buy a box or two of nickels to tuck away? Just been thinking that with the melt value exceeding face value, it wouldn't necessarily be a bad idea to grab some of these to sit on for however long. And my daughter would probably enjoy searching through these with me before we tuck them away. Or are there better things to do with $200? Thanks.
The point is not to find silver, although that'd be a nice bonus. The point is that the melt value of a nickel is currently about $.06.
Face reality. The chances of finding silver coins in bags, boxes, rolls is beginning to be a little on the not to good range. Just about every one is or has been doing that for some time now with this coin collecting boom going on. I would suggest if you want something to keep your kid(s) busy, educational, monitarily rewarding get them a $50 bag of pennies from a bank. First buy a book called Looking Through Lincolns and a copy of the Red Book. You would be suprized how those little kids eyes are so much better than us old people even with a magnifying glass. $200 you say. Just think of 20,000 pennies on your floor.
With $200 I would just buy some silver eagles. If the nickels rise in value, the SAEs will probably rise more. It's also just about the most beautiful coin currently minted even though it is a bullion coin. Your daughter might or might not like looking at 20,000 lincoln cents. But women of all ages seem to have a natural affinity for precious metals.
Another thought if you want some variety... Buy one 1/10 ounce gold eagle, and use the rest to buy one ounce silver eagles and canadian maple leafs.
You have no downside, if you can spare the dough maybe do it (but try to get BU's. First though you may want to start a Roth IRA (you need about $500.00 to start one at Scottrade), the tax terms on Roths are amazing.
Im not sure if your return on your investment would be that much unless you waited a couple of generations to cash them in, even then, who knows.
Oh, boy, ain't that the truth. I hand my daughter the Lincolns for date checks now... of course, they are for her folders so I guess that's fair. One nice thing about Indian Cents... the dates are bigger!
Well, I do already try to pick up silver. When I get it, I tend to pick up BU 1964 coins or something similar. They seem to sell below spot on eBay. My goal is to pick up $10 face each month. I did grab a box of nickels today and I gotta say that they are fun to search IMO. Much more fun than pennies (again, IMO). The amount of Pre-1960's you can find is far superior to pennies. I think we're gonna start on the nickel book next. And I'll probably end up tucking away a good portion of nickels silly or not .
Its pretty hard to sell 90% silver for spot, most will give you 5-10% below spot to cover the buyer's expenses for having the silver melted down. But if its for the kids, then by all means, pick up as many rolls as you can!
