Nickel Experts; I'm Curious..... - Page 2

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Author	Replies: 22 / Views: 3,417	Page: of 2

jbuck Moderator United States 189340 Posts	Posted 06/04/2019 10:13 am 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). Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 06/04/2019 12:07 pm 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. Report this Post to the Staff
mikem007 Valued Member United States 318 Posts	Posted 06/04/2019 12:12 pm Quote: 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. Report this Post to the Staff
Andy Herkimer Valued Member United States 206 Posts	Posted 06/04/2019 2:26 pm Quote: 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 Report this Post to the Staff
nick10 Pillar of the Community United States 3207 Posts	Posted 06/24/2019 7:15 pm 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. Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 06/25/2019 10:30 am Quote: 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. Report this Post to the Staff
spru Bedrock of the Community United States 12477 Posts	Posted 06/26/2019 02:58 am 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. In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024 Report this Post to the Staff
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