Why Copper Cannot Be Money!
(We are paying more for silver than ever; & Selling Platinum at 3% under spot!)
Silver Stock Report
by Jason Hommel, February 23rd, 2011
I just bought a 15 kilo copper bullion bar. It was $360. With copper at $4.32/pound, the bar is 33 pounds, and thus has $142 worth of contained copper.
Copper 1 oz. rounds would contain about 29 cents worth of copper, but cost at least 70 cents just in manufacturing costs, for a markup of 240% over spot!
So, why did I buy the 15 kilo copper bar? So I'd have a sample to show people, to show why copper is not money, of course!
The physical example of the copper bar will utterly refute the nonsense of people who claim that anything can be money, and that it makes no difference whether money is silver, gold, or copper. I'll be able to tell them to "Go ahead, put the 15 kilo bar in your pocket," or I could say, "Go ahead then, pay me a 50% premium for my silver; it's better than the copper!"
So, $360 in copper is a 15 kilo, or a 33 pound block, at 150% over spot.
About $360 in silver is 10, 1 oz. rounds, at 5.6% over, for $355.
About $360 in gold is one, 1/4 oz. gold piece, at 13% over spot, for $399.
We just raised our prices to buy silver and gold by 1/2 of 1%!
Please check www.jhmint.com for our latest prices. Most of our buy prices are now just over spot for gold, and just under spot for silver, and 4.6% over spot for Silver Eagles, any year! We also increased our cash holdings to over $200,000, to help you sell while prices are high now, if you wish.
We have 7 Johnson Matthey Platinum bars, offered at 3% under spot!