by Recyclersteve » Fri May 25, 2018 12:19 am
Why not find copper for free instead of buying it at face value? I'm referring to scraps that people leave sitting by the curb or that companies throw out in their dumpsters. Specifically, I am referring to copper wiring, piping, yokes from TV sets, motors, transformers, etc. Some of the wiring can be stripped to make bare bright copper which can be sold right now for about $2.30-$2.40/lb. The insulated copper wiring currently pays about 30-50 cents a pound, because it weighs a lot more. You get paid by weight, and in the case of insulated wire, the copper is often only a small percentage of the total weight. Also, insulated wire needs to be stripped to get at the copper, which can be quite a job for some types of copper. At least you don't have to worry about melting this form of copper down, like you would with coins.
No matter what form you acquire copper in, it does take up a lot of space. So that is a potential issue whether you are talking about copper Lincolns stored in 5 gallon buckets or copper wire stored outdoors or in a garage/shed.
Admittedly the copper you find outdoors is likely going to be messier to go through than rolls of cents obtained from a bank, although they can be messy (with random sticky substances, etc. on them).
Another factor is that some people don't want to be seen scavenging. Truthfully, they might get embarrassed. It is probably somewhat like reaching into a Coinstar machine to pull out a single penny.
There are tons of videos on YouTube about scrapping. You are doing something good for the environment and helping to keep someone at the scrap yard employed that might otherwise have a tough time finding a job. You get a bit of exercise as well, so that can be a side benefit.
Another side benefit is that you may find some aluminum, brass, stainless steel and steel out there as well. Again, for free.
Furthermore, you might find something that can be used by you or taken to Goodwill. Just tonight I found a perfectly good office chair in a dumpster and promptly took it to Goodwill. It had a little bit of tape on the right armrest but worked just fine. It is a real shame that some people throw decent things into the trash without even thinking.
So what is it that keeps you from picking up copper sitting out there for free?
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.