flower-shilling

Stacking Copper

Smithys Bullion - FINE GOLD AND SILVER
Dumb way to do it. Paying rent to store it and buying premium kilo bars well above scrap price. The ones who sold him the copper kilo bars are the real winners here. Better off stacking government issued coins and melting them down, or buying high grade copper scrap.

I'm not one for digital assets but I'd sooner buy shares in copper mines or buy copper ETFs before doing this. Not saying he won't profit from it, but it won't be as much as going down any of the avenues mentioned above.
 
STKR said:
Dumb way to do it. Paying rent to store it and buying premium kilo bars well above scrap price. The ones who sold him the copper kilo bars are the real winners here. Better off stacking government issued coins and melting them down, or buying high grade copper scrap.

I'm not one for digital assets but I'd sooner buy shares in copper mines or buy copper ETFs before doing this. Not saying he won't profit from it, but it won't be as much as going down any of the avenues mentioned above.
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I had a quick look at how much copper bullion bars are. There doesn't seem any way to get copper bullion bars at anything near spot price. The scrap yard pays less than $15 per kg. Bullion bars run at about $90 per kg.
 
STKR said:
Dumb way to do it. Paying rent to store it and buying premium kilo bars well above scrap price. The ones who sold him the copper kilo bars are the real winners here. Better off stacking government issued coins and melting them down, or buying high grade copper scrap.

I'm not one for digital assets but I'd sooner buy shares in copper mines or buy copper ETFs before doing this. Not saying he won't profit from it, but it won't be as much as going down any of the avenues mentioned above.
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At $6 USD a pound, he's going to need a REAL LOT to make a sizable profit.

Shares in miners would be a better deal to me.

Silver/Gold would work BETTER ! 😁

I had near $20,000 in Gold in the coin pocket of my jeans when I went to the dealer for a swap on silver at 105:1

Had to carry near 10 kg of Silver home in my Backpack :ROFLMAO:
 
Administrator said:
I had a quick look at how much copper bullion bars are. There doesn't seem any way to get copper bullion bars at anything near spot price. The scrap yard pays less than $15 per kg. Bullion bars run at about $90 per kg.
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I'm going to contact a copper scrap refinery and see if they will sell refined copper anode blocks or slugs. There'd be plenty of better ways to stack copper if someone was serious about it.
 
Administrator said:
I found a plumber who sells regularly to the metal scrap yard ($15 per kg). He'll sell his copper to me if I pay the same. I might buy some and try melting it into bars.
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I did some Brass & Copper a few yrs back.

The effort is too much & the reward is too little.

There are better ways to make some dollars $

:unsure:
 
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