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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 03/11/2008 : 16:14:36
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I don't understand why anyone would hoard nickels over pennies. Aren't nickels basically copper now anyway? Isn't there more upside potential in penny hoarding (1.5-3:1 vs. 6.5-7:5)? Wouldn't it be more expensive and/or difficult to unlock the alloy in a nickel? If I'm missing anything here, please feel free to set me straight, as I'd love to be convinced otherwise. 
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MormonMetal
Penny Pincher Member
USA
150 Posts |
Posted - 03/11/2008 : 16:40:36
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| The only real plus on the side of nickels is the relative easy or hoard. No sorting involved in the States. That's the only plus I see. I, like many here, will keep all I get in change, and maybe pick up a few rolls from time to time. Otherwise, I'm a penny man. But for people with little time to sort, nickels are a good move away from fiat. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/11/2008 : 18:19:27
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| You are right about the lack of profit potential in nickels. I do nickels to get out of fiat also. Article today on coinflation site talks about congress looking at law allowing treasury to change composition of metal in both pennies and nickels. This could change things quickly and it would be better to get in early. A steady drip fills the bucket. |
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Ant
Penny Hoarding Member
USA
894 Posts |
 Posted - 03/18/2008 : 22:12:58
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I pick up $10 in nickels a week, not a lot. I'm not really thrilled with nickels, but nickel is four times the price of copper.
I don't even take the nickels out of the wrappers. This is how every sorting report would read: Went to the bank, picked up 5 rolls of CWN. Stacked them in the closet next to the other ones. W00t!  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 03/19/2008 : 06:06:30
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quote:
Originally posted by Ant
I pick up $10 in nickels a week, not a lot. I'm not really thrilled with nickels, but nickel is four times the price of copper.
I don't even take the nickels out of the wrappers. This is how every sorting report would read: Went to the bank, picked up 5 rolls of CWN. Stacked them in the closet next to the other ones. W00t!
That's about it until they come out with the steel nickels here in the states too. It might not be a bad idea to post buying reports since some members are starting to report that their banks are refusing to place nickel orders or provide them with a lot of nickels. |
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Think positive. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/19/2008 : 07:41:43
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| I have done 3 boxes of nickels looking for silver war nickels and buffaloes, but may consider holding onto them in case congress makes the composition change. I dont plan to go large scale right now but have about $300 worth set aside. I have mixed feelings on the idea of hoarding alot, but if nickel spikes again then people will start hoarding these. I guess it's a good idea to get in early in case these things happen (especially since there are people mentioning having problems getting these). |
My hobby: collecting real money 1 copper cent or nickel at a time.
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n/a
deleted
3 Posts |
Posted - 03/19/2008 : 08:08:54
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As I stated in my first post I have access to couple of hundred dollars in nickels a week. I can afford to put fifty or more dollars a week away in nickels.
What would be the advantage of keeping the nickels as opposed to just taking that same fifty and buying silver every week?
I suppose there is the potential of silver going down in price and the nickel will always be a nickel.
Anything i'm not thinking of? |
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Crash
Penny Pincher Member
USA
155 Posts |
Posted - 03/19/2008 : 14:31:58
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| I agree with others, that hoarding copper pennies is the better move. Unfortunately, time has been a factor for me lately and I've been mainly buying rolls of nickels. It makes me feel like I'm at least doing something. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/19/2008 : 18:12:00
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| Nothing wrong with hoarding nickels. I have a few boxes myself. The theoretical advantage is that you do not need to sort them. Of course there are those of us that just have to peek anyways. Nickels are more of a buy and hold play. Of course you could also do that with unsorted pennies.. nobody says you have to sort the pennies.. you could just buy them and store them. There will probably be a market for unsorted boxes at some point. On nickels if I am holding them just for their metal content I try to get BU nickels. The cost is the same and you also have the numismatic upside because there is always a market for boxes of BU nickels. |
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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n/a
deleted
192 Posts |
Posted - 03/20/2008 : 00:32:38
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I buy and hold both nickels and pennies.
The nickels will very likely never be sorted.
Someday ... not anytime soon, I will turn in the nickels for their melt value.
My guess as to time scale is 10 or 15 years from now.
The pennies will in all likelihood be sorted someday.
I can see three possible scenarios:
1. I will sort them myself when doing so becomes clearly profitable.
2. Whoever I give them to will sort them, probably my daughter, but who knows?
3. I will pay someone to sort them.
The third scenario is interesting.
Let's say that the USA govMint or some official agency says,
"You have 90 days to redeem your pennies, after that, they will be worthless."
or some similar statement.
In that case, I would hire the cheapest labor available, perhaps the mexican guys who stand around in front of the lumber yard looking for an honest days work.
I would let them sort the pennies and pay them in zincs.
Imagine that the mexican guy craks open a box of unsorted pennies.
He finds 10% coppers and 90% zincs.
I don't think it is unrealistic that I could give him the zincs for his labor and then he would have to "spend" them within the 90 day window.
Is this scenario unrealistic?
If so why? |
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/20/2008 : 06:27:37
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In 10 years it will be hard to find those illegals....I would keep pennies past the "redemption" date as long as the metal content is still worth more than $0.01. Then off to the scrap pile eventually. Besides, what do you think you could buy with a dollar, let alone a penny in 5-10 years? Not much....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/20/2008 : 14:11:22
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| There is one other scenario for unsorted boxes. They could be sold "as is" to someone else that would do the sorting. There will be a market value for unsorted boxes once the copper runs out. |
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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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 03/20/2008 : 21:05:06
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quote:
Originally posted by me2
I buy and hold both nickels and pennies.
The nickels will very likely never be sorted.
Someday ... not anytime soon, I will turn in the nickels for their melt value.
My guess as to time scale is 10 or 15 years from now.
The pennies will in all likelihood be sorted someday.
I can see three possible scenarios:
1. I will sort them myself when doing so becomes clearly profitable.
2. Whoever I give them to will sort them, probably my daughter, but who knows?
3. I will pay someone to sort them.
I'm hoarding illegals
The third scenario is interesting.
Let's say that the USA govMint or some official agency says,
"You have 90 days to redeem your pennies, after that, they will be worthless."
or some similar statement.
In that case, I would hire the cheapest labor available, perhaps the mexican guys who stand around in front of the lumber yard looking for an honest days work.
I would let them sort the pennies and pay them in zincs.
Imagine that the mexican guy craks open a box of unsorted pennies.
He finds 10% coppers and 90% zincs.
I don't think it is unrealistic that I could give him the zincs for his labor and then he would have to "spend" them within the 90 day window.
Is this scenario unrealistic?
If so why?
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 03/20/2008 : 21:06:25
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quote:
Originally posted by me2
I buy and hold both nickels and pennies.
The nickels will very likely never be sorted.
Someday ... not anytime soon, I will turn in the nickels for their melt value.
My guess as to time scale is 10 or 15 years from now.
The pennies will in all likelihood be sorted someday.
I can see three possible scenarios:
1. I will sort them myself when doing so becomes clearly profitable.
2. Whoever I give them to will sort them, probably my daughter, but who knows?
3. I will pay someone to sort them.
The third scenario is interesting.
Let's say that the USA govMint or some official agency says,
"You have 90 days to redeem your pennies, after that, they will be worthless."
or some similar statement.
In that case, I would hire the cheapest labor available, perhaps the mexican guys who stand around in front of the lumber yard looking for an honest days work.
I would let them sort the pennies and pay them in zincs.
Imagine that the mexican guy craks open a box of unsorted pennies.
He finds 10% coppers and 90% zincs.
I don't think it is unrealistic that I could give him the zincs for his labor and then he would have to "spend" them within the 90 day window.
Is this scenario unrealistic?
If so why?
Along with copper cents, I'm hoarding illegals |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/20/2008 : 21:09:33
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| I was going to too, but there is just not enough room for them.. and the storage costs would kill you. |
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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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 03/20/2008 : 21:13:00
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| I would have to disagree, HCBTT, they are very industious, and willing to sleep ten to a room |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/20/2008 : 22:22:05
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| Oh, I forgot you could stack them like boxes of pennies. I will have to reconsider. |
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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n/a
deleted
192 Posts |
Posted - 03/20/2008 : 23:59:13
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I did not intend to imply that I had any intention of exploiting another human being.
What I meant to say is that I would pay them for their labor, fair and sqware.
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/21/2008 : 01:23:54
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We are just having a little fun Me2.
Now remember, none of you should exploit any bank tellers tomorrow. |
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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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 03/23/2008 : 21:06:14
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| My mom lives in a ski resort town. They get a lot of Canadians that come down to ski. A couple of months ago, I got $50 in nickles at the bank and sorted them. There was a fair % of canadian nickles and som eof the pre '81 variety. I did not feel it was worth doing again, but maybe I should not give up on the first try. I'll get a larger batch some day and post the % |
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n/a
deleted
8 Posts |
Posted - 04/10/2008 : 13:08:22
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| Pre 1964 Nickels on ebay you can sell 2x+ face value. I just started to pull those out. Not worth hoarding, but selling, yes =) |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/25/2008 : 08:22:46
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| I'm currently saving AU-BU nickels, as well as pre-1960's (I'm not quite sure why I picked that date). I am starting to like nickels a little more every day. I especially like some of newer designs (with the Buffalos being the best). |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 04/26/2008 : 22:39:43
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| I keep anything '59 or older. I currently just recycle the others to get more sorting material. |
Are you throwing that out? |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/27/2008 : 08:32:10
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| Smart thinking. It would just lock-up too much needed liquidity. |
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 04/28/2008 : 13:01:28
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| Is there any particular value to pre-'60 Jefferson nickels other than the war nickels? i understand that the '39D and '50D are the key dates for these, but are other dates worth saving/selling in average condition? |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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Frugi
Administrator
USA
627 Posts |
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Why Hoard Nickels?
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