Investing In Copper?

Discussion in 'Money, Investing & Precious Metals' started by UncleJoe, Jun 4, 2010.

  1. UncleJoe

    UncleJoe Well-Known Member

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    Here's your chance to own 1 million pre 1983 copper pennies, face value - $10,000, for only $25,000. :rolleyes:

    Yes, copper will probably increase in value. But 1 million pennies? :scratch
     
  2. NaeKid

    NaeKid YourAdministrator, eh?

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  3. mosquitomountainman

    mosquitomountainman I invented the internet. :rofl:

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    The per-ounce value of copper present in copper pennies is $0.0192296.


    One-million copper pennies are worth $19229.60 for the copper value. Not a good deal! Even with the zinc value added in they would be worth only $19493.40. Still not a good deal. (Unless you're selling them at that price.)

    http://www.coinflation.com/coins/1909-1982-Lincoln-Cent-Penny-Value.html
     
  4. TechAdmin

    TechAdmin Administrator Staff Member

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    He won't ship! That alone would be a nightmare.
     
  5. UncleJoe

    UncleJoe Well-Known Member

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    Ain't that the truth. 7000 lbs. :eek:
     
  6. kyfarmer

    kyfarmer Well-Known Member

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    I have invested in a lot of copper, but it's wrapped around a lead core. :D
     
  7. mosquitomountainman

    mosquitomountainman I invented the internet. :rofl:

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    Right on!!!!!:2thumb::2thumb:
     
  8. allen_idaho

    allen_idaho Well-Known Member

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  9. sailaway

    sailaway Well-Known Member

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    I like copper, it is used in the mfg. of bronze. I sell bronze for a living and have done quite well at it. I am a commissioned salesman so I make more money for less or the same ammount of work when the price is up. I do question the ammount of copper in a penny,:scratch several years ago they began adding zinc to the alloy in an effort to drive the cost down.
     
  10. mosquitomountainman

    mosquitomountainman I invented the internet. :rofl:

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    These amounts were for "Lincoln" pennies made between 1909 - 1982. I believe the copper content was higher then.
     
  11. kyfarmer

    kyfarmer Well-Known Member

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    There are tips for Sunday,Monday,Tuesday some for every day of the week. One must dress properly to do a job well. :2thumb:
     
  12. sailaway

    sailaway Well-Known Member

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    Yea, I bought my 1909 S VDB penny in 1977 for $300.00 and sold it in 2003 for $1,700.00. There was alot more copper in pennies back then. I'd still have that penny today if I didn't get a wife in 2002.:D
     
  13. UncleJoe

    UncleJoe Well-Known Member

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    No kidding!?

    I have one of those penny "books" that run from 1909-1958. It's completely filled except for the 1909 S VDB. Guess I know why now. :eek:
     
  14. sailaway

    sailaway Well-Known Member

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    Uncle Joe, you can get one for alot less than that at a coin show, but in my youth I was a good adult child of an alcohalic and mine had to be perfect. I mowed lawns, did odd jobs and delivered newspapers all summer to get that penny.
     
  15. dnsnthegrdn

    dnsnthegrdn Member

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    Not all 1982 pennies are solid copper. The copper pennies will weigh 3.1 grams while the zinc cored pennies weigh 2.5 grams.
     
  16. Cahri

    Cahri Well-Known Member

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    Here copper is always a target for thieves, I think I'll pass
     
  17. slick

    slick Active Member

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    I bought a 5 kilo bar from tacoma copper just for the heck of it, its polished up nice and on a stand.. Cya Slick
     
  18. efbjr

    efbjr Well-Known Member

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    Good buy...

    You bought a wife for a penny! Wow...What a deal! :2thumb: I got married 30 years ago and I'm still paying! :eek: :D
     
  19. efbjr

    efbjr Well-Known Member

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    So is aluminum. Came home to my apartment building and saw two techs working in the cell phone equipment building attached to the main building (we have 3 cell systems operating off of the roof...no problem with signal strength here! :2thumb: ) Seems that some low-lifes stole all the aluminum ground wire attached to the structure. Couldn't have been more than 15-20 pounds worth, but a major pain to replace! :gaah:
     
  20. power

    power ExCommunicated

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    Seems like investing in copper would not be a winning investment. The price isn't high enough. It takes quite a bit of room to keep enough to make it worth while. Any amount not mounting to tons would not be worth the effort. With tons you would need a safe place to store it.