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:
 
SKULL said:
Yeah, but the volume needed is against Physical :unsure:
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If you can find a few plumbers they often collect it from jobs where they replace it with plastic pipes. One told me they only get $9 per kg at the scrap yard, and his last trip was for 160kg. Copper water pipes are 99.9% copper.
 
I'm looking at getting some copper exposure for my super fund.

These are the companies / funds I can invest in.

Sandfire Resources Ltd (ASX:SFR)
Global X Copper Miners ETF (ASX:WIRE)
Aeris Resources Ltd (ASX:AIS)
29Metals Ltd (ASX:29M)
Hillgrove Resources Ltd (ASX:HGO)

Does anyone know much about any of these?
 
Administrator said:
I'm looking at getting some copper exposure for my super fund.

These are the companies / funds I can invest in.

Sandfire Resources Ltd (ASX:SFR)
Global X Copper Miners ETF (ASX:WIRE)
Aeris Resources Ltd (ASX:AIS)
29Metals Ltd (ASX:29M)
Hillgrove Resources Ltd (ASX:HGO)

Does anyone know much about any of these?
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Not my thing anymore. I was about to be 58 yrs in 2020. So in January I withdrew from the Markets & went to Gold/Silver.

Turned out to be a good move. I have some term deposit & Bonus Saving account for cash.

I'm now about to be 64 yrs, so can't afford a lose playing the markets. I lose that takes years to recover from could cripple me if I went seriously back into the markets 😞
 
Administrator said:
I'm looking at getting some copper exposure for my super fund.

These are the companies / funds I can invest in.

Sandfire Resources Ltd (ASX:SFR)
Global X Copper Miners ETF (ASX:WIRE)
Aeris Resources Ltd (ASX:AIS)
29Metals Ltd (ASX:29M)
Hillgrove Resources Ltd (ASX:HGO)

Does anyone know much about any of these?
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I believe they're all paying little or no dividend. I own BHP who are paying a fully franked 3.5% dividend. :)
 
GoldenEye said:
I believe they're all paying little or no dividend. I own BHP who are paying a fully franked 3.5% dividend. :)
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I'm not sure, but I do think BHP has some significant plays in the Copper area.

Maybe the Copper & Gold assets of BHP will make up for the expected downturn in the price of Iron Ore ?

But BHP is well diversified, so if Base Metals are expected to rise into the future, BHP is a solid portfolio asset.
 
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