Classact
02-19-2008, 11:28 AM
I've been watching metal prices on CNBC for a while now and they are going strait up in price... Gold, Silver, Platinum and Copper... I'm not really sure why the prices are spiking but I did notice that the key medals were dropping when everyone was talking about recession.
Anyway, the reason I brought it up is to bring it to your attention as a way of making money. Brass also is at its highest price and all of these metals are common across America and are often overlooked for their value. For example all old faucets are made of brass and may be worth more as scrap than they were when purchased... often people look at a delta faucet and see chrome and think it is iron with a chrome electroplate but it is in fact brass... I was at the recycle site talking to the guy about how prices were going up and I mentioned to him that he should put some copper and brass off to the side and hold it... he laughed and said he has a secret lot where he is stockpiling his copper and brass and only sells enough to cover his purchase price...
If I were in the US I would go to farm auctions or even old farm homes with sheds looking for some antique engines... many old farmhouse washing machines had gas engines and some of these engines have solid brass flywheels mounted externally that are often painted looking like a pile of rust in the corner of a shed... even old tools have large quantities of brass because it was easy to work with... some of these finds could be worth hundreds of dollars and could be for the taking of an outlay of only a couple of dollars. Think if copper is bid at $3.70 a pound today means brass is at least that price as scrap... If you collect these metals and hold them they could gain over 10% in value every year... copper was less than $2.55 this time last year.
Anyway, the reason I brought it up is to bring it to your attention as a way of making money. Brass also is at its highest price and all of these metals are common across America and are often overlooked for their value. For example all old faucets are made of brass and may be worth more as scrap than they were when purchased... often people look at a delta faucet and see chrome and think it is iron with a chrome electroplate but it is in fact brass... I was at the recycle site talking to the guy about how prices were going up and I mentioned to him that he should put some copper and brass off to the side and hold it... he laughed and said he has a secret lot where he is stockpiling his copper and brass and only sells enough to cover his purchase price...
If I were in the US I would go to farm auctions or even old farm homes with sheds looking for some antique engines... many old farmhouse washing machines had gas engines and some of these engines have solid brass flywheels mounted externally that are often painted looking like a pile of rust in the corner of a shed... even old tools have large quantities of brass because it was easy to work with... some of these finds could be worth hundreds of dollars and could be for the taking of an outlay of only a couple of dollars. Think if copper is bid at $3.70 a pound today means brass is at least that price as scrap... If you collect these metals and hold them they could gain over 10% in value every year... copper was less than $2.55 this time last year.