Copper may not have the panache of gold, silver or platinum, but it is one of the world’s most important industrial metals and has been in use for almost ten thousand years. Here are some reasons why it makes copper precious metals an outstanding investment.

Early Origins

Copper was originally discovered in Cyprus along with other sites throughout the ancient Middle East. The earliest copper artifacts were most likely decorative before being used for utilitarian purposes. It had to be hammered from native style copper, which is a pure copper often discovered with ore in various locations worldwide. It is believed that metallurgy first appeared around 5,000 BC since archaeologists have found evidence of copper based oxide ore smelting from that period. By comparison, gold didn’t appear until around 4000 BC.

Copper Production in the United States

The copper sector within the U.S. has 2 primary segments, which are the mining, refining and smelting firms as well as the fabricators, powder plants and foundries. The most valuable end product is refined based cathode copper along with wire rods, which are usually sold exclusively to fabricators. The fabricators then use the refined copper cathode to produce goods such as sheet, strip, electric wiring, bars, rods, mechanical wires, forgings, extrusions, castings and tubes.

These components are then sold to various users such as construction firms, manufacturers and local and state governments. Some mill products, like cable and wires, can be used directly without needing additional metalworking. However, products such as bars, rods, mechanical wires or anything that must be flat rolled often have to undergo numerous processes which range from machining to forming, assembling and finishing. This results in finished products that can then be sold to the market.

The Future of Copper Precious Metals

While many investors don’t consider copper a “precious metal” because it lacks the rarity or high prices that comes with gold, platinum or palladium, the reality is that it could be considered precious. Without it, the construction and manufacturing industry would quickly collapse. Aside from that, it is a timeless metal that has an impressive past and a very bright future.

There are a number of emerging technologies that will depend heavily on copper. One example of this is applications involving superconductivity, and it can also be applied to newer generation ships particularly in their hulls and within the sheathing for offshore structures. Electric vehicles require copper for their operation, and copper also appears in solar energy devices, heat pumps, sprinkler systems and even disposal canisters for nuclear waste.

How Much Copper Is Available Worldwide?

As far as the Earth’s copper reserves are concerned, only about 1 quarter are considered fiscally recoverable. It is estimated that within the Continental United States, there is about one hundred and ninety eight billion pounds worth of copper, which is about sixteen percent of global reserves.

Every year roughly three billion pounds get extracted from underground, and experts estimate that the total amount of copper mined by man over the last five thousand years comes to around seven hundred billion pounds. Another benefit of copper is that it can be recycled.