I thought it was interesting to note the almost direct correlation between the two prices... Sorry to have made a dumb thread... I'll stick to your preferred 'Silver will reach a gazillion dollars tommorow' threads?
Weren't there rumors a few years ago about a potential shortage of copper for wiring and stuff? Wonder what happened with that because it would make an interesting case study to compare 'silver shortage' and 'copper shortage' and see the outcomes!
Of all the copper rounds available, I think I like these most of all >> http://www.ebay.com.au/itm/LOT-5-X-...423?pt=LH_DefaultDomain_0&hash=item1e63acf20f (got a coupla tubes coming from the US of A, should have 'em in the next day or 3..
Fishball - think this had to do with China and India lower class all wanting to move up into middle class. Meaning more homes (Electrical,data,etc wiring) and Electronics,White goods,etc By Grinners chart on the first post,looks like the run since the GFC has been pretty impressive... Think this is a good thread to look at other commodies and compare inflation increases of other base metals. Lastly we can all invest in copper/nickel by keeping 5c to 50c coins - legal tender and the melt value is pretty close to face...
Apologies there - didnt mean it to sound like it came out. just meant that copper is a finite resource and as such will always appreciate relative to fiat - whose intrinsic value is 0. However, it is not a precious metal like gold or silver and probably will never serve that same purpose as money which gold and silver always have and always will serve - despite the desperate attempts of corrupt western governments and criminal banking elite. By the way - any idea how may Zim dollars it takes to buy an ounce of silver??? Well, thats how many US dollars it will take in the not too distant future. Not sure if its a gazillion mate, but it will be a lot.
I think it would take an infinite amount of Zim dollars to buy anything. I read they were withdrawn, so unless someone's out of Weimar Marks to stoke their fires, and there's no other paper in the world, there isn't much of a market for them.... Except if you're a sociology or economics teacher and need a prop for a discussion in class. They sell Zim 100 trillion notes on eBay for a dollar. I guess spot is 3.287 quadrillion Zims today?
Ag-ness - Your correct - When Zimabwe dollar was in existance,it couldn't be converted to $US to buy Gold due to the massive Hyperinflation... Amazingly now Zimbabwe are looking at a Gold backed currency and warning the world of the US Dollar! http://goldnews.bullionvault.com/Zimbabwe_dollar_051620116
I haven't heard anyone talk about investment copper in a useful form. To me, copper bullion is a little silly except as a novelty. I love the color of shiny copper as much as I do silver and gold. But silver and gold are money metals. Copper is too, to an extent. If you really want to stack copper in a useful and valuable form, buy rolls of assorted gauges of copper wire and stack it under the workbench or the broom closet in the garage. If you're going to pay twice the bullion value of copper, why on earth would you buy 1kg bars when, for roughly the same price (possibly a bit more), you could buy copper in its most useful form - wire. The next best thing would be copper sheet metal. That stacks even better and depending on how you store it virtually takes up no space. I'm not being sarcastic, I'm being serious. Copper in bullion form I just don't see that as practical as with gold and silver.
Copper may not be precious, but it has served as money extremely well in the past. The SHTF proponents believe it will again. If silver is highly valued, a lower priced currency metal may well be called upon again to fill that gap. On another note, I was looking through the local gumtree adds and saw a 37kg plate/block of copper for sale by a local guy -$550 I think. He also had "native copper'. It was there along with the bargain coffee machine that had a wonderful ''froffa, for excellent froffing" and a "rot iron bed". It took me a while to figure out the second one!
Hmm copper... Just put an ad in the paper saying 'will collect and dispose of your old hot water tank for FREE!' Three or four a year will keep you occupied on those cold, lonely nights when you can't afford to buy any more silver. Plus, there is enough in them to make a buck if you can be bothered.... something like $9k per tonne or whatever.... Kids, your pocket money awaits you! Engage tin snips!
lol - yeh well they may be dumb but at least they learn from their mistakes. The rest of the world seem to be too stupid to have learned from the mistakes of the past... The current financial system has to be the biggest scam ever pulled in history. cant wait for it to collapse in a rotten heap.
Copper has never been true money like gold and silver has. it has been used as a fiat representation of money - much like paper has - so its only ever been used as currency. The irony though is that most currencies have devalued so much (eg the Ozzie dollar has already lost something like 90% of its value) that the copper coins are now worth much more because of the copper metal value than what the face value of the coins are. but it still will never be real money.
I think I got ripped. Bought 10x 100 trillion Zimbabwe dollars a few years ago, was like $20 on ebay shipped, pretty cool to look at, but man its worthless.
Haven't got too much time to go into it now, perhaps someone else has.... with more detail (as a result of more knowledge) than my limited info below. But, I believe the Romans used copper as currency, in lumps, before making coins out of it. And, Sweden had a Copper Standard that they wrecked and then introduced a silver standard after as a result - all way back when .... There was also the Copper Riot in Russia in the 1600's sometime, due to their idea of overloading the country with copper (which they used as currency or basically money for them) which devalued the value of copper. Wonder if the Fed has hear about that! The US didn't introduce paper as money or fiat until much later 1862 or something although China dabbled in fiat, as such, very much earlier. So in terms of being used as money, determined by its actual commodity value, copper has been there and done that - a very long time ago. But, even after silver and gold became acceptable as currency, the poorer folks still used copper I think for their own trading until brass coins became more utilised. It was not until much later that copper and silver were used in coins that were smaller denominations of the fiat currencies introduced in various places. And also, of course, as noted the amount of each metal was lowered as they came to represent more than the actual face value. More info (and/or accuracy) welcome to add on to my brief points.
During the 20th century, after all currencies went fiat (1971), copper was used to replace silver coins simply because copper has a much much lower intrinsic value, and people were melting down the silver as it was worth more than the face value. this is a natural progression for fiat, where the value is not based on intrinsic value, but rather by some BS government decree.
If I was to invest in copper it would be through obtaining industrial copper, like big beams or something....certainly not expensive copper bullion
