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Well, I've Come To The Decission Of Keeping US Nickels

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Pillar of the Community
Ben's Avatar
United Kingdom
4208 Posts
 Posted 04/01/2013  05:32 am  Show Profile   Bookmark this reply Add Ben to your friends list Get a Link to this Reply
If you guys could mint them for less than 5c (and that is probably not possible anymore) out of, say, zinc/nickel plated steel, then why not lift the melt ban? The mint would make money replacing them.
New Member
Blue-M's Avatar
United States
33 Posts
 Posted 04/01/2013  06:55 am  Show Profile   Bookmark this reply Add Blue-M to your friends list Get a Link to this Reply
I am surprised that no one has mentioned this. Hoarding nickels without the prospect of selling them at a premium is a money losing proposition because of inflation. Your $100 worth of nickels will drop in value each year with the rise in inflation. Even hoarding copper pennies could eventually become a money losing proposition unless you melt them illegally with the assumption that the government can't trace the copper. My personal opinion is that hoarding coins is similar to investing in metals that you hold at your home with the exception that the coins have a minimum value as currency if the value of the metal drops below the face value of the coin and that the coin has not been demonitized. Sometimes you win and sometimes you lose with te gambles you take on speculating. I hope all of my copper pennies that I have get me more than face some day. As far as nickels I'm not so sure the gamble is worth it but I do keep all the lewis and clark nickels that come my way.
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ThisIsFun's Avatar
United States
2480 Posts
 Posted 04/01/2013  07:13 am  Show Profile   Bookmark this reply Add ThisIsFun to your friends list Get a Link to this Reply
Along the same lines as Blue-M...

While I'm having a great time sorting through my grandparents vast accumulation of old US coins, it might have been worth more today if they'd just put that money in a savings account with compounded interest. And most of the collection is silver-- not nickel or copper, which is what this thread is about. If you're saving cents and nickels as an investment... bad investment.

There are a few key dates in our collection but probably not enough high value coins to offset the loss of compounded interest.
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icollectyoubuy's Avatar
United States
213 Posts
 Posted 04/01/2013  09:27 am  Show Profile   Bookmark this reply Add icollectyoubuy to your friends list Get a Link to this Reply
I've started saving them myself. Even if they aren't worth much in the future, there still isn't much to lose from keeping change.
Pillar of the Community
United States
2168 Posts
 Posted 04/01/2013  11:52 am  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
I agree. With interest rates so very low, not worth having in the bank. Look at Cyprus. Many think it could never happen here, we don't have a crystal ball and you never know. They will always be worth a nickel so you can never go below it. If you buy stocks or silver the value can go down. Just my thoughts all think differently. If everyone was saving nickels there would be less for those of us that really want to keep what we can.
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basebal21's Avatar
13014 Posts
 Posted 04/01/2013  3:22 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
If you buy stocks or silver the value can go down


Same with copper pennies or the melt value of nickels, theyre all based on commodities.

I understand the Cyprus fear too, you cant say something would never happen here. BUT honestly I dont see how pennies or nickels would help, most places dont even let you make small purchases in pennies much less lugging bucketfuls in
Pillar of the Community
United States
2168 Posts
 Posted 04/01/2013  3:45 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
I guess it is because they are the only 2 pieces of our fiat money with an intrinsic value basically equal to or more than face. That's all. They are worth their face. only ones well of course except the silver coins. Just what some have decided to do. If everyone thought so and did so they, like pre 1965 silver would be gone asap! Some people think if the monetary system collapses the nickels (easier to accumulate) and pennies (have to pick through them and more bulk and trouble ) will at least have some intrinsic value. Paper will be good for burning. there is no premium now on the nickels and pennies unless you buy for a company out west (can't recall the name) or on ebay for pennies.
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