Copper Sale On Ebay, What Am I Missing?

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Author	Replies: 9 / Views: 1,958
willy13 Pillar of the Community United States 632 Posts	Posted 04/22/2011 08:13 am http://cgi.ebay.com/ws/eBayISAPI.dl...TRK:MEWAX:IT Someone bought 19.55 oz (1.22 lbs) of copper bullion for $31 plus 5$ shipping. Thats over $29 per pound. Plus there doesn't seem to be any official stamping showing that it is 99.9% copper. Either I am missing something, or a bidder made a mistake. Copper bullion cant be this high, is it? Report this Post to the Staff

hockingzig Pillar of the Community United States 1450 Posts	Posted 04/22/2011 09:01 am Sometimes newbies think ALL metals are priced per ounce and make huge mistakes when they think they are getting gret buys. Initially,many folks make that mistake with copper because it is often mentioned with silver and gold. My bet is that what the bidder was thinking,or they just really wanted a bi ingot of copper for effect! Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 04/22/2011 3:15 pm My local dealer is selling one ounce copper rounds for $5/ea ($80/lb.). Go figure. You need 1,000+ pounds of copper to amount to any significant amount of money. Even silver gets heavy when you have a lot of money tied up in it. With copper you're going to need a fork lift! ANA #R3154474 Report this Post to the Staff
Maineman750 Pillar of the Community United States 3592 Posts	Posted 04/22/2011 3:36 pm I've also seen $100 FV copper cents go for $63...go figure that while your at it Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/22/2011 3:44 pm Funny though, those dealers are laughing all the way to the bank every time a new noob buys a bunch of copper, for waaaay more than what they got it for. While we are all settin out saying, heck copper is 6 bucks a pound, kinda far from the 47 an oz silver is bringing right now.... Still, no way I would buy a bunch even at bottom spot, hoping many less informed folk would end up purchasing it. That is not much of a long term success strat IMO.... Plus, like BH1964 said, I DO NOT own a fork lift, large storage unit either.... Edited by Silverhawk74 04/22/2011 3:45 pm Report this Post to the Staff
willy13 Pillar of the Community United States 632 Posts	Posted 04/24/2011 11:20 pm It is interesting that 99.9% copper coins are appearing in coin stores. When did copper become a metal for investing? I certainly see the value in hoarding 95% copper cents at face value, as I am one of those hoarders. And I do happen to have storage area and a forklift, not that I'll ever acquire that much roll searching. I just think its odd to be buying these coins/bars way above melt. Very odd... Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 04/25/2011 12:16 am I think people are afraid and trying to get SOMETHING of value with what they can afford. Many financial advisers are recommending copper cents to their clients as a cheap way to have some skin in the commodities market without a high risk. I think copper will be the next thing to take off. Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 04/25/2011 1:04 pm I thought copper already had its run up a couple years ago when people was stealing wire out of new houses and stealing all the copper tubing under the new houses also. When copper price goes up everyone looses their mind, its not like Silver and Gold Report this Post to the Staff
junior e Pillar of the Community United States 931 Posts	Posted 04/25/2011 2:59 pm I am a copper investor. I just bought a one ounce copper round that looks just like an ASE on the obverse. I paid a little over two bucks, That would mean that I'm paying $32.00 per pound. Do I think it was a sound investment? No. Is it a cool proof-like coin for way under three bucks? Yes. I have decided against buying the 500 ounce monster box. I don't think that I would make out very well. Can you imagine how much money the mint that is putting them out makes? Crazy metal markets right now. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 06/15/2011 10:19 pm I thought maybe it was pretty bars with designs. It's a flippin' lump of unknown purity copper! The same guy can't get a $35 bid on 1.6 oz of sterling. http://cgi.ebay.com/170653611607 Report this Post to the Staff
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