PDA

View Full Version : Weight that figures copper spot



hortstu
04-12-2011, 10:59 AM
OK silver I know is in troy ounces but what is copper spot measured in? I think someone said it's in Avoirdupois ounces and pounds? So that measn 28.35 g per oz and 16 oz per pound?

So then how many Cu pennies does it take to make a spot pound if you account for average wear? How many pounds are in a 25$ box if it's all copper?

Thanks

hortstu
04-12-2011, 06:45 PM
Wow,

I thought this would be the place to ask. I was searching online for the info but figured someone here would have known the answer. When I find it I guess I'll post it here.

hortstu
04-12-2011, 07:33 PM
So apparently only "precious" metals are measured in troy ounces. Base metals are measured in avoirdupois pounds. I believe that's 28.35g/ oz and 16 ounce per pound.

If anyone knows otherwise please correct me.
Thanks.

Solidus_Aurelius
04-12-2011, 08:18 PM
There's about 146 pennies to a pound...

But pre-82 pennies are only 95% copper, so when its time to melt em,
the refiner will probably want 3 rolls plus / pound.

hortstu
04-12-2011, 08:21 PM
Thanks for the response. I'm not so ambitous as to believe that I will significantly benefit from copper booming in value but I'd like to think my kid or grandkids will one day be trading pennies at 10-30x face value like silver is today.

torpedoman
04-12-2011, 09:21 PM
I think the copper price is in lbs not ozs

hortstu
04-12-2011, 11:43 PM
I think the copper price is in lbs not ozs

Your absolutely right torpedo man. But which ounces figure those pounds is my question since avoirdupois ounces are 28.35 grams and troy ounces are 31.1g and I believe a troy pound is different than an avoirdupois. I'm pretty sure that it is 28.35g/oz x 16 oz/pound.

Please let me know if anyone knows otherwise.

Deezuhl
04-13-2011, 12:08 AM
Your absolutely right torpedo man. But which ounces figure those pounds is my question since avoirdupois ounces are 28.35 grams and troy ounces are 31.1g and I believe a troy pound is different than an avoirdupois. I'm pretty sure that it is 28.35g/oz x 16 oz/pound.

Please let me know if anyone knows otherwise.

Copper is in AVDP lb im 99% sure from the research i have done..

hortstu
04-13-2011, 12:25 AM
Copper is in AVDP lb im 99% sure from the research i have done..


Thanks for the confirmation deezuhl. That's what I'm thinking.

tinhorn
04-13-2011, 07:13 AM
Nominal design weight of a copper penny per US Mint isn't 3.1. It is 3.11, which to 4 digits is exactly 1/10 troy ounce.

1 Troy Ounce = 31.10(34768) grams

They can measure it in any system they want to. Commodity copper is traded in avoirdupois, but the mint can (and apparently did) design the copper penny to weigh whatever they wanted in whatever system they wanted, and they clearly and purposefully chose it to weigh 1/10 troy ounce. That means a roll of pennies weighs 5 Troy Oz, and a box 250 Troy Oz. And interestingly enough, that also causes a nominal box of copper pennies to weigh exactly 7775 grams, a semi-round metric number, even though the piece weight is in troy oz.

Note that they chose for the new penny to weigh exactly 2.50 grams, in keeping with the nickel, dime, quarter, and half (except 40% Ag) being in the metric system of 5, 6.25, and 12.5 grams. Nominal net content box weights in grams for 1, 5, 10, 25, and 50 are 6250 (zinc), 10000, 6250, 12500, and 12500 (non 40%) grams.
http://www.realcent.org/viewtopic.php?f=7&t=3775&p=33905&hilit=avoirdupois#p33905

hortstu
04-13-2011, 10:16 AM
Thanks for that interesting info tinhorn.

Does anyone know if there is an accepted standard amount of wear on copper pennies like there is on silver? For example copper coins had 0.723 oz of silver per dollar but usually everyone just figures them at 0.715oz to account for average wear. Maybe we're a long way from that point with pennies? Maybe I'll put away a couple boxes and just weigh them before I do.

tinhorn
04-13-2011, 08:35 PM
At a certain point, you just start measuring copper coins by the pound: