http://www.philipnelson.org/2008/07/mass-inflation-ahead-save-your-nickels/ Good or bad idea and why?
If you're thinking about it in terms of investment, it's a fairly low risk one. Like with any "stash the cash" type plan, whatever happens you still have cash. They're going to be worth five cents still. Other investments have the potential of decreasing in value, even gold can come back down for example. A nickel? Still worth five cents, even if copper comes back down in price. The risks are more physical, what if your house burns down? or, you get robbed? Inflation can hurt the basic value of five cents, but this guy is predicting that inflation will only further increase the value of the metal. That's the risk. However, in order to share in the reward, I wonder how easy it is to sell those for their metal value? What kind of bulk do you need, in nickels, to get a decent price for the metal value?
Peter T Davis, if house burns down, I will not have to wait to allow melting of coins and insurance will probably cover the loss. Hehehe. If I get robbed, the robbers would still probably be trying to move the stash by the time I got home. LOL In regards to the type of bulk needed, local scrap yards start giving better prices at about 100lbs. Even better prices at 500 and 1k lbs. Would still have to wait for the ban to be lifted. Thanks for the replies!
From what I understand, the government only criminalizes the melting of pennies and nickels with valuable metal content due to circulation numbers... it is only a matter of time before we will see clad nickels... and hopefully not long after that the ban will be lifted. great article!
I believe when you sell the nickel though (assuming you could for its metal value) dont you include the copper? since it is 75% copper
