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 Replies: 25 / Views: 9,864 |
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Pillar of the Community
United States
2168 Posts |
Well, back in the 1960s as a young child we took all silver coins from our change and saved them (still have them) as well as the silver nickels and wheat pennies. Although I have always put my change in a container, about 6-8 months ago with all the talk of our dollar possibly being devalued, I decided to just keep it all. Any coin will always have the intrinsic metal value. Nickels metal value is about 1 1/2 times the actual value so I have decided to get some rolls. Well, I guess nickels have really been the overlooked coin. I went to the bank and got $20 dollars of nickels. In the first roll I noticed many 50-70 yr. old coins, mixed with current coins. The 3rd nickel was a 1945 P nickel. I was VERY lucky. In the $10 that I went through, 1 buffalo, 1 silver, 1.80 in nickels before 1970. So not bad I don't think. I do see getting some nickels as a cost/risk free investment. I know heavy etc. But a few hundred dollars of nickels (and any numismatic value nickels that may be mixed in a plus) They will never be worth less than a nickel and cost a nickel. I have purchased some silver coins, these as well will never be worth less than face, but cost quite a bit more! Yes, easier to store etc, but if our money truly collapses, those lowly nickels may become the breakout coin for a dime! Just an easy way for anyone to store value at not cost.
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Bedrock of the Community
United States
20753 Posts |
Quote:You should read this, Carl. Maybe this will convince you to save nickels. =] http://www.survivalblog.com/2011/03..._an_i_1.html Read most of that but there are probably many, many articles about saving Beanie Babies, Sporting cards, Flashlights, Red Line Hot Wheel Cars, etc. also. Also, probably many articles on how to make your own credit cards and silencers for your guns. Regardless, I just don't think I'll live long enough to ever see a reason to hoard Nickels. I did stuff like that way, way back and it proved to be a waste. I still say invest in buggy whips. The horse and buggy are going to come back. Look at the prices of gasoline.  |
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Pillar of the Community
United States
2168 Posts |
Yes, but with saving nickels there is no loss factor (except any interest that may have been earned and the trouble of storing them) You can never lose your original investment and already they are worth more than the face value in metal. Yes, I know metal can fluctate, but with the economy like it is, I just feel it's an easy way to keep some money safe. You aren't buying anything like with beany babies etc. I think of all the silver coins I saved back in the 1960s before and after 1965 and glad I have them! Just my feelings of course!
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Bedrock of the Community
United States
20753 Posts |
Quote:
Yes, but with saving nickels there is no loss factor (except any interest that may have been earned and the trouble of storing them) You can never lose your original investment and already they are worth more than the face value in metal. Yes and no to that one. Not only the interest lost if the money is actually saved and invested wiesly. True you will not loose the original cost since HOPEFULLY a nickel will stay a nickel. I just keep remembering myself and a friend hoarding those Bicentennial Quarters back in the 70's. He had thousands and I also had way to many. After about 30 years of saving those we both tried to sell them. Best offer was $0.24 each sort of as telling us no one wants them. All ended up in a bank for face value. Could have bought a 1916D Mercury dime or 09S VDB Cent instead and had something that DID go up in value. Or a 1957 Chevy auto. |
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Pillar of the Community
United States
3592 Posts |
justcarl...too bad about the quarters...I've got a buyer taking all mine for 30 cents a piece.Not big money but since I own vending machines and roll by hand, it's worth it.
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Valued Member
United States
463 Posts |
I due keep some nickels but only if they occur in these two catorgories as you cant really loose anything execpt time from saving them....
1. there pre 60
2. solid date boxes
Those are the only ones I will keep, I have stopped searching boxes as its just so much time involved searching nickels and cents so solid boxes for now only. ITs always nice to have a solid box like 2009p ;)as thats not going to loose any value anytime soon
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Pillar of the Community
United States
601 Posts |
I don't think the intrinsic value of the metal content of our coins can be argued. There's no doubt that silver coins were worth saving, I don't care if they're Canadian or US. There's no doubt that saving wheat cents proved to be a logical idea. There's absolutely no way to argue that Pre-82 copper cents are bringing more than face value on ebay. These are all facts. When the metal content of our coinage changes, it will always be in favor of a less valuable, more economical material. Over the long haul, metal prices DON'T depreciate. Even if you want to argue that they fluctuate in relation to the dollar, it proves my point. Our government removed the gold standard, then the silver standard, then replaced copper with zinc. Do you see a pattern here? Would it have been smart to trade some beat up Indian cents and dateless Buffalo nickels for Gold coin in 1932? Yes. Would it have been smart to have traded all your silver certificates for silver dollars back when you still could? Yes. Are copper pennies openly bought and sold for more than face value? Yes. Is it sensible to trade a piece of paper with the word "Dollar" printed on it for 100 grams of nickels? Golly Carl, I guess only hindsight will be able to tell us.....  |
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Valued Member
273 Posts |
As one who recently turned the "age" corner and ran smack into myself as a senior citizen... with 15 good years or so to go, at the rate of inflation, it's a toss up whether to hoard beans or nickels.
I'm just saying, that if one is collecting for the joy of it, that's one thing. But as an investment or hedge against inflation, there is a plethora of considerations... diversification being one of them.
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Pillar of the Community
United States
2168 Posts |
Yes, I agree, coins, food, basic needs are all things to have a stock of. All are rising in price/value so it can't hurt. If our dollar devalues, any coin will at least have value. Instead of having paper dollars for emergency, why not make some of it nickels or coins! I saved all those silver dimes/quarters/halves back as a child in the 60s and still have them! Nickels have not really been sorted through like pennies (between removing wheat and 95%copper) and dimes/quarters/halves so there are even a lot of older coins in rolls from the bank! I did get a silver on the other day so anything is possible and many before 1970 as well.
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Pillar of the Community
United States
2168 Posts |
To be honest I wasn't even going to check the coins. I was counting just to see if correct amount in the $10 in hand rolled nickels! The 3rd coin was a silver coin which lead me to check the rest and sort!
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Replies: 25 / Views: 9,864 |
First Page
Posted 03/06/2011 4:42 pm
