The Mint has listed the production figures for the 2004 nickels from Jan.-Nov. Denver = 702,480,000 Philidelphia = 657,840,000 total = 1,360,320,000 The information above was given in another thread. Considering the 657 million + mintage, does anyone have any idea what would have pushed the 2004P Peace Medal Rolls up to the $14 to $16 per roll level?
All of the above! Sounds like all of the above explanations probably fit. However, it's hard to believe anyone could be stupid enough to pay close to $20/roll for a nickel with mintage this high, when a semi-key, the 1958P with 17 million minted can be had at about the same price? Wonder if the same craze will transfer over to the 2004D Peace Medal rolls?
Popularity, coupled with the mistaken belief that they will be "exteremly valuable" in the years to come
I would rather think that the bulk of the nickels are NOW in the hands of private collectors and hoarders and the dealers supplies are very LOW! Now how would you get these people to put some back on the market if demand is still there? You don't have to be a rocket scientist to figure this one out! Bring up the per roll prices? Face it guys, how many of you have sold any back to a dealer? Most folks will not entertain that notion until the program has ended and they get a feel for prices then? After all if the Peace Medal P is worth that now, what will they be worth this time next year? Thats why every one is holding at this time.
I think along with what everyone else is saying that it is because of the doubled die variety on them. Coin magazines are selling one of these doubled die p nickels for 295$!!!! I personaly cant even see the doubling so I decided not to go through my rolls.
Well the US Mint says they are not doubled die examples - so do some of the recognized experts. But there are other experts who say they are doubled die coins. The debate continues. The same is true of several coins, cents, dimes & nickels.
I also would suggest you take your numbers and divide them by 40 to put things into perspective. Thats how many rolls were released! Some where just over 34 million rolls? Now if one million collectors have, say around 6 rolls stashed back, that would put another 6 million out of the mix and we are no down to 28 million rolls. How many did the banks actually get and bust open and how many are still sitting in the Federal Reserve or sitting in dealers hands waiting for prices to go up. When it is all said and done those big numbers can be broke down very quickly. I am sitting on over 100 rolls of buffalo nickels right now and 40 proof buffalos! How many collectors out there are doing the same? This would give you some idea how quickly coins can disappear off the market and demand then comes into play! How many rolls have all of you stashed, just on this forum? Perhaps that would be a good post to start so we could just see what is happening to those rolls!
