Monday, November 19, 2007

Copper holding steady

Well, it appears that the price of nickel and zinc have fallen over the last few months. A nickel is still worth about 6.5 cents but a zinc penny is now only worth .65 cents. Earlier this year, the zinc penny was worth more than one cent for a while. With that said, the copper cents are holding their value. They are still worth around 2 cents a piece, double their face value. I believe that next spring we will see another hike in coppe prices just as we did last spring. Since the copper prices will already be starting higher, I believe we will see the copper cents being worth at least 3 cents each next summer. I believe it is smart to keep hoarding the copper now and I would also recommend hoarding the nickels as well. After they change the composition of the nickel in 2009 it will be harder to hoard. What better time than now when you don't even have to sort them.