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CopperFinder
Penny Sorter Member
USA
34 Posts |
 Posted - 09/25/2009 : 03:17:29
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I just got into this hobby not so long ago so I am still learning. You guys always have some good information for my developing brain to drink up. 
My question is how long will the nickle take till it's scarce. Will it take as long as the penny. Sure there is a lot of sorting to do but you can always come up with some copper if you don't mind the sorting.
Say they change the metal tomorrow. How long do you project the nickle to disappear from regular circulation to the same point as silver is now?
Right now if you come across a silver coin it's only because God sent it to you because he wants to see you smile.(most likely it'll be because you are smart enough to check.)
How long did it take for the silver coins to disappear?
I need a lesson.
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Edited by - CopperFinder on 09/26/2009 02:49:29 |
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Coinage
Penny Collector Member
Canada
303 Posts |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 09/25/2009 : 10:54:38
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quote:
Originally posted by CopperFinder
Say they change the metal tomorrow. How long do you project the nickle to disappear from regular circulation to the same point as silver is now?
Right now if you come across a silver coin it's only because God sent it to you because he wants to see you smile.(most likely it'll be because you are smart enough to check.)
How long did it take for the silver coins to disappear?
I need a lesson.
I'd say it depends when the metal content is consistently worth more than 5c. In 1965, when clads were being minted for the first time, people began to put away silver coins found in circulation in jars, boxes, and other containers. At that time, silver coins were worth more than face value so they began to be melted. Since the mint had not ramped up full production of clad coins, the pulling of silver coins from circulation and melting by refiners for profit caused a shortage of coins. That's when the melting ban was initiated by the Treasury, and it stayed in effect until 1968. Most of the 90% silver coins were removed from circulation in about 3 years; many of remaining coins were pulled by the time silver reached $51 in 1980. As you know, you can still find small amounts of silver coins today, even after over 40 years have elapsed since the mint stopped minting them.
So, when will the nickel be worth more than a nickel? There is a melting ban already on pennies and nickels. If the mint decided to change the metal content to steel or some other alloy, I think you would have plenty of time to pull nickels from circulation. Look how long it's been since the penny has been zinc - 27 years. There's still plenty of coppers to be found. |
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Ponce
Penny Hoarding Member
Cuba
630 Posts |
Posted - 09/26/2009 : 13:12:04
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| How long did it take for the silver coins to disappear?......that's how long for the nickels. |
"If you don't hold it, you don't own it"...Ponce |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 09/29/2009 : 13:43:38
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Nickels will be a different story.
When Silver as removed from coins people knew the silver was worth more than the coins they were in, but the coins were still made to look like silver, same size and shape and almost the same colour.
Since the cents were changed from 95% copper to 2% copper they were still made to look the same.
The nickels are too big. The mint is talking about changing from Nickels to Half Dimes. This would make the new five cent coins very different from the old ones.
I really think Nickels will be produced as long as Dollars are. |
Silver Monometalism is the most permanent and stable form of money the world has seen. Natural law and history prove silver value is best multiplied by gold and best divided by copper. It is only in this counterfeit currency time when the natural law appears suspended. |
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Coinage
Penny Collector Member
Canada
303 Posts |
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keys
Penny Collector Member
383 Posts |
Posted - 09/30/2009 : 17:55:26
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A look at the numbers of US Nickels minted-
Factoring in that nickels minted 1961 and eariler get pulled form circulation by roll hunters and collectors,
Nickels minted from 1962-2006
46,223,823,741
(I didn't count those minted for uncirculated sets)
Figure 20% are missing from circulation (dropped down gutters, thrown away by mistake, lost in car seats, mutilated & sent to the mint for replacement, etc,)
figure 36,897,058,992 are out there to collect & hoarde.
Since we are talking about copper and nickel, the public's imagination won't be as inspired to save them as they were with silver.
Is it worth it? Of course!
Considering the nickel has a built in value (five cents) it keeps its value if we get recession, it gains in value if we get inflation (or numismatic value if it is a mint error or uncirculated.)
There is very little downside with hoarding nickels.
One downside is you are tying up money that could be earning interest or dividends, but since the banks are paying so little and dividend paying stocks are hard to come by (and did the companies paying dividends actually earn money for dividends or is the money coming from accounting games?) holding nickels and commodities is a good way to preserve buying power. |
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 10/01/2009 : 13:27:59
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36,897,060,000 divided by 300,000,000 Americans = 123 nickels per US citizen. That's $6.15 in nickels, weighing about 0.615 kg (0.46kg in copper, 0.15kg in nickel).
<<<Quote="coppernickel">>>The mint is talking about changing from Nickels to Half Dimes.<<<ENDQUOTE>>>
Absolutely untrue. The Mint never said that, but several coin bloggers did. If a Mint official said this, I want to see the article. Citation needed.
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 10/01/2009 : 17:39:43
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No risk in hoarding nickels. Real "risk free" interest rates are negative.
Dividends are flighty and come at a great risk to principal not to mention purchasing power parity currency risk.
Hard, valuable, sustainable metal is a fantastic cure. |
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. |
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When will the nickle turn scarce?
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