For The First Time In 2011... - Coin Community Forum

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Author	Replies: 6 / Views: 1,014
TheDanMan Pillar of the Community 527 Posts	Posted 09/23/2011 7:52 pm the metal content of a US nickel is less than face value. I have been following the price of nickel and copper all of 2011 and until today, the metal content of the nickel had never dropped below face value. Today it is valued at around $0.0499 cents. The copper penny has even taken a massive dip and fallen to about $0.0218 cents. I assume this dip is temporary, but I am still thinking about cashing in all my pennies and nickels at face value to buy some silver (which also has taken a brief dip at around $30.98 an ounce. If I do cash in my copper pennies and nickels, I will keep all nickels that are at least 50 years old (1961 and older), and for pennies, all that are dated 1959-1969. What do you guys think? Report this Post to the Staff

rachums107 Pillar of the Community United States 3345 Posts	Posted 09/23/2011 8:58 pm Surprising- means stuff is on the move. There should be interesting results Monday. Report this Post to the Staff
VisigothKing Pillar of the Community United States 4778 Posts	Posted 09/23/2011 10:23 pm Interesting.... I thought the nickel's metal value was never going back below it's face value, since it had been up there for so long. But I agree, it's probably just temporary. Report this Post to the Staff
Saruma Pillar of the Community United States 968 Posts	Posted 09/23/2011 10:23 pm I've always thought hoarding copper and nickel was a bad investment idea, so I'm all for you cashing out of it. Silver may be a good buy at the moment because there is starting to be a lot of talk again about a double dip recession and further problems in Europe. When people start thinking the sky is falling is the time precious metals shoot up. Report this Post to the Staff
mitchhailey Pillar of the Community United States 1150 Posts	Posted 09/24/2011 01:40 am Gold and silver sell-offs are due to folks out about a Greece default, and they want cash so they can get out of Dodge if need be (or whatever else they want cash for, i.e. buy food, other investments, etc...). Silver will go back up, so I'm in the 'buy silver now!' group (even with nickels/copper cents). Although I'm a bit of a hypocrite, 'cause I got tons of nickels and I'm keeping 'em. :) Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 09/24/2011 4:10 pm Quote: If I do cash in my copper pennies and nickels, I will keep all nickels that are at least 50 years old (1961 and older), and for pennies, all that are dated 1959-1969. What do you guys think? And naturally you'll put them all on ebay as UNSEARCHED COINS. I'm not a hoader of coins, only a collector so I agree with you to just get rid of all those. Let everyone else find something in those. Report this Post to the Staff
RollHunter Pillar of the Community United States 687 Posts	Posted 09/24/2011 10:44 pm 6 months from now you can buy all your nickels and pennies back for what you sold them for. Silver is likely to be back up or higher in 6 months so if you really want to hoard, you can sell your silver and buy more nickels and pennies than you started with. Not that I think that would be smart ... Report this Post to the Staff
	Replies: 6 / Views: 1,014

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