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Copper Reaches 28-Month High At $4/Pound
Seeking Alpha ^
| 11-9-2010
| Tim Iacono
Posted on 11/09/2010 8:14:32 PM PST by blam
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1
posted on
11/09/2010 8:14:36 PM PST
by
blam
To: blam
Excellent! This will assure the thinning of the herd as scum bags try to steal from electrical substations.
2
posted on
11/09/2010 8:18:32 PM PST
by
buccaneer81
(ECOMCON)
To: blam
Time to dig through my pennies.
3
posted on
11/09/2010 8:18:39 PM PST
by
Blood of Tyrants
(Islam is the religion of Satan and Mohammed was his minion.)
To: buccaneer81
I’ve heard of several giant rolls of copper wire having been stolen from job sites over the past 3 years.
We’ve had 3 or 4 robberies on the job I’ve been on since Spring.
4
posted on
11/09/2010 8:22:04 PM PST
by
CommieCutter
(A Centrist Democrat is now defined as: between Socialism and Communism.)
To: blam
It will be interesting to see if people cheer the rising asset value of a fungible asset like copper or stock in a copper mining company as much as they did in illiquid investments such as housing.
5
posted on
11/09/2010 8:25:55 PM PST
by
posterchild
(Endowed by my Creator with certain unalienable rights.)
To: CommieCutter
Come now Did they really Robbed you or did the burglarize you
6
posted on
11/09/2010 8:26:50 PM PST
by
al baby
(Hi Mom REMEMBER FREE REPUBLIC IN YOUR WILL. I DID)
To: blam
Francisco d’Anconia is on a roll.
7
posted on
11/09/2010 8:27:41 PM PST
by
RingerSIX
(Better dead than red.)
To: CommieCutter
Jackasses were stealing lightpoles, without disconnecting them, around here a few years ago. Big Ben's Bonanza will wreak havoc on so many levels.
8
posted on
11/09/2010 8:28:45 PM PST
by
allmost
To: Blood of Tyrants
Only pre-1981 pennies are made of copper.
Post ‘81 they are made of zinc mostly.
There are 141 pre-81 pennies to the pound.
That works out to about three cents in melt value.
($0.028 each)
9
posted on
11/09/2010 8:29:05 PM PST
by
Jack Black
( Whatever is left of American patriotism is now identical with counter-revolution.)
To: blam
I’m waiting for someone in this administration to come out and blame the speculators.
To: blam
So...my 2 cents might be worth a penny now. cool.
11
posted on
11/09/2010 8:30:19 PM PST
by
MissyMack66
(Obama strategy: deny US military votes but give convicts the vote. This is NOT OK!)
To: MissyMack66
12
posted on
11/09/2010 8:32:52 PM PST
by
blam
To: Jack Black
Only pre-1981 pennies are made of copper. Post 81 they are made of zinc mostly. There are 141 pre-81 pennies to the pound. That works out to about three cents in melt value. ($0.028 each)
Actually both copper and zinc pennies were made in 1982. Either do a drop test for sound, or weigh them on a gram scale.
To: blam
Plus, the US dollar is made up of 100 pennies and since pennies are made of copper and copper has real value...there may be actual dollar valuation.
14
posted on
11/09/2010 8:33:55 PM PST
by
MissyMack66
(Obama strategy: deny US military votes but give convicts the vote. This is NOT OK!)
To: blam
And silver hit 29 or so today.
We are entering a strange and dangerous period.
Commodities are always the canary in the economic mine shaft.
To: blam
WOW - California may go dark before I thought it would - look for the illegals to start cutting power lines ...
16
posted on
11/09/2010 8:35:21 PM PST
by
11th_VA
(Bush is gone, long live the Tea Party ....)
To: al baby
Wrong word my apologies: Burglarize, I can say for sure it wasn’t a robbery and therefore they didn’t “Robbed” us.
17
posted on
11/09/2010 8:35:42 PM PST
by
CommieCutter
(A Centrist Democrat is now defined as: between Socialism and Communism.)
To: Jack Black
18
posted on
11/09/2010 8:37:26 PM PST
by
Blood of Tyrants
(Islam is the religion of Satan and Mohammed was his minion.)
To: Jack Black
Oh, yeah, if the treasury hadn't decided to couterfit pennies in 1981 (ie: make the zinc look almost exactly like the copper ones) it would be easy to sell the old ones for scrap. $1,411. of pennies would get you $4,000. Not a bad profit.
But because the zinc pennies are perfect forgeries there is no easy way for a scrap metal dealer to know what they are getting.
I think some private mints are starting to make copper coins now that an oz of Silver is almost $30 bucks that makes sense. (And they have already started minting 1/2 and 1/4 oz silver coins too.)
$4.00, for a 1 troy oz coin. (1 pound = 14.583 Troy Oz)
19
posted on
11/09/2010 8:39:55 PM PST
by
Jack Black
( Whatever is left of American patriotism is now identical with counter-revolution.)
To: Blood of Tyrants
“Time to dig through my pennies.”
I had the same funny thought, so I did some research. Today, pennies are over 99% zinc, with a very thin copper plating. Prior to 1982, pennies were 95% copper, and there were roughly 145 pennies in a pound. So, if you have a jug full of pennies saved from 28 years ago, you can triple their value by melting them down.
20
posted on
11/09/2010 8:42:06 PM PST
by
highimpact
(Abortion - [n]: human sacrifice at the altar of convenience.)
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