Live Metal Spot Prices
Provident Metals’ spot price chart reports an accurate, current spot price for 1 pound, 2 pounds, and 10 pounds of copper. Enter a custom date range into the historical price chart to identify past trends, and use the 24 hour price chart to identify copper’s current trajectory. Copper spot price is updated in real time, so check back frequently for the accurate price of copper.
Learn about the social and political factors that affect copper spot price, and how you can use spot price to make investment decisions in the FAQ section below.
Historical Copper Spot Price Chart
Copper Bullion FAQ:
Why should I buy copper?
Copper is an industrial, base metal that is commonly used in manufacturing, and a variety of other industries. Copper is valuable in manufacturing for its intrinsic qualities- conduction, flexibility, strength, and resistance to corrosion.
Because copper is frequently used in industry, its value will fluctuate with its supply and demand. Owning copper gives you a valuable and utilitarian metal for your collection that will grow in value. Copper not only is highly useful, but the demand for copper is growing greatly while the supply is fixed, making owning copper an excellent way to add value to your assortment of metals.
Is copper a precious metal?
Copper is considered a base or industrial metal. The term "precious metal" is often reserved for the common investment metals like gold, silver, platinum, and palladium.
Learn the answers to frequently asked questions about Spot Price
What does "spot price" mean?
Spot price is the value of a raw commodity before it is fashioned into a product for sale.
What influences spot price?
A myriad of factors have the ability to alter the price of copper. While political and economic factors tend to have the greatest impact on metals, the biggest driver of spot price for copper is industry. As factory and manufacturing demand increases, the spot price of copper is likely to increase. Additionally, because mining of copper has slowed in many areas, spot price could increase.
In addition to industry and manufacturing, copper is highly utilized in the housing market. As building increases or decreases, the spot price of copper is affected due to the large amount of copper used in the production of new homes.
Why is spot price important?
Spot price determines the base price of the commodity, and will be among the most important indicators of investment risk. Additionally, knowing spot price will help consumers determine which dealers have the most competitive prices for bullion products. The difference between your purchase price and the spot price is the premium, which each individual dealer determines. By comparing the price each dealer requests, you can verify that Provident consistently offers the best deal.
What currency is spot price quoted?
Spot price applies to dealers worldwide; thus, it is quoted in many denominations. For Provident Metals customers, spot price is quoted in US dollars (USD).
How often does spot price change?
Spot price changes as often as the factors which affect it change. This means spot price is constantly fluctuating and can easily change from one moment to the next.
How do I know the spot price on my order?
Spot price may change while you are browsing providentmetals.com. When you begin the checkout process, you will arrive at a page which asks you to confirm your order, and you will be given the total price. Spot price will be locked in for 2 minutes while you confirm. If you do not confirm within 2 minutes, the price will be released to any changes in spot.
Will a changing spot price affect my order total once it's complete?
No; once you confirm your order, you will receive an email with the details of your purchase. The total price you confirmed at checkout will be reflected in the email.
How does Provident Metals determine spot price?
Spot price is determined by the Commodities Exchange (COMEX) in New York; Provident Metals does not affect the spot price of precious metals.
What unit of measurement does spot price for copper use?
Spot price uses avoirdupois ounces and pounds for copper. Most often, spot price for copper is quoted as a price for 1 avdp pound.
Learn about the copper buying process
What is "ask price?"
The amount a dealer requires to sell bullion is the "ask price." It is based off spot price; as spot price increases, ask price will also increase.
What is "bid price?"
Bid price is the price sellers will offer to purchase bullion from a dealer. The bid price is based off spot price; as spot increases, the bid price too will increase.
What is a "premium," and why do I have to pay it?
A premium is the amount added to spot price by each dealer, used to cover overhead costs. Spot price is the theoretical value of a metal; however, no one (not even dealers) can purchase a commodity at spot. The premium allows a dealer to cover overhead and continue operating.
How many grams are in an avdp ounce of copper?
1 avdp ounce of copper = 28.3495 grams
How many ounces are in a kilogram of copper?
1 kilogram of copper = 35.274 avdp ounces
When is the best time to buy copper?
As with all "investments", the best time to purchase is when you have the least risk. Watching market trends may help predict times of low or high pricing with copper bullion. Copper prices have undergone extreme price changes throughout the last 15 years; the price of copper has increased 393% since 2001.
What is the difference between a private mint and a sovereign mint?
Sovereign mints are government owned and operated and create bullion that functions as legal tender. Private mints are owned by individual businesses and create investment and collectible bullion.
What is the benefit of privately minted bullion?
Shopping privately minted bullion is advantageous because it is minted with low overhead and therefore requires less expensive premiums compared to sovereign bullion. Additionally, it is targeted at investors and collectors; as such, investors have efficient, low premium, stackable products to choose from, and collectors have unique designs and themes for a myriad of interests.
What is the benefit of sovereign bullion?
Purchasing sovereign bullion affords buyers the ability to own government backed precious metals with guaranteed weight, purity, and face value. The overhead is higher, making premiums a bit higher, but the bullion is often recognized worldwide, which adds security to your investment.
Does the face value of sovereign bullion affect its worth?
The face value of a coin determines the monetary value as legal tender; however, the intrinsic value held by bullion is based on the amount of precious metal contained in the product and the current spot price of that metal. The face value has no bearing on the intrinsic value of bullion.
Do I pay tax on physical copper?
Copper, unlike precious metals, is not classified as an investment commodity by the State of Texas. Because of this, copper is subject to state sales tax.
How should I buy copper?
Provident Metals offers several ways to purchase copper. Below are some of the options available; finding bullion in your price range is simple with our variety of options.
- Copper rounds - Copper rounds come in fractional oz, 1 oz, and 5 oz sizes for beautifully designed bullion at cost efficient pricing
- Copper bars - 1 oz, 1 lb, 2 lb, 5, lb, 10 lb, and 1 kilo copper bars give you the flexibility to decide how much you want to collect
- Copper bullets - Copper bullets are an excellent way to add copper to your metals collection. They also make the perfect gift for the military member in your life.
- Copper pennies - Copper pennies minted before 1982 contain 95% copper and offer a perfect way to collect copper. Each 95% copper penny holds a higher intrinsic value than its face value, making risk very low
Should I invest in copper pennies or copper bullion?
Copper bullion, unlike pennies, is easy to stack and offers customers efficient ways to add copper to your metals collection. Additionally, Provident offers copper bullion suited to meet the collection interests of a variety of themes.
Provident Metals sells both pre-1982 copper pennies and copper bullion to fit your needs.