All the metals are down today. Copper, nickel, silver, and gold all are down on the markets. Coinflation has not adjusted the metal value of the coins last time I looked. So what did I do today? I went out and bought $100 more nickels. Tomorrow I might pick up a few silver eagles.
Unlike pre-82 pennies, nickels are on the edge of the profit line for their metal value. With lower copper and nickel prices many people may put-off or even stop hoarding them. I take this correction as a good thing because it allows even more time for me to build-up my hoard.
I started to worry that the rush would be on for these little treasures and that the banks would stop selling them in mass. At least some of that pressure is off for a while.
Some of this may hold true for you penny pinchers too.
Bad money drives out good money.
Edited by - Ardent Listener on 05/15/2006 20:28:38
I took advantage of the lower price of silver today by trading some of my sorted pennies at 2X face for some 90% silver. If I do not include my time sorting I made a pretty good profit today.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost
Metals are all down today. 5/15/06
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Posted - 05/15/2006 : 20:25:21
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