Quantcast
  1. Sign up now and join over 35,000 northwest gun owners. It's quick, easy, and 100% free!

Copper Bullion

Discussion in 'Preparedness & Survival' started by The Duck, Aug 27, 2011.

  1. The Duck

    The Duck Oregon Active Member

    Messages:
    556
    Likes Received:
    109
    Does anyone have interest in Copper Bullion or already collect?

    Do you feel that this could be a low cost barter coin if our paper goes belly up?

    I have seen local communities in the east start their own currency already (i.e. townships and counties), which is 100% legal. The US allows the manufacturing and use of custom currency for anything which is not a Dept...

    I am in the air on this one, but the cost is so low... Sort of thinking about it?
     
  2. nubus

    nubus Guest

    I just can't get over buying it instead of silver. I realize it's got value that could rise exponentially, but why not buy a roll of pre-65 dimes instead. Small enough to trade and light enough to carry in your pocket. However, it does seem like buying a few bars to just tuck away couldn't hurt. Crap I was trying to talk you out of it and now I'm talking myself into it! Just don't pay a stupid premium for it being bullion. You should still be able to buy just above market value.
     
  3. Gunner3456

    Gunner3456 Salem Well-Known Member

    Messages:
    5,108
    Likes Received:
    834
    Copper is for use in manufacturing, not a precious metal. If the economy crashes, I don't see a lot of value in copper.

    I'm sure you know that the mint stopped making pennies out of copper after 1982. They are now 98% zinc with copper plating. Zinc is worth a fraction of copper. Up until 1982, they were about 99% copper. The commodities market is all over the place right now, and the copper in a real copper penny has been worth between 1.5 and 2 cents lately.

    If you're after copper, used copper pipe from demolition would be a source.
     
  4. NuthinFancy

    NuthinFancy Seattle Area Active Member

    Messages:
    163
    Likes Received:
    48
    At $4/pound you have to collect 425 pounds of copper to equal the value in 1 ounce of gold (assuming $1700/ounce) or 10 pounds to equal the value in one ounce of silver (at $40/ounce). That's a lot of copper to collect and store.

    Ask yourself, if you are bartering, would you prefer to tote around 11,100 pre 1982 copper pennies or a roll of 40 pre 1965 silver quarters? Both have around the same intrinsic value.
     
  5. Burt Gummer

    Burt Gummer Portland Completely Out of Ammo

    Messages:
    5,969
    Likes Received:
    5,495
    Copper, silver, or a doorknob. Anything real. Nothing tied to paper or digits in a computer. They will go 'poof.' If you feel comfortable with copper, go for it.
     
  6. Camtender

    Camtender SE Portland Member

    Messages:
    255
    Likes Received:
    12
    Yes
     
  7. PBinWA

    PBinWA Clark County Well-Known Member

    Messages:
    1,092
    Likes Received:
    359
    I collect copper but it is wrapped around lead and usually has some brass holding it in place. ;)
     
    BrentN, mrblond, nforest and 7 others like this.
  8. Gunner3456

    Gunner3456 Salem Well-Known Member

    Messages:
    5,108
    Likes Received:
    834
    How much work is it to dig through a lot of pennies to find 147 pre-82's?
     
  9. kenno

    kenno eastern WA Active Member

    Messages:
    748
    Likes Received:
    130
    solid copper boolets have excelent value
     
  10. Gunner3456

    Gunner3456 Salem Well-Known Member

    Messages:
    5,108
    Likes Received:
    834
    I'd kill for some of those, LOL. JOKING :)
     
  11. PhysicsGuy

    PhysicsGuy Corvallis, OR Resident Science Nut

    Messages:
    4,132
    Likes Received:
    155
    Well the problem with this math is that only pre 82 pennies have a significant amount of copper. Plus there is the fact that this is only 95% copper, so the $4/lb price (for pure copper) is not valid, and the price its really worth is going be to well below scrap copper prices. (Unless you have the ability to smelt, or find a scrap dealer that is actually willing to pay 95% of scrap price)
     
  12. Camtender

    Camtender SE Portland Member

    Messages:
    255
    Likes Received:
    12
    Yes
     
  13. Camtender

    Camtender SE Portland Member

    Messages:
    255
    Likes Received:
    12
    Not much when you have a machine that sorts 18,000 pennies an hour with approx. 20% of circulated pennies being copper.
     
  14. Gunner3456

    Gunner3456 Salem Well-Known Member

    Messages:
    5,108
    Likes Received:
    834
    OK, when you get your pennies melted down and the zinc refined from the copper, and you have 100 pounds of pure copper worth at most $350 wholesale, post a pic.

    I think you'd do better with a part time job, and spend all of your take-home on silver dimes.
     
    NuthinFancy and (deleted member) like this.
  15. Camtender

    Camtender SE Portland Member

    Messages:
    255
    Likes Received:
    12
    Maybe.
     
  16. Gunner3456

    Gunner3456 Salem Well-Known Member

    Messages:
    5,108
    Likes Received:
    834
    I guess your time isn't worth as much as mine. Lordy, the work of separating 10,000 pennies, the time it takes to list them, then prepare for shipping and go to the PO...

    Made $100!!!
     
  17. NuthinFancy

    NuthinFancy Seattle Area Active Member

    Messages:
    163
    Likes Received:
    48
  18. Thebastidge

    Thebastidge 10411 NE Fourth Plain Blvd Vancouver WA 98662 Well-Known Member

    Messages:
    592
    Likes Received:
    396
    I believe it is illegal to melt any US Currency, not just pennies. So junk silver coins, even though many of them have been melted, nonetheless are illegal to melt.
     
  19. Gunner3456

    Gunner3456 Salem Well-Known Member

    Messages:
    5,108
    Likes Received:
    834
    I wouldn't melt silver coins anyway unless I had a jewelry hobby or something. The coin proves it's real.
     
  20. HappyRoman

    HappyRoman Sherwood Forest Bronze Supporter Bronze Supporter

    Messages:
    2,166
    Likes Received:
    120
    collection copper, while currently in the 3-4$ range, might not be a great idea, FMJ bullets, even good plated bullets could be a good investment. Less than 8 yrs ago, 230gr,.451 (45acp) projectiles where in the $55-85range. today the least expensive I have found is $115 going to over $200. Plus if you reload, having 10K of you favorites is always useful..