Start hoarding nickels?

It's .38c a pound.
I sold almost 200# on Monday.

 

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According to Kitco... it's $1.2994-$1.2995/lb.
Here's the Pb spot chart:
http://www.kitcometals.com/charts/lead.html

 

That's not what you get for it when you take it in.
I called around and took it to the highest quote.
My dad had a 5 gallon bucket full of clean, soft lead fishing weights.
I didn't need them for anything, so took them in for scrap after calling around for best price.

Edit:
I also took in 27# of clean copper, and it brought right at $4 per unit.
Stainless brought .97 per unit.

 

Should have held onto those lead weights. Some fishing tackle collectors pay good money depending on size and shape. As far as I know they don't make lead weights anymore, because, well, they're lead and that plus marine life is a bad combo. At least here in the west they're banned from use and sell.
Guy

 

Most he had melted into discs (shape of the old pan he melted them into.
Then the rest were fresh fishing weights that he had made himself from pouring into molds.

There were some lead ingots in 1# with a company name on them. Much like a silver ingot.
I kept 2 of those for giggles.
I also have a lifetime supply of fishing weights that I kept, as well as dad's molds to make more if I ever get froggy.

So long as you have the molds and some automotive wheel balancing weights, you're self sufficient.

 

I love having lead around. Its the most useful tool I have ever had in the shop and around the house, especially when glueing something back together.

 

Are you guys telling me that the insane amounts of lead weights I find in the water when I am metal detecting are actually worth something? Between Dad and I , we have many many pounds of the old fishing weights. There some big ones, and all different shapes. Mostly the large tear drop style, but other, odd shaped ones as well.

 

If anyone else finds lead fishing weights, seriously, sell them on craigslist in the sporting good section. Buyers regularly offer 50c or more, so you could probably sell for at least 60c per pound, perhaps as high as 85c, if you're patient and greedy.

 

If the fed changes the way nickles are made then wouldn't that be enough to collect them? I keep reading about how nickles are going to be made from plastic or some other cheaper metal? I have started saveing my nickles but I don't go over board with it.

 

Interesting article on how the author thinks that pre-82 cents and current nickels will vanish away over time --- based on Gresham's Law (loosely stated as: "Nad money drives out good")

http://mises.org/daily/5831/Will-Nickels-and-Pennies-Soon-Disappear

in a manner similar to (but nowhere near as drastic as) how pre-65 silver coins [good money] disappeared when clad coinage [bad money] came out.

 

I could see it easier with cents, (even though they carefully made post 83 cents LOOK identical to prior cents), but I am unsure about nickels. Unless there was a lot of press about how valuable they were, and as long as the mint continues to put new into circulation, I simply don't see them hoarded like that. Gresham's law worked in 1965 because people could tell the difference between clad and silver, so the bad clad drove the good silver out of circulation. What would drive good nickels out of circulation? There are no "bad" nickels yet. If the US changes the composition of the nickel, then I very well see this happening.

 

I could see the US doing what Europe does for their nickel equivalent.

 

If you have a crystal ball, how 'bout renting it to me. I think a bill was introduced on Dec 15th to produce nickels and pennies out of STEEL.

 

I don't bash nickel hoarders but to me anything more than say $50-100 worth is sidelining money that could earn more in other investments. I see pics of people with a 3-4-5 ft tall stack of nickels boxes. that seems like not getting good use out of your money. just MHO