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 Posted - 09/06/2006 : 17:15:18
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## Old_Nickel's Monthly Nickel Report ##
#-Issue 1: 9/6/06-#
This is the first issue of Old_Nickel's Monthly Nickel Report. I will try to update this thread every month. Feel free to reply to this thread.
First, an introduction. Inspired by certain Web sites, including this forum, I decided to collect pre-1962 nickels (1961 and earlier) last July. At the same time, I bought the entire set of circulated "War Nickels" off eBay, given that I would most likely not find these nickels in circulation.
Why pre-1962 nickels? After all, when circulated they are still worth only face value. I'm mainly collecting them for fun. The year 1962 is chosen because when I was younger, my grandparents gave me old coin books, including a 1938-1961 Jefferson Nickel book with some nickels inside. I never added to them, however, until now.
All nickels this month, with the exception of the "war nickel" purchase I previously mentioned and a one-time search through my father's bucket of change, were acquired from pocket change, mostly from where I work (a grocery store), from either the cash registers or the soda machines after making a purchase.
Here is the report from 7/?/06 until 9/6/06:
(The next issue will cover 9/6 until 9/30, newer reports will be on a monthly basis.)
Values (via Coinflation): 9/6/2006
Scrap Metal Value: $0.07
Bullion Value (War): $0.72
Total Nickels in Collection: 37
Current Face Value: $1.30
Current Metal Value: $9.86
Report from 7/2006 until 9/6/2006
Nickels Deposited In Bank: 80
Nickels On Hand: 27
Pre-1962 Nickels Saved: 3
Percent Pre-1962: 2.80%
Note that the amount and percent of pre-1962 nickels this issue may be greater than listed, since some nickels may have been put into the coin book before I started counting them.
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes
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Posted - 09/30/2006 : 20:41:22
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## Old_Nickel's Monthly Nickel Report ##
#-Issue 2: 9/30/06-#
This is the second issue of Old_Nickel's Monthly Nickel Report. I will try to update this thread every month. Feel free to reply to this thread.
There were very little nickels received, and no old nickels received, since the last issue of this newsletter (9/6/06). This is due to several reasons, namely the fact that I've been trying to stick to water instead of soda for dental and weight reasons. I had mentioned the convenience of the 45c Coke machine, but that machine is unmaintained and recently sold out after weeks of expired soda. The nearby Pepsi machine (40c) spits out dimes instead of nickels when you put in two quarters.
Metal values also dropped slightly since 9/6/06, with values of silver war nickels dropping 9 cents and regular nickels dropping less than 1 cent.
All nickels were acquired from pocket change.
Values (via Coinflation): 9/29/2006
Scrap Metal Value: $0.07 (-$0.00 since 9/6)
Bullion Value (War): $0.64 (-$0.09 since 9/6)
Total Nickels in Collection: 37 (+0 since 9/6)
Current Face Value: $1.30 (+$0.00 since 9/6)
Current Metal Value: $8.84 (-$1.02 since 9/6)
Report from 7/2006 until 9/30/2006
Nickels Deposited In Bank: 80 (+0 since 9/6)
Nickels On Hand: 33 (+6 since 9/6)
Pre-1962 Nickels Saved: 3 (+0 since 9/6)
Percent Pre-1962: 2.65% (-0.15% since 9/6)
Note that the amount and percent of pre-1962 nickels may be greater than listed, since some nickels may have been put into the coin book before I started counting them.
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Posted - 10/06/2006 : 16:18:38
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## Old_Nickel's Monthly Nickel Report ##
#-Issue 3: 10/6/06-#
Apparently there was a mistake in my math which made the estimated percentages of pre-1962 nickels greater than they should be.
Issue 1 should have read: 2.73%
Issue 2 should have read: 2.59% (-0.14% change since 9/6/06)
While I'm writing an issue of this report, here is a "sneak peek" at Issue 4, due to my acquisition of a nice 1960-D after a purchase of a bottle of iced tea:
Current Percentage: 3.42% (+0.83% change since 9/30/06)
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Posted - 10/06/2006 : 18:34:32
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Ah, the over looked nickel, formerly known as the half dime. Still a great set to collect from change with many dates easily available cclear back to the start, if a roll search is done. Of course nice finds are the well hyped 50-D, 38-S 42-46-D over horizontal D-- big time$$$$ and the 43-45-p double eyes. Now if you like a perfect modern struck specimen go with a 94 or 97 matte finish from a C&C set. Absolute Jefferson perfection in those with a 50k and 25k mintage respectively.
Keep an eye for the 'Full Steps' in any year. All six steps should be clean and well defined. Any Nickel collector worth his salt will have those special FS years filled and pulling his hair to find the early fifties examples.
Keep us updated, and let us know when you find a FS in change. It does happen.
On a side note we may lose the nickel before the cent, which should be in 09 |
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Posted - 10/09/2006 : 00:17:03
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quote:
Keep us updated, and let us know when you find a FS in change. It does happen.
I looked through my coin counter, and did find two almost-full steps (one in the 90s and one 2006) but they had some chipping and/or blurring.
I think I may start looking for them now in addition to the pre-1962 ones.
quote:
On a side note we may lose the nickel before the cent, which should be in 09
I doubt we're losing anything. It's akin to us switching to the metric system; it just one of those things that won't happen in America. It's not like switching from gold to fiat money, as that was only the backing of existing money.
However, we may get cheaper steel coins as some of the Canadians here suggest (it happened to them already). If this is the case, they will likely circulate in addition to the copper, cupronickel, and zinc ones currently in circulation.
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Posted - 10/31/2006 : 15:12:03
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## Old_Nickel's Monthly Nickel Report ##
# Issue #4: 10/31/06 #
Nothing much new to report here. Another pre-1962 nickel (mentioned in issue #3), rising metal prices, and a bank deposit the other day.
Values (via Coinflation): 10/31/2006
Scrap Metal Value: $0.07 (+$0.00 since 9/30)
Bullion Value (War): $0.69 (+$0.04 since 9/30)
Total Nickels in Collection: 38 (+1 since 9/30)
Current Face Value: $1.35 (+$0.05 since 9/30)
Current Metal Value: $9.41 (+$0.57 since 9/30)
Report from 7/2006 until 10/31/2006
Nickels Deposited In Bank: 120 (+40 since 9/30)
Nickels On Hand: 3 (-30 since 9/30)
Pre-1962 Nickels Saved: 4 (+1 since 9/30)
Percent Pre-1962: 3.15% (+0.56% since 9/30)
Note that the amount and percent of pre-1962 nickels may be greater than listed.
Happy Halloween!
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Posted - 11/30/2006 : 21:51:10
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## Old_Nickel's Monthly Nickel Report ##
# Issue #5: 11/30/06 #
A Thanksgiving vacation to Florida resulted in less work, and thus less spending (didn't spend much down there, though the price of a sub sandwich and a bottle of soda in the airport is a preview of TSHTF). Nevertheless, there are some new nickels, including a Full Step I found in pocket change from 2006. Silver went up a lot, too, which was good for the price of the war nickels.
Values (via Coinflation): 11/30/2006
Scrap Metal Value: $0.07 (+$0.00)
Bullion Value (War): $0.78 (+$0.10)
Total Nickels in Collection: 39 (+1)
Current Face Value: $1.40 (+$0.05)
Current Metal Value: $10.54 (+$1.13)
Report from 7/2006 until 11/30/2006
Nickels Deposited In Bank: 120 (+0)
Nickels on Hand: 8 (+5)
Pre-1962 Nickels Saved: 4 (+0)
Percent Pre-1962: 3.01% (-0.14%)
Full Steps Saved: 1 (+1)
Percent FS: 0.75% (+0.75%)
Note that the amount and percent of pre-1962 nickels may be greater than listed.
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 11/30/2006 : 22:03:30
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I think the 2006 "Return to Monticello" nickels had the reverse design redone to show more detail. Should be easier to find full step nickels now. I'll have to take a magnifying glass out and look.
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 12/04/2006 : 20:11:11
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Interesting posts, Old Nickel. Would you be willing to swap old nickels for new?
I have been setting aside some 1960 and earlier nickels that I find.
I am especially proud of finding a 1939 nickel in a crack in the pavement. It looks to be in very good condition. |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 12/05/2006 : 12:26:30
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I started my coin collection sometime around 1978, and nickels were the first set I started working on. I lost interest after high school, but recently dug out my old nickel coin folders to make the first new addition to the set since the early 80's:
I received a 1942-d in change last week! I would grade it somewhat optimistically as Fine. All four pillars on the back are there, but the coin is somewhat discolored - darker than normal nickels. According to my 1996 Red Book (I don't have a newer edition) the retail price for this nickel is $0.75. And yes, in all my years of searching nickels as a youth I had never found a 42-d, so it fills one of the ~10 or so holes left in the folder.
I have lots of old nickels lying around in a couple of old fruit cake tins. I used to save nickels prior to 1964. There were a lot of nickels made in 1964, and 1964's are still about as common as dirt, so that's where my collecting threshold was. Also, I recently inherited some rolls of older nickels from my dad's estate. (He passed away a little over a year ago). My brother and sister, who supposedly know little about coins made the division in his old coins, and I got the bulk of the old BU penny rolls and some nickel rolls, while my brother made off with more of the silver.  Oh, well, I have not yet searched the rolls, but a quick spot check showed a lot of AU specimens from the mid-60's so they were probably put away 1964-68 or thereabouts. When my kids get a little older (5 and 2 now) they can help me go through them.
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Posted - 12/31/2006 : 19:38:09
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## Old_Nickel's Monthly Nickel Report ##
# Issue #5: 12/31/06 #
Some more full steps, I now have two 2003 and two 2006. I have also decided to start saving the 2005 buffalo nickels, since I came across one for the first time in ages last week. People must really be hoarding them like crazy.
Values (via Coinflation): 12/31/2006
Scrap Metal Value: $0.07 (-$0.00)
Bullion Value (War): $0.72 (-$0.06)
Total Nickels in Collection: 39 (+0)
Current Face Value: $1.40 (0)
Current Metal Value: $9.79 (-$0.75)
Report from 7/2006 until 12/31/2006
Nickels Deposited In Bank: 120 (+0)
Nickels on Hand: 20 (+8)
Pre-1962 Nickels Saved: 4 (+0)
Percent Pre-1962: 2.68% (-0.32%)
Full Steps Saved: 4 (+3)
Percent FS: 2.68% (+1.93%)
2005 Buffalo Nickels Saved: 1 (+1)
Percent 2005 Buffalo: 0.67% (+0.67%)
Note that the amount and percent of pre-1962 nickels may be greater than listed.
Happy New Year!
--
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Posted - 01/28/2007 : 21:32:44
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quote:
Originally posted by Atheist
My personal opinion is that coins are worth more as coins than they are as lumps of metal.
Someone added labor to those lumps of metal to turn them into coins.
Subtracting that labor by melting them into amorphous lumps, should, all things being eqwal, make them worth less.
No, that would be the fallacious Labor Theory of Value. The value of a thing is based on what it's good for and how hard it is to get. The actual amount of labor required to get it has no direct effect on its value. |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 01/29/2007 : 08:48:53
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quote:
Originally posted by mpjones
quote:
Originally posted by Atheist
My personal opinion is that coins are worth more as coins than they are as lumps of metal.
Someone added labor to those lumps of metal to turn them into coins.
Subtracting that labor by melting them into amorphous lumps, should, all things being eqwal, make them worth less.
No, that would be the fallacious Labor Theory of Value. The value of a thing is based on what it's good for and how hard it is to get. The actual amount of labor required to get it has no direct effect on its value.
Not to hijack Old_Nickel's thread, but I disagree with this. If something takes a lot of labor,time, skill, or fancy machines to make, then it will be more scarce, right? Illuminated manuscripts, Faberge eggs, handwoven Persian rugs, Tibetan sand mandalas... these things all take a large amount of time and effort to make, so fewer get made and are thus going to be "hard to get". Labor does have influence on value, but not always in a direct or proportional way.
(In my own profession, naval ship design, there is a quirk with Navy contracts. If a Navy ship takes longer to build, the shipyard is punished with more profits. Your tax dollars at work.... right!)
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Penny Search Totals:
806 zincs (1982-2006) 77.6%
227 coppers (1959-1982) 21.8%
4 wheats (1940-1950) 0.4%
1 dime (2004) 0.1%
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Posted - 01/31/2007 : 14:34:57
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quote:
(In my own profession, naval ship design, there is a quirk with Navy contracts. If a Navy ship takes longer to build, the shipyard is punished with more profits. Your tax dollars at work.... right!)
Similar to the common stereotype of construction workers and appliance repair people who slack off and take forever to get more money.
I'm sure that's not really the case, at least not with me (I'm a computer technician).
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
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Posted - 01/31/2007 : 14:52:43
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## Old_Nickel's Monthly Nickel Report ##
# Issue #6: 1/31/07 #
Less time working at the grocery store combined with less time shopping using cash has led to less new nickels to start off the new year.
In other news, I now have a greater percentage Full Steps than Pre-1962 nickels since I started collecting! (I do have a lot more Pre-1962, but they were there before the collecting began.) Most of the full steps are 2006, which someone mentioned chipped less easily. I have some 2003s as well.
I am no longer reporting "Nickel Collection," since most of the nickels there started WAY before I started collecting nickels in my spare change, and because I screwed up last time by not counting recent Full Steps. Coinflation values will still be provided for reference purposes.
The scrap metal and bullion values of the coins rose slightly as well.
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Values (via Coinflation): 1/31/2007
Scrap Metal Value: $0.07(+$0.01)
Bullion Value (War): $0.77(+$0.05)
Report from 7/2006 to 1/31/2007
Nickels Deposited in Bank: 120 (0)
Nickels On Hand: 27 (+7)
Pre-1962 Nickels Saved: 4 (+0)
Percent Pre-1962: 2.55% (-0.14%)
Full Steps Saved: 5 (+1)
Percent FS: 3.18% (0.50%)
2005 Buffalo Nickels Saved: 1 (0)
Percent 2005 Buffalo: 0.64% (-0.03%)
Note that the amount and percent of pre-1962 nickels may be greater than listed.
--
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes |
Edited by - n/a on 01/31/2007 14:54:40 |
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Posted - 03/01/2007 : 02:23:43
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## Old_Nickel's Monthly Nickel Report ##
# Issue #7: 3/1/07 (for the month of February) #
A full roll of nickels was finally made, though it has not yet been deposited at the bank. Also, some new full steps: 2001 and 2002.
Nickels Deposited in Bank: 120 (+0)
Nickels on Hand: 45 (+18)
Pre-1962 Nickels Saved: 2 (+0)
Percent Pre-1962: 2.26% (-0.29%)
Full Steps Saved: 7 (+2)
Percent FS: 3.95% (+0.77%)
2005 Buffalo Nickels Saved: 1
Percent 2005 Buffalo: 0.56% (-0.07%)
Values (via Coinflation):
Scrap Metal Value: $0.08 (+$0.01)
Bullion Value: $0.80 (+$0.02)
--
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes
CollectorCode: M22/?:US:US1P1958:US5N1961:CA1P:AO/Ag8 |
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Old_Nickel's Nickel Thread
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