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-   -   Anyone storing nickels? (http://www.calguns.net/calgunforum/showthread.php?t=671198)

Gabriel80 01-04-2013 10:52 PM

Anyone storing nickels?
 
I'm sure many of you have heard about this concept of storing nickels now. The government is researching ways to mint a less expensive 5 coin, probably using stainless steel.

The idea is store nickels now and in a few years they will/might be worth 10-25 each.

Here is more detailed link, read the comments for an even MORE details:
http://www.thesurvivalistblog.net/ma...-your-nickels/

Personally I'm a renter, moving and storing nickels is a pain and the return is too small for all the trouble. I will store some silver bullion and ammo instead.

However I still think the idea is neat and to each their own.

One more link about this ordeal and Obama from CNN
http://money.cnn.com/2012/02/15/news...kels/index.htm

What do you guys think? Yea or neigh?

jmsenk 01-05-2013 12:05 AM

I have a sock full of them next to my gun in the night stand - it is the less lethal option.

cannon 01-05-2013 7:37 AM

It's my retirement plan. ;)

4DMASTR 01-05-2013 8:06 AM

Got a jar for Pennies and a jar for other change. Its more emergency/laundry money than an investment though

Gabriel80 01-05-2013 10:15 AM

the hope of doubling your money sounds good, but if it's only turning $1000 into $2000 over several years sound like a pain. There is some eccentric Texan who bought a million dollars in nickels saying they are already worth 6.8 each.

http://www.dailymail.co.uk/news/arti...it-crunch.html

If SHTF all I'm going to want is some ammo and some nails! ha!

chris 01-05-2013 1:38 PM

Quote:

Originally Posted by jmsenk (Post 10114936)
I have a sock full of them next to my gun in the night stand - it is the less lethal option.

as long as it's not the "happy" sock";)

winnre 01-05-2013 2:01 PM

Quote:

Originally Posted by chris (Post 10118676)
as long as it's not the "happy" sock";)

I'll just leave this here.... http://www.ncbi.nlm.nih.gov/pubmed/12835498

cdtx2001 01-05-2013 3:23 PM

If storing nickels is a way of making more money then I've got a bridge to sell ya.

Saving nickels is like saving paper dollars. If nickels were made of some sort of valuable metal I might consider it but they're just as worthless as their big brother paper dollar.

Heatwrench 01-10-2013 6:45 PM

Nickels are worth stashing around since they are worth more in metal content than face value. Although it is presently illegal, it almost inevitable that following a debasement that the law will change, and there will be large scale nickel melting. I only have a small stash since I tend to move every 3 years.

Storing Nickels:
Are you doing due diligence with nickels? As many LRC readers know, nickels are the only real "money" being distributed by the U.S. Government at this point in time. The value of the metal in a nickel equals the fiat value assigned to it by the state. This cannot be said about the currently produced pennies, dimes, quarters, or half dollars and certainly cannot be said about the paper money or the even more insidious and plentiful computer digit money that we are forced to use. Nickels are uniformly marked, impractical to counterfeit, and easily recognizable for their metallic content (75% copper, 25% nickel).

http://lewrockwell.com/orig13/hathaway2.1.1.html

In a post-Dollar Collapse economy, when $1 in silver coinage again becomes the equivalent of a day's wage for man (just as it was before WWI), people will still need to make change for small purchases. I believe that real "Nickel" nickels will fill that role, nicely. (However, if silver zooms up in value in the midst of a Depression wherein most heavy industries are shuttered, then it may take 100 or 200 nickels to equal the value of $1 in pre-1965 90% silver coins.)

TigerShark 01-10-2013 9:03 PM

I've got thousands of nickles.
They started off as dollars before the whole obama "Hope and CHANGE thing"

wjc 01-11-2013 9:37 PM

Don't knock it guys!

I've got a 5 gal. water jug full of change and I've pulled $1000.00 dollars out of it for the grocery store buy back.

manuelcardenas77 01-11-2013 9:49 PM

So nickels are the new gold???

Gabriel80 01-11-2013 10:33 PM

Nickels are the new junk silver 90% dimes. And silver is the new gold. But what is gold?!? Ha

TigerShark 01-12-2013 5:53 PM

You could drill a hole in a nickle and use it as a fender washer (it won't rust).
Destroying US money however is illegal unless you are obama and just destroying the value of money.

Baconator 01-12-2013 5:54 PM

I'm smuggling plums.

Whoneedsafety? 01-18-2013 4:19 PM

Quote:

Originally Posted by jmsenk (Post 10114936)
I have a sock full of them next to my gun in the night stand - it is the less lethal option.

Freakin' hilarious

BlackJack 01-18-2013 4:29 PM

And here I am saving pennies made before 1981 for their copper content....time to save nickels too.

glockman19 01-18-2013 5:32 PM

Unless there is a Precious metal content coinage is worthless.

eeeeman 01-18-2013 5:50 PM

But Nickels are Cool

Picasso2 01-19-2013 10:35 AM

Quote:

Originally Posted by eeeeman (Post 10249752)
But Nickels are Cool

I like the one with buffaloes on them.

I'm storing some of those...
and some silver ones from WWII.

BOOGIEMAN 01-19-2013 10:43 AM

Ammo is the new gold! Just keep locating more and stash 'em as much as you can. Obummer is working on his third term.You'll see!:7:

dynamomark80 01-19-2013 11:24 AM

they have the idea with the penny. minted before a certain date, these pennies have more copper then the pennies they mint now and are worth more then 1 cent in the weight of the metal itself.

so some group of guys have a deal with armored car companies to count/sort the money/deposit/provide change for the customers they transport money for. in the process they weed out the older copper rich pennies for storage and because it is illegal to destroy currency as of now. BUT there is talk of getting rid of the penny so if that ever happens these guys are said to have millions of dollars in valuable copper stashed away in pennies. yeah thats a lot of pennies to be sitting around but they intend to cash them in for the price of the metal when they are allowed to. I hear its a pretty good rate of return if copper prices hold.

Jeepers 01-19-2013 11:28 AM

Quote:

Originally Posted by glockman19 (Post 10249573)
Unless there is a Precious metal content coinage is worthless.

is copper, zinc and nickle now worthless ?
may not be worth face value at the moment, but there is value in coin melt ....
http://www.usacoinbook.com/coin-melt-values/

LCU1670 01-19-2013 11:33 AM

My dad was a banker when they switched the coins from silver, man there was a run on coins before the change. even the bank was sending them for scrap versus face value after the change. He was a new employee back then, and at night he would have to sort the change by hand to pull out the old silver, all for min. wage!

4runnin 01-23-2013 8:27 PM

Too bad they fixed this, it had a higher return then saving nickels ;) http://thepointsguy.com/2011/07/rip-...f-the-us-mint/

kaligaran 01-23-2013 9:27 PM

I don't go out and purchase coins to store. But I do look through my coins at the end of the day. If I have any nickels, 1964 or older silver or 1982 or older pennies they go into a jar.

That's about it.

1GunLover 01-23-2013 11:23 PM

100lbs of Nickels and about 200lbs of Pre 82 Pennies ;)

Nickels are worth more than face value as it is right now so start saving.

redrex 01-24-2013 4:40 PM

Here is the site you need: http://www.coinflation.com/

Pennies are where the real money is right now. 1982 1/2 or older pennies are almost pure copper. The melt value of a copper penny is about 2.5 cents. The melt value of a nickle is about 1.04

The reason that nickels are valuable is because people think that nickle is about to go up in value like copper did and because the US is about to change or even discontinue the nickle. Also you can just go out and buy a block of nickles and then put them in your safe. Very little effort.

Pennies though are the real treasure trove as you can still get pre... ok I'll call then '82 pennies but the truth is that half way through 1982 is when they changed to zinc. But you will hear people say pre 82 when they mean copper pennies. So these coins are still very much in circulation, some of them quite old.

Every payday I go to the bank and get $100 in pennies. I ask for only customer rolled coins. That means coins that people have collected themselves and then turned into the bank thus guaranteeing that you won't get a whole box of fresh from the mint coins. In fact I've found that I get about 20%-25% pre '82 coins this way.

Sorting, so going through a bunch of pennies by hand sucks. You can weigh them and I did do this for a while but even that takes stupid amounts of time. There is a company that makes a professional coin sorter but it costs $500. But then I found THESE GUYS. This is the same coin tester that is used in video games and vending machines. You put a sample coin in and then run coins through it. If the coin matches it kicks it out to the right if not, to the left. I bolted it to the top of a 5 gallon bucket, I then put a smaller 1 gallon bucket in that on one side. Good coins end up in the 1 gallon and the other coins end up loose in the bottom of the 5 gallon bucket.

I keep the pre '82 coins and everything else gets rolled and goes back to the bank. And no, I take them to a different bank so I don't ever end up getting my own coins back :)

Still this takes time, luckily for me I turned then into a game for my kids, they LOVE it. Then after the copper coins are sorted then spread them out on the table and go through them looking for wheat pennies or anything odd. I found one penny that was worth $42 dollars.

Why do this? Copper prices are just going up and up. If they kill off the penny they might be worth more as just collector pieces. And in a TEOTWAWKI situation all of the people collecting silver, much less gold are going to have an issue. Would you give a silver piece for a loaf of bread? No, back in the day, copper pieces were the common currency and would be again. And my parents thought playing D&D was a waste of time :)

Linh 01-24-2013 8:03 PM

Gosh all that sorting just sounds like a waste of time. I'll just stick to investing. Today Netflix went up 42%. Pretty nice so I sold.

DanM 01-27-2013 3:06 PM

I saw a show a few years ago someone back east had opened a warehouse for the express purpose of allowing banks and others to store pennies in mass quantities in speculation that the government would someday allow them to scrap them for the copper, at the time they had millions of dollars stored (face value).

dankthetank 01-28-2013 11:13 AM

Quote:

Originally Posted by redrex (Post 10309560)
Here is the site you need: http://www.coinflation.com/

Pennies are where the real money is right now. 1982 1/2 or older pennies are almost pure copper. The melt value of a copper penny is about 2.5 cents. The melt value of a nickle is about 1.04

The reason that nickels are valuable is because people think that nickle is about to go up in value like copper did and because the US is about to change or even discontinue the nickle. Also you can just go out and buy a block of nickles and then put them in your safe. Very little effort.

Pennies though are the real treasure trove as you can still get pre... ok I'll call then '82 pennies but the truth is that half way through 1982 is when they changed to zinc. But you will hear people say pre 82 when they mean copper pennies. So these coins are still very much in circulation, some of them quite old.

Every payday I go to the bank and get $100 in pennies. I ask for only customer rolled coins. That means coins that people have collected themselves and then turned into the bank thus guaranteeing that you won't get a whole box of fresh from the mint coins. In fact I've found that I get about 20%-25% pre '82 coins this way.

Sorting, so going through a bunch of pennies by hand sucks. You can weigh them and I did do this for a while but even that takes stupid amounts of time. There is a company that makes a professional coin sorter but it costs $500. But then I found THESE GUYS. This is the same coin tester that is used in video games and vending machines. You put a sample coin in and then run coins through it. If the coin matches it kicks it out to the right if not, to the left. I bolted it to the top of a 5 gallon bucket, I then put a smaller 1 gallon bucket in that on one side. Good coins end up in the 1 gallon and the other coins end up loose in the bottom of the 5 gallon bucket.

I keep the pre '82 coins and everything else gets rolled and goes back to the bank. And no, I take them to a different bank so I don't ever end up getting my own coins back :)

Still this takes time, luckily for me I turned then into a game for my kids, they LOVE it. Then after the copper coins are sorted then spread them out on the table and go through them looking for wheat pennies or anything odd. I found one penny that was worth $42 dollars.

Why do this? Copper prices are just going up and up. If they kill off the penny they might be worth more as just collector pieces. And in a TEOTWAWKI situation all of the people collecting silver, much less gold are going to have an issue. Would you give a silver piece for a loaf of bread? No, back in the day, copper pieces were the common currency and would be again. And my parents thought playing D&D was a waste of time :)

I do this but on a smaller scale. I try to get $25 each payday, but I sort by hand so I can look for doubles, interesting looking coins, etc. And since I only pull smaller amounts I don't worry about re-rolling, I just go to coinstar and cash in my coins for an amazon giftcard (no fee for GCs). My rate is probably around 20%, so you're at a bit of an advantage with those hand rolls. But YMMV

OHOD 01-28-2013 11:19 AM

Melt value for $1 in nickels is $1.04.

:shrug:

OHOD 01-28-2013 11:22 AM

Pennies, dimes, nickels, quarters, halves and $1 coins are all fractional FRN's.

They never had intrinsic value, never will.
The only metal that is true money is either gold or silver.

redrex 01-28-2013 11:33 AM

Quote:

Originally Posted by OHOD (Post 10347147)
Pennies, dimes, nickels, quarters, halves and $1 coins are all fractional FRN's.

They never had intrinsic value, never will.
The only metal that is true money is either gold or silver.

Not quite true. The pennies I'm collecting, pre '82, are almost pure copper.

They have a melt value of 240% of face. METAL VALUE OF COINS

That is not only an intrinsic value but a hell of a profit margin. They may not be as pretty or easy to stack as your interlocking silver bars but they add up just the same and should the SHTF will be a hell of a lot easier to use to day to day things.

Futurecollector 01-28-2013 7:52 PM

Are ne nickles still 100% nickle?

M1NM 01-28-2013 9:02 PM

Gonna steal a big twin from the local airport. Load up all my dried food and guns/ammo and head to a friends airport in Northern Nevada. Haven't flown in about 4 years but it's just like ridding a bike. One trip down the runway and 15 minutes in the air it'll all be good.

Sunday 04-22-2013 8:01 PM

Quote:

Originally Posted by M1NM (Post 10353314)
Gonna steal a big twin from the local airport. Load up all my dried food and guns/ammo and head to a friends airport in Northern Nevada. Haven't flown in about 4 years but it's just like ridding a bike. One trip down the runway and 15 minutes in the air it'll all be good.

Isn't landing the hard part?

slo5oh 04-23-2013 11:43 AM

Quote:

Originally Posted by OHOD (Post 10347147)
Pennies, dimes, nickels, quarters, halves and $1 coins are all fractional FRN's.

They never had intrinsic value, never will.
The only metal that is true money is either gold or silver.

You prove yourself wrong. Dimes, quarters, halves and even nickels had silver content in assorted years. This makes them real money.

Btw, thank you Redrex for the detailed penny post.


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