Hoarding Nickels?

[NoOneButPaul]

What's everyones thought on hoarding Nickels?

[tfurrh]

I save them. and pre 1982 pennies.

[Noble Savage]

my mom met my dad when he didn't have 2 nickles to rub together...

I am in the mode of getting rid of everything not saving... true freedom is having nothing more than what you can carry

[Steve-in-NY]

Me too. 1981 and earlier pennies and pre 64 quarters and dimes and 42-44 nickels. theres another year or 2 in the nickels but I usually just save all the pre 46s and check on the dates later.

I was gonna sell some of the pennies but Idk who wants em. I was gonna sell 100 fv for 150/w free shipping.

[Zippyjuan]

Not much return and high space storage requirements. Other than redeming them for five cents, not much you will get for them (not exactly a booming market for nickels unless they are rare ones). Coin dealers won't want to bother with buying them from you.

As for their metal content, they are alloys- a blend of metals which would have to be separated out by any smelter and would be illegal for him to do so anyways.

Say you had $1,000 worth of nickles in terms of face value. That would be 20,000 coins. If you kept them in rolls, that would be 500 rolls of coins. Five grams a coin or 100,000 grams which would be 220 pounds of metal. On the other hand, for that same $1000 you could have a half ounce of gold (at $1630 an ounce, $815 of our budget) and a nearly six ounces of silver (ignoring the costs of buying them). Much easier to store and easier to resell later on too.

If you are just starting out, they are incredibly hard to find (haven't been made in over 40 years) but silver coins might be better than nickels. Still affordable alternative.

[NoOneButPaul]

What if Nickels are taken out of circulation in the next couple of years?

I heard Obama's budget plan included making the penny and nickel out of steel.

The Pre-2012 Nickel's value would only go up if the nickels were taken out of circulation by the government and melted down for the metal.

I guess i'm looking at the long long term since i'm younger but in 1964 if you had hoarded 1000$ worth of dimes and quarters right now you'd have over 100k.

Silver coins are hard to find now because people hoard them, I guess what i'm hoping is pre 201X-nickels will dramatically increase in value over the next couple decades once they are removed and become the new "silver" coins.

Plus if the world went to true $#@! you could melt them down and sell the metals...

[Zippyjuan]

I have not heard of any serious plans to get rid of the US nickel but it would not surprise me if they considered changing the metal content to lower costs though (currently 25% nickel and 75% copper). In 2010 the mint produced 350 million units of the coin (which would be a billion every three years) so scarcity is probably not that much of an issue.

A listing of nickel values (note that this list is only for coins in the absolute best condition): http://coins.about.com/od/coinvalues...kel-values.htm
It indicates that for every year since 1952 a pristine nickel would be worth $.05.

I did find an interesting calculation on the current metal content value of a silver dime (1946- 1964 Roosevelt dimes with 90% silver) http://www.coinflation.com/coins/194...ime-Value.html Comes out to be about $2.29 if you include the copper so $1000 of those would be $23k today. Not to bad, eh?

For comparison, let's say I bought gold in 1964. It was $35.10 an ounce http://www.nma.org/pdf/gold/his_gold_prices.pdf . $1000 would get me 28.5 ounces (we were under a modified version of a gold standard so the price was basically fixed back then- wasn't free to fully float until 1972). Today an ounce of gold is $1630 so if I bought $1000 worth of gold instead of dimes back in 1964 I would be holding $46,000 worth of metal.

Since it is illegal to melt down nickels and pennies (and that they are 75% copper not 90 or 100%) getting a value based on metal content would be difficult for those coins.

But collecting can still be fun. I just would not expect to get rich off collecting nickels.

[Steve-in-NY]

Some pawn shops do buy silver coins at spot.

[oyarde]

The US will not be able to afford to make nickels as present much longer , but the value of them is limited due to composition .

[ronpaulfollower999]

I save all of my nickels. Very simple thing to do.

[Aratus]

am sorta tempted to
have not done it yet

[ronpaulfollower999]

http://www.zerohedge.com/news/some-w...vice-kyle-bass

He still owned stacks of gold and platinum bars that had roughly doubled in value, but he remained on the lookout for hard stores of wealth as a hedge against what he assumed was the coming debasement of fiat currency. Nickels, for instance.
*
“The value of the metal in a nickel is worth six point eight cents,” he said. “Did you know that?”
*
I didn’t.
*
“I just bought a million dollars’ worth of them,” he said, and then, perhaps sensing I couldn’t do the math: “twenty million nickels.”
*
“You bought twenty million nickels?”
*
“Uh-huh.”
*
“How do you buy twenty million nickels?”
*
“Actually, it’s very difficult,” he said, and then explained that he had to call his bank and talk them into ordering him twenty million nickels. The bank had finally done it, but the Federal Reserve had its own questions. “The Fed apparently called my guy at the bank,” he says. “They asked him, ‘Why do you want all these nickels?’ So he called me and asked, ‘Why do you want all these nickels?’ And I said, ‘I just like nickels.’”
*
He pulled out a photograph of his nickels and handed it to me. There they were, piled up on giant wooden pallets in a Brink’s vault in downtown Dallas.
*
“I’m telling you, in the next two years they’ll change the content of the nickel,” he said. “You really ought to call your bank and buy some now.”

[The Goat]

nickels are real money right now. they'll probably be zinc in the next couple of years.

[KMX]

I save all mine.