$5 per pound copper

[coppernickel]

I've been watching the price of copper climb like "the little engine that could."

When do you think it will pass $5 per pound?

That would be above the all-time high.

[coppernickel]

My guess is April 1, 2022.

[shinnosuke]

March 10th

[slvrbck]

March 7th
I’m thinking this forum is about to get busy again. Miss the good ol days.

[hobo finds]

March 15

[willy13]

For a minute it got close this morning according to KITCO.

[coppernickel]

I guessed copper would jump. Nickel is the more interesting story.

[aristobolus]

I'm back after years of not sorting! Kids are up in age, and I'm ready to beg for boxes and bags from banks. The window is closing. Have fun while you can!

[Silver4face]

I'm back after years of not sorting! Kids are up in age, and I'm ready to beg for boxes and bags from banks. The window is closing. Have fun while you can!

I KNEW IT! I just recently told people that these prices would bring people (sorters) out of the woodwork! Anyway, welcome back and good luck to you as well.

[Cu Penny Hoarder]

I'm back after years of not sorting! Kids are up in age, and I'm ready to beg for boxes and bags from banks. The window is closing. Have fun while you can!

Billions and billions more minted zincs you have to sort through now - ugh.

[shinnosuke]

I'm back after years of not sorting! Kids are up in age, and I'm ready to beg for boxes and bags from banks. The window is closing. Have fun while you can!

Billions and billions more minted zincs you have to sort through now - ugh.

However, since we’re not dumping the zincs any longer, we can take our time sorting for the copper treasure.

[Slaphot]

How long till we start hoarding Zinolns? Conflation has them over 1 cent melt currently.

https://www.coinflation.com/coins/1982-2007-Lincoln-Cent-Penny-Value.html

[Cu Penny Hoarder]

How long till we start hoarding Zinolns? Conflation has them over 1 cent melt currently.

https://www.coinflation.com/coins/1982-2007-Lincoln-Cent-Penny-Value.html

I started early last year.

Viva Gresham!

[shinnosuke]

Viva Gresham!

From Wikipedia:
Gresham was not the first to state the law which took his name. The phenomenon had been noted by Aristophanes in his play The Frogs, which dates from around the end of the 5th century BC. The referenced passage from The Frogs is as follows (usually dated at 405 BC):[5]

It has often struck our notice that the course our city runs
Is the same towards men and money. She has true and worthy sons:
She has good and ancient silver, she has good and recent gold.
These are coins untouched with alloys; everywhere their fame is told;
Not all Hellas holds their equal, not all Barbary far and near.
Gold or silver, each well minted, tested each and ringing clear.
Yet, we never use them! Others always pass from hand to hand.
Sorry brass just struck last week and branded with a wretched brand.
So with men we know for upright, blameless lives and noble names.
Trained in music and palaestra, freemen's choirs and freemen's games,
These we spurn for men of brass...

[Silver4face]

This was a hot topic in early March, but then it quickly stopped because copper leveled off and now has been trending downwards. At 4.45 a pound, we are the furthest away from $5 per pound since December or January. Unfortunately, all of the predictions in this thread were way off. Therefore, I am wondering if anyone has new predictions on this.

[Cu Penny Hoarder]

This was a hot topic in early March, but then it quickly stopped because copper leveled off and now has been trending downwards. At 4.45 a pound, we are the furthest away from $5 per pound since December or January. Unfortunately, all of the predictions in this thread were way off. Therefore, I am wondering if anyone has new predictions on this.

Hoarding Cu pennies and Ni is a l-o-n-g term investment. I've ridden it up and down and up again. Never sold any of it. Cu could possibly fall back to $1-2 dollar level. The main thing you have to take into consideration is how long will you live, because TPTB can keep this shit-show going for a very long time. I imagine some older hoarders may die with their hoards.

[realhumancopper]

In order not to "die with my hoard" , I paid a young man to take them to the Bank. I was going to pay him 10% to do the job. He was able to sell them for 10% over face, so I got my money back. Was over a ton of pennies. I'm only out the cost of 4 top of the line Ryedale's, A few hundred gallons of gas, and hundreds of hours thinking I was really on to something--while I was sorting.
I think that anyone who believes that the govt. will simply "scrap" the penny is not thinking clearly. They might retire the penny, but there will be no option to turn them in for the price of copper, minus fees of course.
Maybe if a person has a 50 year or more time frame, and can believe the US will find themselves in the position that Russia and China (and others) did, maybe the pennies will get get stamped with a "3" or something, and recirculate as being a 3 cent piece. Will be interesting to see. I won't see it. hal

[Catfish4u]

Why would anyone want to 'scrap pennies'? Pennies are the only way 'the average Joe' can easily invest in copper! Pennies will eventually carry a premium just like 90% and 40% finally has. jmho

[DC_Penny_Guy]

I think that anyone who believes that the govt. will simply "scrap" the penny is not thinking clearly. They might retire the penny, but there will be no option to turn them in for the price of copper, minus fees of course.

If the government retires the penny, then they'll also lift the prohibition on melting pennies. And if that happens, then people will be able to sell copper pennies at scrapyards, probably for something like 85%-90% of spot price (In addition to being composed of 2.5% zinc, pennies are also dirty, unlike "bare bright" copper).

[Silver4face]

Why would anyone want to 'scrap pennies'? Pennies are the only way 'the average Joe' can easily invest in copper! Pennies will eventually carry a premium just like 90% and 40% finally has. jmho

To answer your question, the purpose of scrapping pennies is for profit. As for carrying a premium, that would be very nice, BUT, how many years or even decades will that take to happen?