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Doctor John wrote:
> Yup, sure is. Lots of traders doing it in banks all over the City.
> However, more money can be made from Futures and spread betting.
>
> John
Forgot to mention arbitrage as well
John
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scott <sco### [at] scott com> wrote:
> Did you know, that if you had a ton of old 2 pence pieces (worth 2800
> pounds), you could melt them down and sell the ton of copper for the going
> price of 4300 pounds.
Do you have any reference for this?
Some info about the equivalent situation in the US:
http://www.snopes.com/business/money/pennycost.asp
--
- Warp
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>> Did you know, that if you had a ton of old 2 pence pieces (worth 2800
>> pounds), you could melt them down and sell the ton of copper for the
>> going
>> price of 4300 pounds.
>
> Do you have any reference for this?
I googled the weight of a 2p coin, then googled the current copper prices,
and did the sums. But as already pointed out, recent coins in the UK are
actually made from copper plated steel, which I assume is worth considerably
less.
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scott wrote:
> I googled the weight of a 2p coin, then googled the current copper
> prices, and did the sums.
Funny enough, when the patent on fiber optics ran out a few decades ago,
the telcos looked at what they had and realized they could dig up all
the copper, replace it with fiber, and do it all "for free" by selling
the copper on the commodities market.
What they failed to appreciate is that the telcos were the single
largest consumer of copper, so when they stopped buying and started
selling, the price of copper went way down.
--
Darren New / San Diego, CA, USA (PST)
Helpful housekeeping hints:
Check your feather pillows for holes
before putting them in the washing machine.
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"Warp" <war### [at] tagpovrayorg> wrote in message
news:48737d11@news.povray.org...
> Some info about the equivalent situation in the US:
> http://www.snopes.com/business/money/pennycost.asp
Fine up until the last part, but they engage in some utterly nonsensical
economics of value and cost when they start "dividing" cost by the number of
exchanges.
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somebody wrote:
> Fine up until the last part, but they engage in some utterly nonsensical
> economics of value and cost when they start "dividing" cost by the number of
> exchanges.
Most fiat economomics is nonsensical. Given that, they're basically
saying that the utility of the penny is greater than its face value. In
other words, the government spends $1.20 to put $1.00 worth of pennies
into circulation. They also spend more than a dollar to put a dollar
bill into circulation. And they also reduce the value of the pennies and
dollars already in circulation when they create more of them. So trying
to figure out what a penny "costs" is kind of pointless to start with,
unless you start counting inflation into it.
--
Darren New / San Diego, CA, USA (PST)
Helpful housekeeping hints:
Check your feather pillows for holes
before putting them in the washing machine.
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On Tue, 08 Jul 2008 15:11:21 +0100, Invisible wrote:
>>> I often wondered... If you were to convert GBP to DNF to USD to CHF to
>>> EUR back to GBP... or something similar... could you end up with
>>> (significantly) more than you started with? I mean, is there some
>>> obscure sequence of currency exchanges where you end up with more than
>>> you stared with?
>>
>> Dunno, write a Haskell program to parse some currency website and find
>> out!
>
> Heh. Don't tempt me with such things! ;-)
xe.com is a pretty good reference. ;-)
Jim
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"St." <dot### [at] dotcom> wrote in message news:48736dbd$1@news.povray.org...
> No, they are in fact mild steel, or at least some kind of ferrous alloy.
> Hold a magnet to a newish copper coin. I say copper because they're
> actually copper plated. They started doing this (in the UK), about 8 years
> ago I think.
Actually, I should add to that, that 'copper' coins were never pure copper
anyway. I think they were always alloyed with some other metal like nickel
or bronze.
~Steve~
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Darren New wrote:
> Funny enough, when the patent on fiber optics ran out a few decades ago,
> the telcos looked at what they had and realized they could dig up all
> the copper, replace it with fiber, and do it all "for free" by selling
> the copper on the commodities market.
>
> What they failed to appreciate is that the telcos were the single
> largest consumer of copper, so when they stopped buying and started
> selling, the price of copper went way down.
EPIC PHAIL.
--
http://blog.orphi.me.uk/
http://www.zazzle.com/MathematicalOrchid*
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And lo on Tue, 08 Jul 2008 14:43:43 +0100, scott <sco### [at] scottcom> did
spake, saying:
>>> Although... the coins aren't pure copper, are they?
>>
>> No, they are in fact mild steel, or at least some kind of ferrous
>> alloy. Hold a magnet to a newish copper coin. I say copper because
>> they're actually copper plated. They started doing this (in the UK),
>> about 8 years ago I think.
>
> Aha! So we just need to collect the old ones. I propose using a magnet
> to sort them.
Noting on Wikipedia that currently the old 2p coins contain about 3p worth
of copper, would it be worth the cost of stripping it off the steel? Oh
and the Mint also reminds people that tampering with coinage is illegal
(technically I think it's treason as you're tampering with an image of the
monarch)
--
Phil Cook
--
I once tried to be apathetic, but I just couldn't be bothered
http://flipc.blogspot.com
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