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I have read it a few times about people talking about selling their Cu and buying Ag so trying to trade "up". For anyone who would do this, can I ask why? Is it convenience of storage or is Ag more glamourous? Wanted to see if Im missing something. I just think Cu has a lot of upside, so was wondering if those people who would do this , believe Ag has more upside. Lets hear your thoughts

When you can get copper pennies at face and sell $100 for $180 you can turn around and buy 6 ounces of silver with the money. This way you are buying silver for 16.67 an ounce. Not counting the time, effort, gas etc.

It is also easier to store, carry and sell 6 ozs of silver. Try to sell 68 lbs of pennies to a coin dealer or pawn shop. Not smart to sell silver to these guys either, but if you need FRN's fast, the silver is easy to sell.

i think silver will outpace copper. silver is also much more liquid and portable.

there is a lot of merit to booking a profit. if you can buy copper at 1X and trade for silver at more than 1X, you make a profit and increase liquidity.

the upside i think you are referring to is when pennies go from their current price to say 85% of the melt price (sterling silver sells for about 85% of melt). so copper cents will go from say 1.4X o 2.1X when the melt ban is lifted without even a rise in the copper price.

if copper doubles from here, silver likely will quadruple.

Lemon Thrower wrote:i think silver will outpace copper. silver is also much more liquid and portable.

there is a lot of merit to booking a profit. if you can buy copper at 1X and trade for silver at more than 1X, you make a profit and increase liquidity.
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the upside i think you are referring to is when pennies go from their current price to say 85% of the melt price (sterling silver sells for about 85% of melt). so copper cents will go from say 1.4X o 2.1X when the melt ban is lifted without even a rise in the copper price.

if copper doubles from here, silver likely will quadruple

This statement explains it to me.

Slick, how are you getting 1.8x face for copper cents?

Corsair wrote:Slick, how are you getting 1.8x face for copper cents?

ok , I may have exaggerated a bit to make a point. Usually end up with about 1.6 to 1.7. Depends on the amount sold and if it is through fee bay or not.

Its no different than trading 100 oz bar of silver for 2 0z of gold like you said trading "up" thats what it is. Until cu trades in oz instead of lb it will be a second choice dont get me wrong i love cu cents but as others have said when u can sell cu and buy ag for less than cost out of pocket why not do it and lets not forget u can fit 10k of silver in your pockets can u even carry 10k in cu what if tshtf what would you do with all those pennies? id rather grab a backpack than a dump truck!!!

jasmatk wrote:Its no different than trading 100 oz bar of silver for 2 0z of gold like you said trading "up" thats what it is. Until cu trades in oz instead of lb it will be a second choice dont get me wrong i love cu cents but as others have said when u can sell cu and buy ag for less than cost out of pocket why not do it and lets not forget u can fit 10k of silver in your pockets can u even carry 10k in cu what if tshtf what would you do with all those pennies? id rather grab a backpack than a dump truck!!!

The backpack is a little more believable than the pockets. 37 10 ounce bars is a lot of bars to carry in your pockets unless you have on a BIG coat too.

Or just carry carry 8 ozs of Gold

Being able to just grab and go does have its advantages. On the other hand, if your home is robbed, can someone take 3+ tons of pennies easily?

I like the best of both worlds. Nobody is going to grab a few tons and run off with it. In the past.. when copper was higher, and silver and gold were much cheaper.. I converted a few tons of copper into silver and gold. Part of the reason was diversification. The other part was I thought Silver and Gold were extremely underpriced at the time.

looks like you were correct hoard. I was actually thinking of giving up some silver for CU

misteroman wrote:looks like you were correct hoard. I was actually thinking of giving up some silver for CU

Has anyone else been considering this? Or giving priority to obtaining Cu before any other metal?

I think CU will out preform Silver in the next yr. $4-$5 is 25% I don't think silver will hit 33 in the next yr

Silver and copper are both industrial/commodity metals, but silver has a quasi-monetary angle. It used to be money and it still considered money by some people. It is like gold's little brother. Hence, while copper ebbs and flows with industrial demand, silver gains investment demand when inflation hits in a way that copper doesn't.