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n/a
deleted
13 Posts |
 Posted - 04/17/2008 : 10:03:47
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On coinflation nickels are now worth 140% of face. When will it be worth it to start hoarding nickels? I know pennies are worth 260% of face but nickels involve no sorting...
Ideas?
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Edited by - n/a on 04/17/2008 10:05:12 |
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jorhyne
Penny Pincher Member
174 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/17/2008 : 10:10:22
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I started hoarding them about two years ago Kashmir. I got a ton or more like a tonne of them. When nickel was at its peak they were much closer to 200%. We have other threads regarding the pros and cons of hoarding them. Most people seem to be against U.S. nickels because they are cupro-nickel. They seem to be more popular on sites such as GIM than here. But I'm still bullish on them over the long term. Then again, I don't dump my zinc cents too.
I'm going to move this over to the nickel forums.
Ardent Listener |
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Think positive. |
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Mantokir
New Member
USA
22 Posts |
Posted - 04/18/2008 : 08:57:43
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quote:
Originally posted by Ardent Listener
I started hoarding them about two years ago Kashmir. I got a ton or more like a tonne of them. When nickel was at its peak they were much closer to 200%. We have other threads regarding the pros and cons of hoarding them. Most people seem to be against U.S. nickels because they are cupro-nickel. They seem to be more popular on sites such as GIM than here. But I'm still bullish on them over the long term. Then again, I don't dump my zinc cents too.
I'm going to move this over to the nickel forums.
Ardent Listener
Why don't you dump zincs? Just another metal you hope will rise? |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 04/18/2008 : 09:49:39
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quote:
Originally posted by Mantokir
quote:
Originally posted by Ardent Listener
I started hoarding them about two years ago Kashmir. I got a ton or more like a tonne of them. When nickel was at its peak they were much closer to 200%. We have other threads regarding the pros and cons of hoarding them. Most people seem to be against U.S. nickels because they are cupro-nickel. They seem to be more popular on sites such as GIM than here. But I'm still bullish on them over the long term. Then again, I don't dump my zinc cents too.
I'm going to move this over to the nickel forums.
Ardent Listener
Why don't you dump zincs? Just another metal you hope will rise?
Ardent just must be in a favorable position where he can keep his zincs as well. Many of us have to recycle those (meaning turning over your money) in order to purchase more unsorted penny boxes in the hopes of finding more copper.
I have a small hoard of nickels going. Mainly, I just sort them to find anything older than 1960 and also to keep all Westward Journey nickels. I occasionally find a silver war nickel as well. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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Edited by - TenBears on 04/18/2008 09:51:14 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/18/2008 : 14:56:51
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I think the real reason he doesn't dump his zincs is that he would have to sort those pennies to seperate that zinc out from the copper.  |
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 - 04/18/2008 : 19:12:22
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quote:
Originally posted by texcattlerancher
quote:
Originally posted by Mantokir
quote:
Originally posted by Ardent Listener
I started hoarding them about two years ago Kashmir. I got a ton or more like a tonne of them. When nickel was at its peak they were much closer to 200%. We have other threads regarding the pros and cons of hoarding them. Most people seem to be against U.S. nickels because they are cupro-nickel. They seem to be more popular on sites such as GIM than here. But I'm still bullish on them over the long term. Then again, I don't dump my zinc cents too.
I'm going to move this over to the nickel forums.
Ardent Listener
Why don't you dump zincs? Just another metal you hope will rise?
Ardent just must be in a favorable position where he can keep his zincs as well. Many of us have to recycle those (meaning turning over your money) in order to purchase more unsorted penny boxes in the hopes of finding more copper.
I have a small hoard of nickels going. Mainly, I just sort them to find anything older than 1960 and also to keep all Westward Journey nickels. I occasionally find a silver war nickel as well.
I'm far from being rich, but I do hold cash outside of banks. Yes, I do expect that the zinc cent will become honest money in the future so I hold them as a part of my cash reserve. Mostly though I just too busy to sort at this time so I just hold on to everything until I find the time and get my Ryedale. |
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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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n/a
deleted
5 Posts |
Posted - 04/24/2008 : 00:33:57
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By hoarding zinc cents now, you are starting out behind. The trouble with zinc pennies is that the metal value is only about 60% of face - even with an inflation rate of 10%, you are not going to be seeing them worth their face value for at least 6 years. Meanwhile, you are losing out on the interest you could be earning, not to mention intangible costs (storage, your time, possibility of loss, etc...).
Hoard pre 82 pennies and all nickels - they are worth more than their face value now, and you actually come out ahead if there is inflation or deflation. You should always turn your excess fiat money, whether paper or coin, into a working asset. Dump your zinc and use the cash to buy a CD, stock, bonds, silver or gold, or exchange it for more pennies to sort. |
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n/a
deleted
17 Posts |
Posted - 04/29/2008 : 18:25:33
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quote:
Originally posted by JosePluma
By hoarding zinc cents now, you are starting out behind. The trouble with zinc pennies is that the metal value is only about 60% of face - even with an inflation rate of 10%, you are not going to be seeing them worth their face value for at least 6 years. Meanwhile, you are losing out on the interest you could be earning, not to mention intangible costs (storage, your time, possibility of loss, etc...).
Hoard pre 82 pennies and all nickels - they are worth more than their face value now, and you actually come out ahead if there is inflation or deflation. You should always turn your excess fiat money, whether paper or coin, into a working asset. Dump your zinc and use the cash to buy a CD, stock, bonds, silver or gold, or exchange it for more pennies to sort.
Well said. I think that is probably the best strategy too. Although Zinc does have the possibilty to move rather explosively, and at a rate much higher than the rate of inflation. It could only take a year or two for zinc pennies to be worth more than their face value. |
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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
Posted - 05/02/2008 : 22:59:36
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| I'm already hoarding them, it's less time-consuming to me. |
I enjoy taking long walks off short piers. |
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Hoarding pennies and nickels?
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