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zerocd
Penny Hoarding Member
555 Posts |
 Posted - 03/24/2010 : 06:20:07
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Found this AM
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More at the link:
Another Experience with Stockpiling Nickels
Dear Mr. Rawles,
I thought I would drop you a note on my experiences in attempting to collect a significant volume of nickels. After seeing the Coinflation.com site and some of your articles and hearing about the changes being made by the US government in what materials are allowed to be used to make nickels, I decided to take your advice and start collecting. I decided to obtain $1,000 worth to start with, so I went to my local credit union and walked up to the teller and asked what their policy was on obtaining large volumes of coins. She said that they have to pay for shipping of coins and that they order coins twice per week. They also ship their bulk coins that they collect in the coin counter they provide for their members to a company that counts and rolls and sells the coins back. She described the coin service they use. So I asked if they had any coins that they were going to have to pay to ship to the coin processing company that I could buy at face value so they could save money on the processing fee. She was happy to sell me a $200 bag of nickels, unrolled and only counted by their coin counting machine. I accepted that, bought the nickels and took them home. 4,000 nickels in one bag is not lite but it looked worse than it was for carrying.
I thought this solution seemed easy enough so I started dropping in at the credit union once or twice per week. At first they said they didn't have any bags of nickels for me to buy and then after about two weeks they told me they weren't allowed to sell me bulk nickels anymore and that their manager told them it was not allowed. I found this to be a little annoying, after all I was trying to help them to save processing fees by buying the nickels in a $200 bag so they didn't have to pay the shipping for the nickels.
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 03/24/2010 : 07:24:40
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I had this same experience at my credit union, trying to buy two bags of $50 pennies they had ready to ship out. It took thirty minutes to convince them that they were saving fees, and didn't need to unroll and hand count customer rolls in the future, just call me and I would pick them up. They were concerned that their account number was on the bag already like I'm going to be some internet criminal? or sell it to the Russian mafia?  It is frustrating!  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 03/25/2010 : 04:38:42
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When non-coin/PM/enthusiast sites start posting articles, you know you are on to something.
0CD |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 03/25/2010 : 07:56:33
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| Just try a different bank I found one that every Monday I can get one bag of nickels and the have carried them out to the car for me. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/25/2010 : 08:39:42
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| I'm still having no problems getting $100.00 boxes of nickels except on the rare occasion that they don't have any in stock. In fact I just bought a box this morning. I think you would have better luck at a commercial bank rather than a credit union. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 03/25/2010 : 09:09:54
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Will someone please explain this to me!!
I don't understand the logic in investing in nickels! What makes the nickel more valuable is the copper content.... Let's take this example i.e. $10 worth of nickels is worth 11.02 looking at the metal base value using coinflation. Currently the same $10 in copper pennies is worth $21.98! So help me understand why I would want to tie up $10 to have the potential to make $1.02 over face versus $11.98 over face! I understand you might luck up and find a war nickel but it still makes no sense to me why anyone would want to keep nickels over pennies unless you are just bored. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/25/2010 : 09:32:03
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quote:
Originally posted by Copper Catcher
Will someone please explain this to me!!
I don't understand the logic in investing in nickels! What makes the nickel more valuable is the copper content.... Let's take this example i.e. $10 worth of nickels is worth 11.02 looking at the metal base value using coinflation. Currently the same $10 in copper pennies is worth $21.98! So help me understand why I would want to tie up $10 to have the potential to make $1.02 over face versus $11.98 over face! I understand you might luck up and find a war nickel but it still makes no sense to me why anyone would want to keep nickels over pennies unless you are just bored.
Mostly its the time and effort involved with sorting, re-rolling, and dumping the rejected zinc cents pennies. Not to mention the investment involved in a sorting machine if you want to go big time. Other than that I tend to agree with you. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 03/25/2010 : 09:57:43
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| Well, looking at the "How Much Is Enough" poll I think there are quite a number of folks in the "big time" category on here. I guess it is ok to be a small fry. :-) |
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ScottyTX
Penny Hoarding Member
USA
508 Posts |
Posted - 03/25/2010 : 11:53:19
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quote:
Originally posted by Copper Catcher
Will someone please explain this to me!!
I don't understand the logic in investing in nickels! What makes the nickel more valuable is the copper content.... Let's take this example i.e. $10 worth of nickels is worth 11.02 looking at the metal base value using coinflation. Currently the same $10 in copper pennies is worth $21.98! So help me understand why I would want to tie up $10 to have the potential to make $1.02 over face versus $11.98 over face! I understand you might luck up and find a war nickel but it still makes no sense to me why anyone would want to keep nickels over pennies unless you are just bored.
I completely agree on this subject. They have no value at this point other than a nickel to most anybody out there. Why? Anybody can get them at face. The only logic I can see here is for long term investment. As long as the metal content stays the same in production, I will be in no hurry to run down to the bank to get any. They will be there until something changes so I'm just going to let the bank store them for me and keep my capital freed up for more worthy causes. But who knows, maybe in a few years banks might not just give nickels and penny boxes out for free anymore? |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 03/25/2010 : 15:54:24
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I see it as 1964 buying a roll of silver dollars at the bank. They are face value, but very soon the tap will be shut off.
If I get a roll of nickels for $2 and set it aside it will appreciate in dollars far faster than "money in the bank." |
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 - 03/25/2010 : 15:55:43
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| I also like that "Mr Smith" was just ahead of "Morphius." |
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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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/25/2010 : 17:08:12
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quote:
Originally posted by ScottyTX
quote:
Originally posted by Copper Catcher
Will someone please explain this to me!!
I don't understand the logic in investing in nickels! What makes the nickel more valuable is the copper content.... Let's take this example i.e. $10 worth of nickels is worth 11.02 looking at the metal base value using coinflation. Currently the same $10 in copper pennies is worth $21.98! So help me understand why I would want to tie up $10 to have the potential to make $1.02 over face versus $11.98 over face! I understand you might luck up and find a war nickel but it still makes no sense to me why anyone would want to keep nickels over pennies unless you are just bored.
I completely agree on this subject. They have no value at this point other than a nickel to most anybody out there. Why? Anybody can get them at face. The only logic I can see here is for long term investment. As long as the metal content stays the same in production, I will be in no hurry to run down to the bank to get any. They will be there until something changes so I'm just going to let the bank store them for me and keep my capital freed up for more worthy causes. But who knows, maybe in a few years banks might not just give nickels and penny boxes out for free anymore?
That's based on the assumption that you will still be able to get them at all in a few years or at least in the quantity that you desire. In addition, once they change the metal content of the nickel then you will have to start to sort. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/25/2010 : 17:14:45
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quote:
Originally posted by coppernickel
I see it as 1964 buying a roll of silver dollars at the bank. They are face value, but very soon the tap will be shut off.
If I get a roll of nickels for $2 and set it aside it will appreciate in dollars far faster than "money in the bank."
I see it that way too. If I could still go to the bank and buy boxes of 100% pre 1982 brass pennies then I would. But those days are gone too.
Not only are nickels better than money in the bank, but they are a lot easier to cash out of if you ever really needed the cash.
But I'm not trying to twist any one's arm. If anyone doesnt want nickels then don't buy them. Just don't have a cow when those of us do. It's our money. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 03/25/2010 : 17:18:51
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$10 in 95% copper = $21.98 metal value
versus
$10 in nickels = $11.02 metal value
I'll stick with pennies and take my chances that I want be able to get any nickels when the time comes.... :-) |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/25/2010 : 17:21:27
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| Fine! |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/25/2010 : 18:55:30
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| Wouldn't it be better to have a hundred dollar brick of nickels than a hundred dollar bill. The nickels offer inflation/deflation protection and if you run out of penny purchasing money you can always trade a brick of nickels for more sorting pennies. |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 03/25/2010 : 20:18:31
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I read the stories now and see the problems of trying to get more nickels than a box. I am small ttime. I have a real easy time getting 1-5 rolls each time I am in the bank, and no one notices. I have bought one boxe twice with a few odd looks.
With a goal to remain under the radar, a few here and a few there for as long as I can is the best way for me.
I just wish in 1964 I would have collected a few rolls of quarters or dimes in the same way. Well, better late than after the opportuniy is really gone. |
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 - 03/25/2010 : 20:20:12
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Lots of opinions. I have given you mine.
Do what you think is best, and as Don says in his colunm, "protect yourself." You must be logged in to see this link.
I enjoy this forum for the discussion.  |
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. |
Edited by - coppernickel on 03/25/2010 20:21:58 |
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cpthnsolo
Penny Sorter Member
50 Posts |
Posted - 03/26/2010 : 10:59:44
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quote:
Originally posted by Copper Catcher
$10 in 95% copper = $21.98 metal value
versus
$10 in nickels = $11.02 metal value
I'll stick with pennies and take my chances that I want be able to get any nickels when the time comes.... :-)
Metal prices move together so if pennies are ever worth a dime each nickels will probably be worth a quarter each. With nickels there is NO sorting, rolling, dumping, and driving to 6 different banks to pick up boxes. Ultimately you save hours upon hours of time by stockpiling nickels so for those of us with a fulltime job and family nickels are the way to go. I sort pennies on occassion but you just can't beat the convenience of nickels. The only question I have is why wouldn't someone hoard both ;)? |
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johnbrickner
Penny Pincher Member
154 Posts |
Posted - 03/27/2010 : 20:33:30
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I sort & horde both. I horde nickels for two reasons: The numismatic value and the increase in value of both the nickel and copper. In the last three months copper has increased in value about 10%. In the same time Nickel has increased in value about 30%.
On the numismatic side, the nickel is the only u.s. coin still in circulation not debased. Last year they only made about 80 million of these bad boys. This year they are making none.
One only has to look at the numbers and see the no brainer in penneys. But, how do you know when your eyes look at the numbers and can see the future?
It's a jungle out there. |
"I Killed the Bank" from the tombstone of Andrew Jackson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/27/2010 : 20:51:24
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| I hoard both.. just not as many nickels. The reason someone might not hoard both is lack of capital. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 03/27/2010 : 20:58:08
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I hoard both too. I'm glad to see so many admit that they do. As they say, the first step to recovery is to admit you have a problem.  |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 03/27/2010 : 21:16:47
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| I think that just about everyone here has a hoarding problem. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/27/2010 : 21:27:17
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| *Has no hoarding problem* |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/27/2010 : 21:32:12
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I remember us moderators & administrators talking about avoiding the use of the term hoarding when we titled the forums so Realcent would attract more members. Well, you can put lipstick on a pig but..............  |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/27/2010 : 21:41:34
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| *Had Ham for dinner tonight* |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Stockpiling Nickels: Lew Rockwell Today...
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