Comments on: Will Copper Become the "New Gold?" http://moneymorning.com/2010/02/09/copper-new-gold/ Global Investment News Mon, 13 Feb 2012 18:41:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: drsanto http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13688 drsanto Mon, 15 Feb 2010 22:53:40 +0000 http://moneymorning.com/?p=16854#comment-13688 RE: "PLus fun to do"- Completely agree! RE: "keeping memorial pennies made from 1959 through 1982 is a wise way to hoard copper at WELL below spot price"- You're absolutely right. In fact (and for some time now), the Chinese are buying up pennies and shipping them to China to melt. Its much cheaper to mine them from circulation, than from rock and dirt. RE: "I have about 1.5 tonnes of copper so far form sorting pennies"- Good Lord! Where the heck do you store all those? I've got a few milk (and other plastic) containers filled with coins and its like... Umm... these suckers are heavy and~ where the heck do I put them? RE: "And a bucket full of wheat pennies that came in the batches too."- Very cool. I'm a coin collecter and hoping to fill a book with coins I find this way. Sounds like you have a better start than I do! Respectfully, I would suggest that people also hoard nickels. Not long ago, the metal content was worth about $.08. It's down to about $.0485 (http://coinflation.com/), but depending on the fluctuating costs of metals and effects of inflation, could be worth significantly more as time goes on. As a divorced dad dealing with custody issues, I don't have the money to hold that much of anything, but (as pathetic as it sounds) this is kinda my current "savings" plan. It's really all I have a chance to put away now and if I can, I'm going to hold onto them like some held onto silver (back in the day). Best wishes. DRS RE: "PLus fun to do"- Completely agree!

RE: "keeping memorial pennies made from 1959 through 1982 is a wise way to hoard copper at WELL below spot price"- You're absolutely right. In fact (and for some time now), the Chinese are buying up pennies and shipping them to China to melt. Its much cheaper to mine them from circulation, than from rock and dirt.

RE: "I have about 1.5 tonnes of copper so far form sorting pennies"- Good Lord! Where the heck do you store all those? I've got a few milk (and other plastic) containers filled with coins and its like… Umm… these suckers are heavy and~ where the heck do I put them?

RE: "And a bucket full of wheat pennies that came in the batches too."- Very cool. I'm a coin collecter and hoping to fill a book with coins I find this way. Sounds like you have a better start than I do!

Respectfully, I would suggest that people also hoard nickels. Not long ago, the metal content was worth about $.08. It's down to about $.0485 (http://coinflation.com/), but depending on the fluctuating costs of metals and effects of inflation, could be worth significantly more as time goes on.

As a divorced dad dealing with custody issues, I don't have the money to hold that much of anything, but (as pathetic as it sounds) this is kinda my current "savings" plan. It's really all I have a chance to put away now and if I can, I'm going to hold onto them like some held onto silver (back in the day).

Best wishes.

DRS

]]> By: drsanto http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13684 drsanto Mon, 15 Feb 2010 22:25:50 +0000 http://moneymorning.com/?p=16854#comment-13684 You can also drop them on a counter and listen for the distinctive sound difference. The copper pennies have a ring sound, while the zinc almost have a "thud" sound. Take the questionable (1982) penny, along with one pre-1982 (i.e., 1981 and before) and another post 1982 (i.e., 1983 and later) and drop them on the counter, one after the other. Drop the 1982 penny on the counter and compare the sounds. It's easy to tell, once you know the difference. In fact, we've done it so many times, my 11-year old can guess what it is without even seeing the penny. :-) DRS You can also drop them on a counter and listen for the distinctive sound difference. The copper pennies have a ring sound, while the zinc almost have a "thud" sound.

Take the questionable (1982) penny, along with one pre-1982 (i.e., 1981 and before) and another post 1982 (i.e., 1983 and later) and drop them on the counter, one after the other.

Drop the 1982 penny on the counter and compare the sounds. It's easy to tell, once you know the difference.

In fact, we've done it so many times, my 11-year old can guess what it is without even seeing the penny. :-)

DRS

]]> By: Paul http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13327 Paul Sat, 13 Feb 2010 16:20:39 +0000 http://moneymorning.com/?p=16854#comment-13327 The author mentions that that our currency is 92% copper and 8% nickel - that is true! Our clad coinage (dimes, quarters, half dollars) are 91.67% copper and 8.33% nickel overall (see coinflation.com). There is no mention of the penny in this article... The author mentions that that our currency is 92% copper and 8% nickel – that is true! Our clad coinage (dimes, quarters, half dollars) are 91.67% copper and 8.33% nickel overall (see coinflation.com). There is no mention of the penny in this article…

]]> By: A/M/G http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13109 A/M/G Thu, 11 Feb 2010 20:40:23 +0000 http://moneymorning.com/?p=16854#comment-13109 The 1982 copper penny weighs 3.1 grams the zinc weighs 2.5 grams. The 1982 copper penny weighs 3.1 grams the zinc weighs 2.5 grams.

]]> By: A/M/G http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13108 A/M/G Thu, 11 Feb 2010 20:37:55 +0000 http://moneymorning.com/?p=16854#comment-13108 Some of the 1982 pennies are made of 97.5 % zinc also. The only way to know the difference is to weigh them. Some of the 1982 pennies are made of 97.5 % zinc also. The only way to know the difference is to weigh them.

]]> By: Adam http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13099 Adam Thu, 11 Feb 2010 17:19:09 +0000 http://moneymorning.com/?p=16854#comment-13099 Yes, Investing in copper pennies is defintly the way to go. Limited downside since they are worth a minimum of 1 cent. Best part is that you have unlimited upside too! If you don't have time to sort or don't know how here is a company that sells copper in bulk! www.portlandmint.com Yes, Investing in copper pennies is defintly the way to go. Limited downside since they are worth a minimum of 1 cent. Best part is that you have unlimited upside too!

If you don't have time to sort or don't know how here is a company that sells copper in bulk! http://www.portlandmint.com

]]> By: Chipper http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13090 Chipper Thu, 11 Feb 2010 16:07:27 +0000 http://moneymorning.com/?p=16854#comment-13090 The author is referring to modern Dimes, Quarters, and Halves. http://www.coinflation.com/coins/1965-2007-Washington-Quarter-Value.html The author is referring to modern Dimes, Quarters, and Halves.

http://www.coinflation.com/coins/1965-2007-Washington-Quarter-Value.html

]]> By: BullionTracker http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13047 BullionTracker Thu, 11 Feb 2010 12:09:46 +0000 http://moneymorning.com/?p=16854#comment-13047 Start collecting the pre 1982 pennies. Start collecting the pre 1982 pennies.

]]> By: Von S http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13021 Von S Thu, 11 Feb 2010 06:18:12 +0000 http://moneymorning.com/?p=16854#comment-13021 Excellent article and you better believe Copper and other base metals will rise significantly over the next 10 years. Don't even mention rare earth metals- China is cornering and dominating this market....many of these rare materails are used in advanced weaponry and satellite technology. The US needs more mines and it's people need to save their copper pennies (no joke). Excellent article and you better believe Copper and other base metals will rise significantly over the next 10 years. Don't even mention rare earth metals- China is cornering and dominating this market….many of these rare materails are used in advanced weaponry and satellite technology.

The US needs more mines and it's people need to save their copper pennies (no joke).

]]> By: paul http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13017 paul Thu, 11 Feb 2010 05:33:04 +0000 http://moneymorning.com/?p=16854#comment-13017 Interesting, but there is an error in the 4th paragraph talking about the composition of a US penny. The penny actually contained 95% copper with 5% impurities (mostly zinc or tin) up until mid-1982. After that point, the composition was changed to 97.5% zinc with a copper plating making up the remaining 2.5%. Interesting, but there is an error in the 4th paragraph talking about the composition of a US penny. The penny actually contained 95% copper with 5% impurities (mostly zinc or tin) up until mid-1982. After that point, the composition was changed to 97.5% zinc with a copper plating making up the remaining 2.5%.

]]> By: John http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-13000 John Thu, 11 Feb 2010 01:37:26 +0000 http://moneymorning.com/?p=16854#comment-13000 Only pennies before 1982 were made mostly of copper. Form mid 1982 forward they are made of mostly zinc. So - keeping memorial pennies made from 1959 through 1982 is a wise way to hoard copper at WELL below spot price. And if something goes wrong, you can always use the pennies as pennies and get your money back. Zero risk, and good upside. PLus fun to do. I have about 1.5 tonnes of copper so far form sorting pennies. And a bucket full of wheat pennies that came in the batches too. I'm going ot keep sorting until they disappear from circulation. Then I'll sell in bulk, as I see others doing on ebay even now. Hopefully for about 4 cents per penny. NOt a bad investment, with zero risk. :-) hoard pennies. 1982 and older! Only pennies before 1982 were made mostly of copper. Form mid 1982 forward they are made of mostly zinc. So – keeping memorial pennies made from 1959 through 1982 is a wise way to hoard copper at WELL below spot price. And if something goes wrong, you can always use the pennies as pennies and get your money back. Zero risk, and good upside. PLus fun to do.

I have about 1.5 tonnes of copper so far form sorting pennies. And a bucket full of wheat pennies that came in the batches too. I'm going ot keep sorting until they disappear from circulation. Then I'll sell in bulk, as I see others doing on ebay even now. Hopefully for about 4 cents per penny. NOt a bad investment, with zero risk. :-)

hoard pennies. 1982 and older!

]]> By: R Jensen http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-12973 R Jensen Wed, 10 Feb 2010 19:52:46 +0000 http://moneymorning.com/?p=16854#comment-12973 "Copper is also used in today's currency, where most U.S. coins are actually 92% copper, and 8% nickel." And which coin is that?? "Copper is also used in today's currency, where most U.S. coins are actually 92% copper, and 8% nickel."

And which coin is that??

]]> By: rich http://moneymorning.com/2010/02/09/copper-new-gold/comment-page-1/#comment-12866 rich Tue, 09 Feb 2010 19:06:32 +0000 http://moneymorning.com/?p=16854#comment-12866 THanks for this informative piece. THanks for this informative piece.

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