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 Is sorting nickels worth it compared to pennies?
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garnede
Penny Collector Member


USA
386 Posts

Posted - 12/16/2009 :  16:30:06  Show Profile Send garnede a Private Message
I have only been sorting for about a month. I don't have a lot of extra money to go get 1000 at a time to check. I usually get 100 at a time. I have checked a little over $400 in pennies, and $200 in nickels. For pennies I have found 20-26% copper cents plus a wheat per 6 rolls. I have also found 10 dimes and a 6 foreign coins. In the nickels I have not found any silver or buffalo nickels. It takes me the same time to sort a box of nickels and a box of pennies. but I can afford to get 4 boxes of pennies and only 1 box of nickels so the extra time to sort the pennies is offset by the tine/fuel to turn in the nickels and buy more. At 20 % I have a potential profit of $5.00 per box of pennies and $20.00 per $100.00. Even if I sell at 1.5 times face then I am making $10 per hundred. With nickels I am only finding 40-63 dated ones. I will list the ones I've found and you tell me if there is any way I could make $20 out of it.

Number Year Mint marks
2 1940 SS
1 1941 -
3 1946 S--
2 1947 --
1 1948 -
2 1949 D-
1 1952 S
4 1954 DDD-
3 55 DDD
1 56 D
6 57 DDDDDD
2 58 DD
5 59 -DDDD
3 1960 D-D
9 61 --DDDDDDD
12 62 --DDDDDDDDDD
17 63 ----DDDDDDDDDDDDD

jadedragon
Administrator



Canada
3788 Posts

Posted - 12/16/2009 :  16:38:13  Show Profile Send jadedragon a Private Message
Given your constraints, pennies are more profitable. You will be lucky to find a single silver nickel in a $100 box. When you do nickels be sure and pull out the pure Ni Canadian ones to 1981 - they are worth 2X face.

“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
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dakota1955
1000+ Penny Miser Member



2212 Posts

Posted - 12/16/2009 :  17:33:11  Show Profile  Send dakota1955 a Yahoo! Message Send dakota1955 a Private Message
I would sort pennies as my main focus and use nickles only for a change of pace.
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zerocd
Penny Hoarding Member



555 Posts

Posted - 12/17/2009 :  05:19:55  Show Profile Send zerocd a Private Message
I sort both!

I have a passion for pennies but lately I have moved to nickels to get war niks and bufs and average about one each+ per box. In a year I will fill at least a tube each.

I was getting some nice wheats for a while but the last dozen boxes have been lite on wheats and coppers. Nickels keep me going and are fast to run through.

I always pull out any coins in great condition for later culling to fill albums.

Finding unblemished niks is a tough job, even for uncirculated coins.

Pennies and nickels are what I do between boxes of halves, four boxes a week. I can plow through 10 boxes of coins a week without breaking a sweat.
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cwgii
Penny Hoarding Member



USA
924 Posts

Posted - 12/17/2009 :  07:42:10  Show Profile Send cwgii a Private Message
since i have been having such poor response to selling my sorted pennies. i will switch to just nickels after the first of the year.
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Zyll
Penny Pincher Member

USA
214 Posts

Posted - 12/17/2009 :  10:52:23  Show Profile Send Zyll a Private Message
What's funny is you'll probably have a much greater response when you're making 500% profit off your pennies than now at 150%. The public is still asleep.

quote:
Originally posted by cwgii

since i have been having such poor response to selling my sorted pennies. i will switch to just nickels after the first of the year.

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garnede
Penny Collector Member



USA
386 Posts

Posted - 12/17/2009 :  18:50:25  Show Profile Send garnede a Private Message
So far I have only found 3 canadian nickels and the earliest date was 1982. None would stick to a magnet so not made of NI. I like sorting pennies more, but I'll be moving at the end of january and don't want to build up too much weight to lugg around. So unless someone wants to take up my trade offer (pennies for silver/gold) then I won't sort much for the next month.
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theo
Penny Hoarding Member



USA
588 Posts

Posted - 12/18/2009 :  06:26:27  Show Profile Send theo a Private Message
[quote]Originally posted by Zyll

What's funny is you'll probably have a much greater response when you're making 500% profit off your pennies than now at 150%. The public is still asleep.

[quote]

I agree with Zyll. It's better to view pennies (and nickels) as a cheap inflation hedge for the future rather than a profit opportunity for the present.

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HoardCopperByTheTon
Administrator



USA
6807 Posts

Posted - 01/03/2010 :  02:02:16  Show Profile Send HoardCopperByTheTon a Private Message
For me.. pennies are much faster to sort. I actually have to look at the nickels. So I try to minimize the amount of nickels I get since that is the slowest turn time of any of the coins I sort.

If your percentages are low.. just sort more. If your percentages are high.. just sort more.

Now selling Copper pennies. 1.6x plus shipping. Limited amounts available.
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ZigMeister
Penny Pincher Member



USA
229 Posts

Posted - 01/03/2010 :  11:24:52  Show Profile Send ZigMeister a Private Message
[quote]Originally posted by Zyll

What's funny is you'll probably have a much greater response when you're making 500% profit off your pennies than now at 150%. The public is still asleep.

I also agree with Zyll. Yesterday I was at a coin shop and asked how was silver moving...he said that when the price of silver drops a lot people are selling, but when the price is high is when everyone is buying. Seems to me that is the opposite of what one should do.
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garnede
Penny Collector Member



USA
386 Posts

Posted - 01/04/2010 :  19:27:39  Show Profile Send garnede a Private Message
HCBTT I agree I have to look carefully at each nickel but pennies and halves I can tell from color or the depth of the rim.
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cwgii
Penny Hoarding Member



USA
924 Posts

Posted - 01/05/2010 :  17:20:02  Show Profile Send cwgii a Private Message
and after a year of pennies, with nicks being , catch as catch can. i am now switching . since i cannot seem to give away my pennies.
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kirkland
New Member



USA
0 Posts

Posted - 01/15/2010 :  17:44:32  Show Profile Send kirkland a Private Message
I would not do the nickels as much as the pennies. In the short term, you won't be able to make a profit off of nickels because people could buy that same amount from the bank for face value. Pennies, on the other hand, have to be sorted, and some people may not be willing to take the time to do that. Plus, pennies will give you a higher percentage profit than nickels. Still, it is wise to hoard nickels that you acquire in every day pocket change, but I think it is stretching it to go and buy a large number of nickels from the bank.
Have fun!
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johnbrickner
Penny Pincher Member



154 Posts

Posted - 01/21/2010 :  16:55:15  Show Profile Send johnbrickner a Private Message
I like both nickels and pennys. Admittidly, I only save about 3% of my nickels after sorting (pre'64s,) while pennys (pre'83) are 20 to 25%. Also, we are looking at a 2X+ factor for pennys while nickels are around 1.1X factor in intrinsic metal value. So why save nickels?

First for me is seeing value before the bulk of investors and horders do. Were I as savy in 1982 as I am today, I would have started sorting and hording then when circulated pennys had almost 30 years less wear on them and few thought that collecting the CU ones was a bright idea. Now, I'm fighting the battle against a tide of horders who have mechanical devises that allow them to seperate the ZN from CU and litterally sit on tons of pennys. Ones I could have already cherry picked the best from had I started almost 30 years ago. It won't be long IMHO before the sheep look up (the rest of humanity) and become aware of the value. Once that happens, looking for CU pennys will become like looking for silver coins. They will be fewer and further between finds.

IMHO nickels are still well under the radar. Currently the only coin still in circulation not debased. Many "expert" collectors claim they are very undervalued. A quick check online shows complete sets can be obtained for $45 to $50 in circulated condition. Uncirculated range from about $500+ to $700+ depending on the condition of the set. This to me is cheap. Add to this you have more negative comments to positive ones for sorting nickels and I believe you have a good argument for getting in ahead of the crowd. And this is why I sort nickels besides the fact I love Thomas Jefferson and would do it anyway.

Once the nickel is debased, it will start opening people's eyes. You'd be surprised at how many people don't know the nickel's intrinsic value a short time ago was 2X and that our govt. passed a law prohibiting its melting and transfer out of country. It's only a matter of short to medium term time before the value of a nickel starts improving significantly as a result of increased awareness and economic pressures.

So, for the sake of my collection, please follow the crowd and keep sorting the pennys. The less people sorting nickels the better for those of us that are. The more likely we'll find the coins with current value, and the odd rarities in better conditions before anyone else.

My more than 2 cents worth,

"I Killed the Bank" from the tombstone of Andrew Jackson
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Shattered
Penny Hoarding Member



USA
523 Posts

Posted - 01/21/2010 :  18:37:43  Show Profile Send Shattered a Private Message
johnbrickner, why do you only keep the pre-1964 Nicks?

I am still confused about Nickle sorting. If they have always been the same composition then what is there to sort for besides War Nicks and Buffs?

"I need metal in my life, just like an eagle needs to fly."
-Joseph DeMaio : Die For Metal
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kirkland
New Member



USA
0 Posts

Posted - 01/21/2010 :  18:42:51  Show Profile Send kirkland a Private Message
I have the same question as you, Shattered, and I couldn't have asked it better.
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theo
Penny Hoarding Member



USA
588 Posts

Posted - 01/21/2010 :  21:23:03  Show Profile Send theo a Private Message
quote:
Originally posted by Shattered

johnbrickner, why do you only keep the pre-1964 Nicks?

I am still confused about Nickle sorting. If they have always been the same composition then what is there to sort for besides War Nicks and Buffs?



As with all coins the older dates tend to be more rare. For example, you don't see pre-1960 nickels very often, therefore collectors are beginning to seek them out. In addition to that, there are low-mintage years and mint marks that are rarer still. I believe the 1958D nickel has a relatively high value, but I'm no expert.
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kirkland
New Member



USA
0 Posts

Posted - 01/21/2010 :  21:24:41  Show Profile Send kirkland a Private Message
By the way, it's not pre-1960 nickels, it's pre-1964 nickels.
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Corsair
Penny Hoarding Member



811 Posts

Posted - 01/21/2010 :  21:49:48  Show Profile  Send Corsair a Yahoo! Message Send Corsair a Private Message
quote:
Originally posted by kirkland

By the way, it's not pre-1960 nickels, it's pre-1964 nickels.



I sort my nickels for 1958 and before. If the nickel was minted when Wheats were minted, I keep it. Makes sense to me...

So long, Realcent 1. Come visit us at Realcent.org!
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theo
Penny Hoarding Member



USA
588 Posts

Posted - 01/21/2010 :  21:59:41  Show Profile Send theo a Private Message
quote:
Originally posted by kirkland

By the way, it's not pre-1960 nickels, it's pre-1964 nickels.



Sorting out pre-1964 nickels is valid of course, but if you look at past threads it seems that most people here favor sorting pre-1960. Is there a good market for pre-1964s that you are aware of?
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johnbrickner
Penny Pincher Member



154 Posts

Posted - 01/22/2010 :  08:11:39  Show Profile Send johnbrickner a Private Message
I'm glad no one was offended from my last post. Sometimes my writings throw back to my "activist" days when I stirred up the pot and it made people <<DO>> and things happened. Apologies, in advance. I'll try not to regress to much in the future.

Understand, I am no expert. There are many here with better information than I will EVER give.

The question was why do I save "pre'64?". In '64 and for a few years after, they made a bazillion with the '64 date. Seems like a good cut off date since the '64s are the greatest in circulation. And just to clear the air, I not only save ALL pre '64s but I also save later dates in lower circulation numbers and mint marks. However, once I have collected a full tube of any, I resort according to condition. This gives me the "cream" of what's in circulation. Typically, I get one or two coins of the specific veriety several grades higher than the rest. But not always. Is there a market for these coins? I have never looked into it and I won't until the Jefferson nickel is valued by everyone at a higher level.

However, there is a market for "junk silver" (old circulated silver coins) and there never was a market for the CU pennys 'till now. And I thank the many of you on this forum for the work you have done developing it. Perhaps they will call bags of the CU pennys "junk copper" at some time in the future. I have No Doubt the nickels will follow.

Ultimately, I see my collection falling into two catagories: A) collectable; and b) junk. Regardless, all will have the junk or intrinsic metal value.

At one time, I had rather extensive lists of "errors" and looked for these also (pennys too). Unfortunatly, I misplaced the lists on our move about 18 months ago. Errors are fun to look for but, take some time to find.

Once again, my more than 2 cents worth,

"I Killed the Bank" from the tombstone of Andrew Jackson
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kirkland
New Member



USA
0 Posts

Posted - 01/22/2010 :  08:36:45  Show Profile Send kirkland a Private Message
There is a market for pre-1964 nickels at every coin store I've been. They treat them like a pre-1960 nickel, because they're the same coin. You can tell that 1964 is the last year of the collector nickels because the mint mark is on the reverse up until 1965, when it goes onto the obverse.
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cwgii
Penny Hoarding Member



USA
924 Posts

Posted - 01/22/2010 :  09:13:19  Show Profile Send cwgii a Private Message
hm, i have given up on the 1960-63 s as it seemed there was no market for them. heck even the 56-59 are 'too plentiful', as i get probably 10 of them for each one from 40-55.
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JobIII
1000+ Penny Miser Member



USA
1507 Posts

Posted - 01/22/2010 :  09:33:52  Show Profile Send JobIII a Private Message
I don't know about a quick profit to sorting nickels right now. I only do nickel sorts, when my orders fail and I don't want to sit on my hands for a whole week. I don't like to tie up my funds holding nickels so i only hold US pre-1960 and CA pre-1982.

Pennies are the fastest way to turn a quick buck. If you offered to sell at 1.3 shipped i don't think you'd have trouble selling them here. But items like pennies seem to sell in waves.

Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.



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Zyll
Penny Pincher Member

USA
214 Posts

Posted - 01/22/2010 :  12:01:39  Show Profile Send Zyll a Private Message
Interesting; I never thought it that way about the change in mintmark location. Cool, thanks for that insight!
quote:
Originally posted by kirkland

There is a market for pre-1964 nickels at every coin store I've been. They treat them like a pre-1960 nickel, because they're the same coin. You can tell that 1964 is the last year of the collector nickels because the mint mark is on the reverse up until 1965, when it goes onto the obverse.

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kirkland
New Member



USA
0 Posts

Posted - 01/22/2010 :  14:03:37  Show Profile Send kirkland a Private Message
You're welcome, Zyll.
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