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I Stopped Hoarding Nickels
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<p>[QUOTE="Endeavor, post: 2102067, member: 60292"]For a little while there (about a year) I was taking every nickel in my change and setting it aside. The idea was to have a stash when the mint announces they are changing the composition due to high nickel and copper prices. At one point the five cent piece had a melt value of double the face value. Since then melt values plumetted to its current value, below face value.</p><p><br /></p><p>I now realize that was a very dumb idea. Especially when you can (and will after announcement) be able to walk into a bank and buy as many nickels as you want. Even after doing so you won't be able to do anything with them anyway since law prevents anyone from melting them legally. Take the copper penny for example. Even with a melt value well above face you can't find someone to pay you melt. And they are still found easily even after the composition changed over 30 years ago!</p><p><br /></p><p>Bottomline, I realized it was extremely foolish to hoard nickels.[/QUOTE]</p><p><br /></p>
[QUOTE="Endeavor, post: 2102067, member: 60292"]For a little while there (about a year) I was taking every nickel in my change and setting it aside. The idea was to have a stash when the mint announces they are changing the composition due to high nickel and copper prices. At one point the five cent piece had a melt value of double the face value. Since then melt values plumetted to its current value, below face value. I now realize that was a very dumb idea. Especially when you can (and will after announcement) be able to walk into a bank and buy as many nickels as you want. Even after doing so you won't be able to do anything with them anyway since law prevents anyone from melting them legally. Take the copper penny for example. Even with a melt value well above face you can't find someone to pay you melt. And they are still found easily even after the composition changed over 30 years ago! Bottomline, I realized it was extremely foolish to hoard nickels.[/QUOTE]
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