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Nickel Experts; I'm Curious.....

 
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United States
73369 Posts
 Posted 06/04/2019  10:13 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
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).
Bedrock of the Community
United States
15493 Posts
 Posted 06/04/2019  12:07 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
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.
Gary Schmidt
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United States
219 Posts
 Posted 06/04/2019  12:12 pm  Show Profile   Bookmark this reply Add mikem007 to your friends list Get a Link to this Reply

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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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165 Posts
 Posted 06/04/2019  2:26 pm  Show Profile   Bookmark this reply Add Andy Herkimer to your friends list Get a Link to this Reply

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Anything MS-64 and below is "junk?"


I wish, I would settle for an MS63 "junk" nickel any day lol.

https://www.ebay.com/itm/1939-DOUBL...!13502!US!-1
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United States
379 Posts
 Posted 06/24/2019  7:15 pm  Show Profile   Bookmark this reply Add nick10 to your friends list Get a Link to this Reply
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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 Posted 06/25/2019  10:30 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

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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.
Gary Schmidt
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9816 Posts
 Posted 06/26/2019  02:58 am  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply

Quote:
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.
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-Lucretius

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