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 Replies: 13 / Views: 8,467 |
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Valued Member
United States
223 Posts |
I find 1964 nickels all the time. I understand why there are so many '65 dimes and quarters, but that doesn't apply to nickels.
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Pillar of the Community
Canada
2805 Posts |
From what I've heard, there was an unopened BU roll craze, as lucrative sales of well-preserved old coins were publicized. Everyone thought "the resale value of today's coins will also be huge in the future!", leading to a hoarding epidemic that was met by greater and greater production, until the bubble finally burst with nickel mintages breaking 1,000,000,000. Today, these coins are hardly worth anything.
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Moderator
 United States
23522 Posts |
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Bedrock of the Community
13014 Posts |
Leave it to the government to blame one of their cash cows for a shortage.
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Valued Member
United States
315 Posts |
Could just be regional. I find twice as many 2012 pennies than any other year, for example.
Edited by Superhal
11/04/2013 05:01 am
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Valued Member
 United States
223 Posts |
I also find a LOT of 1965 quarters, along with many '66-'69s.
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Valued Member
United States
186 Posts |
just like superdave said ...... the 1964 date freeze also applied to pennies and nickels too
the article says that 1964 nickels were made almost 2 years up until 12/29/1965
plus with the coin shortage at the time .... the presses were working overtime
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Rest in Peace
United States
3039 Posts |
Not so fast nalaberong. Check the price guides for 1964 5c MS 65 w/FS.
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Pillar of the Community
United States
1053 Posts |
Quote:
the 1964 date freeze also applied to pennies and nickels too really...  never knew that. |
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Valued Member
United States
223 Posts |
Were they really hoarding brand new common nickels THAT much that they had to mint 250 gazillion 1964 nickels?
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Pillar of the Community
United States
2270 Posts |
I think the real reason is that the coin shortage was primarily caused by people hoarding silver. This is the general public that was hoarding it as a result of the government announcing that silver supplies were running short. The general public is not very sophisticated and the more appropriate course of action would have been to cash in their coins and buy silver. But instead this hoarding manifested as large numbers of people just not redeeming their coins on as regular a basis as previously. As this aggregate stash of coins increased all coins experienced shortage and this was most acute in nickels which had the highest velocity and pennies which had a high velocity compared to the number in circulation. Concurrently half dollars were being sucked into a black hole because everyone wanted the new Kennedy coin.
This whole problem was created by government and blamed on collectors. Of course a couple other trends also contributed to the problem but collectors were not a significant factor.
The government created a large number of nickels (and cents) so they could concentrate on dimes and quarters when the metallic composition was changed. It worked quite well as you'll see if you look at all these relative mintage. By making extra nickels they essentially avoided putting even more silver in circulation. This allowed them to retrieve about 20% of the circulating coinage in '68 and '69 when it was actually worth more than face value.
Time don't fly, it bounds and leaps.
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Bedrock of the Community
United States
20753 Posts |
It was a test by our government to see how irritated a coin could make people.
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Valued Member
United States
396 Posts |
When looking through boxes of nickels I usually find about a roll and a half of 64's. (I never separate them by mint.) I've actually made up rolls of 64's and have deposited them with my bank.
Over the last couple of years I've actually saved a few of them that had steps.
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Valued Member
United States
223 Posts |
I would be a happy camper if I collected the damned things. My cutoff date is 1960, so I usually just spend 1964 nickels if I get them.
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Replies: 13 / Views: 8,467 |
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Posted 11/04/2013 12:17 am
