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n/a
deleted
43 Posts |
 Posted - 03/20/2007 : 01:32:34
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I see the price is 8.6 cents. any thoughts?
"Preserving coinage by the pound"
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/20/2007 : 02:15:36
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Start Saving them anytime you want, John. They will always be worth at least a nickel. You should only buy 1 or 2 boxes at a time though.. they are heavy. The advantage of the nickels is you don't even have to sort them.. unless you want to, of course. I found 2 Silver War Nickels in a box today.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu659700:US5Ni20560 |
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n/a
deleted
43 Posts |
Posted - 03/20/2007 : 11:18:38
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ok, thanks.
so when do they stop producing nickels and what will they change their composition to? zinc? all copper?
"Preserving coinage by the pound" |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/20/2007 : 12:11:18
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What happens to nickels and pennies in the future is anybody's guess. Though there have been a couple of suggestions and past attempts on changing them nothing solid is currently pending.
A little history might help in predicting the future:
1964 last year for most silver coins
1967 - 1969 ban on melting silver coins
1974 - 1978 ban on melting pennies
1982 last year for copper pennies
late 2006 ban on melting pennies and nickels
Notice how the first ban came after they stopped making silver coins and lasted only 2 years as it was pointless (it didn't slow down hoarding).
Notice how the second ban came and went It was 8 years or so between the time it started and the time they started making copper pennies. Copper eased a bit and hoarding never took off like they feared when placed the ban. Copper pennies are still in circulation today (IE worth 1 cent to most people)...so if someone started hoarding in 1974 when the melt banned started they might still be waiting today to sell their pennies!
So if history is any indication nickels and pennies will change composition (or simply be eliminated or revalued) anywhere from this year to 8 years in the future depending on metal prices. And at some point along the way or just aftwards the ban on melting will fail and will be eliminated. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/20/2007 : 12:44:55
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quote:
Originally posted by HoardCopperByTheTon
Start Saving them anytime you want, John. They will always be worth at least a nickel. You should only buy 1 or 2 boxes at a time though.. they are heavy. The advantage of the nickels is you don't even have to sort them.. unless you want to, of course. I found 2 Silver War Nickels in a box today.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu659700:US5Ni20560
Not only are they heavy for you they are also heavy for the bank tellers. Not all that many banks have more than a few boxes of nickels around and they have to service their business customers with them. So don't expect to come out with $500 worth of nickels from the same bank on the same day. I cycle banks and their branches. I find I have to time things right so not to call attention to myself and PI$$ off the tellers.
It takes time to put together a large hoard of nickels. So if you are serious, starting doing so now.
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For good times to come or bad times to come, now is the time to save your copper or nickel coins. |
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thebeave
Penny Sorter Member
USA
49 Posts |
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n/a
deleted
37 Posts |
Posted - 03/20/2007 : 13:16:44
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| I usually ask for Customer rolls of nickels, they are happy to get them off their hands. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/20/2007 : 14:33:30
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When I first went to a bank and asked for a boxes of pennies and nickels they looked at me like I had a three eyes. They didn't have them so I asked them for all the rolls that they could spare. They again looked at me like I had three eyes, but MOST banks gave me the nickel and penny rolls that they could spare. I did encounter a couple of banks that claimed that they did not give out change if you did not have an account...go figure.
But then I got smart. Instead of driving around to random banks and asking for boxes of pennies and nickels, I went to my banks and asked them to ORDER me boxes and nickels. All of a sudden I got no strange looks. At the 2 banks that I bank at, they refer to me as the nickel guy and they will order me all the nickel and/or penny boxes I want no problems. In fact, I got a standing order for them to order nickels and pennies for me every week until I tell them to stop. (They have one day of the week that they place orders with Brinks and another day that Brinks delivers on.)
To smooth things, just have an account at the bank you choose and tell them you are a collector and like to search for rare coins. Also let them know that you are serious and will pick the stuff up the day it arrives. That way they don't get stuck with a bunch of nickels sitting around that they may not have space for.
Also, I am not sure if this is a coincidence or not, but one bank so far has given me 100% Brinks boxes and the other 100% Mint boxes of nickels. Maybe they have different sources for their coins or maybe not...beats me. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/20/2007 : 16:37:14
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Sure, you can ask them to order them for you, but that takes all the fun out of doing a "bank job".
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For good times to come or bad times to come, now is the time to save your copper or nickel coins. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/20/2007 : 17:10:11
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quote:
Originally posted by horgad
To smooth things, just have an account at the bank you choose and tell them you are a collector and like to search for rare coins.
You are right on the money as far as saying you are a coin collector, Horgad.
Coin collectors are buying rolls too.
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A bit of competition for us, but they are looking for rarities instead of what is right in front of them, the new silver rush! Copper and nickel coins. |
Edited by - pencilvanian on 03/20/2007 18:07:14 |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 03/20/2007 : 17:12:58
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"It takes time to put together a large hoard of nickels. So if you are serious, starting doing so now."
Amen to that.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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n/a
deleted
43 Posts |
Posted - 03/20/2007 : 17:26:19
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ha ha, define large hoard though!
"Preserving coinage by the pound" |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/20/2007 : 19:35:17
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quote:
Originally posted by John Law
ha ha, define large hoard though!
"Preserving coinage by the pound"
$1000 in nickels is a start, $2500 is getting serious, $5,000 is getting greedy (like Daffy) and a ton is large, but as you will see, it's not really huge.
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For good times to come or bad times to come, now is the time to save your copper or nickel coins. |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 03/20/2007 : 19:56:00
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I've only got about $1850 in nickels hoarded, but I'm only keeping. the .999 ones. I've had to go through about $10,000 worth of boxes so far (~100 boxes)
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/20/2007 : 20:55:04
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quote:
Originally posted by Canadian_Nickle
I've only got about $1850 in nickels hoarded, but I'm only keeping. the .999 ones. I've had to go through about $10,000 worth of boxes so far (~100 boxes)
Yeah, but that's $100 Canadian.. much easier to scrape up than $100 US. I keep all the .999 nickels I can get, too.. just don't get many of them down here in CA.
"Preserving coinage.. 2 tons at a time"
M48/14USCA:US1Cu659700:US5Ni20560 |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 03/21/2007 : 09:26:09
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When hoarding anything attempt to forcast what may or may not be of value in the future. This is difficult obviously or there would be more millionaires. At present metals of all types are going up in value rather continuously but rather sporatically. My prediction is that metals will become less and less used by industry and more and more will be found through mining. Example is the massive change of Copper wiring to fibre optics. If you have been into shooting guns you would have noticed the change over the years to even plastics in guns and ammo. The auto industry has been coverting more and more to plastics for thier products. All this will soon make metal prices drop and the hoarding of coins will be a thing of the past. Of course there will still be face value but just think if you had thousands of dollars in coins sitting in a lump, in a savings account you could at least have some interest and no big pile of stuff sitting there.
Another example is not long ago I knew a person at a flea market that had accomeulated virtually tons of Beanie Babies for resale at the flea market. He started accomeulating when they were into the hundreds of dollars for some. He ended up selling all for about $2 each and took a substantial loss.
The moral is don't save for what might happen in the distant future with things that may not be even worth your time.
Carl |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/21/2007 : 12:24:54
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quote:
The moral is don't save for what might happen in the distant future with things that may not be even worth your time.
I couldn't disagree more. Anybody who has anything is save "for what might happen in the ... future". We are all investors...there is no way to avoid it. As such it is a good idea to at least attempt to make a good decision on what to invest in.
As for people who refuse to make a decision on how to invest, a default decision is made for them. They end up with dollars in the bank, or a house, or a whatever. And dollars by the way are pretty darn close to 100% guarenteed to fall against almost every other kind of stuff that you can imagine.
As for beenie babies, you are comparing apples to oranges. True wealth comes from labor of man. Beenie Babies contain a small portion of true wealth (labor to make them) and a large portion of fake wealth (wishful thinking, greed factor, etc.) Therefore when the price dropps on Beenie Babies the company can still keep making them at a profit. On the other hand, bases metals take a lot of labor to produce (contain alot of real wealth) and if the price drops too much people stop making them and as a result the price eventually goes up again. There really is no comparison to the two.
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 03/21/2007 : 13:30:30
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Also, you can't replace copper electrical wiring or copper pipes with "fiber optic" = only telephone/data lines.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/22/2007 : 19:11:31
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I agree with Carl part way as far as metal cosumption is concerned, but only part way.
As the price of any metal increases, the desire to use less expensive substitutes comes into play.
Cheaper substitutes, more affordable price, more units sold.
Yet there are some uses for metal that can not be substituted without paying for replacements in the future.
At one time radiatiors for cars and trucks were all metal and leaks and cracks were rare or easily fixed. Now, with some cars and trucks, radiators are made with a plastic frame while the center is copper or brass.
While the price was lowered because of the cheaper material, cracks in radiatiors is more common today. Replacement of the whole unit is needed rather than a weld job to repair a radiator (I learned about this the hard way with my last vehicle.)
As the price of metals goes up, the suppliers will try to keep up with demand, and, in the past, the supply exceeded demand and prices fell.
Today however, China and India are trying to push or pull themselves out of the 19th century into the 21st century. This requires more buildings, roads, pipes to carry water in and waste water out, more generators, etc.
This all requires metals.
I do not expect the price of metals to fall dramatically until China and India are 75%-80% done with their growth.
While it can be argued we cannot see what the future holds, we can at least learn the obvious that most don't realize:
1. Inflation is pushing up the price of everything (including metals) while pushing down the buying power of dollars. Moving from a falling currency to a non-currency item to weather the storm of inflation is not a bad idea. The rich do the same thing(buying art, high end jewelry and such) so why should'nt we do the same with our coins?
2. Know when to get out. I certianly hope no one on this forum will hold their hoarde forever. There will be a time to buy (cheap) then a time to sell (for a very good price).
We must develop a sell-off strategy so as not to get stuck if metals prices decline. Unlike the beanie baby investor, we should know when it is time to get out, and that time will be when everybody is rushing to get in.
3. How much did we pay for our copper pennies and cupronickel or nickel coins? Face value, of course. We never lose the purchase price of our investment, and if the prices fall to just under face, we sigh, shrug our shoulders and hope for the prices to rise. Unlike commodities speculatiors, we don't lose our shirts if the prices rise or fall, and with inflation pushing up the price of everything, metals will go up as the US Dollar goes down.
Besides, we may have a numismatic value to our coins in the future, so we can't lose any way you look at it.
We might as well speculate with coins, it is the easiest and cheapest speculation around. |
Edited by - pencilvanian on 03/22/2007 19:14:40 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/22/2007 : 19:34:00
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"We might as well speculate with coins, it is the easiest and cheapest speculation around." - pencilvanian
You are sooooooooo right. As I have said before, IMO there is not a perfect investment. Not gold, goverment bonds, or stocks. But coin speculation at this time comes close. I got my hoard one nickel at a time and it didn't cost me a dime. I'm only exchanging paper money for coinage. In addition, I like owning a hoard of nickels. It's like buying something but not spending any money at the same time.
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For good times to come or bad times to come, now is the time to save your copper or nickel coins. |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 03/22/2007 : 20:07:30
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Exactly. Wehn you blow a grand on some piece of sh!t electronics, you get a whole whack of Buyer's Remorse. When you blow a grand on a grand worth (face) of coins, not so much.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
You must be logged in to see this link. |
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n/a
deleted
43 Posts |
Posted - 03/23/2007 : 11:34:32
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I've decided to keep some nickels for now and figure it all out later.
"Preserving coinage by the pound" |
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n/a
deleted
43 Posts |
Posted - 04/28/2007 : 16:58:21
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now 9.4 cents.
"Preserving coinage by the pound" |
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n/a
deleted
479 Posts |
Posted - 04/28/2007 : 17:47:06
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This is a great thread, many good comments.
First, hat's off to JustCarl for taking a contrarian position.
I disagree with you Carl, but I respect you for putting forth a polite contrarian view.
Second, I think Penn has raised an issue several times around here and I haven't seen much response.
I haven't responded, but the isssue raised is of the utmost importance.
Qwote:
"2. Know when to get out. I certianly hope no one on this forum will hold their hoarde forever. There will be a time to buy (cheap) then a time to sell (for a very good price).
We must develop a sell-off strategy so as not to get stuck if metals prices decline. Unlike the beanie baby investor, we should know when it is time to get out, and that time will be when everybody is rushing to get in."
-Penncilvanian
This is the elephant in the room, isn't it?
We should be having a calm and reasoned discussion on this point BEFOREhand.
If we have run this idea around inside our skulls for months and looked at this problem from every concievable angle and discussed it and researched it, then and only then will we be prepared.
Chance favors the prepared mind, right?
.....................
.....................
On April 24th, 2007, Dennis Kucinich submitted articles of Impeachment against Dick Cheney.
I think it is called House Resolution 333.
My response was to immediately send him a monetary contribution.
Actions speak louder than words.
If you agree that someone should Impeach Dick Cheney, then please show the world and future historians that you think so.
Send him whatever makes sense for you.
I'm sure that if you sent him at least $5 they would come out ahead after processing the transaction.
What matters is that we support those who do the right thing.
"Now, with respect to the president. I think that it's very important that we start with Mr. Cheney. Because if we were to start with the president and pursue articles of impeachment, Mr. Cheney would then become president."
-Dennis Kucinich 2007, Apr. 24
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 04/28/2007 : 19:22:13
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Sell wehn you have multiple compeeting buyers.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
You must be logged in to see this link. |
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n/a
deleted
9 Posts |
Posted - 05/01/2007 : 01:03:49
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Every paycheck I pick up $20 in nickels.
Proud Sponsor of the American Military-Industrial Complex |
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when do I start saving US nickels?
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