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 Replies: 22 / Views: 3,409 |
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Valued Member
United States
173 Posts |
great question, and one I had wondered in the past. the experts here never disappoint with their knowledge
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Valued Member
United States
93 Posts |
I'd also like to point out that this isn't only a nickel thing. Every coin now has a pretty low relief finish. Does give some nice charm to older coins.
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Pillar of the Community
United States
3402 Posts |
Let's slow the presses down and go back to quality strikes.
KK
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Bedrock of the Community
United States
17884 Posts |
Would be a good idea, but you would need six times as many presses, dies, and more than six times as much room.
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Moderator
 United States
189110 Posts |
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Let's slow the presses down and go back to quality strikes. I wish, but they cannot mint BILLIONS of them slow. Now, if you they could get rid of cents and nickels that might free up some time.  |
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Pillar of the Community
United States
3402 Posts |
The US population is at best 3-4x what it was back in the good 'ol strike days...certainly we can have good quality strikes with less nickels. Do we really need billions each year? 3-4x what we minted in 1960 should be OK.
KK
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Valued Member
United States
318 Posts |
I've always liked MS grade 1940's and 1950's Jefferson nickels the most. Appears the Mint took their time to craft some really nice coins in that era. As it was explained to me as to why my grandfather had 30k+ nickels stuffed away, there was a crazy Nickel hoarding era that crashed in 1964. In order for the Mint to keep up with demand they cranked up production on the presses for 1960, 61, 62, 63, and 64. The hoarding craze crashed when people realized what they have been hoarding was mostly junk. Whether that hoarding story is true or not, at least that is what was said to me from those who lived it. What I can confirm is that a few years ago I broke open grandfather's nickel hoard and yes, the early 1960s through 1964 was junk as in nothing better than MS64 -- I had a few graded. In total I only saved approx 200 of those Nickels. |
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Bedrock of the Community
 United States
12477 Posts |
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the early 1960s through 1964 was junk as in nothing better than MS64 Anything MS-64 and below is "junk?" In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Moderator
United States
189110 Posts |
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Do we really need billions each year? Yes. Because the Fed keeps ordering them from the mint because the banks keep ordering them from the Fed because businesses keep ordering them from the banks because their customers keep getting them in change and tossing them into jars (nickels) or the trash (cents).  |
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Bedrock of the Community
United States
17884 Posts |
4 Quote:
The US population is at best 3-4x what it was back in the good 'ol strike days...certainly we can have good quality strikes with less nickels. Do we really need billions each year? 3-4x what we minted in 1960 should be OK. The problem is the coins purchasing power is only about 1/13th what is was back then. In the 50's and 60's coins had enough purchasing power that they were "real money" and so they were used and stayed in circulation. Today their purchasing power is so low that they are not worth carrying and using so most of them are just received in change and then are tossed in jars, trays etc. for a long, sometimes VERY long time. That takes them out of circulation, but the businesses still need them for making change so the Mint has to make more and more of them. Cents are practically a one way coin now mint to Fed to bank to business to consumer to jar. Sometime instead of the jar they are just thrown away. The nickel isn't far behind. It takes about 65 cent to purchase what a nickel did in the early 60's. |
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Valued Member
United States
318 Posts |
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Anything MS-64 and below is "junk?" One Man's junk is another Man's treasure. I spent $35 each for several nickels sent to PCGS to get them back at MS-64 worth around $1 each. I was hopeful on Full Step designation which would have significantly changed that value. |
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Valued Member
United States
206 Posts |
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Pillar of the Community
United States
3207 Posts |
Another factor is the debasement of silver coins that happened in 1965. Rumors that would happen were circulating during the early 1960s, and as a result people hoarded coins in larger quantities than before, yes, nickels too. To keep business supplied with coins the mint had to increase production, and increased production meant decreased quality control. The 1.7 billion nickels the Denver mint churned out dated 1964-D remains the record high quantity, even now some 55 years later.
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Bedrock of the Community
United States
17884 Posts |
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The 1.7 billion nickels the Denver mint churned out dated 1964-D remains the record high quantity, even now some 55 years later. True but they were one, produced during a coin shortage when production was being pushed to capacity. And two, were produced for almost two years. Take several other years production since then (one years date production) and double it to see what you would have if it was made for two years. For example 1999 D they made 1.06 billion. If they froze that date for two year you would have had 2.5 billion (they made 1.5 billion 2000 D's) Admittedly for just about anyother two years you pick the 1964 D would still come out on top, but there would be several cases where it would be close or it would beat the 1964 D. |
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Bedrock of the Community
United States
12477 Posts |
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One Man's junk is another Man's treasure.
I spent $35 each for several nickels sent to PCGS to get them back at MS-64 worth around $1 each. I was hopeful on Full Step designation which would have significantly changed that value. They became "junk" because you made the decision to submit them and didn't get the return you hoped for. They're not junk from the beginning. Quote:I wish, I would settle for an MS63 "junk" nickel any day lol. https://www.ebay.com/itm/1939-DOUBL...!13502!US!-1 That's more to my point, Andy.  Quote:
And two, were produced for almost two years. Yes, not all (or even most  ) 1964 nickels were minted in 1964. The only hoarding I would suspect is of War Nickels. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Replies: 22 / Views: 3,409 |
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Posted 06/02/2019 01:49 am
