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anyone check coinflation today? copper as low as Ive seen for awhile. 2.18 metal value per penny. nickel is under melt.

Yes?

Maine lobster is going for $1.25/pound now too. But I think I'd still rather have the pennies.

ZenOps wrote:Yes?

Maine lobster is going for $1.25/pound now too. But I think I'd still rather have the pennies.

Mmm... lobster. You must really like pennies...

Deflation, why the government keeps dropping interest rate to battle against.

It's normal, mining goes in ten year cycles, as does industry in general, some years after they fight it, inflation comes as it is, unfortunately U.S. policy, be patient.

Cheaper metal is crucial to further expansion, although the booms and busts could wear a person down.

The lobster prices are not related to inflation/deflation/the economy. They just had a monster harvest this year and the market is flooded with crustaceans. Back when I was a free man before having kids, I caught a hefty amount of my own lobsters and now I just refuse to pay for any, even at these prices. Just give me some haddock or halibut or salmon, thank you. If you cook the lobsters in fresh ocean water right after you pluck them out of the traps, you don't even need butter on them they are so delicious. I was a spoiled man.

Whoohooo.. if copper keeps going down, pretty soon you will be able to sell your copper pennies above melt.. like a few years ago. And here there were folks that said we would never be able to sell our copper pennies at melt.

Maine lobstahs $1.25 per pound???!!!! I might need to cash in some coppah. Maine lobstahs...can't get theah from heah...

I'm heading to Maine in two weeks to climb mt. Katahdin I'm definitly taking a cooler and picking up some lobster.

I WANT TO GO TO MAINE SO MUCH NOW!

And, um, yeah, copper, hope the price goes back up...

glad to start a thread for all you lobster lovers out there..what a hungry bunch!

Did someone mention lobster?

Maybe we will see a coin with a lobster design on it

lobstrocities! Ive hated lobster since they took rolands fingers....

the real question is, will most keep stacking coppers if the bottom falls out? I think I will continue to sort and stack them until the supply gets too thin or the government pulls them. I would still much rather have a coin than a fiat dollar.

I will still keep all my coppers regardless of how low the price goes. I have time to wait out any dip. As long as the two term limit stays in tact anyway.

And just as a hedge, I'm gonna go look into buying michelle2016.com

NHsorter wrote:And just as a hedge, I'm gonna go look into buying michelle2016.com

NHsorter wrote:I will still keep all my coppers regardless of how low the price goes. I have time to wait out any dip. As long as the two term limit stays in tact anyway.

Of course Ill keep mine also. Its just a different game than say, silver. AG price is low, so I buy. pulling copper only works out on the price. Lets just hope some enviromentist group succeeds in banning copper mining!

When silver was much higher, I could easily win "junk" silver auctions at or below melt value (that was including shipping) on eBay. Since the pullback, all the auctions seem to go for well above melt value. My guess is that even if melt value for coppers dropped below face value, they would still sell for between .011 and .015 each.

Derek.Sheriff wrote:My guess is that even if melt value for coppers dropped below face value

Could that realistically happen?

JP Morgan and two other companies intend to offer exchange-traded funds (ETFs) in physical copper. One is already doing so. JPMorgan's offering calls for the removal of more than 30 percent of available world supplies. You know what happens when speculators start screwing up the natural order of things. This might not be good for guys like me who sort to sell, but it seems like an excellent time to hoard.

"'You've got a 17 million-ton market which is theoretically short by 500,000 ton deficit. So if you take metal out of that market and put it in a box, that makes it more difficult to operate,' a person familiar with the matter said." http://www.reuters.com/article/2012/05/24/jpm-copper-etf-idUSL1E8GO00620120524

Heh--not if you're the guy with the box of copper.

http://www.marketwatch.com/story/copper ... 2012-05-23
http://www.bloomberg.com/news/2012-07-1 ... ptive.html
http://www.bloomberg.com/news/2012-05-2 ... roups.html