[s-cars] NAC, thoughts on copper prices

[Richard Hoffman]

On a similar note: I read an article about the US Mint - one of the few 
federal agencies that turns a profit.  They determine it to be a profit if 
the cost of minting coins is less than the value of the coin.  Anyway, the 
cost of minting pennies and nickels is now higher than the value of the 
coin.  The penny costs about $0.016 to mint and the nickel about $0.055, if 
I remember correctly.

Richard
-scrap metal enthusiast :-P
----- Original Message ----- 
From: <djdawson2 at aol.com>
To: <s-car-list at audifans.com>; <urq at audifans.com>
Sent: Monday, June 05, 2006 11:13 AM
Subject: [s-cars] NAC, thoughts on copper prices


>I guess I'm a little behind... but I'm doing some remodeling on my home. 
>Off I go to Home Depot to buy a 250ft reel of 12-2 wire.  $102!?  So, I'm 
>told that copper prices have gone through the roof (probably following the 
>oil company business model).  The current price for scrap copper is now at 
>$3.72 per pound.
>
> This gets me thinking... what does 372 pennies weigh?  So, off to the 
> super accurate and recently purchased refrigerant scale.  Turns out that 
> 372 pennies weighs in at 2.1204 pounds.  In other words... 372 pennies 
> turns out to be worth $7.89 on the scrap copper market.  This is a large 
> return on investment.  Anybody want to go into the penny melting business?
>
> Dave
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