The current value of copper is around $2 to $3.00.
However, its true worth goes beyond the monetary. These facts will show how vital this metal has become.
Use in Appliances and Electronics
The fact is that this element is found in most major appliances. Refrigerators and ovens need them to run properly. In addition, virtually all electronic gadgets make use of it. Computers, from desktop to notebooks have it in their system.
The phone you use also employs it. Of course, it is also used in putting together electric wires. When it comes to generating electricity, this component is absolutely vital.
The value of copper is that it is utilized in almost all basic services too. Pipes used to distribute water avail of it. It is used in power lines as well.
The metallic element is a vital ingredient in running cars and other vehicles. Indeed, 50 lbs of it is used in an average vehicle.
On average a person will utilize up to 1,500 lbs of the metallic element in a lifetime. Over 500 lbs are contained in the typical American home alone.
Another reason why it is relied upon heavily is that it is very malleable. The metal is also strong and conducts heat very well.
The value of copper is such that it is being used in space programs and missions. Together with its alloys, it has become a vital part of technology.
While used in advanced science, it also provides very basic services including light.
Other Facts and Figures
Apart from gold, it is the only metallic element with its own color. Everything else comes in white or grey. While most metals are subject to rust, copper is more durable.
The archaeological evidence indicates that the material was already in use in 10,000 BC. In fact, pipes going back c. 3,400 BC have been found. What’s more, they are still in good shape.
Of course, the value of copper includes its use in making coins. Over 35,000 tons of it is used by the government to make coins.
Its use in construction has already been stated. For the record though, over 180,000 pounds of it are on the Statue of Liberty.
One of the Dead Sea scrolls is comprised of this material. The fact that it has been preserved well is a testament to its durability.
Over 40% of copper being used are for building. This includes cables, roofs, and assorted materials.
The remaining percentage is divided between electronics, machines, and other utilities.
In modern societies, these services are very basic. For this reason, there is a huge demand for the element.
Aside from its basic form, copper can be fused with other metals to produce other useful materials.
Combining it with tin will make bronze, for example. If copper is mixed with zinc, the result is brass.
In terms of monetary value, the value of copper is nowhere near gold. But in terms of usability, it is close to being priceless.