Is Buying Physical Copper in Europe Worth It?

While we generally advise against physical copper for large portfolios due to storage costs, the demand for bullion coins and bars in Europe has skyrocketed in 2025-2026. If you are determined to hold the metal itself, here is how to navigate the European market.

The VAT Problem

Unlike Investment Gold, which is VAT-exempt in the EU, Copper is subject to VAT (typically 19-23% depending on the country).

Crucial Rule: You instantly lose ~20% of your investment’s value the moment you buy it due to tax. You need the copper price to rise 20% just to break even.

Top Dealers in 2026

If you accept the VAT hit, stick to reputable dealers that ensure purity (.999 fine copper).

1. Geiger Edelmetalle (Germany): Famous for their square “Security Line” bars. High premiums, but high resale demand.
2. CoinInvest (Pan-European): Good selection of 1kg and 5kg bars.
3. Local Polish Dealers: Mennica Kapitałowa and others often stock copper rounds, though inventory fluctuates.

”Scrap” vs. “Bullion”

The smart way to accumulate physical copper isn’t buying shiny stamped bars with a 100% markup. It’s Pre-1982 US Pennies (if you can find them) or, more relevantly for Europeans, clean industrial scrap (wire/piping).

If you have access to industrial copper at spot price (or below), that is an investment. Buying a “Dragon Design” copper bar at €40/kg when the spot price is €12/kg is essentially buying art, not metal.

Summary

In 2026, buying physical copper in Europe is a hedge against total currency collapse, not a standard investment. If you buy, buy big (5kg+ bars) to minimize fabrication premiums, or stick to industrial forms.