Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Buying 'boxes' of coins
>
Reply to Thread
Message:
<p>[QUOTE="cvicisso, post: 1108880, member: 29382"]Just... wow. I must have struck a nerve or something. What's up? Seriously.</p><p><br /></p><p>I'm actually going to have to agree with your point about me not being able to make up my mind between the dates or metal content. In fact, I mentioned this earlier. And, again, not to insult you or anything, but THAT IS THE POINT: </p><p><br /></p><p><u>The 'date' argument</u>: If the government figures out some magical way to pay its bills in the next few years, then the numismatic community powers on as well, and I own 8,000 of the rarest Jefferson nickles minted in over 50 years (excluding errors, of course).</p><p> </p><p><u>The 'metal' argument</u>: We've beaten this horse already, but... here goes [again]: Jefferson nickels cost the Mint more to make than their face value. Even the METAL content is worth more than their face value. This fact resulted in two recent laws: </p><p><br /></p><ol> <li>It is currently illegal to melt U.S. nickels (presumably for their intrinsic metal content). The same law covers pre-1983 pennies (because of their 95% copper content).</li> <li>A law was signed in December which now allows for the changing of the metal composition of the Jefferson nickel.</li> </ol><p>When this happens (when nickels start being made of steel or zinc or whatever), the BOTTOM-line value for ALL Cu-Ni Jeffersons will default to the 'melt' value. That means ANY nickel made before the switch - <i>regardless of condition</i> - will be worth AT LEAST its value in metal alone. The same is true of pre-1965 silver U.S. coins. Unless there's a hole drilled through it or something, you will not find a 1964 Washington quarter for less than its 'silver' value (currently about $5.90). This reaction (as applied to Jefferson nickels instead of silver coins) effectively reduces the premium I paid for the nickels - just as soon as the composition changes, which I expect to be 2012. </p><p><br /></p><p>And I never said anything about civilization collapsing - just major inflation.[/QUOTE]</p><p><br /></p>
[QUOTE="cvicisso, post: 1108880, member: 29382"]Just... wow. I must have struck a nerve or something. What's up? Seriously. I'm actually going to have to agree with your point about me not being able to make up my mind between the dates or metal content. In fact, I mentioned this earlier. And, again, not to insult you or anything, but THAT IS THE POINT: [U]The 'date' argument[/U]: If the government figures out some magical way to pay its bills in the next few years, then the numismatic community powers on as well, and I own 8,000 of the rarest Jefferson nickles minted in over 50 years (excluding errors, of course). [U]The 'metal' argument[/U]: We've beaten this horse already, but... here goes [again]: Jefferson nickels cost the Mint more to make than their face value. Even the METAL content is worth more than their face value. This fact resulted in two recent laws: [LIST=1] [*]It is currently illegal to melt U.S. nickels (presumably for their intrinsic metal content). The same law covers pre-1983 pennies (because of their 95% copper content). [*]A law was signed in December which now allows for the changing of the metal composition of the Jefferson nickel. [/LIST] When this happens (when nickels start being made of steel or zinc or whatever), the BOTTOM-line value for ALL Cu-Ni Jeffersons will default to the 'melt' value. That means ANY nickel made before the switch - [I]regardless of condition[/I] - will be worth AT LEAST its value in metal alone. The same is true of pre-1965 silver U.S. coins. Unless there's a hole drilled through it or something, you will not find a 1964 Washington quarter for less than its 'silver' value (currently about $5.90). This reaction (as applied to Jefferson nickels instead of silver coins) effectively reduces the premium I paid for the nickels - just as soon as the composition changes, which I expect to be 2012. And I never said anything about civilization collapsing - just major inflation.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Buying 'boxes' of coins
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...