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 Replies: 75 / Views: 19,787 |
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Pillar of the Community
United States
2168 Posts |
Been there done that. Maybe not quite as many as that so that I think causes the saving of nickels and pennies pre 1982. Can't hurt to keep them.
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Pillar of the Community
527 Posts |
Right now, the only nickels I am keeping are the ones dated 1938-1969 (no 1964's). The reason for this is when the nickel composition is changed, the older dated nickels will be much harder to find in circulation than they are today. I am only 26-years-old, so I hope to have plenty of time to see if the older dated nickels start going up 4X,5X,6X,7X, etc. I mean who knows what's going to happen?
But I will say this: If silver EVER goes back down to around the $10-12 an ounce mark, I likely will cash in my nickels at face value to buy silver.
Edited by TheDanMan
11/22/2011 12:39 am
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New Member
United States
12 Posts |
I'm CONVINCED that silver is going to hit $10, if not lower. Back in the '70s, gold and silver ran a race to the top, with silver almost hitting $50/oz. in Jan, 1980. The bubble popped, and by 1990 it had fallen below $4/oz. The USA is in an economic situation similar to the late '70s (similar, not a duplicate ... there are important differences). If stock prices improve over the next 10 years like they did in the 80s, then the price of silver will plummet.
That is, of course, if the euro doesn't commit hara kiri in the next twelve months. Regardless, I'm saving any extra francs, marks and lire that I come across ... to prevent any bumps in the road during my next trip to Italy.
eamus catuli
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Pillar of the Community
United States
2168 Posts |
The general feeling about the economy and state of the world are Very different then they were in the 1970s. There was not the doom and gloom in regard to our country or our money
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Pillar of the Community
527 Posts |
Quote:
I'm CONVINCED that silver is going to hit $10, if not lower. Back in the '70s, gold and silver ran a race to the top, with silver almost hitting $50/oz. in Jan, 1980. The bubble popped, and by 1990 it had fallen below $4/oz. I know that silver dropped massively in value once, but what makes you so convinced that it will happen again? |
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Pillar of the Community
United States
4989 Posts |
No doom and gloom during the 1970's? You had hyperinflation, gas lines, the Jimmy Carter "days of malaise", Iran Hostage Crises + Failed Rescue Attempt, loss of the Vietnam war, one stock market crash after another, etc... only to be followed by two brutal recessions in the early 1980's.
Also, Soviets invaded Afghanistan and had 5,000 or so nukes pointed at us on a hair trigger. Not fun times.
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Pillar of the Community
United States
2168 Posts |
Yes but not the sense that our currency would collapse. Yes prices rose gas line all that but I have bever felt that our system had the problems of today. I won't write all my thoughts but yes. Read 1984 Brave New World as a reminder. I read those in the 1970s in high school along with a few oother similar and never thought that could ever happen here now seems like we are living some aspects
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Pillar of the Community
United States
5853 Posts |
Quote:
I'm CONVINCED that silver is going to hit $10, if not lower. Back in the '70s, gold and silver ran a race to the top, with silver almost hitting $50/oz. in Jan, 1980. The bubble popped, and by 1990 it had fallen below $4/oz. The USA is in an economic situation similar to the late '70s (similar, not a duplicate ... there are important differences). If stock prices improve over the next 10 years like they did in the 80s, then the price of silver will plummet. I was convinced of this as well, which is why I told my wife it was ridiculous to even think of investing in PM when it gold the absurd height of $1300 earlier this year. Since then, though, I've started to have my doubts, and not just because PM values have continued to increase. The current rise in PM values is distinct from what happened in the late 70s and early 80s in two main respects. First of all, the rise in silver was directly attributable to market manipulation by the Hunt brothers, and as soon as there scheme came to light the market crashed. The current rise can't be so easily attributable to a single event. Second, the rise in PM prices then was very rapid and the fall was equally rapid -- a true "spike" -- whereas PM values have been going steadily upwards over the last 5 years or so. When PM values are stable for 30 years and then suddenly jump 10-fold overnight, that's an aberration that will likely not be sustained. When prices increase steadily over a period of years, however, it just might be an indication that higher prices are here to stay. |
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Pillar of the Community
527 Posts |
I said this back on November 21, 2011: Quote:
Right now, the only nickels I am keeping are the ones dated 1938-1969 (no 1964's). The reason for this is when the nickel composition is changed, the older dated nickels will be much harder to find in circulation than they are today. I am only 26-years-old, so I hope to have plenty of time to see if the older dated nickels start going up 4X,5X,6X,7X, etc. I mean who knows what's going to happen?
But I will say this: If silver EVER goes back down to around the $10-12 an ounce mark, I likely will cash in my nickels at face value to buy silver. I stand by my statement except for a few small changes: 1. I do not save any nickels dated 1962 D. The reason for this is because the 1962 nickels minted in Denver have a much higher mintage number than the 1962 no mintmark's. 2. I do not save any nickels dated 1963-current (excluding 2009). There are still too many of these in circulation and I put them back in circulation to try to find more nickels that are at 50+ years old. When the metal composition of the nickel changes either this year or possibly next year, I still think the older dated nickels are going to be the ones to quickly disappear from circulation. I think for several years to come (unless copper and nickel really skyrocket), you will be able to find nickels from the 80's and 90's, possibly ones from the 70's as well. I hope that one day during my life, these things will be worth at least $1 each. Imagine having $40 worth of nickels in a $1 face value roll and then imagine having hundreds of these rolls!  It's wishful thinking but we shall see. How about the rest of you guys? Are you still saving nickels? |
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Pillar of the Community
United States
2168 Posts |
Yes. I was around as a small child in the 1?60s and who would have thought that they would be worth so much more than face. Can't hurt to keep if you think that the $1 per nickel could happen! They could always be spent if not!
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Pillar of the Community
United States
1406 Posts |
I save nickels. I like to save all my pre 1960 nickels and I also save one roll of each date and mint mark after 1960. Each time I search I always upgrade each date mint roll to the best condition coins, search the poor ones for varieties and then return the culls (or jar the pre 1960 culls). Together with my BU roll set from 2005 to present I have two boxes of 100 tubes to house the collection in.
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Valued Member
United States
67 Posts |
So someone refresh my memory --- Did they change the composition of nickels? if so what year? Out of habit I have always kept any nickels pre1960 -- but maybe I need to extend that a few years?
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Pillar of the Community
United States
2168 Posts |
The metal in nickels has not been changed yet but most likely will shortly due to it costing over twice face to make and distribute them. Also, the dollar coin which offset the cost for nickels and pennies is basically being discontinued for general circulation. Nickels (currently 25percent nickel and 75 percent copper) will surely be changed as well as the zinc penny. Talk of both being steel and coated. Save the real nickels now before they have to be sorted!
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Pillar of the Community
527 Posts |
If the nickel gets a makeover and looks the same as the old ones, it will be more tedious and harder to sort the "new" nickels (which many think will be made out of steel) from their 75/25 counterparts. I'm not sure if I want the "new" nickels and possibly the "new" pennies to look totally different (such as the 1943 steel penny).
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Pillar of the Community
United States
2168 Posts |
Exactly so get them now with no sorting except for the few silver ones. I had read the pennies will be copper coated but who knows
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Replies: 75 / Views: 19,787 |
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Posted 11/21/2011 3:23 pm
