Invest in copper??

[fixxxer9]

I have been saving all my pre 1982 cents with the hopes that some day they will be sold and bought at coin shops like silver coins are now. I am thinking that if it does happen it may not be for the next 30 years or so so I am ok with holding on to them for a long time with no increase in return. But what I am wondering is if anyone here thinks that it would be worth buying copper bullion. I see the copper bullion bars going for around $8 a pound and am wondering if I bought them it would be worth it some day. I just look at the charts that show silver worth $4 an ounce back in 2002 and I am wondering if I am going to look back at 2013 in 2033 and kick myself for not buying it when it was going for $8 a pound. Any thoughts or comments? And on a side note does anyone know why bullion goes for $8 a pound when the spot price is around $3.70?

 

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[maverick]

I would just keep saving the pennies( cents), Everyone collects for different reasons, me personally, I collect just to stack, I am not concerned as much with key dates or numismatics, I don't really search cents anymore but do keep all my coppers out if my daily change and do a box every now and then and have 2 full boxes of coppers put away already + wheats, I do have and appreciate some rare coins in nice condition, but have found those CRHing, I would never pay a premium ( several dollars over melt) for any coin, but again, I collect for different reasons, if I need food for my family and the SHTF scenario has come into play, no one is going to care if your coin or pm is in pristine condition or a low mintage, it will only be worth it's pm content. Us coins will be recognized by everyone in this scenario, bullion and bars that can be faked will be harder to use or sell I would think, thus is just me and my opinion and the way I collect though. HH, Maverick.

 

[fixxxer9]

That makes sense. Thanks for the input. I appreciate it.

 

[maverick]

That makes sense. Thanks for the input. I appreciate it.

No problem, there are many other members on here that are waayy more knowledgeable than me, and I'm sure they will chime in, but this is how I think and collect. I'm a pretty down to earth basic guy looking out for my family's best interest in the future. HH, Maverick.

 

[fixxxer9]

That's why I like what you said. I'm looking into this to pass something on to my kids. I had a SHTF last year and had to sell about 13 ounces of my silver just to keep food on the table. But its all good and I'm back up to 12 ounces now. Working on my copper and nickel hoard too.

 

[GTzer]

They stopped making copper cents because it cost more than 1 cent to make them. They have proposed taking zinc cents out of circulation -now- because they cost more than 1 cent to produce. It only makes "sense" that the metal value will continue to rise above face value. Copper cents are a good way to collect copper bullion. I don't think copper will do the silver rise and falls because most of the copper used is reclaimable. A lot of silver is not. A good portion is used in solutions that are lost and are not able to be reclaimed-at least at these prices.
I think that there is too much of a premium on copper bullion pieces to make it viable to collect them (for bullion sake) If you like the art or desire them for personal reasons-do it.
Other than that-consider collecting #1 scrap if you want more. You can't go wrong saving coppers cents for a penny a piece.

 

[Digesting a common clad]

Lol....

 

[arnofarrell]

I scrap metal as well as collect coins. I save all of my copper cents. I also have 3 or 4 5 gallon buckets full of copper piping and stripped wires. Honestly 8 dollars an ouce is crazy. At the scrap yard they pay 3.50 a pound. If you are really want to save copper stay with pennies and maybe some copper pipes or wires that you can find. You could always melt down your own copper from wires and pipes to make your own bullion. I have thought of doing that so I could sell it on ebay and make a hell of alot more profit then I would make from the scrap yard. Just my opinion.

 

[enamel7]

I save all the copper Canadians I find and will be selling them at the scrapyard soon. I have broken them down by composition, figuring out the number of coins needed of each to make a pound. Subtracting the dollar amount from the offer price gives me my profit margin. They have already told me they will buy them.
HH
enamel7

 

[ArkieBassMan]

Its likely that it is wise to hoard copper cents. They can be sold for a profit now. If you can accumulate enough of them, they can turn a tidy little profit.

The reason that .999 copper bullion sells with outrageous premiums attached, is that apparently there are people out there willing to pay it. I have seen 1 oz. "copper eagles" sell for $4-$5 each. You can buy all the .950 copper bullion you want off ebay (or maybe even this forum) for 60%-65% of melt. I can't see any reason why it would ever be a good idea to pay a premium over spot for copper when copper cents can be bought way under spot.

 

[MIhunter]

I have been saving all my pre 1982 cents with the hopes that some day they will be sold and bought at coin shops like silver coins are now. I am thinking that if it does happen it may not be for the next 30 years or so so I am ok with holding on to them for a long time with no increase in return. But what I am wondering is if anyone here thinks that it would be worth buying copper bullion. I see the copper bullion bars going for around $8 a pound and am wondering if I bought them it would be worth it some day. I just look at the charts that show silver worth $4 an ounce back in 2002 and I am wondering if I am going to look back at 2013 in 2033 and kick myself for not buying it when it was going for $8 a pound. Any thoughts or comments? And on a side note does anyone know why bullion goes for $8 a pound when the spot price is around $3.70?

There are plenty of foolish people buying copper well above spot for no good reason.
Investing in copper like any other commodity requires an understanding of market forces that effect supply and demand.
But for starters it always makes sense to buy at the lowest price. Copper bullion bars and rounds on ebay are very overpriced.
Stick with copper cents or go to a plumbing supply store, stay away from ebay!!

 

[fistfulladirt]

I don't bother. There's way too much scrap copper out there for free, I collect hundreds of pounds of it every year in the form of gutters, pipe, coil windings, metal detecting digs, all with permission of course.

 

[maverick]

Lol....

Really? Thanks for contributing to his thread. Maverick.