Copper Prices

SFBayArea · Aug 17, 2010

Just curious, at what price does everyone think copper needs to be in order for buyers to be interested in copper pennies? It was at $3.34/lb last time I checked.

Diggin-N-Dumps · Aug 17, 2010

I steadily watch prices of copper and have been hoarding my own for sometime. usally i notice people i deal with in my area get jumpy around 3.80-4.00..Thou i sold alot of my stock...i have a feeling it will do waht silver did one day..i have no problems holding copper for 15-20 years. in hopes it might be around 10 dollars then :laughing9:

Maybe just Wishful thinking. I kick myself for getting rid of all my silver to pay off my student loans...Silver prices were about 8 dollars then...

fistfulladirt · Aug 17, 2010

Too bulky unless you have the space, IMO. Wonder if all the copper is going to China? They will probably outpace the US in consumption, if not already.

fenderbender88 · Aug 17, 2010

So I guess a good question is... Is it worth it to save the pre-80s pennies to sell them later?

Generic_Lad · Aug 17, 2010

Depends, at the very least they will be worth 1 cent, either by fiat or copper content, but myself I've just been saving and keeping copper cents and nickles out of my coin jar to save for my children/grandchildren, the way I figure it, inflation/rarity will eventually make them about as valuable as silver (proportionally) and you can find them in circulation. I figure worst case scenario, I run out of room and dump them for face or sell them for melt, and I really don't want to have my children/grandchildren wondering why I didn't pluck the nickles/copper pennies out of circulation much like most of us CRH'ers wondered why our parents/grandparents didn't when silver started being phased out.

SFBayArea · Aug 18, 2010

I don't have much in copper perhaps $150 worth.. I wrap them back up into their original paper rolls and put them back in the box they came in. They make great bricks or if you have enough of them, you can build a wall to stop bullets depending on where you live

I would like to get rid of them though and was wondering at what point do people start really wanting them. I missed out on the last surge when people were buying them.

maine_Jim · Aug 18, 2010

I started out with copper a couple years ago and accumulated quite a few bank bags. Was a lot of fun but I recently had to move and that was the end of the copper. Takes up a lot of room. I just dumped it into a free counter. There will be some nice solid copper boxes coming out of that dump. Maybe I'll be kicking myself in a decade or so - :tongue3:

Maine_Jim

AGCoinHunter · Aug 18, 2010

maine_Jim said:
I started out with copper a couple years ago and accumulated quite a few bank bags. Was a lot of fun but I recently had to move and that was the end of the copper. Takes up a lot of room. I just dumped it into a free counter. There will be some nice solid copper boxes coming out of that dump. Maybe I'll be kicking myself in a decade or so -

Maine_Jim

There are many people over on Realcent that would pay anywhere from 1.3 - 1.5 cents per face. Should have sold them over there.

CHAINCHOMP · Aug 18, 2010

i usually try to keep a few bricks around, but i usually end up spending it! :laughing9:

maine_Jim · Aug 18, 2010

I know I could have moved it at realcent but didn't have the time. It was uncounted and I didn't have a reliable scale. I certainly didn't want to short someone there on a sale and no time to roll out the 5000 rolls of cents. Figured I'd make more on my time with a drive around the area scrounging the banks for silver. :tongue3:

Can't remember if I did but I'm down to one small load of copper. We sold our property that had an old barn and this was where I was storing the copper so it had to go. I wasn't going to pay to store it off-site and just didn't have a secure space. That is the problem with physical PM's. Even the 40% can start to add up if you store it in safety deposit boxes...gold is the way to go!

Maine_Jim

AGCoinHunter · Aug 19, 2010

maine_Jim said:
I know I could have moved it at realcent but didn't have the time. It was uncounted and I didn't have a reliable scale. I certainly didn't want to short someone there on a sale and no time to roll out the 5000 rolls of cents. Figured I'd make more on my time with a drive around the area scrounging the banks for silver. Can't remember if I did but I'm down to one small load of copper. We sold our property that had an old barn and this was where I was storing the copper so it had to go. I wasn't going to pay to store it off-site and just didn't have a secure space. That is the problem with physical PM's. Even the 40% can start to add up if you store it in safety deposit boxes...gold is the way to go!

Maine_Jim

Yea, I agree. If your short on space gold is nice. But what happens when you get too much gold?

I am going to start turning over some of my 40% for .999 AG and gold. They just take up too much room.

Really there are some great guys over on RC. I would even trust some of them to send the lot to them, let them weigh it and figure out what they owe you and send you the check.

conpewter · Aug 19, 2010

maine_Jim said:
I know I could have moved it at realcent but didn't have the time. It was uncounted and I didn't have a reliable scale. I certainly didn't want to short someone there on a sale and no time to roll out the 5000 rolls of cents. Figured I'd make more on my time with a drive around the area scrounging the banks for silver. Can't remember if I did but I'm down to one small load of copper. We sold our property that had an old barn and this was where I was storing the copper so it had to go. I wasn't going to pay to store it off-site and just didn't have a secure space. That is the problem with physical PM's. Even the 40% can start to add up if you store it in safety deposit boxes...gold is the way to go!

Maine_Jim

If you had some property still you could bury it in sealed PVC pipes (larger diameter would be better). Just have to remember where it is

... I've not done this but is a possibility