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 Replies: 19 / Views: 3,378 |
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Pillar of the Community
 527 Posts |
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What is your obsession with Mr. Rawles? I don't think he's the one with the issues... I have no obsession with Mr. Rawles, nor did I say he has any issues. There's nothing wrong with Rawles trying to help people, but he is making it sound like once the metal is changed, it will be too late to collect them. You can still go to the bank and get countless rolls and boxes of nickels. Remember this: A lot more people in the world don't know anything about the metal composition of coins vs. the amount of people who DO know about the composition of coins, so there will be more than enough time for people to hoard nickels when the metal changes. As for Kyle Bass, if he wants to store 20 million nickels in a Brinks storage facility, that's his deal. I just think there's a lot better things to buy with 1 million dollars. Edited by TheDanMan
01/02/2012 3:05 pm
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Pillar of the Community
United States
2624 Posts |
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but he is making it sound like once the metal is changed, it will be too late to collect them. You can still go to the bank and get countless rolls and boxes of nickels Point of fact:The mint stopped minting copper cents 30 years ago and there is still plenty of copper coins out there. |
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Pillar of the Community
United States
2602 Posts |
PLenty of copper cents still out there, but now you have to sort them. Nickels- no sorting is needed until they introduce the new metal composition.
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Pillar of the Community
United States
1374 Posts |
If I was that bored with that $1 million, I would buy halves and start hunting silver. Imagine if you did it over and over until all face is silver. 30x my money, okay thanks.
The composition will change, it is just a question of when. If thinking logically, yeah it should have been done a long time ago. But then our mint and government are not all that logical, are they? To assume they would have reacted quickly to change the composition of coinage is the only fault I see.
Edited by Drsandman2
01/02/2012 3:34 pm
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Pillar of the Community
United States
4212 Posts |
Gee, I've been manually sorting for years.
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Pillar of the Community
United States
2624 Posts |
Quote:
PLenty of copper cents still out there, but now you have to sort them. As a "cherry picker" I go through rolls one coin at a time looking for varieties. I keep the copper ones.No problem. |
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Pillar of the Community
United States
1150 Posts |
Copper or not, cents are illegal to melt hence there are still a lot of 'em out there. Kyle Bass is an investor, and he has put some of his money in nickels. The dollar value of his nickel stash is irrelevant since it is all relative to his personal net worth. Searching a million in halves, although fun, is not worth his time.
But again, I just don't see anything wrong with what Rawles is saying since he is of the belief that bad money chases out the good. I think it would be a good idea to get a jumpstart on something like that.
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Valued Member
United States
230 Posts |
I had never heard of this Rawles guy until today so I did some research to see what the hubub was all about. So now I have to worry about all this Dollar collapse/ hyperinflation in addition to global warming, the Mayan end of days, astroid collisions, Armageddon, Tsunamis in Kansas and Y2K?
Oh my!
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Pillar of the Community
United States
1796 Posts |
If the nickels are debased to steel all you need is a magnet.
Sorting will be *easy* compared to sorting silver from cupronickel or zinc from copper! :-)
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Valued Member
United States
397 Posts |
It's currently illegal to melt nickels - just like cents.
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Pillar of the Community
United States
5856 Posts |
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Of course, a broken clock is right twice a day. Yeah. Unless it's digital... |
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Bedrock of the Community
United States
17884 Posts |
In all his quotes just change "very likely" to "may possibly" and he is correct in every case. They have been losing money on the nickel every year since he started making that quaote and they have been studying the problem and discussing changes ever since then. He just goofed in thinking that Congress would solve an obvious problem quickly. Just wait until they finally get this small dollar replacing the dollar bill problem worked out successfully and they will get right at that nickel problem. And give them some time you know, they've only been working on the dollar thing for thirty years.
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Moderator
 United States
188920 Posts |
If they were smart, they would skip to end and allow the five cent coin to cease as a denomination minted for circulation.
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Valued Member
United States
194 Posts |
I like JWR, his website on survival, and his books. The American Redoubt is a neat concept.
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Pillar of the Community
United States
1432 Posts |
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So now I have to worry about all this Dollar collapse/ hyperinflation in addition to global warming, the Mayan end of days, asteroid collisions, Armageddon, Tsunamis in Kansas and Y2K? 14ers  what about swine flu & mad cow disease to name a few others |
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Replies: 19 / Views: 3,378 |
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Posted 01/02/2012 3:16 pm
