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 Replies: 40 / Views: 5,866 |
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Valued Member
United States
67 Posts |
oops sorry to disappoint you. Its only copper. But they are really sweet. $140 for each 10 kilo bar from ProvidentMetals website.    The math works out to about $6 a pound which is a bit more than spot price but where else are you going to buy bulk .9999 copper? Some people have resorted to pennies. Even pennies are selling with a premium to face value now. I like these bars. They are slightly larger than brick. I used a george washington for size comparison in the pic. I put the bars in gallon size ziplock bags hoping they wont turn green and fuzzy. They are so heavy that all I need to do is line the bottom of my safe with a few and you would need a fork lift to steal it. I was watching a thing on tv about a guy in las vegas who bought alot of silver back in the 70's when a bar was dirt cheap. Back then silver wasnt considered precious. Now a bar is a small fortune. I was thinking back then silver was so cheap it was used in money as a cheap metal. Very similiar to the way we treat copper today! Actually we copper went up so much that it is almost all but removed from coinage also. Is copper the next silver? Now is the time that you will pass it up and then years from now say "yea I had a chance to get some copper years ago, I saw this coming, but I didnt do anything about it" My time frame is longgggg. I will prob never sell anything until after I die but the plan in my head is 20 years. |
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Pillar of the Community
United States
3184 Posts |
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Rest in Peace
 United States
1380 Posts |
When you sell it after you die, what are you going to do with the money?
(Couldn't resist)
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Valued Member
 United States
67 Posts |
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Pillar of the Community
United States
1454 Posts |
Quote:
When you sell it after you die, You must be Buddhist, I'm guessing?  |
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Pillar of the Community
United States
2589 Posts |
Thats a decent price for bar form. The cheapest way of purchasing copper in bulk is to buy it from a scrap dealer, you can buy for spot or even less depending on the fineness your buying.
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Valued Member
United States
67 Posts |
i wanted bullion form pure refined .999 copper that I could stack in a safe.
The nice part is its so heavy it would be hard to steal. And after I get a few more they will be like playing with a really sweet set of building blocks! I only have 3 but they are so much fun to stack!
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Pillar of the Community
United States
4132 Posts |
Is it really .9999? Commercially "pure" copper usually isn't better than .997 because of dissolved oxygen. Removing the oxygen is expensive and generally pointless except for a few specific applications.
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Valued Member
United States
67 Posts |
they are two different brands.
2 are provident metals stamp and the other has an eagle but they both say .999 fine copper.
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Pillar of the Community
United States
4008 Posts |
The bar says that it is 0.999. If it is not, then they could be in trouble for mislabeling / false advertising. Shrug.
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Valued Member
United States
67 Posts |
http://www.providentmetals.com/10-k...ion-bar.htmlthe ad states: "These ENORMOUS 10 Kilo (22.04 lb) Bars are composed of .999 Fine Copper and bear a weight and purity hallmark with beautiful burnished finish. Each bar measures approximately 8.5" x 4" x 2". Bars will arrive in a protective plastic sleeve." I have to admit the ad is decieving though. Burnished finished? By burnished they must mean heavily bag marked. Not that you would have these in a bag but the same type of damage. Protective plastic sleeve? a lol a plastic bag slipped over the end. I threw the bags out and used airtight ziplock gallon bags. The bar in the ad looks much more mint condition than what I actually received. The ends look like the bar is cut to length with a chainsaw lol. But all in all I recommend it and think they are totally sweet. This is great diversification of the portfolio.
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Valued Member
United States
154 Posts |
You're probably right about copper becoming more valuable. China is buying it all up and it's such an important metal for so many different applications, it's hard to see it becoming obsolete. I'll probably be one of those "Yeah, I knew, but I sat on my hands" people. :P
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Bedrock of the Community
Australia
21788 Posts |
How do you stop them from developing a patina / tarnishing?
Acryllic laquer spray OK?
How to store?
Put them in polyethylene bags OK?
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Valued Member
United States
67 Posts |
i havent figured that out yet but for now they are in ziplock bags.
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Pillar of the Community
Canada
1723 Posts |
I think they look cool....but don't you think they are a bit large and heavy to stack long term? I mean..its gonna be a very very long time before copper is valued enough to sell for a good profit. Especially when you've already paid 75% over spot. When you go to sell, the price is going to have to be double at least to even see any profit. At least you don't have to ship it to a buyer I guess. You can bring it to the scrap yard....but even then, they wont pay you top dollar for it. Chances are, I would guess, is that prices may have to be 3 times what they are now for you to make money. I dunno, the size and weight just don't seem feasible to me. But like I said....they still are kind of cool. Cheers to your new venture!
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Pillar of the Community
United States
1454 Posts |
Misread your post. Sorry.
Edited by traevin
06/03/2012 7:50 pm
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Replies: 40 / Views: 5,866 |
Posted 06/03/2012 5:29 pm
