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 Replies: 15 / Views: 2,667 |
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Pillar of the Community
United States
3670 Posts |
Found it interesting that Prov claims they have had OVERWHELMING DEMAND for them to sell copper bars.... So, here is a link to 10 pound copper bars, that Provident claims is priced real fair just over spot, and I of course will let you guys make that call.... I am clueless on the current copper price. Fifty pounds would not cost much, say about 325 bucks or so.... http://www.providentmetals.com/10-p...ion-bar.htmlIs copper ever gonna make the strides silver has made and maintained, only time will tell.... But if it does, I may be kicking myself for not adding some of these guys. Sure seems to stack faster an neater then hoarding penny's, but again I am as green can be on the copper angle..... |
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Valued Member
United States
302 Posts |
Copper can be invested in. And it is fairly easy to resell, but usually at a large discount. The biggest problems are storage and security.
Security can be addressed to a large degree by buying copper sows. No one is strong enough to easily move them.
Another downside of security is that in times of national emergency, the government has historically confiscated copper.
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Pillar of the Community
 United States
3670 Posts |
Well as far as storage goes, those 10 pound bars are roughly 8 x 4 x 1, so in theory you could stack 100 pounds in a relatively small space.... I usually just hide my silver stash under a pile of my girlfriends clothes on top of a dresser, and no doubt Mmerlinn I could cram a couple hundred pounds or two under that clutter, rof  .... Edited by Silverhawk74
01/09/2012 01:57 am
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Pillar of the Community
United States
667 Posts |
What you should remember about Provident is that they are geared to the survival crowd. They also sell long term storage food.
A better buy for copper really is junk such as wiring and plumbing fixtures. Every time you toss out those old appliances strip out the copper. If your community has a junk day then there is an opportunity to get pounds of it from the stuff people set out on the road to be picked up.
I recycle a lot of copper and buying it at a premium - any premium is not a good idea.
Security - don't let people know you have it.
In any event there just are far better ways to build up your copper stock for far less money and most of it you can get for free if you want to build a cooper hoard.
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Pillar of the Community
Canada
834 Posts |
Mkfarm brought up a great point,
Copper is out there and free you just have to do a bit of work, Even copper penny collecting seems better than these bars, at least you will never lose your initial investment. I am in a trade where I come across a few thousand dollars of scrap copper a year. Not only that but also do CFC recovery every Sunday for the three local landfills, which not only pay me very well for one day of work, but also pull around another 1000 pounds of scrap copper out of appliances I recover gas from every year. I call that one a double bonus lol.
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Valued Member
United States
122 Posts |
I used to keep my silver stash at my girlfriend's house, but my wife got wind of it and she confiscated it. Shucks.
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Valued Member
United States
272 Posts |
Quote:
I used to keep my silver stash at my girlfriend's house, but my wife got wind of it and she confiscated it. Shucks.  |
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Valued Member
United States
302 Posts |
Quote:
I used to keep my silver stash at my girlfriend's house, but my wife got wind of it and she confiscated it. Shucks. Good job. Nice that you are providing for your wife's future. |
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Rest in Peace
United States
9104 Posts |
You're lucky Mrs. Bobbitt only confiscated your stash.
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Valued Member
United States
89 Posts |
I used to get copper it just got to take up to much space and was a pain to move around
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Valued Member
United States
239 Posts |
I used to scrap copper (because of my job) and TBH, it is not worth it.
Right now, according to the london metal exchange, copper is @ $3.40 /lb. Now, if you were to collect scrap instead of copper bars, you would only be getting paid for #2 copper (used dirty stuff) which is BUYING for about $2.40 /lb. Insulated copper wire is $1.65 /lb. THE BEST scrap you can get right now would be copper wire that is stripped clean. That will sell as bare bright #1 copper for $2.95 /lb.
Plumbing fixtures (i.e. a kitchen faucet) isn't copper, it is brass.
My point being that, you wont make much money at all INVESTING in scrap. Now, if you go around getting scrap for free, then it is worth it. I take all my scrap down once I have a nice load (usually $5 - $700 worth) and then I buy silver with the money =)
So now, lets do some math here. As of today, copper is selling for $3.40 /lb. Now simple math tells us that $3.40 /lb x 10lbs = $34.00. So you would be paying a $27.49 premium for something worth $34. Not to mention the shipping costs.
Now, according to provident they will actually buy back the 10lb bar for $40.50. That is a $21 difference right off the bat. It would take a lot of time to make ANY kind of money on that investment because I honestly do not see copper rising in price dramatically.
As for the plumbing industry, copper is becoming extinct. Now a days, we run what is called "pex" pipe which is plastic tubing that can be ran just like wire. The fittings are all brass & plastic now too. I would say its fairly safe to say that plumbing is a BIG part of the copper industry as of right now. Once the supply goes down (which it will for the plumbers) the price will follow. Just my opinion though.
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Pillar of the Community
United States
3670 Posts |
Those are some really convincing numbers Jenger, and that new pipe tech info is most key. It all makes much sense, and you know that game from the inside, so I for one buy that theory....
I wasn't planning on buying any, but I will not for sure now. It would just be a cash distraction from my main goal anyhow of adding more silver.....
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Rest in Peace
United States
9104 Posts |
Quote:
As for the plumbing industry, copper is becoming extinct. Now a days, we run what is called "pex" pipe which is plastic tubing that can be ran just like wire. The fittings are all brass & plastic now too. Sounds good, until the oil price goes up! |
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Pillar of the Community
United States
4008 Posts |
The only copper I collect is copper-jacketed lead.  |
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Valued Member
United States
421 Posts |
Yes I did some math and agree those bars aren't worth that much. There are a lot of auctions on e-bay now selling copper rounds with all kinds of designs stamped into them.
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Valued Member
United States
493 Posts |
Don't buy copper bars, or rounds, don't waste money on that! A 10lb. bar would be = to 10 * 146 = 1,460 copper cents. Sure, not pure copper, but 14.60 in copper cents is about the same thing, so just 1 box ($25), of pure copper cents is almost equal to about two of those 10 lb. bars.
Also, as someone said, copper is free, and easy to find.
As far as junking and scrapping, you've got to like doing it, but the easiest scrap for your money is if you see a catalytic convertor, not muffler!, alongside the road, stop and pick it up.
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Replies: 15 / Views: 2,667 |
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Posted 01/09/2012 01:56 am
