For years, the price of 1,000 board feet of lumber has generally traded in the $200 to $400 range. It’s now well above $1,000. (One board foot is 12x12x1 inches, and the average new single-family home takes about 16,000 board feet of lumber to construct.)
A new house that would have cost $10,000 in wood to get off the ground a couple of years ago now costs $40,000 worth of wood — assuming, that is, you can even get your hands on the lumber.
https://www.vox.com/22410713/lumber-prices-shortage
Scrap Copper hasn’t come up much though. That is where it needs to come up.
Since China uses over half of the world’s copper, ask them!
Went to buy some romex to add an outlet 15 foot 14 / 2 was 23 bucks home chepo
Better watch all the abandoned houses as the scrappers will be at work stealing everything they can cut out.
Now if Someone had not mined out all the copper in Michigan’s Upper Peninsula we’d all be rich now.
Today copper ore is about 3-4% copper. The mined out UP copper ore, all 250,000 tons (est.), was 99% pure.
Scrap lumber might be a thing.
It’s all prices across the board. Went to walmart today and wanted to buy a pair of wrangler jeans. Last year, $11.88, this year $17.87. I didn’t bother getting them. I did get some socks. 12 pack of Dickie, the only socks at walmart made with some cotton, $17 which is about double last year. The rest of their socks are basically plastic.
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After shopping inside, I went to get some potting soil and entered through the fenced area. No more cashier in the fenced area like they used to have but they did have two girls sitting under a canopy to give out masks. They were basically doing nothing since most people don’t wear them and the few that do, bring their own. They also have someone standing in the front entrance all day with masks, who also pretty much does nothing all day.
Meanwhile, only a few cashiers inside and half the self checkout registers weren’t working so there was a line for that too.
Man, you wonder how far this can go. This is in the nature of commodities. Remember $140 oil? Remember -$41 oil?
Like stocks, commodities are in crazy town. The world is in a severed economic contraction.
At the current price for copper and nickel, a $2.00 roll of nickels is worth $2.46.
Welcome to Coinflation: A guide for coin prices and values.
Measuring the Metal Value of Coins – Base Metal, Gold, and Silver Coins
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Base Metal Coin Melt Value Calculation
Generated on May 7, 2021.
Values Used:
Total Face Value: $2.00
Coin Type: 1946-2014 Jefferson Nickel
Copper Price: $4.6988 / pound
Nickel Price: $8.2022 / pound
Answer:
Total melt value is $2.46.
$1.00 worth of pre-zinc pennies (i.e. before sometime in the middle of 1982) is worth $3.11
Base Metal Coin Melt Value Calculation
Generated on May 7, 2021.
Values Used:
Total Face Value: $1.00
Coin Type: 1909-1982 Lincoln Copper Cent
Copper Price: $4.6988 / pound
Zinc Price: $1.3525 / pound
Answer:
Total melt value is $3.11
Been looking at materials index funds this week. Might be a good inflation hedge for the portfolio. Fidelity has a juicy one weighted toward copper companies.
Requisite investment notice to government regulators: I’m an idiot and know nothing. My portfolio is made up of beanie babies and pet rocks. Looking for surplus hula hoops. Call me.