hoarding scrap

[Tantalar]

I have been thinking for a bit that it may be worth hoarding copper, brass, maybe even aluminum although unlikely aluminum. I don't want to bother with hoarding steel because that seems like it would be a bit of a hassle! What do you guys think about hoarding lets say copper wire or Insulated copper wire #2? I sure as hell don't plan on hoarding my computer circuit boards!!

Does anyone do this? Scrap metal is a store of wealth if it is in the form of copper isn't it?

[hobo finds]

as the prices are so high I turn it in. Best prices I have ever gotten...

[MetalMan]

All tangible assets are true stores of wealth, some better than others. Of course all metals are stores of wealth and some argue that the industrial metals are a better store of value than gold and silver because of their real world application and because they are possibly less subject to market specualtion. That is debatable of course, with base metals generaly more sensitive to economic conditions and are not immune to speculaton as we have seen with copper in particular and with all metals in general (i.e. the rise of metal backed ETFs for one). As you are aware with your question, paper money is just worthless paper in the end and is always subject to complete devaluation, while metals will always hold some level of value. Copper, like silver has both industial and monetary roots and it's my guess will resume it's monetary status once the dollar finally implodes. Obviously from a practical standpoint, copper is a lot harder to come by than metals like aluminum (excluding the hoarding of nickels and pennies in hopes of future intrinsic market) and that's why I choose to be an urban miner of aluminum.

[theirrationalist]

All tangible assets are true stores of wealth, some better than others. Of course all metals are stores of wealth and some argue that the industrial metals are a better store of value than gold and silver because of their real world application and because they are possibly less subject to market specualtion. That is debatable of course, with base metals generaly more sensitive to economic conditions and are not immune to speculaton as we have seen with copper in particular and with all metals in general (i.e. the rise of metal backed ETFs for one). As you are aware with your question, paper money is just worthless paper in the end and is always subject to complete devaluation, while metals will always hold some level of value. Copper, like silver has both industial and monetary roots and it's my guess will resume it's monetary status once the dollar finally implodes. Obviously from a practical standpoint, copper is a lot harder to come by than metals like aluminum and that's why I choose to be an urban miner of aluminum.

All great points! I, however, feel that the best metals to invest in will be metals which have shown historical stability, and industrial necessity; like silver and gold. But even those are not always good investments. A great rule of thumb for investing: never deal in absolutes. I love metals (to death!) and think they are a great investment. Yet my entire portfolio will not be just in metals... That would be suicide. Commodities do have bubbles too, and although things like base metal don't usually burst as quickly as some other things, they still burst, and I don't want to be caught with my pant down. So, Diversification! Buy some stocks, invest in foreign bonds or currency, ect.

This is one reason I am happy to pack my shop with nickels and pennies. They are the only metal investment I know of where you can't lose money from investing; that is if you don't count inflation.

Tantalar, you have hit the nail on the head with this question. Alot of scrappers who saved up through out 2009-2010 are selling their stuff right now. These are great prices, despite claims they will get higher.

I sold about 35% of my copper hoard at $3.75 per pound, and I'm glad I did that. Prices dropped again to $3.30 at my yard, and from what I hear, they didn't make out too well from buying at that high price.

Right now, I think it is a gamble. If you don't have the money to lose, then don't invest it.
(But it is nice to have a giant mountain of copper under your roof.)