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Spikeanator6982
Penny Sorter Member
USA
99 Posts |
Posted - 07/30/2010 : 10:53:33
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I don't see many people melting them out in their backyards, although I am sure someone will/has. I meant actual refining companies melting them. Many of those silver coins were melted, I figure more people will be willing to part with a few pennies than were willing to part with their silver from back in the day. |
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Klark Cent
Penny Sorter Member
USA
68 Posts |
Posted - 08/06/2010 : 21:44:30
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"the melt ban on copper cents is more likely to be lifted before the one on nickels is."
good point. that's something i had not considered. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 08/07/2010 : 06:20:43
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I have never understood why someone would want to sort nickels! I assume you might find a war nickel every now and then but the only key date in the bunch is a 1950D and they are not such a hot item.
Regardless, everyone seems to be missing the point that what makes a nickel worth more than a nickel is the copper content.
Also, lets do a quick calculation using the base metal value table on coinflation:
You must be logged in to see this link.
For this example I'll say you are willing to take $100 and put toward your efforts...
First in sorting pennies you have the chance of getting wheats and an occasional Indian Head and error coins. The common date wheat you can sell for .03 to .04 each. But setting all that aside if you look at the base metal calculator and plug in $100 in 95% copper pennies you see it is worth $219.88
If you take that same $100 and plug it in to the calculator for nickels it is worth $109.56
Do you want to double your money or make $9.56? Again, for the life of me it makes no sense to me why you would want to tie your money up in nickels at all!
If you are looking at this as a strict return on your investment then pennies are the way to go...
You must be logged in to see this link. |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 08/07/2010 : 09:02:24
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quote: Originally posted by Copper Catcher
I have never understood why someone would want to sort nickels! I assume you might find a war nickel every now and then but the only key date in the bunch is a 1950D and they are not such a hot item.
Regardless, everyone seems to be missing the point that what makes a nickel worth more than a nickel is the copper content.
Also, lets do a quick calculation using the base metal value table on coinflation:
You must be logged in to see this link.
For this example I'll say you are willing to take $100 and put toward your efforts...
First in sorting pennies you have the chance of getting wheats and an occasional Indian Head and error coins. The common date wheat you can sell for .03 to .04 each. But setting all that aside if you look at the base metal calculator and plug in $100 in 95% copper pennies you see it is worth $219.88
If you take that same $100 and plug it in to the calculator for nickels it is worth $109.56
Do you want to double your money or make $9.56? Again, for the life of me it makes no sense to me why you would want to tie your money up in nickels at all!
If you are looking at this as a strict return on your investment then pennies are the way to go...
You must be logged in to see this link.
How do you make double your money vs $9.56? Who will give you that today? As far as I know you would be lucky to get approx 30% premium for 95% pennies BEFORE taking out shipping charges. How much time and effort is involved in sorting pennies, including the re-rolling or counting zincolns, time and expense to return to the dump site? What is that time and effort worth? This is all time and effort NOT involved in keeping nickels. If there is massive inflation to come, nickels make a great fit as a "lazy" hedge. And when they quit making them out of 75/25, they will vanish from circulation faster than a pre 82 penny. There aren't very many nickels relative to the other commonly circulated coins.
Don't get me wrong, I have a Ryedale and multiple tons of 95% stored away. It takes A LOT of effort to sort out even just $10k in 95% Thus, those who need a risk free hedge (purchased at face value)greater than a few $thousand or simply don't have the time to sort, may need a more practical solution by utilizing both "active"(sorting 95%) and/or "passive" (stacking nickels) approaches, among others. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
Edited by - jonflyfish on 08/07/2010 09:07:53 |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 08/07/2010 : 09:08:54
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quote: Originally posted by Spikeanator6982 I don't see many people melting them out in their backyards, although I am sure someone will/has. I meant actual refining companies melting them. Many of those silver coins were melted, I figure more people will be willing to part with a few pennies than were willing to part with their silver from back in the day.
Coins, valued by intrinsic metal content and available for barter, are already too scarce (in my opinion) without having people, or refining companies, melting them down. |
"The silver is mine, and the gold is mine, saith the LORD of hosts." (Haggai 2:8) |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 08/07/2010 : 09:19:29
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quote: Originally posted by Copper Catcher I have never understood why someone would want to sort nickels!
Neither have I ever understood why someone would choose to sort U.S. Mint nickels instead of sorting U.S. Mint pennies.
quote: Originally posted by Copper Catcher Again, for the life of me it makes no sense to me why you would want to tie your money up in nickels at all!
For someone in the U.S.A., the only reason I can see, for storing and holding relatively large quantities of cupronickel nickels instead of copper pennies, is to not to have to bother with sorting, returning coins, etc. |
"The silver is mine, and the gold is mine, saith the LORD of hosts." (Haggai 2:8) |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 08/07/2010 : 09:41:12
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quote: Originally posted by dpwozney
quote: Originally posted by Copper Catcher I have never understood why someone would want to sort nickels!
Neither have I ever understood why someone would choose to sort U.S. Mint nickels instead of sorting U.S. Mint pennies.
quote: Originally posted by Copper Catcher Again, for the life of me it makes no sense to me why you would want to tie your money up in nickels at all!
For someone in the U.S.A., the only reason I can see, for storing and holding relatively large quantities of cupronickel nickels instead of copper pennies, is to not to have to bother with sorting, returning coins, etc.
That is true for straight out non-sorting hoarding. A reason to sort nickels is to look for silver war nickels, Canadian .999 nickels and Buffalo nickels both new and old. Even with very limited sorting of U.S. nickels I have I found all of the above. |
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Think positive. |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 08/07/2010 : 11:07:29
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quote: Originally posted by Ardent Listener
quote: Originally posted by dpwozney Neither have I ever understood why someone would choose to sort U.S. Mint nickels instead of sorting U.S. Mint pennies.
A reason to sort nickels is to look for silver war nickels, Canadian .999 nickels and Buffalo nickels both new and old. Even with very limited sorting of U.S. nickels I have I found all of the above.
How does the return on investment of time, effort and money compare for sorting U.S. Mint nickels versus sorting U.S. Mint pennies? |
"The silver is mine, and the gold is mine, saith the LORD of hosts." (Haggai 2:8) |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 08/07/2010 : 11:24:13
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quote: Originally posted by Ardent Listener A reason to sort nickels is to look for silver war nickels, Canadian .999 nickels and Buffalo nickels both new and old.
Do people that sort U.S. Mint nickels take the cupronickel nickels, that are not silver war nickels, Canadian .999 nickels or Buffalo nickels, back to the bank? |
"The silver is mine, and the gold is mine, saith the LORD of hosts." (Haggai 2:8) |
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Klark Cent
Penny Sorter Member
USA
68 Posts |
Posted - 08/10/2010 : 23:06:01
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quote: Originally posted by dpwozney
quote: Originally posted by Ardent Listener A reason to sort nickels is to look for silver war nickels, Canadian .999 nickels and Buffalo nickels both new and old.
Do people that sort U.S. Mint nickels take the cupronickel nickels, that are not silver war nickels, Canadian .999 nickels or Buffalo nickels, back to the bank?
Yes, some people sort them then return the common nickels. I think those that do that are often people who are getting their pennies from small bank branches (like inside a grocery store) that won't give out boxes of coins. So maybe they get $5 in pennies and $10 in nickels. |
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