I've got 13 boxes on nickels in my safe. I believe that the US will replace the present composition of 75% copper and 25% nickel in the not too distant future. I also think that if nickels hit 2x face in metal value before that happens that they'll disappear from circulation as people hoard them. Gresham's law. I think its possible that 30 years from now people will be trading present day nickels for mutliples times face. Just like pre-1964 silver coins today. What do you guys think? If you think I'm crazy please explain why. p.s. - I like hoarding nickels. It is fun to "be in the game" regarding these base metals. I check the prices daily.
I've been considering getting $100 in pre-1982 pennies, never considered nickels. They're at something like 6-7 cents right now, right? I personally agree with you, I think it's a smart move (even if people today call us crazy). I think pennies might be a smarter move though, since percentage-wise they are going to get you more bang for your buck.
I kept the War nickles, but not the others. Once my set was complete, I moved to other things. As far as an increase in face ? Probably keep abreast with inflation anyway
Cube - Oh, I have PLENTY of pre-1982 cents. I think you're right as to "more bang for the buck" with cents, but you have to sort them. Nickels you can just buy and stack.
Copper and nickel are industrial metals that are dependent on a booming economy to fuel demand and if you are betting on a booming economy there are better investments such as stocks and real estate and i don't think the bullion forum is the right place to talk about base metals.
Last evening I was looking through all my jars of change (a change hoarder, I have mason jars and little cardboard boxes, any little containers I could empty my purse into..for many years..) and the nickels that I set aside are the odd designed ones, with the different faces on them. They are very pretty. From your post, I'm thinking maybe instead of dipping into my jars for "mad money" occasionally, I'll just keep putting them in places I don't remember! Lucy
Luke's got a good point. I think it has to be a precious metal for it to be worth investing. especially copper, if copper ever became precious, everybody would start tearing down phone poles to sell the copper in the wires.
Don't know what they are called; the faces are like moons to me..they are very attractive, different views. The backs, well even a buffalo! I like them. Just to look at. But it's the faces that jump out at me; sort of like jewelry does! (I know, wrong reason to keep a coin..) My husband purchased and collected for investment and for numismatics. Me, I have purchased (over the years) proofs of certain coins or sets , cuz I liked the "pictures" on them, or because I wanted to give the "picture" as a gift. Thanks for naming them for me; I'll look 'em up and see what I can learn. Regards, Lucy (I hope that's not too much off topic..)
Im doing a presentation on the United States Mint changing the composition of the penny and nickel.....I will email it to you if you want me to FYI Obama just finished up the 2011 Budget and inside the budget was permission for the mint to start changing both denominations composition
At today's prices, a nickel melts for 6.178 cents or roughly 1.24x face. A pre-1982 cent melts for 2.498 cents or 2.498x face. This is a no brainer. Would you save cents if they were only worth 1.24 cents melt? If you believe in copper bullion, the pre-1982 cents is a MUCH better investment. Simply buy boxes of cents, look for WAMs, CAMs, Double ears, etc., and separate all of the copper cents and you are doing much better than investing in nickels.
He does bring up the good point that nickels eliminate the need to search for specific dates (as is the case for pennies with the pre-1982 stipulation). So for those of us who want to get to hoarding but just don't have the time to meddle with pennies, buying a few boxes of nickels will be alright. I'm personally going to stick with pennies, but that's because I have time to sort them (I'm a student, my time isn't worth anything ) edit: Also being a student, I don't have any money! Them nickels would add up quick
Bobeth - Every time I purchase a box of nickels I spend $100. Then I walk out the door with $120 in copper and nickel. Where else, besides PM's can you get that kind of a return? Worst case scenario I can always take them back to the bank and get my $100 back. I'm already in the market. I'm already in precious metals. I already own property. Just trying to spread the risk and have some fun! By the way, I'm starting to notice that there are fewer and fewer pre-1982 cents in every box. I don't know if its normal attrition, hoarding, or both. Get 'em while you can. Thanks for all the responses. Tom
I see nothing wrong with it because you like doing it and are having fun. There may not be as many varieties in nickels as the cents but you can still separate out the pre-1964 nickels which are getting tougher to find these days. TC
I think 30 years from now there may be no coins being made by the Govt. I gotta believe one day there will be only digital transactions.
Since I last checked it was worth $1.25 per roll to melt I really hope it gets to 2.00 soon so the dealer I know will buy my wheats for more than 2 cents each
