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 Replies: 75 / Views: 19,786 |
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Pillar of the Community
527 Posts |
I do think that collecting EVERY nickel is a bit too much because of how fast they add up. I like the older dated ones because they didn't mint as many of them. Many pre 1960 nickels were minted in the tens of millions, whereas nickels from the 1960's-present are minted in the hundreds of millions, some in the billions; plus pre 1960's nickels are fun to find when coin roll hunting!  |
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Valued Member
United States
78 Posts |
I sort out all the nickels I coin roll hunt, and keep the pre-1960's. The rest have gone back in a box, but not back to the bank yet...Sort of like a savings account at home. If I find I need the money for another investment opportunity, I can easily cash them in as they are already sorted, but if things change I have them already and have started my hoard!
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Pillar of the Community
527 Posts |
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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! I should have said that it is a $2 face value roll, instead of a $1 face value; tomorrow I plan to get some more nickels to sort out. It's addicting and fun! |
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Valued Member
United States
286 Posts |
yes it is fun, I find myself searching a box a day, sadly I am to lazy to re-roll them and cash them in, I probable have $1,500 worth waiting to go back to the bank.  |
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Pillar of the Community
United States
2168 Posts |
Corey, yes I look at it like a little savings as well. Search save the older and rare and just keep the newer that are 50 yrs old (some) as a small savings. If things get bad and nickel appreciates so be it if not so be it no real loss factor in acquiring and keeping them
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Valued Member
United States
410 Posts |
I've just started roll searching nickels. I've gone through 4 boxes do far and I've been surprised how many old coins are still out there. I'm working and a set not hoarding for base metal.
One thing most people that are hording for the metal don't take into account is the alloy. A nickel is 75% copper / 25% nickel. If you look at the metal prices for PURE copper and PURE nickel the metal content is worth slightly more than face value. However, a nickel isn't pure it is a mixed metal alloy. The scrap value of that alloy is worth only a fraction of the pure base metals when the time comes to sell to a scrap metal dealer.
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Pillar of the Community
United States
2168 Posts |
Yes there are Many older nickels still out there. I was originally going to pick up $100 to $200 just to have them. Well the first $20 picked up were customer rolled so I decided to prove them. The 3rd coin was a silver was nickel and there were 3 Buffalo nickes in that first $20 so needless to say I ended up searching all I get! Filling collector books as well. I think the reason for so many older nickels is that for the most part they've never been searched out. Pennies twice for wheat and copper 95 percent and we all know about all the other coins!
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Pillar of the Community
United States
2168 Posts |
Oh forgot the composition. I don't think those that keep and hold on to the nickel really ever hav intent to melt. Its kind of that if everything goes awry the nickel could and would be 'real' money and have worth to be used foe change should silver go back to use. Also, if nickel/copper greatly increase in value, and nickels debased, the nickel could trade as silver coins do now. Its just a chance but what can it hurt since there really is no cost factor or premium. They can always be spent. I realize the 'investment ' loss factor but its not a lot of $ for a possible future value
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Valued Member
United States
410 Posts |
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....but what can it hurt since there really is no cost factor or premium. They can always be spent. I realize the 'investment ' loss factor but its not a lot of $ for a possible future value I'm not sure why you are so quick to discount the "investment" loss. Inflation is real and the continual loss of value caused by inflation is real. While I suppose stacking boxes of nickels under your bed would be better than hiding dollar bills in your mattress, either is likely to be a losing proposition. |
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Pillar of the Community
United States
2168 Posts |
No I am not. I am keeping some,not a great amount just in case. If I don't see any gain oh well. If I do wow! We all should keep some cash so why not have some be nickels! That's all. I don't think I will ever lose that much on a few hundred dollars. Plus no risk. Will always have the face purchased at face. That's all. Every other investment you could lose. Yes you might make $ but might not
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Valued Member
United States
410 Posts |
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.....Plus no risk. Will always have the face purchased at face. That's all. Every other investment you could lose. Yes you might make $ but might not This is the part of your argument that I take issue with. Hoarding cash whether in the form of coins or paper dollars is not risk free. Just because you can exchange the coins for an equal amount of cash at a later date doesn't mean you didn't lose money. You are almost guaranteed to lose money due to inflation devaluing the purchasing power of that cash. For example: A $100 box of nickels purchased in 2000 would only be able to buy $79 worth of goods in 2010. That is a 21% lose even though the nickels were purchased at face and sold at face. |
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Pillar of the Community
United States
2168 Posts |
We just think differently. I would rather have the $100 not spent anyway in 2000 in some nickels. We really should all have some cash available for true emergencies and no harm in the nickels since there is potential for them as well as no premium. Just a chance you take on something appreciating but can never go below face (orig cost). There are not many investments with that guarantee. With your example the $100 in nickels doesn't matter if I couldn't buy the same since I wasn't spending anyway and like the security of some cash. Atms and banks can close for any reason
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Pillar of the Community
United States
1204 Posts |
someone is dumping a big hoard of pre 64's in my banks and the best I could save of it was couple nice 38's and 39's and only 1 1937 buffalo but the rest I'm dumping again my self as I think its pointless save these coins ! I been finding solid rolls of pre 50's in the last month but all common that I been dumping as well !
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Valued Member
United States
410 Posts |
I follow you now. I also have cash on hand in case of an emergency. After the recent tornadoes here in Alabama I doubled the amount of cash I keep on hand. Nickels don't fit that requirement for me though. I want my emergency cash to be readily accepted and very portable so I have a mix of twenties, fifties, and a few hundreds. Nickels are just too bulky for me but it seems they work for you.
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Pillar of the Community
United States
2168 Posts |
Yes just figured what the heck. I as well have the smaller bills like you but thought nickels although bulky can't hurt since they really are the last "real money" mixed in with fiat!
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Replies: 75 / Views: 19,786 |
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Posted 01/17/2012 12:55 am
