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 Replies: 56 / Views: 7,968 |
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New Member
United States
28 Posts |
Do you consider Copper Bullion a Precious Metal? Such as the 1 oz, 5 oz and even the 1/2 lb and 1 lb Rounds and Bars. I had asked a similar question on another forum, so just thought I'd ask it here. I've read where it may go up in price and its been labeled "the poor mans gold."  |
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Bedrock of the Community
13014 Posts |
Technically I guess so, but in terms of practically no I dont. I dont know many people that own lease free warehouses to store enough to really profit off the few dollars here and there the price moves.
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Pillar of the Community
Canada
532 Posts |
I almost bought a coin from the mint but just couldn't justify the cost for copper.
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Pillar of the Community
Canada
2805 Posts |
The poor man's gold is silver... the poor man's silver could be a variety of different underappreciated metals (tin... indium... gallium...) but copper isn't one of them. Copper bullion is sold to people who like the designs and people who are gullible: you have to buy by the ton to make any kind of profit on it. I'd get a nice little collection of obscure metals so that if any one of them takes off you can make some money (besides, element collection is a fast-growing hobby).
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Pillar of the Community
Canada
3692 Posts |
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New Member
 United States
28 Posts |
nalaberong, it seems that there are many different "bullions" available today, especially on ebay. It looks like certain people are collecting tin, coppper, nickle and even steel that are made into bars and rounds. I'm not sure I get it but thats why I asked the question here, the people on this forum seem to be ahead of the curve on trends and whats going on. |
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Pillar of the Community
United States
1200 Posts |
Copper melt price was around $3.34 per (avdp) pound today. Rounding silver spot off to an even $20/troy oz for the sake of example, silver would be around
$197.50 per avdp pound. Long story short... copper was approximately 1.7% as valuable as silver today. Even if I've botched my numbers up, it's still right
around 2% of the value of silver.
Whether or not copper is a "precious metal" is something that's been argued here many times. It's definitely more precious than lead or iron, but ~2% as valuable
as silver isn't seen by many as a truly "precious" metal. Some people actually stack it, but the space and weight involved are more than I think makes any sense.
Edit: I'd have to agree that silver is the "poor man's gold."
Edited by Fat Freddy
01/21/2014 7:59 pm
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Pillar of the Community
United States
3079 Posts |
They are being sold as collectors pieces for the designs etc as said they also are being humped as a means of trade/barter for preppers. They are sold at gun shows as been said here now and before. Stock pile some thing useful in the way of copper, tubing, fittings, or spooled new wire. Besides scrap is going for around $3.25 or so per pound! By them only if you enjoy them.    |
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Pillar of the Community
Canada
2805 Posts |
Yes, I should hope no self-respecting prepper would accept tacky copper rounds... unless he/she has the facilities to melt them into something useful like wire or pipes. From what I've read, either normal currency would be used at high prices (as happened with the Deutsche Mark during the Bosnian War, 20lbs of firewood was apparently 50DM in the winter... supply and demand!) or the barter system would work itself out. Apparently luxuries become near-worthless in actual emergencies, and this includes gold and silver.
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Bedrock of the Community
13014 Posts |
Quote:
It looks like certain people are collecting tin, coppper, nickle and even steel that are made into bars and rounds. Keep in mind theres a difference between collecting because you like it and hoarding it because its a "precious metal". If you like them by all means get some, but in terms of thinking profit could be made with the spot price moving you might have better luck with the lottery Silver and gold get all the fanfare because at times theyve brought back huge returns. 100 ounces of silver going from 600ish to over 4k or 100 ounces of gold going from 35kish to over 200k catches peoples attention. 100 ounces of copper may going from just under 400 to just under 500, not exactly a big return. There are more niche metals you can get into like Platinum and Palladium that have brought back big returns, but like everything its all about timing of when you buy. They all have pretty well defined ceilings theyve turned around at. Platinum and Palladium have a less defined history but that doesn't mean either is going to take off running and never look back. Edited by basebal21
01/21/2014 8:23 pm
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Pillar of the Community
Canada
2805 Posts |
Rhodium became famous for breaking (I think) $4000 per ounce, then falling just as fast. There are exciting obscure metals out there, but you have to appreciate owning and collecting them because it's impossible to buy and sell large quantities at low premiums to make lots of fast money. Copper is comparatively boring and the premiums on small amounts of it are much worse.
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Pillar of the Community
United States
3789 Posts |
According to the definitions set by London and other metals markets, copper is not a precious metal.
It falls under the industrial/base metals category.
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Pillar of the Community
United States
3789 Posts |
BTW-dont buy copper for investment, it also is in a very severe downtrend and there is a glut of copper going forward so this is not the time to be buying it for investment.
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Pillar of the Community
United States
1391 Posts |
Quote:it seems that there are many different "bullion" available today, especially on ebay. It looks like certain people are collecting tin, copper, nickle and even steel that are made into bars and rounds. It is a simple formula. Some word + bullion = $$$$$  Copper Bullion Zinc Bullion Paper Bullion Cotton Bullion Coal Dust Bullion ( http://en.numista.com/catalogue/pieces21790.html)  People are hyping a lot of stuff on ebay and to the prepper world. Copper is not a precious metal and I doubt it ever will be. |
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Pillar of the Community
Canada
2805 Posts |
If your biggest target market is preppers, your product is already hopeless.
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Valued Member
United States
337 Posts |
I might have to get me some paper and cotton bullion lol.
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Replies: 56 / Views: 7,968 |
Posted 01/21/2014 7:46 pm
