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blacksheep404
New Member
12 Posts |
 Posted - 02/22/2010 : 07:39:18
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What is special about pre 1960 nickels and is it worth sorting for them? Thanks.
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/22/2010 : 08:11:14
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| We save them now for that fact that they are starting to be harder to find and if the melt ban is lifted they should become almost like the wheatback. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 02/22/2010 : 09:07:16
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| I save all the pre-1960 nickels that I sort |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Nickelless
Administrator
USA
5580 Posts |
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johnbrickner
Penny Pincher Member
154 Posts |
Posted - 02/23/2010 : 00:59:48
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From my (if I remember correctly) very first post: They are the only U.S. coin still being minted that has not been debased. The are considered by so called experts as undervalued, and for the most part they are under the radar. Few find them or want them as collectable. Once the govt. put the melt/export ban on them that solidified my belief. But the ONLY reason I need is only coin still minted not debased.
I find it rare for me to be ahead of the curve but, I think my "hobby" of Jeffersons is. I even own a few graded ones, I was able to cherry pick from HA.com a few years back when they were even lower on the radar than now. Putting a set together perhaps.
I personally keep all the pre-'64s as they minted a bazillion of 64s, literally and even a few of the lower mintages of the post 64's in better condition. I'll fill a coin container of these post '64s full then keep the best conditioned of the lot and recycle the rest.
Now if economic conditions continue to degrade and get worse or if Jeffersons are debased, I'll drop a load of FRNs and pick up 10 cases just for starts.
It's a jungle out there, |
"I Killed the Bank" from the tombstone of Andrew Jackson |
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Nickelless
Administrator
USA
5580 Posts |
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ZigMeister
Penny Pincher Member
USA
229 Posts |
Posted - 02/23/2010 : 10:43:37
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| They have some numismatic value because like the Wheat cents are getting difficult to find. One dealer at a local coin show last week had a box of common pre-1960 nickels he had priced at 15 cents ea. New collectors trying to put together a Jefferson set will pay the .15. The price will probably go higher as they further disappear from circulation. |
Edited by - ZigMeister on 02/23/2010 10:45:30 |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/23/2010 : 11:11:35
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Okay the relationship with the Melt Ban is:
After it is lifted and assuming the price of copper and nickel have doubled or so, then when the coins start getting melted, those older dates will become more and more rare. If nickels get traded as bags of junk metal(like junk silver) then they will get picked through of all the good dates, but won't become that much more rare.
Just depends on when happens and what the driving factors are.
You have a three-way win situation.
1- they are always worth 5 cents
2- they have been and will be again worth more than 5 cents in metal content
3- pre-1963s may one day bring a significant numismatic premium |
"May your percentages ever increase!" |
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johnbrickner
Penny Pincher Member
154 Posts |
Posted - 02/24/2010 : 22:01:58
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Nicklless? - I don't think the '64 Jefferson will ever have numismatic value because of the bazillion minted. My thanx to Kirkland, Zig, and Wolvesdad for the continued answers. I couldn't provide better than those you all have put forth.
It is my belief the pre64s will provide a numismatic value for the reasons stated above. also, I am willing to wait for that to happen or pass my collection on to my son for him to reap the value of my efforts with this hobby.
When TSHTF good chance the Jefferson will be a low value form of real currency. Most likely a form of smaller change for silver dimes. Hummmm, I wonder . . . So many bronze and brass Lincolns to the Jefferson, so many Jeffersons to the War Jefferson, so many War Jeffersons to the silver dime, and so on up to a gold coin? Anyone want to take a guess as to how the ratios of the Real Currency will break down? Just a thought to stimulate conversation. |
"I Killed the Bank" from the tombstone of Andrew Jackson |
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cwgii
Penny Hoarding Member
USA
924 Posts |
Posted - 02/28/2010 : 12:36:57
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| wish i could find a dealer willing to pay .15 each. my stockpile is getting up there.the buyer i had been sorting for, backed out |
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TheSilverTiger
Penny Sorter Member
USA
25 Posts |
Posted - 03/29/2010 : 16:15:12
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quote:
Originally posted by cwgii
wish i could find a dealer willing to pay .15 each. my stockpile is getting up there.the buyer i had been sorting for, backed out
I'm not a dealer, but when your ready let's talk. |
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 03/29/2010 : 20:48:41
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Yeah-
I have a $100 boxful and a $100 bag if someone wants to buy them for a decent price. I'll even throw in a 39-D and a 50-D. |
Beer is my currency. |
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Be Nice to BankTellers
Penny Sorter Member
USA
77 Posts |
Posted - 04/02/2010 : 23:52:53
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quote:
Originally posted by johnbrickner
so many War Jeffersons to the silver dime, and so on
That conversion would need to be fairly close to 1:1. Maybe 3:2 at most I would think.
I have a simple formula:
10 zinkers to a nickel.
$10 in nickels = $1 in silver
Realcents trade at 3 to a nickel, that will be the odd man out, like that British shilling/pence/pound/guinea (and farthings?- who knows).
Hmm, 600 copper pennies for $1 FV in 90% silver. |
Grandpa always told me, "Back in 1964..." I listened.
Selling copper cents @ $2.50/lb. + shipping. |
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etdaddy
New Member
USA
12 Posts |
 Posted - 04/17/2010 : 10:15:27
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Interesting topic.
"Be Nice" - I think you've nailed it 'spot on' but I don't understand your comment of 1:1 or 3:2 at best. What are you comparing?
Coinflation holds the key to conversion as the "metal's" true (and relative) value has been meted out for centuries. It is simple division to compare any coin to any other to find 'how many' of each coin buys another. For instance a nickel buys 2.68 copper cents by dividing $0.0620726 by $0.0231488. Really though, these conversions will be more exact. Ten nickels will buy about 27 copper pennies, always. The cooler thing for us hoarders to remember is that each one of our nickels will buy a new 'golden' dollar forever. That is, WTSHTF.
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A person who won't read has no advantage over one who can't read. |
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quick question about pre 1960 nickels
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