Buying 'boxes' of coins

you cant melt the coins, why buy them for metal value

 

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Good idea.
Was it 08 or 09 that an armored truck dumped all the new nickels on a highway?

 

How do you go about asking a bank for a whole box of coins, I get an evil eye when I ask for $60 in nickles

 

To answer the OP's question, YES, you can get a whole box of a certain date. I've gotten them from the bank. I sold a bunch of 2009 P dimes from a box I got from the bank.

I'm not sure you'll make a profit by saving them, but hey, you could be right too.

 

Me too. In fact, my 'main' bank has told me that I'll need a 'business' account in order for me to order boxes of coins - and they'll charge me a fee for each box.

 

Thanks. That would have saved me some money back in 2009. But, no one could find 2009 nickels anywhere back then (Google it). It's a risk, I know. I just don't understand why folks get so freaking defensive just because they don't agree. I'm not trying to sell anything. I started out by simply asking a question (which you have now answered - thanks again).

 

I already explained this. No one melts 90% silver coins either, BUT... the base value for them - ALL OF THEM - in any condition - is their melt value (silver content). The same will be true of the current nickels when the composition changes. I'm not asking you to agree with me. I'm just explaining where I'm coming from.

 

I had no intention of buying the dimes - I just wanted to answer the original question about getting the same date in one box (which has now been answered). Insane? Perhaps. But no one ever breaks out by thinking and acting conventionally. I guess I should also state that the $1k I spent wasn't taken from food for my kids or anything. I had the extra money, so I took the shot.

 

Would you buy a 2008-W Silver Eagle w/2007 reverse at 250% of face value? Ok - not face value, but even 250% of melt value (the cost of 1 troy oz of silver)? At today's price of $34/oz - that's $85. I would. In fact, I would keep doing it at that price until I couldn't do it anymore.

To give some perspective on just how rare the 2009 nickels are, here are the mintages from the last few years:
2004 P Peace 361,440,000
2004 D Peace 372,000,000
2004 P Keelboat 366,720,000
2004 D Keelboat 344,880,000
2005 P Bison 448,320,000
2005 D Bison 487,680,000
2005 P Ocean 394,080,000
2005 D Ocean 411,120,000
2006 P 693,120,000
2006 D 809,280,000
2007 P 571,680,000
2007 D 626,160,000
2008 P 279,840,000
2008 D 345,600,000
2009 P 39,840,000
2009 D 46,800,000

Notice anything? That's called a 'key date' folks.

 

The Mint generally produces bags of coins then contracts out the rolling of the coins to private firms. I believe N.F. String & Son, Inc. may be one of the Mint's contracted firms. The general public can also purchase coins supplies and rolling machines from them so you can't be 100% sure the rolls haven't been tampered with...probably not, though.

I enjoy going through Original Bank Wrapped (OBW) rolls to look for error coins...die breaks, strike throughs, brockage, etc...but I wouldn't pay a big premium to do it.

You may also be able to turn a small profit on the metal content...but I would advise against it. My Father bought a number of sealed bags of memorial pennies back in the early '60s. He lugged them around for 45 years...now I'm lugging them around.

Not only do they take up space, but there are security and environmental hazards to consider. Oh...and the pennies had 20x more purchasing power when he bought them so he lost any potential profit...and THEN some. Had he put that money into McDonald's stock back then...I could hire someone to lug these pennies around for me!

Even though there were only 86 Million nickels and 146 Million dimes minted in 2009, that's still a LOTTA coins! ...and folks are hoarding them because of the low mintage.

Take the 1955-D Washington quarter, for instance...mintage: 3,182,400. That was a low mintage even for back then. Folks hoarded them like crazy and now they are one of the most plentiful dates. I picked up 40 rolls of them prior to 2007. I got them for $80-$120/roll. I thought I had "cornered the market"...not!! Lucky for me silver's gone up since then. I need to start selling them off to the next guy that wants a low mintage coin.

Something to think about...:thumb:

Good Luck...and :welcome: to CT!

 

Sure. Find me that magical spot where people are throwing out lots of copper. I'll be happy to go there and pick some up. Just let me step over the charred carcasses of these people who were trying to "salvage" copper from LIVE POWER LINES because they'd already stolen all the plumbing, A/C lines and so forth that they could reach.

As commodities get more valuable, people keep closer track of them, and dispose of them more carefully. At some point, this will happen with nickels, too. And at some point after that, it'll probably happen with copper-nickel dimes and quarters as well. Does that mean this is a good time to start hoarding them? Not for me, but I'm not going to presume to make the decision for everyone else.

 

Scrap metal salvage is a great way to obtain extra funds to buy coins. Not so much a magic spot as it is being in the right place at the right time.

 

Just like being next in line at the bank behind the little old lady with the big bag of dusty, tarnished half dollars, right?

 

I was going to mention that too, all this is is 1955 nickel rolls lesson unlearned.
he mentioned silver eagles before, he should buy those instead.

 

I did.

 

Yes they are a "key" date and the "rarest" in fifty years. I'm surprised though that you discovered the 1959 nickel and that didn't show you the fault in your logic.

Yes in the 1960's they might have been more than 2.5X face, but they haven't really moved in the intervening fifty years. If you paid that premium for them back then you have made zero money, and in effect, due to time value of money, you have LOST a bundle. And that is for a coin that is RARER than the 2009's and which was hoarded to a MUCH less extent. In 1959 and the early 60's the 1959 coins were not really considered to be something "special" and the hoarding of rolls and bags of them was modest. But the 2009's were jumped on with dozens if not hundreds of people putting away multiple bags of the coins. You may have "8000 of the rarest nickels made in the last fifty years" but there are many individual hoarders out there that have 40 to 80 thousand of them. And that doesn't include the hundreds, possibly thousands, that have hoards of the size of yours or smaller. They made 30 million 1959 nickels and probably between 300 and 500 thousand of them are still around in BU. After fifty years they are around 3 - 4X face. They made 39 million 2009-P nickels and probably between 3 and 10 million of them are sitting around in BU hoards today. Frankly I don't see much potential for growth over the long term as a date. Event though it is a "key" there are a lot more modern dates, with much higher mintages, that are much tougher to find in BU today than the 2009-P. And those coins will only get tougher while the hoards of 2009-P's will make them relatively commoner and commoner. Over the past two years the X face premium for these coins has been going down, down, down.

I think you have a much better prospect for profit potential from the metal value of nickels, and right now you don't have to pay a premium to get them, and it doesn't matter if they are BU or not.

 

what does BU mean?

 

Brilliant Uncirculated

 

buy more then

instead of nickels

 

thanks