'll find some nice 1 ounce rounds in the $5-$8 range |
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copperhead57
Penny Collector Member
USA
255 Posts |
Posted - 02/12/2010 : 12:24:35
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| If hyperinflation kicks in, copper will go well beyond $1.00 per ounce. |
copperhead57 |
Edited by - copperhead57 on 02/12/2010 12:25:06 |
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jaceman
New Member
USA
7 Posts |
Posted - 02/12/2010 : 12:36:10
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quote:
Originally posted by Mikep2020
quote:
Originally posted by jaceman
quote:
Originally posted by twocents
Although, it is already more than $1 per ounce depending on the ounce, right Nate.
Lucy, you've got some splaining to do!
???
Check out the "Copper Cave" under Nate's post, your'll find some nice 1 ounce rounds in the $5-$8 range
I had just done that... and I looked at E Cohen, and Metal Mint, and a couple of others. I almost swallowed my tongue!
$30 bucks for 2 pounds (1 kilo bar) of copper... oh my stars! And that may be the best deal I saw out there. I think I need to start minting copper bullion! |
I'll get around to making something a little more clever later; for now, just be thankful I took the time to type something in at all. |
Edited by - jaceman on 02/12/2010 12:37:24 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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natsb88
Administrator
USA
1850 Posts |
Posted - 02/12/2010 : 13:07:03
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quote:
Originally posted by jaceman
quote:
Originally posted by Mikep2020
quote:
Originally posted by jaceman
quote:
Originally posted by twocents
Although, it is already more than $1 per ounce depending on the ounce, right Nate.
Lucy, you've got some splaining to do!
???
Check out the "Copper Cave" under Nate's post, your'll find some nice 1 ounce rounds in the $5-$8 range
I had just done that... and I looked at E Cohen, and Metal Mint, and a couple of others. I almost swallowed my tongue!
$30 bucks for 2 pounds (1 kilo bar) of copper... oh my stars! And that may be the best deal I saw out there. I think I need to start minting copper bullion!
The Metal Mint brand is no longer made, and E Cohen has a bad reputation for lackluster communication and very slow shipping. Currently the lowest priced 1 kilo bars (2.2 pounds) are from NMS, which I'm selling for $21.95 (Realcent price is $1 less). |
Nate
The Copper Cave
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 02/12/2010 : 13:21:04
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Are we talking paper price (theoretical MV), real life scrap price, or what the market (investors) is willing to pay? Right now those numbers are different.
Correct me if I'm wrong, but I wouldn't think art bars can really be used to judge prices. There is a lot of "art" premium factored into the price.
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jaceman
New Member
USA
7 Posts |
Posted - 02/12/2010 : 13:25:54
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quote:
Originally posted by natsb88The Metal Mint brand is no longer made, and E Cohen has a bad reputation for lackluster communication and very slow shipping. Currently the lowest priced 1 kilo bars (2.2 pounds) are from NMS, which I'm selling for $21.95 (Realcent price is $1 less).
I hope that's working out well for you. I won't be giving you 21 bucks for 35 ounces of copper, but I have no problem with you asking for it if you have people who will. I say, more power to ya! |
I'll get around to making something a little more clever later; for now, just be thankful I took the time to type something in at all. |
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Be Nice to BankTellers
Penny Sorter Member
USA
77 Posts |
Posted - 02/13/2010 : 18:57:52
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| And what will be the likely percentages of copper cents in circulation when that happens? |
Grandpa always told me, "Back in 1964..." I listened.
Selling copper cents @ $2.50/lb. + shipping. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/13/2010 : 20:01:32
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Jaceman
Nice to have you onboard. |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 02/14/2010 : 11:24:17
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I'm hoping for $5 to $6 a pound before I take the big dirt nap.
Any higher than that and we're hyper-inflating (something I'd rather not go through!). |
There's profit if you melt things!!
8{> |
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terminal99
Penny Sorter Member
53 Posts |
Posted - 02/14/2010 : 12:29:26
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| How much would a copper cent be worth if copper goes to $16 a pound? |
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terminal99
Penny Sorter Member
53 Posts |
Posted - 02/14/2010 : 12:32:05
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quote:
Originally posted by terminal99
How much would a copper cent be worth if copper goes to $16 a pound?
I figure 10.596 cents for each copper penny. |
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Common Cents
Penny Sorter Member
82 Posts |
Posted - 02/14/2010 : 14:12:32
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Welcome aboard Jaceman.
I didn't vote in the poll because there are too many variables that control copper's price to be able to accurately predict a time frame. But as others have noted, in a currency crisis, you could see the price hit the $16 lb. level really quickly. If the dollar goes into a freefall and hyperinflation kicks in, the price for copper could be in the thousands. Anybody know what a pound of copper costs in Zimbabwe these days? Another factor could be an oil crisis of any sort. If the Mideast flares up into a larger conflagration and the Straits of Hormuz get blocked, oil prices could go beyond $200 a barrel. That would have a dramatic effect on the cost of mining copper out of the ground. And the price would get further support because expensive oil spurs the building of alternative energy infrastructure, which employs copper extensively in its wiring.
I can also envision a scenario where the copper price does get bid up due to investor demand. If silver gets to the point that it's selling for a triple digit price, many investors who have long since been priced out of the gold market might start turning to copper in order to hedge against rampant inflation. Silver is currently viewed as the 'poor man's gold'. But extensive dollar devaluation might put silver out of reach for the average Joe. Copper could take over the title of the poor man's gold. Copper has been used as a monetary metal for thousands of years. If there's a widespread loss of confidence in fiat currency, copper's value could increase substantially as its role in the economy became more central.
So in a 'perfect storm' scenario, it becomes almost impossible to predict how high the price could rise. But that being said, I wouldn't be at all surprised to see copper exceed the $16/lb. level in the next few years, as I expect some pretty rough sailing for the dollar in the days ahead. |
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twocents
Penny Collector Member
398 Posts |
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johnbrickner
Penny Pincher Member
154 Posts |
Posted - 02/14/2010 : 17:00:17
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| Going for the gold star. Nostranumismatics = a Nostradamas prediction regarding the future of a numismatics items(s) or in numismatics in general. |
"I Killed the Bank" from the tombstone of Andrew Jackson |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 03/23/2010 : 19:28:17
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| Copper will hit $1 per ounce when the $USD depreciates 80% from here. So, when do you think the $USD will take a big hit? My guess is that dollar depreciation will be a slow grind and it will take 10-15 years for copper to be $1 per ounce. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 03/23/2010 : 19:52:31
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| I have no doubt the falling US dollar will get it there eventually. |
Rule six: There is no rule six. |
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tunylune
New Member
USA
20 Posts |
Posted - 03/25/2010 : 02:52:32
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| Right now Chile is expected to raise taxes on mined copper exports. They presently mine 35% of the worlds copper supply. This increase is expected to raise some 5.5 billion in much needed revenue to rebuild infrastructure demolished in the recent earthquake there. Also Our U.S. congress just appropriated several billion dollars to upgrade our power grid here in the U.S. With China's economy booming they will be spending like crazy to expand their antiquated electrical grid system. They are buying great quantities as we speak. Also India is doing the same as china. They are also Revitalizing their phone system grid. With all this happening at once we are still seeing stagnant growth in copper mining percentages. This will create a short term shortage on the market. Copper is due to see a bull run shortly. The reason it is at bargain prices today is the economy's of many countries are still contracting and the worlds big users of copper are Shifting. Hold your copper penny's I see them worth a nickle each before the end of 2012. I also see Nickles being worth a Quarter. I look to see zinc nickles appearing next year. I am buying them now and hoarding them. But if none of this happens I will have still saved money back for a rainy day and will be more self reliant because I am accumulating money. It's a great way to save and if we get lucky maybe be a little better off than if we did nothing. Just my Two Cents. Grandpa always told me that if your careful and watch your penny's your Dollars will come. Mark |
When the People fear the Government there is tyranny. When the Government fears the People there is Freedom. Thomas Jefferson |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/25/2010 : 06:43:08
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| You make some good points Mark. If what you are saying were to come true that means I should step up my penny sorting. Welcome to the forum. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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You Make the Call - Copper $1 an Ounce When?
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