melt prices (hypothetically)
Posted:
Tue May 10, 2011 9:37 pmby gojomoso
i've read a few posts/replies on here that say the price of copper will go up if the melting ban is melted, but wouldn't the sudden surplus in supply drop the price? wouldn't it be smarter to hold on to copper pennies for awhile after the ban is lifted?
Re: melt prices (hypothetically)
Posted:
Tue May 10, 2011 10:57 pmby VWBEAMER
Copper pennies are only a fraction of the amount of copper used per year. World wide demand is 15 million tons.*
it's been debated and most agree the current supply of copper pennies could be easily adsorbed without drastically reducing prices.
*
http://en.wikipedia.org/wiki/Peak_copper
Re: melt prices (hypothetically)
Posted:
Tue May 10, 2011 11:24 pmby Chief
I don't know, but I cannot wait to see melt value for the copper cents that I've hoarded. I'd really like to see a melt value of 10x or more, before considering doing that.