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Copper Prices Down. Will You Still Hoard?

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Author Previous TopicReplies: 11 / Views: 1,982Next Topic  
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carloscoria's Avatar
United States
729 Posts
 Posted 12/03/2015  8:10 pm Show Profile   Bookmark this topic Add carloscoria to your friends list Get a Link to this Message Number of Subscribers
Prices are down across the board. Will you still continue to add to your 1 ton of pennies(363,000)? Or will you start dumping?

Curious.
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Hello There's Avatar
United States
1191 Posts
 Posted 12/03/2015  9:36 pm  Show Profile   Bookmark this reply Add Hello There to your friends list Get a Link to this Reply
I will keep adding, if it won't go up again I will dump. Easier to dump than hoard, right?
Bedrock of the Community
sel_69l's Avatar
Australia
21786 Posts
 Posted 12/03/2015  9:38 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Hoard unshielded copper wire; it's pure, no refining costs.
Something like stripped electric cable would be OK.

Price currently around U.S.$2.07 per pound, 0.45 cents per gram. That's for pure copper.
However all commodity prices are down.
The Australian Government is slowly going broke as a direct result of low commodity prices.

We are currently at about 7:30 on the investment cycle clock, the bottom of the commodity prices chart.
BHP-Billoton (World's biggest copper miner) says not to expect a recovery in the copper price for at least three years.

"Buy in gloom, sell in doom"
Actually I think that hoarding of any commodity that you like, in small incremental amounts over the next four to six years may be a good idea.

Most people accumulate gold or silver; both are easier to store.
Edited by sel_69l
12/03/2015 10:19 pm
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CopperCastle's Avatar
United States
1132 Posts
 Posted 12/04/2015  02:29 am  Show Profile   Bookmark this reply Add CopperCastle to your friends list Get a Link to this Reply
The only dumping of Copper I'll be doing is on the desk to search varieties.
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 12/04/2015  05:21 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Nah, I'm not hoarding metal in a form that just isn't 'liquid'. In coin form, I can only sell it to other hoarders, unlike raw form such as wire or junk that I can sell any day of the week. I can also accumulate faster than coin, for free.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Slamnbass's Avatar
United States
3644 Posts
 Posted 12/11/2015  7:06 pm  Show Profile   Bookmark this reply Add Slamnbass to your friends list Get a Link to this Reply
I agree with good time to accumulate precious metals but I like to buy during the doom and sell during the gloom lol-warren buffet says 'when there's blood in the streets buy buy buy' I always follow his advice has always paid dividends for me.
Edited by Slamnbass
12/11/2015 7:07 pm
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Mr Click's Avatar
United States
964 Posts
 Posted 12/11/2015  10:28 pm  Show Profile   Bookmark this reply Add Mr Click to your friends list Get a Link to this Reply
I dumped my hoard of pennies and bought silver. A lot easier to store.
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Mr Click's Avatar
United States
964 Posts
 Posted 12/11/2015  10:29 pm  Show Profile   Bookmark this reply Add Mr Click to your friends list Get a Link to this Reply
Though I do miss them so
Edited by Mr Click
12/11/2015 10:30 pm
Rest in Peace
T-BOP's Avatar
United States
18456 Posts
 Posted 12/12/2015  08:31 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
I stopped saving copper cents when the price was $2.55 a pound because at that time I thought it was ''centsless''to keep hoarding. Now at about $2.00 a pound it's downright the wrong way to go.
I know some of you have accumulated 5 gallon buckets of copper cents, but IMHO dump them and buy either silver bullion or any other coins that interest you. when I dumped my pre-82 Lincolns I bought some real nice Mercury dimes for my collection !
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Steele's Avatar
United States
1119 Posts
 Posted 12/12/2015  4:05 pm  Show Profile   Bookmark this reply Add Steele to your friends list Get a Link to this Reply
Why would you advocate to sell when the value is down? to me it seems like now would be the time to buy and/or sit on what you already have until the price goes back up.
Rest in Peace
T-BOP's Avatar
United States
18456 Posts
 Posted 12/12/2015  6:24 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
steele , did you invest more than one cent each for your copper Lincoln memorials ? I didn't sell them I just dumped them at no cost to me other than my time accumulating them ,then used the money from cashing in to buy nice coins now instead of waiting maybe years for the price of copper to go up.
unless your a young collector and can afford to wait that long.
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Mr Click's Avatar
United States
964 Posts
 Posted 12/12/2015  10:23 pm  Show Profile   Bookmark this reply Add Mr Click to your friends list Get a Link to this Reply
I started hoarding pennies when they were close to 3 cents a piece and silver was $35/ounce. So now that silver is under $14. It makes cents to buy silver while its down. If copper goes up you can always start another hoard
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