| Author |
 Topic  |
|
|
ericsartwork
New Member
USA
20 Posts |
 Posted - 01/31/2009 : 17:30:09
|
Is it wise to buy copper bars from companies like Jetco Minting or Cohen Minting? Their prices are around $20.00 for a 1 lb bar of copper. Given the fact that copper is around 1.43/lb. it seems like the price would have to rise considerably for me to make money. I think a better play would be to buy used copper cheap and store it till the price turns around.
Are there any other alternatives to owning physical copper other than looking for pennies or buying overpriced copper bars?
|
|
|
keys
Penny Collector Member
383 Posts |
Posted - 01/31/2009 : 17:52:45
|
Welcome to the forum ericsartwork.
To buy copper cheap in non-penny or non-nickel form (US nickels are 75% copper by the way) consider buying up brass items at thrift stores, yard sales and church sales. Take along a magnet to make sure that the items for sale really are brass and not brass plated iron. Treat brass the same way you would treat copper price wise, if you can get brass @50¢ a pound you can make your money by selling to the scap dealers for the going rate of yellow brass.
(Recyclers, what is the price of scrap yellow brass now?)
Thrift stores don't know what some of their items are worth so they price them at giveaway prices.
As far as the copper bars are concerned, those are for those who want something different as far as holding physical copper.
Most on this forum are unwilling to buy copper bars for so high a price when they can get scrap brass, scrap copper & copper cents and nickels for far far less. |
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
 |
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/31/2009 : 18:09:23
|
Copper bar such as the one above are wonderful to have as a show piece but are not practical for a metal investment due to the high cost to produce them. Most industrial suppliers aren't willing to sell copper in small enough lots that are practical for most of us.
Other than the current melt ban on pennies, copper penny hoarding has no huge downside. |
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. |
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 01/31/2009 : 18:25:48
|
quote:
Originally posted by keys
Welcome to the forum ericsartwork.
To buy copper cheap in non-penny or non-nickel form (US nickels are 75% copper by the way) consider buying up brass items at thrift stores, yard sales and church sales. Take along a magnet to make sure that the items for sale really are brass and not brass plated iron. Treat brass the same way you would treat copper price wise, if you can get brass @50¢ a pound you can make your money by selling to the scap dealers for the going rate of yellow brass.
(Recyclers, what is the price of scrap yellow brass now?)
Thrift stores don't know what some of their items are worth so they price them at giveaway prices.
As far as the copper bars are concerned, those are for those who want something different as far as holding physical copper.
Most on this forum are unwilling to buy copper bars for so high a price when they can get scrap brass, scrap copper & copper cents and nickels for far far less.
Actually, I think you will see there are several here who have several examples of copper like Ardent Listener posted. I have several. They are bought as show pieces, not investments. I like 'em....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
|
|
|
ericsartwork
New Member
USA
20 Posts |
Posted - 01/31/2009 : 18:28:41
|
| Couldn't I get Canadian copper pennies and melt those? |
|
|
|
fb101
Administrator
USA
2856 Posts |
Posted - 01/31/2009 : 19:14:11
|
The melt ban (I believe) only applies to U.S. pennies, but you'll still have to sort to pull the CA coppers from the steels.
I'm guessing you're looking for an immediate ROI. |
 |
|
|
|
highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/31/2009 : 19:21:28
|
quote:
Originally posted by ericsartwork
Couldn't I get Canadian copper pennies and melt those?
Yes you can melt the Canadain copper pennies.
IF you are looking for something to invest in why not buy a Ryedale and sort out the pennies. Hold them for awhile and than sell them for a huge premium |
Copper Penny Investing
www.portlandmint.com |
|
|
|
natsb88
Administrator
USA
1850 Posts |
Posted - 01/31/2009 : 20:06:12
|
Indeed several of us are interested in copper bars. You might want to check out the link in my signature 
Practical as an investment? Not if your exit strategy is to take them to the scrapper. However, if you plan to resell them once copper prices rise, you would be able to get a lot of the premium back. The recent physical shortage of small silver and fractional gold has proven that even when spot prices go down, premiums hold or increase.
Still, for the bulk of your investment, pennies are the way to go. Canadian pennies are legal to melt in the US if you really want to go that route, but then you have to prove the metal purity somehow since all you have is a blob. In penny form, there is no argument as to content. You can see I sell pennies (both US and Canadian) alongside copper bars on my website, and those are what I recommend for bulk purchases when I get emails asking about the cheapest way to own physical copper. |
Nate
The Copper Cave
|
|
|
|
n/a
deleted
10 Posts |
Posted - 02/01/2009 : 08:03:41
|
highroller you wrote: "Hold them for awhile and than sell them for a huge premium"
Sell them how or to whom?
Thanks, Greg |
The exact opposite of gluttony is not starvation, its simply eating wisely. |
|
|
|
goodcents
Penny Hoarding Member
USA
504 Posts |
Posted - 02/01/2009 : 08:14:06
|
Greg,
When copper goes back up which it will and the copper in a pre 1982 penny is worth 3 cents you will most likely be able to at least double your money all day long selling them at 2 cents.
So that would be 100% profit. Pretty good premium in my book with no risk whatsoever besides your time involved in sorting them with a Ryedale or by hand. If the copper value doesn't go up just cash them in at the bank for what you paid.
There are a lot of people who sell pennies as bullion right now. Very low cost way of owning a large amount of copper. Your pennies will always be worth a penny. Whereas a true bullion bar is only worth what the market says it's worth or what someone is willing to pay.
|
|
|
|
CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/01/2009 : 10:13:53
|
| They are beautiful pieces but not something I would consider investing in when I can get 95% copper cents at face value very easily. I think like someone mentioned the high cost of producing them and the associated premium to purchase these bars. With that said, I wouldnt mind having one or two chunks of copper if the price was right. |
My hobby: collecting real money 1 copper cent or nickel at a time.
|
|
|
| |
Topic |
|
Wise to buy Copper Bars?
Forum Locked
