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sheba
Penny Pincher Member
USA
191 Posts |
 Posted - 12/05/2009 : 14:51:13
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Hi all,
The price of nickel (per pound) has been dropping and IMHO, it is dropping quite fast. My question is this: What do the 'nickel hoarders' feel about the drop in price? Is it still worth saving nickels in view of the very sharp drop in price?
Honest question ... really hope some of the 'veterans' will share their opinions.
thanks! 
sheba
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woof ... wag ... whine |
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billo
Penny Collector Member
293 Posts |
Posted - 12/05/2009 : 21:50:45
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| What goes down must come back up...law of gravity in the funny PM world. Look at the 5 year chart. |
That's not a dollar, mate...THIS is a dollar.
http://www.sendcongressapinkslip.com/ |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/06/2009 : 00:59:34
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| I just keep filling orders for pure Canadian Ni - in fact I need to go on a nickel buying spree because I'm pretty much sold out right now. I watch Nate's inventory at You must be logged in to see this link. and he keeps running out too, so there is a market for sure. The price will come back - and any way we are not speculating on nickel rising we are speculating on paper money collapsing. |
“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 12/08/2009 : 17:05:53
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If I put $100 in the bank, with interest, inflation, deflation, VAT, etc in a bank account, in a year I will have $90.
If I put 1 box of nickels on the shelf I have have a box of copper nickel, in a year I will still have a box of copper nickel. But I do not know if I could buy a box of copper nickel at the new price for the same $100. |
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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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 12/08/2009 : 17:08:31
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Nickels are a store of wealth, a box of gold, or silver, or copper will still be gold or silver or copper, but will a digit in the bank still be the same next year.
Our economy is not built on saving it is built on investing. Nickels in my mind are savings.
Yes, I do ask for my change in nickels. Most clerk think I am nuts. |
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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george454
Penny Pincher Member
242 Posts |
Posted - 12/08/2009 : 17:22:34
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| I was keeping all American nickel's I could get my hands on for awhile, but I dumped all I had, still have my Canadians. My reasoning, right know I can invest my nickel worth less than face value into a 5 copper pennies worth double face value. When nickel takes the upturn or my copper penny sorting dries up then I will turn back to holding them. Right know I see there are other investments worth exploiting, besides when nickels are worth double FV it will take years for us to take them out of circulation, unlike the copper pennies there going fast. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/08/2009 : 17:28:05
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| I agree with george454 that right now other investments are a better bet but I still save nickels before 1960 because they are a little bit harder to find. I do keep nickels back in mind and if I would see a change I would go the bank and buy mass amounts of nickles. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 12/08/2009 : 23:13:18
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I buy about $10 in nickels per week. Now I'm not an expert at charts, but I have to say the long term nickel charts do not look encouraging. However I tend to view my modest stash as a cash reserve not as a speculative investment. I agree with the others that the dollar devaluation will trump any current price concerns in the end.
A few others have said that they will start buying nickels en mass once they become more attractive. My concern is that by that time nickels may be a lot harder to obtain, especially in large quantities. Ardent Listener once said there is about $8 in nickels for every person in the U.S. So if even 5% of the population started hoarding nickels, they could become scarce in a hurry. Also, it would only take one order from Washington and banks would no longer be able to sell more than a couple rolls of nickels at a time. Therefore I'm building up my stash now while the nickel still looks relatively unattractive. |
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