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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 03/16/2008 : 17:17:20
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I was looking copper bullion bars on ebay, and I'm a little dumbfounded at the prices they're drawing. 3kg currently at $7.27/lb, 5kg pulling over $18/lb.....
Am I missing something here? Is the high price due to the purity, or is it a premium for the novelty of it?
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/16/2008 : 17:21:59
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That does seem a bit steep considering the price of copper is still under $4.00 per pound.
I'm guessing that copper bullion made into exact weights isn't all that common, and that the premium reflects the scarcity of the bullion form more than the price of copper.
Gold and Silver bullion are far more prevalent, so the premium for the bullion form may be much less.
I would also guess the start up cost for being able to mint your own copper bullion would be quite high. It's one thing to melt copper and pour it into a mold, but to get bars or coins that are weight accurate to within tenths or hundredths of a gram would be difficult I'm sure. |
Sorting In Northwest Mississippi |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/16/2008 : 17:22:53
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It is the latter, the premium is what pushes up the price.
It is the same reason that a piece of sterling silver jewelry sells for more than the melt value, the craftsmanship and the cost of delivery effect the price.
Casting and stamping medallions or ingots is expensive unless it is done on a very large scale. |
Edited by - pencilvanian on 03/16/2008 17:26:51 |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 03/16/2008 : 17:46:46
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Thanks guys, I was beginning to wonder if I should be keeping my cents in a safe rather than coffee cans
WC, these are coming from a large copper producer in Utah. Still, seems awfully high for something with all the visual interest of a brick. |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/17/2008 : 09:44:43
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| A fool and his money are soon parted. eBay is full of fools with too much money and way too much time. |
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Why so much for copper bullion
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