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Know Common Cents
Penny Pincher Member
173 Posts |
 Posted - 01/31/2008 : 23:27:15
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Am I the only one who's noticed the proliferation of "casino nickels" in circulation? Since most of the casinos have switched to the ticket in-ticket out system, their need for vast amounts of actual nickels has probably dropped 95%. Prior to this innovation, all of their internal stock had been constantly recycled within their own monetary system (winnings taken to be counted and cashed in then refilled into the slot machines) and the nickels took an incedible beating.
Many have been so damaged that all of the features are just a blur. These nickels of the 1980s through current have been banged out at the mint by the billions. I wonder, though, whether all of the damaged nickels in circulation will eventually drive up the price for pristine BU rolls of those dates.
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Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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Robarons
Penny Pincher Member
USA
167 Posts |
Posted - 02/01/2008 : 20:46:02
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| Well since the these coins were never actually removed (you could have took these out of the casino if you wanted to) from circulation and the coin world has lived with out these nickels for years (since they were all recycled within the casino) I would think the prices for BU rolls are already priced in. |
Seven days without sorting makes one weak.
I told my buddies theres no worry for a run on the banks. Joe Sixpack too lazy and *may* have a walk on the banks. |
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just carl
Penny Collector Member
USA
397 Posts |
Posted - 02/03/2008 : 09:07:38
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| What your discribing is really noticed on the half dollar. Many, many of them have that worn, wheel appearance from many years of slot machines. |
Carl |
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Cerulean
Penny Hoarding Member
USA
652 Posts |
Posted - 02/04/2008 : 13:46:19
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| Yes, I've seen those worn-out nickels too, though not at any increasing frequency. Today's low-relief designs don't take abuse the way older high-relief coins used to. They get scratched up and worn smooth much more quickly. |
RUNNING TOTAL
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16857 zincs (1982-2008) 75.4%
5346 coppers (1959-1982) 23.9%
110 wheats (1920-1958)
50 Canadian (1959-2007)
1 dime (2004)
1 foreign (2005)
Sorting Map: http://www.frappr.com/?a=constellation_map&mapid=68719599394
2008 First Finds: http://realcent.forumco.com/topic~TOPIC_ID~1716.asp
Wanna take money away from the Fed? Spend dollar coins!
Listening is the linchpin of democracy. |
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Cody8404
Penny Collector Member
USA
340 Posts |
Posted - 02/06/2008 : 03:20:35
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Most of the new coins do not handle any abuse very well.
No I have not seen an increase in worn nickels. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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pencilvanian
1000+ Penny Miser Member
2034 Posts |
Posted - 02/06/2008 : 16:38:14
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Just my opinion, but I would think most of these worn nickels should be seen in Nevada and to a lesser extent New Jersey (due to Las Vegas and Atlantic City casinos being the ones that had nickel slots the longest.)
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Topic |
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Casino Nickels
