I read all the articals, and it seems to make sense. I also clicked on a banner ad, and went to the copper mint website.Do you think that investing in copper bullion is a wise idea? Please let me know.Thanks.
No. What a horrible idea.
Scammers that tout copper as 'the new silver' or 'the new gold' as they like to do, are feeding you a big line of crap. They just want to sell to another sucker. Current spot prices for today was $3.6883/lb. It lost more than ten cents a pound from yesterday. If you bought a thousand dollars worth yesterday it would be worth only nine hundred today. It still hasn't recovered from the big fall last year when revised estimates for China came out and it dropped like a rock. Chances are that company is going to be charging you WAY more than current spot prices. Did you know you can buy copper by the ton? If you bought a ton at todays spot price you would pay $7,377.00 but if you bought a ton of their coins you will likely pay five times that amount, (if not more). Figure it up yourself by checking their prices. I'll bet they are at least double current spot prices. Base metals aren't like precious metals. They are based on industry needs and projections. Since the economy is pretty much bad all over the world these idiots come up and try to tell you how much your copper is going to be worth if everything falls apart. Frankly if everything fell apart your copper wouldn't be worth anything at all. There wouldn't be any industry to buy it. And when it comes to barter.... just offer me some copper coins for a box of can goods. I'd laugh and tell you to get lost. Don't let them write sucker on your forehead.
Copper isn't magnetic. But that shouldn't be your criteria for investing! If you are buying it for a long term investment, you need to buy from a commodities broker that is reputable, and is licensed. If you are buying physical copper in quantity, you will need to pay storage charges to keep it somewhere. That is more similar to industrial use, and there are reputable sources. Without more details from you e.g. how much copper in weight or dollars, if buying the metal and storing it, you are going to invest, there isn't any way to tell you what to do. If you are buying coins, as collectibles, you should start by checking the website for the U.S. Mint, and learn about copper content percentages in coins. Buying and selling scrap copper is a good business, but there are laws and it is a lot different from buying it to hold as an investment.
no I don't this this is wise... pper is cheap ...about $3.00/lb...let us say you want to invest $3000 into copper....that is 1000lbs of the stuff....where are you going to store your investment... bably in the garage...not a safety deposit box....$3000 worth of gold is less than 2 oz...you can easily store this in a bank safety deposit box When you come to sell it..
Well it isn't a bad idea, just some what worth less. In another sense, you could probably get as much out of buying lemons and opening a cool aid stand. It's worth as much as having a news paper stand. Technically, a person could pick cooper out of the garbage and go sell it to some one that buys cooper. Cooper is every where. You could also sell plumbing hardware, screws, nails etc.
