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 Replies: 45 / Views: 4,694 |
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Pillar of the Community
United States
2168 Posts |
Much of the idea of holding on to nickels is that if fiat crashes and PMs soar, something like the nickel could be used for lesser cost items or to make change. It's just that it is 'real' money and really no premium not. It is felt that once debased they may trade over face. Currently the pre1982 pennies are sold on ebay for more than face. Its just an easy way to maybe keep some real $ if the paper crashes. They can always be spent. Paper is paper and nickels and pennies as well as really any coin has some intrinsic value |
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Pillar of the Community
1028 Posts |
If our fiat currency crashes and PMs soar, you will have a nickel that may be worth more than 5 cents, but can still only be used as a devalued 5 cents. Those who are buying copper cents on ebay need to have their head examined. Those who, in theory, would be doing the same with nickels would be just as dumb. Doomsday scenarios where banks and governments are gone and we are trading goods and services for metals of intrinsic value are ridiculous. |
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Pillar of the Community
United States
4008 Posts |
Quote:
Those who, in theory, would be doing the same with nickels would be just as dumb. Somehow, I don't think that it is up to anyone to decide what is dumb in the collecting world for someone else. If those who collect pennies and nickels enjoy the pursuit, more power to them. It's not my thing but so what? A lot of collecting aspects are not my thing. That does not invalidate them. Quote:
Doomsday scenarios where banks and governments are gone and we are trading goods and services for metals of intrinsic value are ridiculous. Yes, they are... they really are... until they happen, that is. Of course, those who are impressed by the financial wizards of Wall Street and the political wizards of DC probably have no doubt whatsoever that the future will be just peachy keen. |
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Valued Member
United States
321 Posts |
What dates, other than war era, do people save aside?
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Pillar of the Community
United States
2168 Posts |
To be honest I save all! I have kept out prior 1960 separate plus I am filling collector books for my grandson. I think a nickel has value unlike paper money
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Valued Member
United States
410 Posts |
Quote:
Much of the idea of holding on to nickels is that if fiat crashes and PMs soar, something like the nickel could be used for lesser cost items or to make change. It's just that it is 'real' money and really no premium not. It is felt that once debased they may trade over face. Are nickel and copper really precious metals? They are quite common metals used in industry. As an industrial metal their value is based on supply and the demand. If fiat currencies collapse we will be in a major recession or depression. Demand for industrial metals will collapse as will the price. Suddenly a $0.05 nickel is worth a fraction of that value not even taking into account the spread between spot price and scrap price. Quote:Currently the pre1982 pennies are sold on ebay for more than face. Its just an easy way to maybe keep some real $ if the paper crashes. It is my understanding people collect copper cents based strictly on the spread between face value and metal value They are betting that some day congress will allow the melting of cooper cents and they will make money selling them as scrap. Pennies are #2 scrap copper. |
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Valued Member
United States
493 Posts |
The nickel hoarding fad is not as popular as the penny hoarding fad. As long as it costs money to dig these metals out of the ground they will retain value.
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Pillar of the Community
United States
684 Posts |
Hey I'm an idiot. I have half a dozen boxes stashed (on joists). Will probably buy more.
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Pillar of the Community
United States
2168 Posts |
Me too! They will always be a nickel and if value goes up traded. Nothing to do with melting. Copper pennies are bought and sold for their value at over face. No one said it was a PM anyway just a value of face or more. Can't be said of other US current $
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Bedrock of the Community
Australia
21788 Posts |
swrbxxx: I agree with you re 1981 and earlier Canadian nickels.
I suppose that the cheapest way of of obtaining them is to extract them from circulation.
Which brings me to a question:
How easy is it to find them in circulation at this point in time?
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Valued Member
United States
410 Posts |
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As long as it costs money to dig these metals out of the ground they will retain value. I don't dispute the idea the metals have value. I dispute the idea that in a currency collapse industrial metals like nickel, zinc, and copper would increase in value. |
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Pillar of the Community
Canada
834 Posts |
Sel_69l,
For every $100 box of Canadian nickels I go through I roughly pull $10-$20 FV of pre 1981 nickels. There becoming a bit more scarce but there is still alot out there in circulation
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Pillar of the Community
United States
667 Posts |
I find if I use my hydraulic press to flatten a nickle then bore a hole through it, they make great washers for the farm machinery. They don't rust, so yes I save a few nickles. Since I can make them a little fatter than a regular washer they wear better too. They are cheaper than buying new washers which is a plus.
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Bedrock of the Community
Australia
21788 Posts |
swrbxxx: Obviously makes it profitable exercise, especially when they don't need refining!
Silver Rounds?
How about Miniature Nickel Rounds? (or perhaps Miniature Nickel 12 Siders?)
Toss any unc Tombacs my way, if you can! I'll accept those rejects any day!
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Pillar of the Community
United States
2168 Posts |
I think everyone has different ideas on nickels so I hope we have helped the OP out!
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Replies: 45 / Views: 4,694 |
First Page
Posted 12/08/2011 11:35 pm
