Here is a comparison of the densities of copper, silver, and gold. Guests probably wouldn’t be interested in a regular copper bar unless it is particularly large or has an especially intricate design. Of course, the con here is that copper is not as attractive. If a thief mistook your copper for a more valuable metal you would be out very little money compared to the risk of displaying gold and silver. You can leave a 10 oz bar of copper out as decoration and know that you spent less than $15 on it. If you like to touch your metal, copper is not a good precious metal for handling.Ĭopper can be better for displaying because it is less valuable. What I did not account for was the infamous copper smell.Ĭopper has a very distinct scent that sticks to hands easily. I was excited when I bought my first copper round to have a dense piece of metal to twiddle around my hands as I sat at my desk. Keep in mind that copper can tarnish faster and has less shine than silver and gold. It is certainly cheaper to spend a few dollars on copper rounds to look at designs than to buy silver rounds and decide you don’t like them. If you are interested in buying an expensive silver or gold round, but aren’t sure about how the design will look in person, buying a copper round may be a good way to test how you feel about the design. If copper had the same relative premiums as gold, an ounce of copper would cost about 26 cents! That means you are paying 5.6x more per ounce!Ĭompare that to gold, which currently has a premium of about 10% per ounce. The actual spot price of copper is 23 cents. The cheapest copper rounds are currently trading for about $1.29 an ounce. Here are the pros and cons of purchasing copper.įor the current price of gold at $1,815 an ounce, for one troy ounce of gold, you could buy about 1,406 troy ounces of copper bullion. In order to make a profit, you would need a large enough copper shortage for the copper price to rise past the premium you paid and net a profit. Buying copper is very speculative, if you are buying rounds of copper, you are paying almost double the spot price for each troy ounce of copper. Is copper a good long term purchase? Probably not. With all that should you be purchasing silver? It is worth only a fraction of the value of gold and silver by weight and has high premiums. As far as precious metals go, copper is one of the least sought after.
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