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 Replies: 12 / Views: 1,986 |
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Pillar of the Community
Canada
1700 Posts |
Why? Has the price beamed up in the recent years?
The online private mints have really high copper prices. Any places to buy copper at a price very close to spot?
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Pillar of the Community
United States
3294 Posts |
my guess for copper close to spot would be to ask at a junkyard if they would sell you copper pipe or copper wire. Coin form, especially from private mints will be at a substantial markup.
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Pillar of the Community
Australia
4411 Posts |
Copper wire is very pure and wont have the huge premium bars or coins will (by coins I mean those privately minted).
I would also suggest copper pennies as they wont cost a premium over copper spot.
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Pillar of the Community
 Canada
1700 Posts |
where to get copper wire? Costco?
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Valued Member
Canada
178 Posts |
"Why invest in copper" my answer is don't, there are better places to put your money. If the question was "Why are people paying huge premiums for copper bullion?" then my answer is hype.
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Pillar of the Community
United States
3670 Posts |
Silver was 3 or 4 bucks an oz. roughly 12 years back, an many expect a similar surge in value like silver, even though that may just be a pipe dream. Then again who knows....
You can figure it from 87 angles, but in the end no one knows where the price will be in 10 years. So if you SPECULATE it will do well as that is all any of us do, then pay a high premium on some of those big 10 an 20 pound bars an stick them in the safe an forget about them for 10 or 15 years. An who knows maybe you will be the next dude hauling in a huge load of copper to Rick an the old man to sell at 100 plus grand, lol....
Edited by Silverhawk74
06/14/2012 10:52 pm
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Pillar of the Community
Canada
1700 Posts |
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Pillar of the Community
Australia
4411 Posts |
You will be able to get copper wire from a scrap metal yard.
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Pillar of the Community
United States
3294 Posts |
I can think of one reason why not... At current extraction rates, we have 100 years of copper left with current technology that is economic in the $5/lb or lower price range. Realistically, as technology improves, I would expect copper reserves to also improve giving copper a somewhat limited upside over the next few decades. Now a hedge against inflation, that is possible, but as a stand alone investment... not so great.
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Pillar of the Community
United States
5850 Posts |
Quote:
Silver was 3 or 4 bucks an oz. roughly 12 years back, an many expect a similar surge in value like silver, even though that may just be a pipe dream. Then again who knows.... The problem with that is the folks selling copper bullion "coins" right now have such a steep premium it would be like paying $40 ounce for silver 12 years ago. Even though the price of silver did eventually skyrocket, you still would have lost money. Now, if you could actually buy those copper bullion coins at anything even close to spot, it might just possibly end up being a good investment. Probably not, but at least it would be possible. And spot for copper right now is about $3.40 per pound (which works out to something like $0.21 per ounce if my math is correct). |
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Pillar of the Community
United States
880 Posts |
I highly doubt copper does what silver did. It doesn't show a store of wealth such as gold and silver do. It's also very common compared to silver.
A bond at the current rate is a better place to put your money compared to copper. Just look at storage costs too. If you were to buy $1000 worth of silver that would be a lot of rounds, or pennies or however you wanted to buy it.
Copper is not your next get rich quick item.
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Valued Member
United States
52 Posts |
How would bonds be a better bet? Governments are going broke across the world and are only even still afloat from printing imaginary fiat digital money backed by nothing. Look at the interest payments to the Federal Reserve alone as an example. Silver and copper, whether in coins, pennies, or whatever is real. Even Warren Buffett has made comments on things like cotton and copper.
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Pillar of the Community
Mexico
1304 Posts |
When it comes to the definition of "money" a spool of copper wire comes reel close. (Get it?!? I know, it was a bad joke  ) It stores well, is divisible, hard to counterfeit, recognizable, can be scarce, and if you are an electrician, you know how much the cost of a spool of 12/2 or 12/3 has gone up in the past ten years...plus, compared to shiny round things, it can perform a critical function other than being a medium of exchange. That function may not always be needed, but when it comes time, it'll be a lot easier to use some 12/2 to hook up a washing machine compared to melting down, extruding, then insulating all those darn pennies! (once it is even legal to do so) |
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Replies: 12 / Views: 1,986 |
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Posted 06/14/2012 9:12 pm
