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 Replies: 31 / Views: 10,680 |
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Rest in Peace
United States
9104 Posts |
Why do you insist on finding a less ridiculously overpriced gimmicks, instead of buying coins (after all, this is a coin forum)? Repeat what I said about 7.5# instead of 34-100#, only change the 7.5 to 10. Investment-wise, you're dead in the water if you pay $10 for a $4.15 pound of copper, the same as if you were to pay $100 an ounce for silver or $3500 an ounce for gold. Would it be possible to make a profit? Sure, but why put yourself at a disadvantage by paying 2.5 times market when you invest? Especially when you can buy coins at a discount from their copper content? Remember your exit strategy, too. Even small towns have a couple silver or gold buyers. You might only get 80% of melt, but even if you got full melt on these coppers today, you'd be getting 40%. Call your local scrapyard, and ask them how much they pay for pound copper bars. My guess is $2 a pound if you're REAL lucky. Maybe ebay will still be in business when copper goes high enough for you to break even, and they're gonna get 15% off the top. And copper smelters wants tons, not pounds. Edited by biggfredd
03/15/2011 10:10 am
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Valued Member
Canada
442 Posts |
+1 on biggfredd.
The prems are just too crazy.
Do I still want 1 or 2? yes.
Will I get them? Most likely.
Do I see them as an investment? Hardly. At most they are novelty item, and something to pass on down. Maybe, 2, 5, 10, 20, 50 years from now they could be worth alot and would be considered an excellent investment. But in the same time frame, we might be under the rule of Aliens as well.
either way if you really want em and have the means to, buy a few kilos and stick em in your safe. If copper for whatever reason jumps to $1000/lb, then you'll have no regrets. If it doesn't, You just end up over paying for something you like looking at and you lose a little bit of your ~$100 investment which in the long run is small potatoes.
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Pillar of the Community
 United States
3670 Posts |
No excellent points Biggfredd you crack me up, dead on as always. You are obviously about 1000 times smarter than I will ever be on any of this coins/bullion etc., on any of this so that is why I asked you, lol.... I should be a better math man than that, I always stunk in anything beyond simple math via Calculus etc., but always thought I was pretty decent in simple math, guess not lol. 2.5 pounds, lol.... Well back to the drawing board, rof  ! Vinny I am with you, I want a couple just becaues the minting looks nice, lol.... I am just gonna stick with silver an gold, and if it keeps dippin, me will keep a buyin.... Edited by Silverhawk74
03/15/2011 2:40 pm
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Pillar of the Community
United States
757 Posts |
well i'll quibble with you a bit, bigfred. I agree that the copper pennies are the best way to invest in it, but the premium on the bars won't go away once you buy them. they have the premium because they've already been refined, etc. if copper goes up, the premium will still get tacked on to the bar, just like it does with SAEs--that is, if silver spot falls to 17.00 your still going to pay 2-5 dollars over spot for your eagles.
obviously, the example you give of paying 10 for a 4.15 bar wouldn't be a great investment, but I also see a lot of bars going for 6-8, so the premium isn't always entirely prohibitive.
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Rest in Peace
United States
9104 Posts |
Morgan dollars used to have a premium, and it has disappeared on common and slightly scarcer issues.
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Pillar of the Community
United States
757 Posts |
yeah that's a good point, but the question i'd ask now is whether the morgan market is quite like the copper market. my guess is no, but I confess I don't have a good answer. maybe you do. oh yeah, and fredd...that's my avatar you've got there. fix it or I'm gettin a lawyer!  |
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Rest in Peace
United States
9104 Posts |
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Valued Member
Canada
442 Posts |
Silverhawk, if you're in the states, you might try provident metals. Very reliable company and I think the prices are just a tad cheaper than ebay. Even at 2x over spot, alot of them are already sold out! Shipping unfortunately is just not very cost effective for me, although its understandable since I want 5 or 6 kilos. Biggfreed I thought you were having a conversation with yourself! |
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Moderator
 United States
16679 Posts |
I will unload copper but would never buy it.
swcoin.ecrater.com
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Pillar of the Community
United States
3670 Posts |
Thanks Vinnycoin, I have used them a couple times already, very competitive prices, brand new nice sealed product.... If I was going to nick pick them, perhaps a bit high on shipping, as a 1 20 coin is like 4.95 and a 1/10 is 8.95. Come on is it me, or are they making a few bucks in every shipping transaction, can't blame them I guess. Perhaps I am being just to frugal perhaps, so I overlook it, as you can't always put a price on a trusted consistant quality product, and fast shipping, which does cost money.... Gold 1/4s are of good variety there, esp at around 380 or so, where on ebay guys want 415 and up seems like.... Edited by Silverhawk74
03/22/2011 12:28 am
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Valued Member
United States
287 Posts |
+1 to biggfredd
Bullion is almost always about paying the least $$ for the most metal.... some premium can be ok, but it is in the 0% to 10% range usually....not 100%+ range!
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Valued Member
Canada
442 Posts |
yea, shipping anything from US to CAN for me is a killer. at least $30+. Thats why I try to do bulk orders.
4.95 for a 1/20 coin does seem a bit much, although I'm guessing that includes insurance, tracking, and signage upon receiving. Bulk orders are the way to go!
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Rest in Peace
United States
9104 Posts |
Quote:
but the premium on the bars won't go away once you buy them Is it a premium on the product, which is scalable, or a service charge for tiny transactions, which isn't? If it's a premium on the product, for example $4 over spot, and you've accumulated a ton, when you sell, you should get most of that back, especially if you sell all at once. If something is scalable, it's as easy to sell a million of it as it is one, perhaps better. If it's a service charge, when you go to sell your ton of copper, you might be offered half of spot. Can you get back the $4 premium? Sure, if you want to spend the time selling a few pounds at a time on ebay. Realistically, you're not getting the premium back, you're being paid for your time. Not-scalable means the only way to make money on quantity is to do a lot more work. To sell 50 times as much, you need to put in 50 times the effort. What you need to doRather than buy from the guys on ebay, you need to find where they're getting it, buy huge quantities and turn them on ebay. |
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Valued Member
United States
362 Posts |
If copper ever goes up that high everything is goin to get real expensive...house all the way to Ethernet cables. The premiums are because they are a novelty item. If copper really started becoming a PM, other companies would probably make coins/bard closer to spot, which means the premiums that you paid are going to become worthless... Just my opinion. Hell it would prob be cheaper to buy something like, http://cgi.ebay.com/10-pounds-lbs-B...em3f0a96d12cAnd Make it into bars Edited by ICanSeeYou7687
06/05/2011 08:29 am
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Pillar of the Community
United States
2168 Posts |
I don't know what will happen but an easy way (and most inexpensive) is to just keep pre 1982 pennies and nickels. They only cost the face amount and the actual 'metal' in them is worth more than the face. A win win. If things go bad and our dollar goes under, the 'value' of the copper pennies and nickels will surely go up and end up kind of like pre 1965 dimes, quarters and halves. While maybe not quite the same premimums as the silver coins but who knows. Recently theives have been posing as 'workers' near Washington DC and actually stealing copper wire for its mineral content! I recall a few years ago aluminimum siding being stolen and sold for scrap!
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Posted 03/15/2011 11:33 am
