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Hi I was wondering if I should sell my copper and buy some silver while it is cheaper? I am thinking about it because I really don't want 2 pass this chance at adding more silver. What is your guys take? Thanks

chris819 wrote:Hi I was wondering if I should sell my copper and buy some silver while it is cheaper? I am thinking about it because I really don't want 2 pass this chance at adding more silver. What is your guys take? Thanks

Copper chops, blocks, ingots, or coins in circulation? If former, consider that they are both industrial metals. If the latter, it is a rare form of free arbitrage. Selling would compromise that.

Cheers!

if the margins dont kill you i say go for it

Thanks for the input. Yes it would be copper pennies.

Yes, you definitely should.. if you can.

Chris,

Don't give in just yet...

Save your copper, for "copper is the poor mans silver" and "copper is the silver of the 21st century".

In 1964, if you told someone you were saving your silver halves, quarters and dimes etc., they would have called you crazy. "Why on earth would you want to save silver when you could just go down to any bank and get it at face value", is what they would have told you. Those that held onto their face value bought coins for 20 years sure did make the right decision. (as we now know today)

Its all about having a crystal ball. If you don't have one, consider looking at history as an indication.

Copper pennies have been out of manufacture now for 31 years or so. (yes there are still many around for that long of a time period but that is because the US never decided to cease manufacture of the penny, collect it and mutilate it back for its raw material.)

When they do, your grandchildren will be wishing that they had a time machine to go back to the 1980s to buy unlimited boxes of Cu pennies at face value. (just as we wish we could go back to the early 1960s to buy up face value Ag.)

You have to read the hand writing on the wall and figure that the Mint will ultimately remove this piece of currency soon enough. The gamble lies in what research you have done and when you believe the hammer will fall. When that currency is removed, do you hope for numi value of your old copper or do you hope of melt bans to be lifted? If you hope for the latter, then you are most likely in this for the short term gain which positively shows your commitment to this investment. Given such, it probably wouldn't matter to you mentally or emotionally one way or the other if you had silver or copper. You're just trying to go for the quick buck. If you hope for the former, then you are in the game long run and are probably interested in passing this stack to children or grandchildren etc. which is probably more realistic if you hope to see real value of copper in long term.

The fact of the matter is, don't be fooled by the recent decreasing price of silver. It sounds like you probably don't have an extraordinary large stack of silver. If this is the case, don't rush out to sell all of your other long term metal in hopes to acquire PM as the price goes down. Investing 101, don't buy as the price goes down - buy as the price hits bottom. We are far from seeing bottom prices on AU and AG brother.

Perhaps more simply put, should you decide to sell off your Cu before 2015, I call first dibs...

I would not buy any silver right now. members on here have been saying that "the bottom is near" all the way down. I don't see silver shooting back up until the next recession. just my 2 cents

You're right. Silver might drop another 60% from here. But if you think you can call this bottom and then "back up the truck" at $8.00/oz you are fooling yourself. When the psychology finally turns for PMs and the dollar it will happen too fast for any of us to react. Many of us wish we had saved more money to take advantage of today's prices, but people forget how close we've been to going over the edge over the last four years and how things could be very different right now.

The bottom line is our financial system is broken and price discovery is a bad joke and if you don't believe that then you should not have invested in PMs in first place.

Cost average!
Sell "X" of Cu and buy "Y" Ag weekly.

I doubt if you'll be disappointed 3 to 5 years from now.

#1 rule keep stacking (something).

Thanks everyone for the input. I think I might just hold onto the copper pennies that I have.

theo wrote:You're right. Silver might drop another 60% from here. But if you think you can call this bottom and then "back up the truck" at $8.00/oz you are fooling yourself.

I don't know that this conventional wisdom applies any longer. After witnessing silver rising all the way to $49, who would have thought we'd experience $18.something again? I bought some 90% a few days ago at $14.20 FV. I would have been laughed off realcent if I had suggested that price would be possible two years ago...perhaps even tarred and feathered. I'm certainly not saying that I ever predicted these current prices (wished for? YES!). I am as surprised as anyone else. However, who knows what will motivate the weak hands if silver goes to $8.

Here we are experiencing cheap (relatively) silver and as barrytrot asked: Are you all in? (This is a question for everyone on the forum, not just Theo.)

If not, why not? Waiting for $12/oz?