Free Money!

WOW!! Btw...where do you go to buy $1,000,000 worth of nickels? ...and who's gonna sell them? :scratch:

Last year...February 2011...

Copper: $4.50/lbs
Nickel: $20/lbs

Plugging those numbers into the equation you get...

Nickel: $20.00 * 11% = $2.20
Copper: $4.50 * 33% = $1.49

Total: $2.00 Roll of Nickels contained $3.69 of PMs (or I should say "BMs"...base metals)

That's $1.69 FREE MONEY /roll!! ...last year. No reason we can't return to those levels.



Prediction...

We already know that Congress is looking to change the composition of nickels" to steel or zinc. As the price of Copper and Nickel rises above the cost of the coin, I would expect to see fewer newer nickels produced or released into circulation. In fact, once the new compositions begin circulating, I would expect the Mint to pull as many of the old compositions out of circulation as possible (Free Money!!). That could make some of the current Unc rolls quite a hot item in the "not too distant" future.

Remember...you heard it here first! :secret:

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Dunno about that 1st heard thang...Rawles at his survival site has been pitching nickels for years

ETA: hmmm, I think JWR only pushes hoarding any rolls, not UNCs...sorry YAKPOO! :hail:

 

He went to his local bank. (Apparently it took him a while to convince them he really wanted that many.)

They didn't have them, so they went to the Fed.

The Fed asked why he wanted 20,000,000 nickels.

He said he liked nickels.

They shipped them.

(The nickels are now residing in a Brinks vault in Dallas.)

 

That... seems like it would entail a bit of overhead cost.

 

The, the, 2011 Silver Proof Set Sales Report............Where's the report?

 

wow!!

 

Sorry...got in late last night...had to make the rounds.:luckyguy:

I'm known as something of a Valentine's Day "Santa"!





Silver Proof set sales as of 14 February, 2012...

2010 Silver Proof Set sales: 0 for a total of 585,414*
2011 Silver Proof Set sales: 985 for a total of 550,426
* Sold Out

The lowest mintage of any modern Silver Proof set is 2010 (585,414). Since we have no idea when the 2011 sales will end (or when 2012 sales will begin) the best we can do is estimate how long it will take for 2011 sales to match 2010 sales. Given this week's sales of 985 sets, it will take over thirty (35) weeks to catch up...and that's just about my favorite Golf weekend...Columbus Day!!

2011 Silver Proof Set: (585,414 – 550,426) / 985 = 35.52

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Finally! I figured out...

1. Who JWR is, and
2. What ETA means (not...Estimated Time of Arrival)

I agree, JWR doesn't sound like a Numismatist...so I guess he wouldn't find Unc rolls particularly appealing.

 

Just a bit off topic, but I have a trivia question I thought you might find interesting...

You're stranded on a deserted tropical island with nothing but a bunch of Unc US coins (pennies, nickels, dimes, quarters, halves, and Presidential dollars), 1000 one (1) ounce silver rounds, a Red Book, and a counterbalance scale. The King of the island's natives says he'll take you back to civilization in exchange for your silver rounds, but you first have to prove that they are the correct weight. What combination of Unc coins will you use on the other side of the scale to get the job done...to the King's satisfaction?

[video=youtube_share;-Q0TRrN08ow]http://youtu.be/-Q0TRrN08ow[/video]

 

3000 Presidential dollars plus 3000 dimes will do it. What do I win? TC

 

You didn't say which type of dimes.

Even if you said "Clad Dimes", that still wouldn't be the answer. Although "very close"...there's another answer that's closer still (and more to the liking of the King!).

 

I have to assume that the 1000 ounce silver round is 1000 TROY ounce silver round, that is 31100 gram! In that case, I could use 6220 unc. (clad) nickel to balance it off!

(If it were 1000 auvoir ounces then I could use 5650 nickels to get it even - well, close enough)

 

or you could use 12440 copper plated zinc pennies (that weighs 2.5 gram each)

or if you wanna be more precise that 1000 troy ounce is 31104, then you could use 6221 unc. clad nickels or 12442 copper plated zinc pennies ;-)

 

Even more precise, it 1000 oz (troy) = 31103.477 g, then I could use 6220 unc. clad nickels and 1 coin of 95% copper penny before 1982 ;-)

 

Ok, even much more precise; 1000 oz (troy) = 31103.477 g equals to 6218 nickels (31090 g), 1 cupro-nickel dime (2.268 g), 1 pre 1982 95% copper penny (3.11 g), and 1 presidential golden dollar (8.1 g)! Voila, I solve it!

 

The King says: :welcome: to civilization!

 

The King was thinking...

6000 1916-D Mercury Dimes @ 2.5 grams each...or 15,000 Grams
3000 1926-S Buffalo Nickels @ 5.0 grams each...or 15,000 Grams
100 1873-CC Seated Liberty Quarters (Variety 5...Arrows at Date) @ 6.25 grams each...or 625 Grams
38 1874-CC Seated Liberty Halves (Variety 5...Arrows at Date) @ 12.5 grams each...or 475 Grams
1 1914-D Lincoln Cent @ 3.11 grams each...or 3.11 Grams

...for a grand total of...31103.11 (which is close enough for the King!)

(of course, after reading the Red Book, the King said "to Heck with the Silver Rounds...I'm taking the coins!!")

Actually...you guessed what I was thinking in Post #494 :cheers:

 

Your Majesty, dare I say that my weighing is much more precise that thou? [SUB][/SUB]

 

:hail:OUTSTANDING!!! ...that's even better than the King expected!!! :hail:

 

Your Majesty, I am only your humble servant.

And if you may, may I keep the nickels rather than going back to civilization ....