Copper Reaches 28-Month High At $4/Pound

Seeking Alpha ^ | 11-9-2010 | Tim Iacono

[ari-freedom]

no, it doesn’t work that way because most money exists as 0’s and 1’s inside a computer.

[Jack Black]

Check out the picture of the coin above. The legend: "Read Atlas Shrugged".

Here's the obverse side:

Notice the vendor! Pretty cool. I may order some for Christmas stocking stuffers.

[null and void]

Why does it say AV OUNCE on the coin if it’s a troy ounce?

[Reaganez]

Maybe I should buy the copper sink and backsplash now that I was planning to buy next summer.

[null and void]

I expect it will be $400/lb next summer.

Same price as hamburger...

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[TEXOKIE]

bttt

[Jack Black]

Why does it say AV OUNCE on the coin if it’s a troy ounce?

Good catch. It's also sort of weird that it says "TWO" in big letters on it, and has a dollar sign.

Sort of a clever joke but I think they screwed it up. Putting "dollar" or $ on coins is also a big Bozo-no-no. Some silver dollar peddlers got in a lot of hot water for that a few years ago.

The Amero is a much nicer coin, and I'm sure Obama will be bringing them in soon enough.

[Lazlo in PA]

Not gonna be that lucky. As a slumlord, we had properties totally trashed by copper thieves during the last copper boom. Smashed holes in walls and stripped basements of plumbing and electrical.

That is where the maggots will hit first. Low hanging fruit.

[television is just wrong]

so that is going to make pennies more valuable?

[null and void]

I count three fascist symbols on the obverse.

[null and void]

Putting "dollar" or $ on coins is also a big Bozo-no-no\

True, but the $ was prominently displayed in Galt's Gulch, IIRC

[justa-hairyape]

Right now pennies from the dates 1909-1981 are actually worth 2.6 cents. So you more then double your money, but it takes a lot of pennies to make some decent money. In a hyper inflation scenario the US dollar might be worth the same as a penny dated 1909-1981. You can check the melt value price of coins here.

Current Melt Value of Coins

Save old pennies and nickels. They may end up being the only common currency we use that will retain value if we enter hyperinflation. Always like getting nickels as change.

[television is just wrong]

incredible.

[2001convSVT]

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)

And in 2012 pennies will be made of copper colored plastic.

[Blood of Tyrants]

Just the solid copper ones made before 1982.

[blam]

"So, if you have a jug full of pennies saved from 28 years ago, you can triple their value by melting them down."

It is against the law to melt-down US coins.

[television is just wrong]

aw thats right zinc was mixed in after that.

[RingerSIX]

Where do you get them?

[Jack Black]

It is against the law to melt-down US coins.

You're right. What's funny is how new this law is. It's been against the law to melt precious metal coins (gold and silver) for a while, but no one ever thought anyone would bother with nickles and pennies.

Until 2006

New rules outlaw melting pennies, nickels for profit