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mickeyman
Penny Pincher Member
Canada
243 Posts |
 Posted - 03/25/2008 : 14:33:53
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I know a few other Canadians out there are collecting nickels. I'm curious about whether you are keeping the cupronickel ones as well or sending them back to the bank.
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Not all who wander are lost. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/26/2008 : 00:52:36
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Since no one else posted here I think I will though I live down south of Canada-
Whenever I get cupronickel Canadian nickels I set them aside for their future melt value. Granted, right now the melt value isn't much, but I figure cupronickel nickels, both US and Candain, are where copper cents were in 1983-1985, overlooked, a sleeper of a value waiting for its time to shine.
Inflation only gets worse as the years go by, so holding an asset that will appreciate in value as the years go by isn't a bad idea. |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 03/26/2008 : 01:59:00
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| I keep them, for now at least, and it takes little extra effort to do so. If I did not keep them, the money, that I would be holding in their place, would be in some other form other than nickels (or pennies). |
Edited by - dpwozney on 03/26/2008 02:19:11 |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/26/2008 : 09:15:14
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Checked the Charlton Standard Catalog and Canadian cupro-nickel is .75 copper, .25 nickel, these are for dates 1982-1989. It is my understanding that in 1999 the Canadian mint began using steel in their nickels not all nickels but in varied productions. If you can tell the difference great.
As a long term play (if you are only parking $ anyway) why be in paper of any type if you don't have to. Nickels are small enough not to take up much and if you ever hit a cash crunch they are still legal tender. Almost no risk other than collections don't pay interest (directly). |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 03/26/2008 : 16:32:35
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| The main reason I was asking is that I am starting to get numbers of rolls that have no nickel at all, but still have the cupronickel. I am trying to decide if it is likely the result of individual hoarders, or a commercial operation. One commercial I talked to keeps cupronickel and is holding it for a better price. But I do not know what the general consensus is. |
Not all who wander are lost. |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 03/27/2008 : 16:12:05
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I turn all my cupro's back out in the wild.
I only sort for .999. |
www.londongoldbuyer.com |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 03/27/2008 : 22:33:56
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quote:
Originally posted by fasTTcar
I turn all my cupro's back out in the wild.
I only sort for .999.
Aha! So you're the one. |
Not all who wander are lost. |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 03/28/2008 : 13:14:59
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| I only sort for the .999 too, but I am lazy about rolling/bringing back the rest so I have a lot of mixed post-81's around. I'm pretty broke right now for paper money though so I'm going to have to bring them in. Don't think I'll bother sorting for the cupronickel though. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/28/2008 : 18:21:43
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| In my opinion, it comes down to if you have someplace better to put your money than in Canadian Cupro-nickel nickels or not. I look at the cupronickel nickel as a hedge against both inflation and deflation. To each his or her own, but if you have already gone through the trouble of sorting Canadian nickels then to me it would be worth while to hold on to those cupronickels too. If I were in Canada I sure wouldn't want to have to start sorting all over again as the economy continues to tank. |
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Think positive. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/28/2008 : 19:34:10
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| It's not me. I sort out the pure nickel ones and the copper nickel ones, but I am still stuck with the other ones because there are no Canadian banks down here in California. |
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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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/19/2008 : 23:43:09
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Late poster, sorry, but I'll add my 5 cents. I keep the CuNi coins, but they go into jars rather then rerolling and storing them in mint boxes like the more valuable 0.999 Ni ones. I figure the CuNi have a longer hold time frame, and if they start moving there is plenty of time to roll them up for sale to collectors, or put in buckets for sale as scrap.
As for ditching CDN steel coins in the US - why not just mix them lightly into rolled recent date/damaged/scratched US nickels and send them back into the wild? I know you want to save all the US nickels but why tie up capital in steel CDN coins. You can always buy a few new rolls with the cash from selling the CDN/US mixed rolls. |
“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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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/06/2008 : 20:58:56
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| After finding 17 boxes of presorted nickels with Zero CuNi in them, I have gone back to keeping CuNi when I find it. |
“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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n/a
deleted
17 Posts |
Posted - 06/07/2008 : 14:08:45
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quote:
Originally posted by legacypac
After finding 17 boxes of presorted nickels with Zero CuNi in them, I have gone back to keeping CuNi when I find it.
I am starting to observe the same thing. It is increasingly difficult to find any nickels with any base metal content. I am keeping all CuNi for a long term play. I am also starting to realize that pennies are the way to go now as nickel yields diminish.
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/07/2008 : 18:41:55
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| I've taken to just asking for both. The number of available Nickels out there seems to be going down too. Hard to quantify, but week over week the banks seem to have less on average. Perhaps I was soaking up the extras gathering dust in the vaults on my first couple weeks, and now it is normal. Who knows. |
“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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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 06/14/2008 : 21:58:22
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| Sorry about the late post, As I inderstand it, the Canadian mint is pulling the CuNi from circulation? If so, the numbers surviving are going to be very slim. this will make for a good numismatic play in the future won't it?? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/15/2008 : 00:36:38
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| My buying confirms that the RCMint is pulling both Ni and CuNi coins via Coinage Distribution and possibly others. Therefore I am pulling all CuNi coins and dumping steel only. I've also heard that large amounts of CuNi have been exported for melt by private interests. |
“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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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 06/24/2008 : 10:01:50
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About nine months ago, when speaking with a company that was implementing the "alloy recovery program", I was told that they were pulling everything from 2000 and earlier. So yes, the cupronickel coins should disappear as well.
And I can personally attest that a very significant amount of the pre-82 nickels left the country. Legally, too, I might add.
Y'all better git while the gittn's good, before your government does.
Ma |
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What do you do with Canadian cupronickel?
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