Copper ingot and Copper coins

[bmsm]

While attending an antique show called the "Gold Rush" at Rochester,MN this weekend, I came across something new in the area of coins and ingots.

First is a one pound (16 ounce) ingot of .9995 Fine copper with a design on the obverse side. The design is of the Morgan Silver Dollar.

The two sides are rounded and the ends cut flat.

Bob

[Laurence Strong]

Interesting. Did you buy them?

Larry

[bmsm]

These are a 1, 1/2 and 1/4 ounce .999 Fine Copper "coin" with the design of the $5.00 Indian Head Gold piece on the obverse and reverse.

They are slightly larger than our Silver dollar, Half Dollar and Quarter. They all have reeded edges.

Bob

[bmsm]

Larry,

Yes, I did. I purchased one of each just because of the novelty of them.

Bob

Interesting. Did you buy them?

Larry

[Laurence Strong]

I really like the coins

Thanks for sharing

Larry

[bmsm]

Larry,

The dealer had all different styles of the 1, 1/2, and 1/4 ounce coins but I favored this one.

Glad you liked the pictures. You never know what you will find at a antique show.

Bob

I really like the coins

Thanks for sharing

Larry

[Mervyn Mitton]

Bob - what an unusual find. Do you think these are modern copies - or, originals ? Would the coins have been able to be used for

commerce ? The 1 lb. ingot - I can't think of why you would want an ingot of copper. Perhaps for carrying if you were plumber ?

Perhaps it was an investment - I know copper used to be quite valuable - did you have to pay a lot for these ? Mervyn

[bmsm]

Mervyn,

Good to hear from you!!

I bought the copper ingot and rounds just for the heck of it. After I got home, I did more research on them and found out that some people are collecting them just like silver. I am attaching a web site that sells them just like pecious metals.

https://www.mintproducts.com/copper-bars-and-rounds/

The pound ingot cost me $12.50, 1 ounce $2.25, 1/2 ounce $1.75 and the 1/4 ounce $1.75 all in U.S. Dollars. The biggest cost is the design setup. Since I bought them thru a dealer, he has his markup. The dealer also said he had a 10 pound copper ingot at home.

In 1982 the US One cent (penny) went from the 95 per cent copper to 99.2 per cent Zinc and .8 per cent copper. The government also put restrictions on exporting or melting of cents in 2006. As of 2012, it cost $2.41 cents to make a penny so now many are starting to "put away" or "hoard " the pre 1982 cents so if the government ever drops the restriction or eliminates the cents they can melt them down and make money on them. Do a Google Search on hoarding of pennies and you will find all kinds of information.

Bob

.

Bob - what an unusual find. Do you think these are modern copies - or, originals ? Would the coins have been able to be used for

commerce ? The 1 lb. ingot - I can't think of why you would want an ingot of copper. Perhaps for carrying if you were plumber ?

Perhaps it was an investment - I know copper used to be quite valuable - did you have to pay a lot for these ? Mervyn

Edited May 18, 2013 by bmsm

[Mervyn Mitton]

Hi - Bob. So, $2.25 per oz. ( 1 oz. = 5.5 gms). Scrap value of silver (it has just dropped) is approx. 4.5Rands per gram. 32 grams to 1oz =

144 rands. The $ stands at 9.3 to the Rand = 15.4 $'s

This still puts silver way ahead as an investment - but, who knows what will happen in the future. I would say a good investment for about 5 lbs.

What other metals do they have for this kind of collecting ? Mervyn