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December 2, 2008 9:54:14 PM CST

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7 Stories

Construction Theft Is Building Concern

$5B in annual losses drive home prices up
by as much as 10%

New York Times New York Times Aug 28, 08 9:33 AM CDT
(Newser) - Increasing theft of building materials from construction sites, especially residential projects, is driving up the cost of homes to consumers as much as 10%, the New York Times reports. Experts say as much as $5 billion a year is being lost to thieves looking to profit from skyrocketing prices for building materials and metal prices. More »

Gold Medal Is Priceless,
But Metal Is Worth $215


MarketWatch MarketWatch Aug 20, 08 8:49 PM CDT
(Newser) - Michael Phelps’ eight Olympic golds may be priceless, but they're not worth that much to a commodities trader, MarketWatch notes. This year's gold medals are made mostly of silver and coated with less than a quarter-ounce of gold, putting their value around $215. But people are, of course, willing to shell out much more for a piece of Olympic history. More »

More about:  2008 Beijing Olympics • Michael Phelps • gold medal • metal prices • commodity prices • silver

Manhole Cover Thieves Hit Streets of Philadelphia

Scrap metal prices result in 25-fold spike

New York Times New York Times Jul 23, 08 8:47 AM CDT
(Newser) - These days you have to watch your step in Philadelphia. The City of Brotherly Love is suffering from an epidemic of manhole-cover theft, as rising scrap metal prices have led to a 2,500% increase in stolen covers and grates. Thieves are selling the covers for $5 to $10 at junkyards, reports the New York Times, and some streets now have so many orange cones marking off danger zones that they look like a slalom course. More »

More about:  Philadelphia • theft • metal prices • steel • iron

US Rations Silver Dollars as Investors Scoop Them Up

Soaring silver demand means mint can't make coins fast enough

Wall Street Journal Wall Street Journal May 23, 08 9:31 AM CDT
(Newser) - Investors and coin collectors are hopping mad at the US Mint for placing quotas on purchasing silver dollars, the Wall Street Journal reports. The price of silver has more than doubled in the last three years, and investors looking to cash in on the boom—and avoid the stock and real estate markets—are snapping up this year's "silver eagles" much faster than the mint can make them.  More »

More about:  US Mint • metal prices • collecting • coins • silver

 US Shooters Hit By
 Soaring Bullet Prices 

Demand for metals triggers ammo price hikes

Reuters Reuters May 20, 08 2:57 AM CDT
(Newser) - Gun users across the US are having to tighten their ammo belts as bullet prices soar, Reuters reports. Sky-high worldwide demand for copper, lead and zinc means the price of most bullets has shot up two to three times in the last couple of years. Add to that competition for ammo from the US military, engaged in two wars. Budget-conscious shooters are having to bargain hunt, reload less often, and reuse old casings. More »

More about:  gun • metal prices • ammunition • shooters

 Steal the Pipes, Ditch the House 

As metal prices soar and housing prices dives, thieves find value in copper

Reuters Reuters Apr 2, 08 3:04 PM CDT
(Newser) - Rising metal prices have rendered some foreclosed homes worth less than their plumbing, and thieves are stripping the vacant abodes of copper, aluminum, and brass to fuel a lucrative overseas trade. Several states have hardened penalties for metal theft, but skyrocketing nonferrous metals prices have thieves risking steel cages for copper pipes, reports Reuters. More »

More about:  subprime crisis • housing crisis • foreclosure • burglary • black market • metal prices • copper

Paulson Wants to Toss Pennies

Costs outweigh value od small change, but government has no plans to cash out

Associated Press Associated Press Feb 29, 08 4:15 PM CST
(Newser) - Henry Paulson sees little point in pennies and would stop their production if he could, the AP reports. “The penny is worth less than any other currency,” the Treasury Secretary said today in a radio interview. But a sea change in change isn't imminent: Paulson says he has bigger challenges to tackle in the last year of the administration. More »

More about:  Henry Paulson • Treasury Department • US Mint • US currency • metal prices • penny

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