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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 05/09/2006 : 15:35:09
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When we are looking at the price of copper, zinc, and nickel maybe we need to remember that if and when we decide to sell, it is most likely that we will be talking about scrap price as an offer. I just called (5/9/06) a scrap yard and they offered me $2.40 per pound for #1 copper and $2.10 per pound for #2 copper. Of course that is a lot lower than the current Kitco-base metal price.
Unless pennies/nickels start to have a market all their own, there still may be some time until we see 2 for 1 profits from them.
Bad money drives out good money.
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Edited by - Ardent Listener on 05/09/2006 21:25:26 |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/09/2006 : 17:23:55
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Thanks for the info, Ardent. I am also saving copper pennies as a long term thing.
I believe there will be a time when copper pennies are bought and sold in the same manner as 90% silver.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/09/2006 : 21:24:17
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I found out that copper pennies are #2 copper. Still there is a good profit in them even at today's prices.
I too expect that they (and nickels) will soon trade higher than either their face or metal value alone.
Bad money drives out good money. |
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 05/11/2006 : 18:52:19
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Or we could sell them to IM_OK to turn into Cu ingots & bars  |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/12/2006 : 14:03:45
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I would like to have at least one of his bars. I liked copper before copper was "cool".
Bad money drives out good money. |
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n/a
deleted
44 Posts |
Posted - 07/29/2006 : 22:30:29
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Since I do some dumpster diving what are some things to keep an eye out for?
What household items or bussiness items are good to grab and sell for scrap?
Also what is considered copper #1 and copper #2? (sorry being lazy) |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 07/29/2006 : 23:22:01
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| pretty much anything heavy and made of metal. |
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NiBullionCu
Penny Pincher Member
USA
168 Posts |
Posted - 07/12/2007 : 14:06:50
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Here are some scrap definitions from ISRI
(Institute of Scrap Recycling Industries)
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You must be logged in to see this link.
(the link is a PDF file)
No. 1 HEAVY COPPER: (Candy)
Shall consist of clean, unalloyed, uncoated copper clippings,
punchings, bus bars, commutator segments, and
wire not less than 1/16 of an inch thick, free of burnt wire
which is brittle; but may include clean copper tubing.
No. 1 COPPER WIRE: (Barley)
Shall consist of clean, untinned, uncoated, unalloyed
copper wire and cable, not smaller than No. 16 B & S
wire gauge, free of burnt wire which is brittle.
No. 2 COPPER: (Cliff)
Shall consist of miscellaneous, unalloyed copper scrap
having a nominal 96%copper content (minimum 94%)
as determined by electrolytic assay. Should be free of
the following: Excessively leaded, tinned, soldered copper
scrap; brasses and bronzes; excessive oil content,
iron and non-metallics; copper tubing with other than
copper connections or with sediment; copper wire from
burning, containing insulation; hair wire; burnt wire
which is brittle; and should be reasonably free of ash.
No. 2 COPPER WIRE: (Birch)
Shall consist of miscellaneous, unalloyed copper wire
having a nominal 96%copper content (minimum
94%) as determined by electrolytic assay. Should be
free of the following: Excessively leaded, tinned, soldered
copper wire; brass and bronze wire; excessive oil
content, iron, and non-metallics; copper wire from
burning, containing insulation; hair wire; burnt wire
which is brittle; and should be reasonably free of ash.
I like the cute code names, like CANDY for #1 heavy copper...Mmmmm tasty! |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 07/12/2007 : 21:03:13
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So Canadian copper pennies are Candy?
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 07/13/2007 : 17:41:41
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Ardent is correct; it is easy to be seduced by the values shown on coinflation. There will almost always be at least one middleman (broker), perhaps more, in the chain before metal ends up at the refiner. Each of them will take their slice of the pie.
Just for the record, here are the thicknesses of a few coins of interest:
US $0.01 = .059"
US $0.05 = .070"
CAN $0.01 = .054"
CAN $0.05 = .070"
Because 1/16" = .0625", I guess this means that even the Canadian one cent piece is considered #2 Cu, because it fails the thickness test for #1 Cu, despite its 99% Cu content. I have never verified this assessment with anyone, so I could easily be incorrect.
Note that I measured these in a hurry using a digital caliper. Because I used a caliper, it means that I measured the thickest part of each coin, which is the rim. The vast majority of each coin is slightly thinner because of the ridge around the rim. I did not have a micrometer handy, so I could not measure at the center of the coin.
I'm curious as to the spread that people are seeing between the spot price and what they are actually getting for large quantities of copper and/or nickel. 70-75% seems to be the going rate around here.
Happy sorting,
MaDeuce |
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Scrap Prices
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