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 Replies: 45 / Views: 4,696 |
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Pillar of the Community
United States
2168 Posts |
I did just read an article that a bill was presented in Congress to change the metal content of both nickels and pennies to steel. With both costing more to mint than their worth I'm pretty certain that the chang will be soon. If you want nickels that are 'nickel 25 percent' and not want to search and pick out the real ones better start to collect.
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Valued Member
344 Posts |
JSH, while industrial metals may and probably would not increase in actual value in a economic collapse. The would comparatively increase in value.
For instance lets say you can buy a pound of copper for 20 USD today. If inflation sets in and it takes 100 dollars to buy monetarily what used to cost 20 dollars of course the industrial metals market will move on par. Its not like all of a sudden theres 5 times as much money out there but you can still get copper for 20 a pound. No if theres 5 times as much money then copper prices will go up 5 times as much as they where.
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Pillar of the Community
United States
2168 Posts |
I think the bottom line with the nickel and wven copper pennies is that they are made of something of value not like paper money that's not even backed by anything but the faith and trust of the govt. Anyway to those of us keeping their nickels its just that. They have intrinsic value.
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Pillar of the Community
United States
2168 Posts |
And now more talk of changing the nickel as well as penny content to steel. Has to do with the fact that the dollar coin minting which basically supports the loss on nickels and pennies going to be cut dramatically so the mint has to do something to counter balance since both nickels and pennies cost more than face to make
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Valued Member
United States
113 Posts |
Quote:
A box of $100 in nickels roughly weights 20 pounds
100 boxes would be 1 standard ton, so with a $10,000 investment you will have 1 standard ton why bother with "roughly?" A $100 box of nickels is exactly 10 kilograms (nickels are 5 grams each)! 100 boxes of nickels would be 1000kg, 1 metric ton, exactly. That is actually closer to 2200 pounds, not 2000. ... plus the cardboard in the boxes.  Edited by samboyellowsub
12/26/2011 05:43 am
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Rest in Peace
United States
9104 Posts |
Quote:
Even long term CDs over the course of 50 years would probably put you in a better place now than having saved those coins....even with the price of silver where it is today.
When people debate selling some common coins, they'll often ask "what will these likely be worth in the future?" I point out "it took 50 years for them to double in value, do you want to hang around another 50 years for them to double again?" |
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Pillar of the Community
United States
2168 Posts |
I guess this could go back and forth. Those thinking a good idea may keep some those that don't won't. Yes may take a long time to benefit but a real source of a type of security for others. I truly didn't realize the intrinsic value left in nickels. I was around in the sixties and not all those around then saved some silver. Didn't realize the potential future. Yes maybe could have spent it or done other things but didn't for a little security and sentimental thoughts. But had the silver all these yrs and still do and now with the economy the way it is and worthless paper for m$oney that few hundre in silver sure feelss good to have. Maybe nickels will do the same maybe not but better to have a few boxes of nickels than a few pieces of paper. Less likely to spend like paper either. To each his own!
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Pillar of the Community
United States
667 Posts |
Edited by mkfarm
12/26/2011 5:39 pm
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Pillar of the Community
United States
2168 Posts |
The article doesn't come up for me but I have read of this guy and he is a gold in hand and guns hedge fund investor and supposedly very well off. I think he was on the Cobert Report about 9 or so months ago telling of the $1 million in nickels. Guess he thinks a good hedge!
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Rest in Peace
United States
9104 Posts |
At least he's doing it on a scale where it could be profitable. I suspect vault fees will mean Brinks comes out the winner.
Regardless, he puts his money where his beliefs are.
Edited by biggfredd
12/26/2011 5:52 pm
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Pillar of the Community
United States
2168 Posts |
Yes I think any of us holding on to nickels (or anything of potential value) does it because we believe in it. He just has a LOT of $ and can invest $1million in nickels
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Rest in Peace
United States
9104 Posts |
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I was around in the sixties and not all those around then saved some silver. Didn't realize the potential future. That's because for decades, there was no potential. The gubmint would buy or sell any quantity of silver for $1.2929, so there was no advantage to having a pile of silver, when any amount was a wire away. |
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Pillar of the Community
United States
2168 Posts |
Yes but having it still makes some of us feel better. Yes price was low and now its not you never know what may or may not happen. No one has a crystal ball so keeping something of value is all in the eyes Of the beholder. And yes I could have sold it when silver was up to $50 and made $ back then and may have if I had a crystal ball to let me know it would crash back down and I could have rebought for a lot less. Just like in the spring of this year I could have sold. But what woud have happened if it kept gOing nd I had worthless $s. I would rather have the silver personally
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Pillar of the Community
Canada
834 Posts |
a $3 drop today
OUCH!
Your american nickels are now worth more in face value than metal content
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Pillar of the Community
United States
2168 Posts |
But worth something. All Metals took a big hit. But that's the beauty of the nickel. It is still worth a nickel if metals tank and if they go up only costs a nickel so worth having
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Replies: 45 / Views: 4,696 |
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Posted 12/18/2011 05:22 am
