acute collector said:
What are you doing with the Copper Cents... We can't sell them ... or is the Ban revoked? Hording isn't an option when the Stock Market is going to go Bananas...
There is not a ban on selling copper pennies. Only on melting them. I see them on ebay all the time. And last week the average $50 bag of copper on eay was selling for about $70. PLus the buyer pays the shipping. So not too bad if you want a flip. 40% can be had in a week! If only I had enough copper to buy and sell onlgoing. Instead - I'm hoarding it for now.
When the economy comes back I think copper will go much higher than last time. WIthin a year I expect to sell for over $150 per bag. And a year ago it was not hard to sell at $130 per $50 bag. So I don't need to sell now at $70 and I hope to sell at $150 in a year. But if not, I can sell at $70 then, and still be happy with it. :-)
As for the stock market ... do I expect the market to double in a year? No way. Not going to happen ... IMHO. So I think hoarding copper and getting more than a double within a year is a better deal than the market, if one had to choose. unfortunatley, I can't get enough copper to have to choose anyway. But I like pennies better than the market for the next 12 months as an overall expected return, not ilncluding the labor to get the copper hoarded. And safer too, as I can lose ZERO with my copper pennies. You can't say that for the market. But personally I don't see the market about to "go bananas". The real estate market? that I see doing better than the stock market, and with "dividends" (Known as rent) of about 15% cash on cash while holding the houses, it makes more sense to me to buy houses right now in this low priced frezzy than buy sotcks in this low priced market. Unless I could get one paying 15% in dividends. (I do covered calls too, and that can stil get you 15% in cash flow while waiting for a stock to go up. I own some stocks too. Just not as much as real estate. And it isn't stopping me from hoarding copper either)
