Price of Copper in 1900

[Whitt]

If a ship sank in 1900 with $2000.00 worth of copper (for arguments sake lat's say they are ingots), what would they be worth today?

 

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[Jolly Mon]

According to US Geologic survey statistics, copper averaged $357.00 per ton in 1900. So your ship had roughly 5.6 tons aboard(11,204 lbs.). Todays spot price for copper was $3.73/lb. So, theoretically, your ship has around $42,000 worth of copper aboard.

 

[Whitt]

I found a NY Times article from 1900 and based on that I came up with a rough figure of 37k. I guess it depends on what the going price was on any particular day. Our numbers are pretty close though. Thanks!