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Pillar of the Community
United States
4858 Posts |
What say you?
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Pillar of the Community
United States
6983 Posts |
Not at the price / weight ratio. Bullion should be costly enough to make the storage cost worth it. It's a lot easier storing 5 and 1/2 ounces of gold compared to a monster box of 500 ASE (silver) compared to 43,500 ounces copper Edited by hfjacinto
10/15/2022 4:36 pm
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Pillar of the Community
 United States
4375 Posts |
Copper ain't bullion, no matter how often the "snakes oil sales men" repeat this lie.
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Moderator
 United States
32709 Posts |
 Better to stack silver IMO.
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
United States
684 Posts |
I don't stack copper & have never considered it. Seems like too much quantity and is like 250 kilos of copper for an ounce of gold. I will stick with silver and gold & maybe palladium / platinum.
I've been collecting for a couple years... Favorite Coin's are Standing Liberty quarters, Working on my type set | Coffee, Corvettes, Coins & the CCF what could be better? |
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Bedrock of the Community
Australia
21593 Posts |
If you are going to buy scrap copper, it is best bought as scrap at the 10's of kilos volume level in the form of copper wire, to make the exercise worthwhile.
Costs have to be paid to remove the insulation, but
the copper wire itself is pure, thus without refining costs.
The recovered copper could be stored in bar form, and sold above the 30 day average moving average price line.
As a kid I scoured rubbish dumps and roadside community junk piles, and got my scrap non ferrous metals for free, except for the effort. Don't do it now.
This sort of effort could be more correctly termed 'metal recycling' and not copper 'bullion', but at least I made some good money out of it.
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Pillar of the Community
United States
9754 Posts |
In my opinion it is better to stack silver because I don't think copper is ever going to be worth that much (at least in my lifetime).
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2Edited by Earle42
10/15/2022 8:58 pm
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Pillar of the Community
 United States
4858 Posts |
Good points but premiums are way expensive for the other PM's.
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Pillar of the Community
United States
848 Posts |
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Bedrock of the Community
United States
10786 Posts |
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Pillar of the Community
United States
623 Posts |
You have to look at how much copper goes up and down in value which it does but dose not fluctuate that much which means to make any real money you would have to buy low and sell high ( that is obvious) but to make worthwhile you would have to have very large amounts to make it worth while. I would say no it's not worth it to much work.
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Moderator
United States
54140 Posts |
2000 pounds of copper cents. @$3.41/lb, that's $6,820. That's about the same as 4 ounces of gold (which you could put in your pocket).  Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
623 Posts |
Ms-52 that about sums it up
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Pillar of the Community
United States
5825 Posts |
When you say "bullion" I assume you mean .999 fine.
US Lincoln cents aren't; they are .950 fine.
For many industrial uses that's not pure enough.
So you'd lose value from spot price because of the need to purify the copper.
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Moderator
Australia
16181 Posts |
Quote:
Good points but premiums are way expensive for the other PM's. There's a reason why "copper bullion premiums" are so low: nobody wants it. When using copper as a means of wealth storage, you are replacing "premiums" with "handling fees". It costs money to ship around that amount of copper, whether you're buying, selling, or simply moving house. And it costs space to store it. Ancient Athens embraced the concept of silver coins very quickly and early, once coins were invented. Ancient Sparta refused to do so, instead continuing to use the traditional Greek-style copper sticks for money. When asked why they refused to issue coins, they explained that they didn't want their citizens to be guilty of hoarding wealth, so they deliberately made "wealth" difficult and inconvenient to hoard. In mediaeval China, the copper-based monetary system was so inconvenient for hoarding and transporting wealth, they found it necessary to invent paper money, hundreds of years before it was invented in Europe. Copper: the most inconvenient and impractical form of wealth storage for 2500 years.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
Australia
21593 Posts |
Copper:- better to only temporarily accumulate in multiple kilo volumes, then sell when the price is advantageous.
Then start the cycle again.
Silver and gold are better for much longer term accumulation, and the space they take up is a lot less.
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Replies: 50 / Views: 5,112 |
Posted 10/15/2022 4:41 pm
