Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > PM Bug

Like Tree8Likes
  • 2 Post By Mark
  • 4 Post By ADK
  • 1 Post By DoChenRollingBearing
  • 1 Post By DCFusor

Reply
 
LinkBack Thread Tools
Old 10-04-2012, 09:55 AM   #1
Predaceous stink bug
 
Mark's Avatar
 
Join Date: Jun 2012
Location: Taylors, (Greenville) SC
Posts: 109
Liked: 42 times
Non-Precious Metals

Maybe this isn't the right place to post this so I apologize. I was speaking with a Precious Metals broker this past weekend and he brought up the subject of copper and a future demand for it. He told us the amount of pure copper in a .01 penny and indicated that you'd want to "hoard" pennies from 1982 and back. He said it's just something he and his grand kids do and they have a blast going through rolls of pennies. Well, my question is this: What about some of the other metals such as copper and nickle (or even zinc, etc...) Would it be worth it to do something like that? I'd appreciate some opinions. Seems like it might be fruitful to keep your old pennies and nickles.
What say you guys?
__________________
mad
"Never mistake education for intelligence"
Mark is offline   Reply With Quote
Old 10-04-2012, 10:42 AM   #2
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
We recycle all sorts of non-precious metals including, copper, aluminum, zinc and stainless steel. At one point, I could get 1.85 for a pound of stainless. That has dropped considerably since those days, but it is still well worth recycling. Copper as well.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 10-04-2012, 11:50 AM   #3
ADK
Predaceous stink bug
 
ADK's Avatar
 
Join Date: Apr 2012
Location: Backwoods of NY
Posts: 223
Liked: 123 times
It seems to me that copper is still pretty widely available --- building materials, etc., and that the price would stay low --- of the same token, I suppose it will go up over the years. However, copper isn't gold or silver, which are recognized as money. Of course, gold is the primary metal.

I haven't done the research, so I'm talking out of line. But, I would imagine that you wouldn't make much profit from copper as you would gold or silver.

If I was searching rolls, I'd be looking for silver

ADK
__________________
I like the idea of trading silver with the gentlemen while keeping gold like a king and always appearing as a peasant...
ADK is offline   Reply With Quote
Old 10-04-2012, 12:24 PM   #4
Mote in the Fed's eye
 
Join Date: Sep 2012
Posts: 22
Liked: 18 times
Copper has been becoming more valuable as of late.

So valuable (relatively speaking) in fact, that thief's have been raiding construction sites stealing the electrical cables, and reselling them for a large profit.

While you definitely aren't going to make as much as Gold or Silver, if you happened upon a large amount of copper for free, you could make a few bucks out of it.

Having said that, would I spend my time collecting it? Probably not.

But its a good way to get kids interested in the idea of investing and saving for their future.
__________________
Goldco Direct Offers Gold IRA Accounts
We also sell Gold Bullion and Silver Bullion
GoldcoDirect is offline   Reply With Quote
Old 10-04-2012, 12:30 PM   #5
Predaceous stink bug
 
Mark's Avatar
 
Join Date: Jun 2012
Location: Taylors, (Greenville) SC
Posts: 109
Liked: 42 times
Well I collect silver. I was just wondering if would be worth it to get a little copper here and there instead of buying Slim Jims.
__________________
mad
"Never mistake education for intelligence"
Mark is offline   Reply With Quote
Old 10-04-2012, 12:53 PM   #6
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
Originally Posted by Mark View Post:
Well I collect silver. I was just wondering if would be worth it to get a little copper here and there instead of buying Slim Jims.
It wouldn't hurt to keep pre-82 pennies and just about any nickles, but I wouldn't go out of my way to do so. While they are worth more in melt value than face, you would need a lot of storage if you really got into it.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-04-2012, 03:12 PM   #7
ADK
Predaceous stink bug
 
ADK's Avatar
 
Join Date: Apr 2012
Location: Backwoods of NY
Posts: 223
Liked: 123 times
One of my many side hustles (http://artofmanliness.com/2012/08/15...-hustle-ideas/) is to collect scrap metal when the opportunity presents itself and sell that to the local scrap yard, then re-invest that money in gold and silver.

I don't do it all the time, but when it presents itself I'm certainly savvy enough to take advantage of it. For instance, a friend was cleaning out his father's printing shop --- there were old scrap machines and nearly 600 pounds of aluminum litho plates and over 1,000 pounds of printer's lead. No one wanted to move the stuff or deal with getting rid of it --- I offered to clean it all up, do all the labor, then split the cash from the scrap yard.

I sold the scrap metal locally, then e-bayed the linotype. Grossed over $3k for a days work, split 60/40. I kept 60. I was happy, they were happy, etc.

When I complete projects at home I always keep and separate the scrap. (I weld, which generates a lot of scrap... lol) Household stuff... wires, pipes, etc. Man, it adds up.

ADK
__________________
I like the idea of trading silver with the gentlemen while keeping gold like a king and always appearing as a peasant...
ADK is offline   Reply With Quote
Old 10-04-2012, 10:12 PM   #8
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
@ ADK, I bet it does add up when you can find a nice pile of metal that the owners cannot assign a value to.

@ Mark, I keep ALL nickels and inspect my change each day for the 1981 and before pennies (copper). I have about 1 and 1/4 liters (Aquafina bottles) of Cu pennies and about 1 and 1/2 GALLONS of nickels.

Metal value of US coins can be found each day at: coinflation.com
ADK likes this.
DoChenRollingBearing is offline   Reply With Quote
Old 10-05-2012, 06:44 AM   #9
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,027
Liked: 2449 times
Originally Posted by benjamen View Post:
... While they are worth more in melt value than face, you would need a lot of storage if you really got into it.


I used to have a collection of pennies. Volume wise, it was about 2-3 shoe boxes full of rolled coins (but you couldn't carry it in shoe boxes because they weren't strong enough to hold the weight). I traded it in for silver a few years ago. I've been very happy with that decision.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 10-05-2012, 08:45 AM   #10
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
http://www.bloomberg.com/news/2012-1...mmodities.html

Among commodities analysts (as of Oct 4), it looks like gold and soybeans are the most popular picks and copper is the least popular.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-05-2012, 08:53 AM   #11
Yellow Jacket
 
DCFusor's Avatar
 
Join Date: Nov 2011
Location: Floyd, Virginia
Posts: 1,682
Liked: 1233 times
I'm a fan of copper, not the penny alloy. Ratio wise, I've not done so poorly - remember there was a time it was too cheap to be worth stealing. So when I built this place, I bought a few hundred extra pounds of flashing (at $1.25/lb), plenty of extra pipe, and fat (#2 and on down to 000 gage) wire. That and stainless steel, and various other things scrounged here and there make up most of my "junkyard" for the machine shop.

Considering my basis cost on the copper is around $1/lb (a lot was scrounged free)...I think I've done OK on that stack.

Go check the current price of linotype and weep, ADK - it's about the best stuff out there for casting your own bullets....
http://www.rotometals.com/Bullet-Casting-Alloys-s/5.htm
That's about the cheapest outfit out there for things like this.
ancona likes this.
DCFusor is offline   Reply With Quote
Old 10-05-2012, 02:29 PM   #12
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
I should have mentioned this before, but just the very ACT of saving my Cu pennies as well as my nickels is that it helps give me a psychological component to help me spend less...

It is very true that to have substantial amounts of money (value) saved up in copper that you need a lot of space. But, just having some base metal socked away reminds me that the metal value IS worth more than the face value. And that having at least a tiny bit of stinginess somewhere helps me resist useless spending.
DoChenRollingBearing is offline   Reply With Quote
Old 10-05-2012, 07:32 PM   #13
ADK
Predaceous stink bug
 
ADK's Avatar
 
Join Date: Apr 2012
Location: Backwoods of NY
Posts: 223
Liked: 123 times
Originally Posted by DoChenRollingBearing View Post:
@ ADK, I bet it does add up when you can find a nice pile of metal that the owners cannot assign a value to.
My friend was actually just putting off the work of loading all of the aluminum plates into their truck (this was a basement print shop) and hauling them to the local transfer station to throw them into the metal bin.

I told him that I could do one better for him. It worked out

ADK
__________________
I like the idea of trading silver with the gentlemen while keeping gold like a king and always appearing as a peasant...
ADK is offline   Reply With Quote
Old 10-23-2012, 05:52 PM   #14
Fly on the wall
 
Join Date: Oct 2012
Location: Hudson Valley NY
Posts: 49
Liked: 11 times
Lots of people collect copper. a pre 1982 penny is worth about 2.5 cents in copper weight. I have heard of people also collecting nickles because they are worth more for the metal content than the face value of it.

Last edited by silvercoinrn; 10-23-2012 at 05:53 PM. Reason: Added content
silvercoinrn is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Review: Monarch Precious Metals HCA1961 Marketplace 4 05-31-2013 07:18 PM
Review: Monex Precious Metals PMBug Marketplace 8 10-12-2012 05:36 AM
Ohio Precious Metals (OPM) Mr_BimmerLV Silver Bug 2 06-22-2012 08:30 AM
Any Aussies into Precious metals? synopsis PM Bug 1 04-30-2012 06:10 AM
Review: International Precious Metals PMBug Marketplace 0 10-23-2011 04:34 PM


All times are GMT -5. The time now is 05:06 AM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.