Copper: Poor Man’s Gold
I often call Copper “Poor Man’s Gold” because of its high scrap value. But did you ever wonder WHY your copper scrap is so valuable? You have to have an understanding of copper to see the value in it. Here are some things you might not know about my favorite metal: copper!
Copper is a versatile and resistant metal that has been used by humans for thousands of years for a variety of products. Historically, copper was used for coins, ornaments, cookware, and tools. Today it is used in many areas of our life including currency and plumbing because it is easily stretched, shaped, and molded. It’s resistance to corrosion makes it an ideal conductor of heat and electricity. Presently, copper is most widely used in construction, power generation, plumbing, electronics, and vehicle production.
Over 30 years, the production and demand for copper has increased substantially. Copper production is fairly widely dispersed and it is one of the most recycled of all metals, making it a relatively sustainable resource. Because it can be remelted and retain its physical and chemical properties, copper has enormous long term value beyond the varying monetary market price.
Copper Deposits and Demand
Fortunately, copper is a highly abundant natural metal that has a wide presence across the globe. The majority of copper deposits are located in South America. The Andean region produces a large percentage of the world’s copper–in some years as high as 45%. North America also contains large amounts of copper with the Western U.S, Canada, and Alaska containing large known deposits.
At Montgomery Scrap we accept all types of copper. If you have questions about the differences in types of copper, check out our “Copper 101” video.