Thanks Realcent and its members!

Forum for discussing any topic related to investing in, collecting and saving US, Canadian, UK, and other Copper Bullion Pennies for their metal content.

Thanks Realcent and its members!

Postby Diggin4copper » Thu May 05, 2011 3:27 pm

I always knew about copper and used to save the coppers I got in change.. then around December I got serious when I found this forum and read every post and started sorting. I want to thank you guys because I decided back then to concentrate on copper and give silver a rest... I have a nice hoard of copper now and I am not fretting the implosion that is going on this week in the other metals. I am happily working the Ryedale and hoarding my pennies. I guess I diversified at the right time...so thanks! Diggin
User avatar
Diggin4copper
1000+ Penny Miser Member
 
Posts: 1374
Joined: Sun Jan 16, 2011 10:35 am
Location: Southeastern Mass

Re: Thanks Realcent and its members!

Postby TheJonasCollegeFund » Thu May 05, 2011 3:35 pm

Copper is taking the hit, too!
User avatar
TheJonasCollegeFund
Too Busy Posting to Hoard Anything Else
 
Posts: 7137
Joined: Fri Apr 04, 2008 3:00 pm
Location: HoosierLand, USA

Re: Thanks Realcent and its members!

Postby Economist » Thu May 05, 2011 8:02 pm

Copper's down around 6% or so, in the same time silver has gone down about 30%. Just sayin'.
Economist
Penny Pincher Member
 
Posts: 206
Joined: Tue Sep 28, 2010 10:36 pm
Location: Indiana

Re: Thanks Realcent and its members!

Postby Crescendo » Thu May 05, 2011 8:50 pm

Economist wrote:Copper's down around 6% or so, in the same time silver has gone down about 30%. Just sayin'.



It's all artificial shorting by the banks anyway to try to strengthen the dollar. No possible way it will stand up when people start demanding physical delivery. Just not enough supply in existence.
Crescendo
Penny Sorter Member
 
Posts: 76
Joined: Fri Jan 28, 2011 11:28 am

Re: Thanks Realcent and its members!

Postby pennypicker » Thu May 05, 2011 11:01 pm

Crescendo wrote:Just not enough supply in existence.


I just read an article stating silver refiners are turning away customers because they simply can't process all the scrap silver coming in. So I'm not sure if it's a supply problem or a problem of not enough refineries.
"If I had to pick one player to take the last shot to win the game I would pick Michael Jordan...if I had to pick one player to take the last shot to save my life I would pick Larry Bird"--PAT RILEY, L.A. Lakers Head Coach
User avatar
pennypicker
1000+ Penny Miser Member
 
Posts: 1268
Joined: Sat Nov 27, 2010 11:34 pm
Location: Victorville, CA 92395

Re: Thanks Realcent and its members!

Postby Number21 » Fri May 06, 2011 2:03 am

pennypicker wrote:
Crescendo wrote:Just not enough supply in existence.


I just read an article stating silver refiners are turning away customers because they simply can't process all the scrap silver coming in. So I'm not sure if it's a supply problem or a problem of not enough refineries.


Sounds like a short term issue. This is why I love my pennies, copper may go down in the short term but it will always be needed for life. And with the current price I'm paying for copper, it CAN crash and it doesn't matter...because it's still worth a cent! :lol:
"I wouldn't give nickel for another buck"
Number21
Penny Pincher Member
 
Posts: 150
Joined: Tue Apr 12, 2011 5:46 pm
Location: NW Oregon

Re: Thanks Realcent and its members!

Postby Crescendo » Fri May 06, 2011 9:24 pm

pennypicker wrote:
Crescendo wrote:Just not enough supply in existence.


I just read an article stating silver refiners are turning away customers because they simply can't process all the scrap silver coming in. So I'm not sure if it's a supply problem or a problem of not enough refineries.


Well there are always delays in processing silver, whether mining, manufacturing, scrapping, or whatever, so to speak. But I'm talking about the sheer quantity of contracts shorting silver out there. (as in the sold on the market contracts regarding shorting). If every single contract had to be fulfilled today, it does not seem physically possible to fulfill them if the buyers of the contracts demand physical delivery. A few of the bigger banks have been shorting silver for so long that if they can't drive the value of the dollar up, it'll be another downfall for the banks. Just speculating, but it seems pretty safe speculation.

The real issue is the dollar, not the commodities. Look at how much the dollar has lost in value since the beginning of this year. Artificially trying to drive the value up is a VERY temporary fix. IE: Probably a good time to buy silver as long as the dip is in place.
Crescendo
Penny Sorter Member
 
Posts: 76
Joined: Fri Jan 28, 2011 11:28 am


Return to Copper Penny Bullion Investing

Who is online

Users browsing this forum: No registered users and 10 guests