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 Replies: 14 / Views: 2,240 |
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Pillar of the Community
United Kingdom
837 Posts |
I came across this news story about Copper prices and they were analysing why copper seems to be the worst performing base metal this year  There is also fascinating details about China`s stake in the copper market and why the Chinese gvt wants to keep copper prices up and why they try and intervene in the copper market..... http://www.bloomberg.com/video/copp...SUKv1bw.htmlWhat was also interesting was the prediction that copper prices will go up next year  , only to plummet the year after  .......  |
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Pillar of the Community
United States
1158 Posts |
I personally don't think most consider copper to be a precious metal since it is sold by the pound!
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Pillar of the Community
Canada
1747 Posts |
wasn't silver sold by the pound at one time as well?
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Pillar of the Community
United Kingdom
1563 Posts |
Copper will become a metal to keep an eye on, that is a fact. The Asian market have an issue with the 'petrol dollar' and this is why they are advised to own at least one ounce of pure gold per family member, when possible. Prices are a little strange at the moment due to political factors that I will not go into, but for whatever reason, certain places outside of the US, and the UK for that matter, are buying in precious metal resources at a huge rate. I make my living from buying and selling metals, I am personally stacking silver (refined .999) and copper. Different people and different countries have opinions that vary.... the fact that in the UK, you can melt a 2p coin of a certain date and get more for the metal content that it is worth in circulation should show the more intelligent 'dealers' what is coming.
You will never soar like an eagle if you hang around with turkeys.....
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Valued Member
United States
88 Posts |
Many people hoard copper, and I think it'll probably pay off someday.
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Pillar of the Community
United States
1037 Posts |
Outside of pre-1982 cents, I have bought copper billion bars in 2009, 4 Kilo bars. I bought them for $6 a kilo. I don't really know if they are a good investment or not.
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Pillar of the Community
Canada
3692 Posts |
"I personally don't think most consider copper to be a precious metal since it is sold by the pound!"
^ I endorse this statement.
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Pillar of the Community
 United Kingdom
837 Posts |
True, while its not a precious metal it`s significance has grown over the past 4 decades and the interesting fact that the Chinese Gvt uses it as collateral (as stated in that news analysis) showcases its growing importance....  Quote:
Copper will become a metal to keep an eye on,  Edited by DaytR
08/21/2014 3:24 pm
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Pillar of the Community
United Kingdom
1563 Posts |
Everyone will have a different take on certain metals. But lets face it, at the price copper is now, 99 percent of the population could buy into a part of it. Not only do the metal prices influence the market, but also the percentage of buyers that are able to buy. I also endorse my statement, copper will be the new silver.
You will never soar like an eagle if you hang around with turkeys.....
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Pillar of the Community
Canada
3692 Posts |
You're pretty set if you have only one box of pennies, IMO. Anything more than that is a strain on your foundation! I collect them as I go but I don't actively search for them, only nickel coins because they're easier to get in Canada (no more copper here, so if you weren't hunting before 2012 your chances of finding copper is slim).
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Pillar of the Community
United States
1158 Posts |
Maybe I'll just bury a 50 brick of copper in the backyard just in case! |
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Pillar of the Community
United Kingdom
837 Posts |
Quote:
in Canada (no more copper here, so if you weren't hunting before 2012 your chances of finding copper is slim).
 , for those people who have old copper pennies is it legal to melt them ? |
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Pillar of the Community
United Kingdom
1563 Posts |
It's not about melting, it is about what you are after from your money. I personally stack a lot of metal, purely because I have money that is dead money - money that is sat doing nothing. If I didn't have dead money I would not be stacking. Basically the stacking of metals, whatever they are, is not something that will make you a fortune. I have seen videos on you tube of huge stacks of silver that are for retirement purposes. Sorry, does not and will not work. Some will not agree with that so let me explain. If you have 100$ to spend, you could buy a certain amount of metal, sit on it for 30 years and then cash it in at hopefully a profit, nothing wrong with that.... But, with the same 100$ be smart, watch the spot price, on Monday (example) buy 100$'s worth of silver, then Thursday sell it for 110$ (again - example). Do this on every occasion possible and in the same 30 year span 100$ becomes far more lucrative.
You will never soar like an eagle if you hang around with turkeys.....
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Pillar of the Community
Canada
3692 Posts |
I don't need lumps of unknown metals. Coins are fine as-is. Melting is just backwards.
I'll leave the legal quabbling to others with more time.
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Pillar of the Community
United States
1132 Posts |
I roll hunt, keep the copper (and wheaties). The copper pennies pay my CoinStar deficit. It's a terrific cycle.
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Replies: 14 / Views: 2,240 |
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Posted 08/19/2014 7:12 pm
