Copper isn’t just another shiny metal – it’s heavy, valuable, and everywhere. At $4-5 per pound, it’s surprisingly easy to find in discarded items people overlook. Anything with a power cord, once unscrewed and cracked open, can become an investment: microwaves, televisions, lighting fixtures – you name it.
But the appeal of copper runs deeper than it’s luster or weight. I call it the poor man’s silver. Silver, the aluminum-like cousin of gold, currently trades around $37 an ounce (as of this writing, $38) – a bargain compared to gold, but a meaningful amount, especially in this recession, still out of reach for many. When you’ve got only $50 left – the bills are paid, the tank is full, and the groceries are done – investing in precious metals rarely tops the list. A night out or a new gadget feels more tempting and is only one click away on Amazon.
Here’s the thing: after an hour of scrapping for copper, that $50 is still sitting in the account, ready for allocation elsewhere. The investment came not from dipping into savings, but from reclaiming value that others tossed out. To many, “time is money” a mantra to live by; so, nothing is truly free. But if DIY brings you joy, don’t let someone else’s definition of time well spent get in the way. Except mine, of course.
Copper is near “bottom of the barrel” compared to gold or silver, but it’s also the next best deal, and it’s outside the formal market. Scrap copper – especially from power cords and other clean sources – often retains high purity, without the Everest-steep, criminally high premiums that come with bullion. Bullion copper is poured, stamped, and sold at inflated prices, with premiums ranging from 100% to 600% over melt value. A copper round might sell for over a dollar while its melt value is under 50 cents.
As an investment, bullion copper doesn’t make sense. As a collectible? Absolutely. As scrap? Even better! Copper is everywhere, and the market is full of opportunities for those willing to seize them.