HI to all out there, I am new to this site. So yesterday I am reading my paper and see something about a last chance to buy some coins...from the vault. They were from Devner and Franklin mint...basically uncirculated Jefferson nickels... So I rushed to the phone to buy. So i paid $109.00 for 500 silver nickels from the mint and another $109 for the Jeffersons from Denver (totalling 1000 nickels for $220.00 Was that a good investment. I know nothing about coins but something told me to do it.... any thoughts on this? Also does uncirculated coins means that they can never be used? thanks
Essentially, you bought 50 dollars worth of coins for 220 dollars. Melt value (which is now illegal) is slightly higher. There is no silver in your nickels. They are a copper nickel alloy. Possible investment value, hard to say but I'd be willing to bet that if properly stored, you children may realize the 220 value you paid some day. Sorry. There are a lot of hyped-up scams out there when it comes to coins. Welcome to cointalk! P.S. Uncirculated is just a regular business strike that has never been put into general circulation. You could get a roll of the same coins at your local bank for 2 dollars each.
So i thought i was making money....So the coins couldn't even be used....because 500 nickels is about 250 bucks right?
Gee, u were right...dont know where i got $250 bucks from...its on worth 50 bucks...thanks so much...just canceled my order.
The only nickels that are silver are war nickels dated 1942-1945----it is highly un-likely that anyone would be selling Uncirculated War nickels for these prices. Speedy
A guy I know but coins from the vault uncirculated...he wanted some buffalo nickels (not a collector, saw the ad in the paper)....2 rolls. Dont know how much he bought them for but every single one of them had scrapes and scratches...they were in poor shape...but certainly uncirculated...probably had been in bags clanking against each other for a few years...real crap...
Welcome to the forum! It was a good decision to cancel your order, as these types of adds are way overhyped and geared toward noncollectors. If you want to save some uncirculated rolls of coins, whether nickels, state quarters, etc......try visiting your local bank and asking for them. If they have rolls of the new coins, you will be able to get them for their face value.
poetry: Welcome, and don't let this experience dampen your collecting. Give it a try and you will really enjoy it.
People in coin talk are really excellent people as I have found out. You might just want to visit for a while and learn form those who have been through most anything you can think of in the coin world. Like any other hobby you can spend as much or a little as you like. The main thing is to have fun and watch out for people who will tell you anything to seperate you from your money
