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 Replies: 24 / Views: 2,504 |
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Pillar of the Community
United States
3294 Posts |
I would think the costs to a refiner would be much higher for a nickel, at only 75% copper, then for a penny at 95%.
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Pillar of the Community
United States
2168 Posts |
But thet really aren't being kept to send to a refiner. They would nd could be a low denomination form of money if things go bad with fiat money or trade like silver pre 1965 coins are now. Kink of like security. Cn always be spent at face so win win
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Moderator
 United States
189502 Posts |
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The thought of them being melted makes you uneasy, so rather than release them now when it's illegal to melt them, you're going to hold them until some future date when they're legal to melt. Your statement makes the incorrect assumption that I will release them in the future, when it was clearly stated that " I will probably never cash in on that additional value." Yes, I will likely keep them until I die. At that point, my decaying corpse should have no concern about them being melted, so being uneasy is moot. The point is that as long as I have them, they are not being melted. |
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Pillar of the Community
United States
2168 Posts |
And they most likely will not ever be melted but used as a currency or bought and sold like silver 90 and 40 percent are now. I have them just in case our fiat money is inflated. At least the intrinsic metal value not like paper. I have read that many times when currency is devalued coinage is left alone and isn't. So they will never lose value of face at least. Win win in my mind. I was around uring the 1960s when we saved our silver! I know where that went an is still going. At least now at least nickels can be kept at face even though they are value gigher. At least they have a value. Just my thoughts
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Pillar of the Community
United States
1450 Posts |
The other downside to nickels is they are just a fraction above face at melt. Until they reach a multiple they will not become highly sought after in my opinion. The all nickel Canadian nickels are just about 2x face,that is attractive! For instance,if US nickels are worth 6 cents in melt,a roll would only be worth $2.40,hardly worth the energy. At 2x,a roll now becomes worth $4,more worth the effort.
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Moderator
United States
189502 Posts |
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And they most likely will not ever be melted but used as a currency or bought and sold like silver 90 and 40 percent are now... At least they have a value. Just my thoughts Interesting way to look at it, and certainly no harm in making such plans. Worst case, you cash them in at face. Quote:
The other downside to nickels is they are just a fraction above face at melt. One definitely has to look at this as a long term play. Nickels are not for making huge profits today. |
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Pillar of the Community
United States
667 Posts |
 I have no problem with people saving pennies. They are yours do what you want with them. If it were me I would roll the non wheat's and cash them in for silver. If you want you can buy silver junk coins thus helping to save a coin that will probably become much rarer as you age. |
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Pillar of the Community
United States
2168 Posts |
Yes silver is a good choice as well but any cash kept for emergencies is best kept in coin. All have intrinsic value and some actual cash should always be on hand. Just read what happens when ATMs don't work during a storm or hurricane.
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Pillar of the Community
United States
667 Posts |
In that case you would want greenbacks and not your silver coins.
Where I live people still go to the store prior to a large snow storm. The four items that sell out are toilet paper, bread, milk and eggs.
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Pillar of the Community
United States
3294 Posts |
I don't get why nickels would be bought and sold for melt like with silver coins. Think about it like this. For the same amount of wealth that is in a silver dime, right now you need 48 nickels. 48 Nickels weighs as much as 96 dimes, so you need to have almost 100x the weight in nickels as you would in silver coins. Put it this way, it would take 6.5 lbs of nickels for $1 face value of silver. The nickel weight equivalent to that $1000 face bag of silver will weigh more then 3 tons.
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Pillar of the Community
United States
2168 Posts |
Not saying no silve but back in the early 1960s people used silver coins like we use nickels. Yes we SAVED many but would have kept a whole lot more had we known where silver woul be today. Yes you can buy silver coins at maany times face and I have but nickels and copper pennies can be kept at face value now! We all I hope keep some cash round and why not some with a vlue attached. No arguemnt if someone doesn't think the same more nickels and coins for those that do
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Pillar of the Community
United States
2168 Posts |
I guess I jut remember being a very small child keeping the silver and sheat pennies and see that something sinilar is going on today so why not keep some! Never b worth less than a nickel or what ever you keep! Always the chance of some silver as well in those rolls as I have found out
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New Member
United States
46 Posts |
Not sure. Looks like a mediocre way, heavy, hard to store...
I tried an got just a meager $20.00 in Pennies yesterday.
Sorted all today and got a good chunk of pre 1982 coming out to $5.08 FV... Also $0.29 Candian Cents and $0.76 dated 1982
Wheats found: (Total 12)
1914 (1)
1942D (1)
1944D (1)
1945 (1)
1951 (1)
1953D (1)
1956 D (1)
1956 (4)
1957 (1)
Not a clue about the Wheats.
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Rest in Peace
United States
9104 Posts |
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I don't get why nickels would be bought and sold for melt like with silver coins Been doing it since I was a young teen. Are you counting the value of the nickel content? |
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Pillar of the Community
United States
2168 Posts |
I guess many aren't aware that when silver was removed basically it was because the value of the coin ( dime quarter and half) was beginning to bee more than face. Just like nickels and the pre 1982 pennies are now. So ibn theory nickels and pennie are worth keeping just in case! No loss. They will always be good for face. If our dollar keeps becoming worth less and less those nickels and pennes more than likely will not.
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Posted 08/17/2011 08:48 am
