Author Topic: Copper  (Read 2713 times)

Offline Snowpiercer

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Copper
« on: November 11, 2014, 05:46:11 PM »
Hi everyone.  Longtime lurker, new to the board. 
Excuse any ignorance, but I have noticed copper coming up in bullion , corn, ammo , etc form lately. 
Is there really a market for copper?  Or should I say, as an investment vehicle the same way as silver , gold, etc?

Thanks.

Offline never_retreat

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Re: Copper
« Reply #1 on: November 11, 2014, 06:21:48 PM »
Scrap value of copper topped out a few years ago. I don't think it would invest in copper, unless you have the ability to obtain it for free.

Offline Snowpiercer

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Re: Copper
« Reply #2 on: November 11, 2014, 06:44:22 PM »
That sounds like what I was thinking. 

endurance

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Re: Copper
« Reply #3 on: November 11, 2014, 07:35:33 PM »
Yep, I wouldn't invest in it because it's an industrial metal used in enormous quantities.  If the economy tanked, demand would tank, and there goes the value.  Besides, if you wanted any meaningful quantities, you'd need a ton of it.  The price of copper is about $3/pound right now.  The price of gold, by comparison is at a multi-year low around $1,150/ounce right now.  It would take 383 pounds of copper to have the equivalent value of a single ounce of gold.  Silver, by comparison at $15.70/ounce, would take 73 ounces to equal the price of an ounce of gold.


Offline JLMissouri

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Re: Copper
« Reply #4 on: November 11, 2014, 09:43:39 PM »
I save copper, all pre 82 cents are copper and are worth more than their face value. Might not ever amount to anything, but it gives an easy way to make my safe weigh several hundred pounds making it much harder to leave my house. Not hard to look through the cents you get in change. Copper doesn't compare to silver or gold but it has its place.

On a side note I saved copper as a scrap metal and refused to sell it back when it was only bringing in $.80 a pound, when it jumped up to $3.50 I sold out making several thousand. In the scrap metal business copper is hard to beat for the ease of reclaiming and profit potential.

Offline mountainmoma

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Re: Copper
« Reply #5 on: November 11, 2014, 09:58:49 PM »
I have some copper rounds, not alot, but they are cool and good for "change", it is a convenient size and copper is a real versital metal in any case. But, besides a little of the copper, I think silver is good. And, I dont know which is better as a small alternate currancy, copper 1 oz or paradimes --

Offline TheRetiredRancher

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Re: Copper
« Reply #6 on: November 12, 2014, 08:47:52 AM »
Copper is only good as an investment if you can trade the commodity future contracts.  I work in the copper industry and would never invest in the metal.  It is great for salvaging and selling for its scrap value as it is easy to recycle and the scrap price is pretty close to the commodity price.  The interesting thing about copper is it is one of the best leading indicators of the economy.  That is it usually goes up before the general economy does and falls before the rest of the economy as it's demand and consumption are directly tied to economic growth.

endurance

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Re: Copper
« Reply #7 on: November 12, 2014, 08:55:27 AM »
Copper is only good as an investment if you can trade the commodity future contracts.  I work in the copper industry and would never invest in the metal.  It is great for salvaging and selling for its scrap value as it is easy to recycle and the scrap price is pretty close to the commodity price.  The interesting thing about copper is it is one of the best leading indicators of the economy.  That is it usually goes up before the general economy does and falls before the rest of the economy as it's demand and consumption are directly tied to economic growth.
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