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Old 09-19-2011, 01:27 PM
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Default Buying nickels in bulk?



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The nickel coin currently contains 6.5 cents' worth of the metal, give or take. Is anyone storing up on "pre-2012" nickels before the inevitable switch over by the gov't to a cheaper alloy? Seems like a no-brainer to me, and a nice round-out to one's PM accumulation.
Old 09-19-2011, 01:37 PM
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I think the biggest issue with this is getting those PM's out of the nickel for a usable purpose. Not to mention that if the time came where you had to use your PM i dont think the monetary value of the metal in those nickels would still be valuable.

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Old 09-19-2011, 01:45 PM
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it'll be a pain to store them if you someday want a decent payout....very heavy
Old 09-19-2011, 01:46 PM
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Default I did for a little bit...

But then realized that even when they switched over to the slugs. There'd still be plenty of the valuable Nickels in society to snatch up.

On the other side of the argument. If there is a bank holiday and new devalued paper issued. Your coins will most likely NOT be replaced and essentially skyrocket in value. Historically, coinage stays in a new paper issuance.

How much can you afford to store is the real question. Most seem to think that Silver Dimes and Quarters will be the currency after a collapse. Well, pre 1982 Pennys and the current Nickels will have some value too for trade.


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Old 09-19-2011, 01:53 PM
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If there was a massive collapse (shattering the world economy), the value of all industrial metals would plunge.
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Old 09-19-2011, 02:34 PM
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Quote:
Originally Posted by Jack1228 View Post
Seems like a no-brainer to me, and a nice round-out to one's PM accumulation.
Nickel/copper alloy is not "precious".
Old 09-19-2011, 02:40 PM
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Nickel/copper alloy is not "precious".
Maybe it would if you make a ring out it and move into a cave.
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Old 09-19-2011, 02:45 PM
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When I see valid scrap dealer offers for nickels higher than face value it may be worth storing them. If a nickel was plain scrap I would guess it would bring no more than half its current value because of the cost to separate the nickel.

There is a lot of other scrap metal items with a real market and I will take advantage of them over "in theory" scrap value. As long as the law preventing large scrapping of US coins is in effect there will be no market.

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Old 09-19-2011, 04:15 PM
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i hold around 20 boxes or so, $2000 worth, i get them from the bank in $100 boxes. i think they are a no brainer item for me to hoard. i will be adding more once silver gets close to $50, right now im still a silver buyer.
Old 09-19-2011, 04:27 PM
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its also a felony to use a nickel for anything other than $$/defacing money

that said i think your going to need alot of nickles to make a profit
Old 09-19-2011, 04:35 PM
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We're starting to stock up on pre-1982 cents and all nickels. It is going to be just a small part of our preps because of the weight. I looked at $1000 face of cents will be over 700 lbs, while $1000 face of nickels is 220 lbs. The way we're doing it is getting boxes from our local bank, goal is only $1k of each. Just one of several baskets of wealth management. They'll at least be collectibles for our grandchildren.
Old 09-19-2011, 04:42 PM
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It is one way to screw with the government.

We should all pick up a grand each in pennies, nickels, and dimes. Then next year, cash them all in for Quarters. . . .

The government likes to keep changing rules on business, now it is time to change the rules on them. It will drive the Mint crazy.
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Old 09-19-2011, 04:43 PM
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Thanks for all the informative responses. Definitely something to think about!
Old 09-19-2011, 06:36 PM
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There is easier money to be made than 1.5 cents per nickle but heh, knock yourself out nicklemeister
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Old 09-21-2011, 04:47 PM
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We've been saving the nickels and the pre 82 pennies, from my change but we're not going to be buying rolls. We already have a 5 gal water jug about 1/3rd full of pennies and one 1/4 full of nickels, I don’t bother with the 82's cause its a pain to figure if they're good ones or not.
Old 09-21-2011, 05:00 PM
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Quote:
Originally Posted by 9111315 View Post
It is one way to screw with the government.

We should all pick up a grand each in pennies, nickels, and dimes. Then next year, cash them all in for Quarters. . . .

The government likes to keep changing rules on business, now it is time to change the rules on them. It will drive the Mint crazy.
I am so for messing with their heads. I would do it just to see the look on the tellers face.
Old 09-21-2011, 06:47 PM
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I've bought rolls of dimes to look for silver. Its hard. I went through $500 of dimes to find only 1 silver one. I don't this very often, its a lot of work for very little results. I regular keep my 1982 pennies, since they are worth 0.03 cent in cooper (0.02 more than face). Nickels are only worth 0.06 (1 cent above face) so I haven't started saving them yet.
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Old 09-21-2011, 07:59 PM
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Quote:
Originally Posted by socalgirl View Post
I've bought rolls of dimes to look for silver. Its hard. I went through $500 of dimes to find only 1 silver one. I don't this very often, its a lot of work for very little results. I regular keep my 1982 pennies, since they are worth 0.03 cent in cooper (0.02 more than face). Nickels are only worth 0.06 (1 cent above face) so I haven't started saving them yet.
same here very limeted sucess went through about $2000 in half dolars and about 500 in nickels and dimes found little thatwere silver
Old 09-21-2011, 08:10 PM
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This guy says it better. There are worse ways to save like in paper

Mass Inflation Ahead -- Save Your Nickels!

http://www.survivalblog.com/nickels.html
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Old 09-22-2011, 02:15 AM
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I have some nickels but have been focusing more on the 82 and down pennys. A easy way (and fast) to check pennys is to weigh them. Coppers weigh just over 3 grams and the zincs weigh around 2.5 grams.



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