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Agsearcher
01-15-2012, 01:04 PM
Something I read a few days ago has got me thinking, the value indicated on Coinflation may be a bit misleading.
A nickel is 75% copper, and 25% nickel
A penny is 95% copper, and 5% zink

Now what I read said that if tomorrow the government allowed the scrapping of pennies, that if I took a hundred pounds of pennies to be sold for scrap, I would not get the scrap price of copper. I would get far less because the scarp business would consider the 100 lbs of copper pennies to be graded as brass because of the copper zink alloy.
Just a sterling is not bullion but a silver alloy that requires refining.

radioone
01-15-2012, 01:09 PM
So many people concerned with melting....... Why melt?.... It will trade @ a X face just like 90% silver coinage..... Pennies already are..... Nickels will follow once manufacturing ceases...... JMO.
:)

Metal Is Real
01-17-2012, 06:30 PM
Agreed! Even if you could separate all the nickel out to get a .999 bar, why end up with a hunk of metal that you don't know what it is for sure and have to have it assayed (is that the correct term:confused: )?

You already know what the coins are. It eliminates the guesswork.

PaulRevere
01-17-2012, 07:05 PM
A friend of mine the other day informed me that a US Nickle cost's the US Govt $0.11 to manufacture.

Now, I know this is the US Goobermint ai am referring to. But someone with some assemblence of intelligence has to figure that out sooner or later and either start making plastic nickles or discontinue them all together.

Either way....

coindog
01-19-2012, 03:18 AM
i think they already have proposals/studys on switching to some steel alloy. the have to figure how to keep the size & weight very close for counters/sorters etc.

cpthnsolo
01-19-2012, 10:53 AM
So many people concerned with melting....... Why melt?.... It will trade @ a X face just like 90% silver coinage..... Pennies already are..... Nickels will follow once manufacturing ceases...... JMO.
:)

Yup, what he said :)... I brought home another box of nickels from the bank last week. 75/25 cupro-nickel is already bought and sold at larger scrap yards and the day they're legal to melt (which may never come, but that's okay too as they'll still be worth a premium) I'll be ready. IMO hoarding nickels now is like saving dimes back in 1961. People would have considered you a crazy person for saving dimes back then, but ultimately that proved to be a wise decision. It's no different now IMO. Just because copper and nickel aren't precious doesn't make them any less valuable. I just wish I had more space so I could take a larger position as once you have a dozen or more boxes space becomes an issue.

Savvy937
01-20-2012, 03:11 AM
I wish I had seen this thread about 2 weeks ago, had a bunch of nickels just from spare change via purchases and / or given to me by customers (took 'em to local Credit Union and put them in the change thing where it sorts them out and you can get cash or deposit directly into savings, checking, etc), then was given $4 worth of nickels rolled a week later! But I didn't want to hang on to them so I "cash dropped" them into my store's cash drawer. :mad: Stupid stupid me in retrospect. Otherwise I'd have a solid start on nickel hoarding. Live and learn via the Kitco forums...

I knew about the 95% copper pennies and been hoarding them for at least 6 months now (also inherited a penny collection including some '43 steels, a 1909 VDB, and many rolled years of pennies, some VF), but never thought of hoarding nickels until I seen this thread and the other one. Guess I got another 1/2 gallon milk jug to try to fill now... :D

Ten bears
01-20-2012, 06:33 AM
coinflation.com will give melt values for coins. Nickels have a little more than .05 of metal in them at current prices.

TB

Agsearcher
01-20-2012, 10:31 AM
i think they already have proposals/studys on switching to some steel alloy. the have to figure how to keep the size & weight very close for counters/sorters etc.

I think it was on coinflation that the mint is already punching different kinds of metal blanks to see what will work. I also read in the past few days that somewhere that some country has already made the switch. i think it was the UK and there were many problems with coin operated things. The metal they were using was Steel.

Mrpublic
01-20-2012, 03:38 PM
One of the biggest issues is vending machines. They accept a certain size and weight, and if the new coins will co-circulate with the old, they need to e the same diameter, thickness and weight. This is theoretically possible, but not necessarily easy or cheaper.

iouhc19
01-26-2012, 03:15 AM
I am not trying to be a nit picker. Hoarders or horders of pre 1982 pennies and present day nickels are in reality investors not hoarders. An investor is someone who is interested in buying low and selling high. A hoarder is one who accumulates large quantities of objects that would seemingly qualify as useless or without value.
Investing in pennies and nickels is the least expensive way in which a person of limited resources can acquire wealth. You don't have to pay any premium over the spot price which is a savings right there. Copper and nickel will always have more value than paper. Go to any hardware store and check out how much you have to pay for a few washers. That ought to let you see the investment value in pennies and nickels.
Back in the seventies if you invested in 1964 or older dimes, say just $1.00 a month up until today you would have approximately 52x10x12= 6240 dimes worth $14,976.00 at current melt value of $2.40. Not a bad return for a buck a month. Granted the closer you got to 2012 the harder it would be to find 10 pre '64 dimes, but i think you get the picture. From now on please consider it investing not hoarding.
I also believe we will not have liberty nor will the world be safe until 9/11 is re-investigated.
The future is now. Be prepared.

uksilverhoarder
01-27-2012, 05:09 AM
i think they already have proposals/studys on switching to some steel alloy. the have to figure how to keep the size & weight very close for counters/sorters etc.

this has already happened in the UK. In fact it happened in 1992!!! :eek: .. They replaced the 97% copper penny / 2 pence with copper coated steel core... now they are about to replace the 5p/10p coins.. Can you see what is happening here? prolonged continuous debasement... Our currency is almost steel/paper based!! around 100 years ago our coins where made of gold (sovereigns) and silver (crowns, half crowns, florins etc)..

I have been hoarding pre 92 pennies for over a year now just from what I get in my change.

iouhc19
01-27-2012, 07:03 AM
Today's melt value for the US nickel is $117.

Freedom
01-27-2012, 12:28 PM
I am not trying to be a nit picker....

Back in the seventies if you invested in 1964 or older dimes, say just $1.00 a month up until today you would have approximately 52x10x12= 6240 dimes worth $14,976.00 at current melt value of $2.40. Not a bad return for a buck a month..

I am a nit-picker....your formula is all screwed up...how can anyone get ten silver dimes at face value every month since the 70's? The whole premise of your theory is absurd, ridiculous, false and misleading!! (did i skip any useful adjectives?)

iouhc19
01-28-2012, 02:11 AM
Dear Freedom,
To answer your question .how can anyone get ten silver dimes at face value every month since the 70's?
They got the silver dimes the same way people are getting the pre 1982 pennies and current nickels from coins in circulation.

maxwellsilverhammer
01-30-2012, 11:19 PM
Today's melt value for the US nickel is $117.

wth are you talking about??? a nickel is worth one hundred seventeen dollars??? you have some splainin to do lucy.

Savvy937
01-31-2012, 12:38 AM
Today's melt value for the US nickel is $117.

I think you meant that for every 1000 nickels someone has, that was the melt value, yes? Because for every roll of nickels someone would get from a bank ($2), according to melt value as I type this it is $2.32. (.058 per nickel x 40 in a roll = 2.32)

Talk about potentially easy $ for almost nothing other than time, and being in a great position should nickels and copper pennies be done away with and needed to be melt down for whatever reason they may be needed for. I've been getting 4 rolls of nickels and pennies from 2 different banks where I have membership (going to each place once a week) the last few weeks. Been averaging 25% in terms of finding copper pennies (hand sorted and drop testing the 1982's of course) in the rolls. Also pulled a few wheaties but nothing major so far and no war nickels yet, just exchanging the FRN's for real $ and adding to the milk jugs...

naturalbornchaos
01-31-2012, 08:42 AM
Glad to see this thread. I've gathered all the pre-1982 pennies I could find in the house, and all the nickels as well. Granted I don't have a lot right now, but I am always searching my change. Every time I go to the bank I get a roll or two of nickels as well. I'm not going to put nearly as much $ into this as I do silver, but I figure it can't hurt, especially if the gov't changes the composition of (or does away with) these coins in the future.

iouhc19
02-01-2012, 11:39 PM
I am sorry. I made a mistake I ment to say a box of nickel or $100.00 worth has a melt value of about $114.40 as of 2/1/2012.

Freedom
02-02-2012, 02:24 PM
Dear Freedom,
To answer your question .how can anyone get ten silver dimes at face value every month since the 70's?
They got the silver dimes the same way people are getting the pre 1982 pennies and current nickels from coins in circulation.

When is the last time anyone here found a silver dime?
Let alone, ten per month!!!

I declare "Shenanigans!"

BobCo
02-02-2012, 02:39 PM
When is the last time anyone here found a silver dime?
Let alone, ten per month!!!

I declare "Shenanigans!"
WOW!
The OP was just making a point as to what could happen if you start stacking now.
How about if we use the example of grabbing pre-64 dimes from 1960 to 1970?

10years X 12month per year X 1 dollar a month = 1,200 dimes ($120) at todays price = $7,424.17 for a profit of $7,300 plus.

And it wasn't all that difficult to pull junk dimes in the early 70's either.

cds1949
02-03-2012, 01:45 PM
come home empty out my pockets toss nickles into a jar, been doing it for a year now, will continue to do it..
one day when the gov decides that it no longer can afford to make the nickel out of nickel, I (like you) will have saved a lot of money!
I love being ahead of the game!

Savvy937
02-03-2012, 05:04 PM
come home empty out my pockets toss nickles into a jar, been doing it for a year now, will continue to do it..
one day when the gov decides that it no longer can afford to make the nickel out of nickel, I (like you) will have saved a lot of money!
I love being ahead of the game!

I would recommend trading in some of your FRN's (say $10 a week minimum if you only have 1 bank account) for more nickels and pennies (if you copper hunt that is). I went earlier today to one of the banks where I have an account at, and when I made my swap (4 rolls of nickels and pennies), they did not have many nickels left, out of a contraption that can hold $100 worth of rolled nickels, she had maybe $14 left in there before I swapped for $8 of it. Pennies were unknown but even then, I pulled more coppers than I have before despite being shorted about 10 cents (Canadian $ plus people failing to roll the correct amount).

Needless to say, someone else in my part of the country has possibly caught on to collecting nickels and hence why I noticed she didn't have as much on hand as I thought she might. I figured at least $50 since business' need to make change with their customers and the only way they can replenish their coins (quickly and before the weekend anyway) is at the bank.

And besides, with just pocket change, you could go weeks at a time without getting a nickel or copper penny in your change, better to just load up now before everyone else catches on and then starts doing it.

Sucker4Silver
02-03-2012, 05:25 PM
When is the last time anyone here found a silver dime?
Let alone, ten per month!!!

I declare "Shenanigans!"

Actually, I found a silver dime in my change two days ago. A 1967 Canadian dime.

Second one I've found in pocket change in the past couple of months.

Doesn't happen very often anymore.

Dava0016
02-07-2012, 11:49 PM
Actually, I found a silver dime in my change two days ago. A 1967 Canadian dime.

Second one I've found in pocket change in the past couple of months.

Doesn't happen very often anymore.

dimes are the only silver in circulation that i find anymore. since Jan.1st I have found 3 (more than usual but they still around)

mespe
02-09-2012, 03:21 PM
(also inherited a penny collection including some '43 steels,
It's the '43 copper pennies that you want I've got rolls of the steel ones, and they're only worth a couple mroe cents apiece, but a role of '43 copper pennies would be well worth it.

Glacial Singer
02-09-2012, 08:14 PM
Only 43 copper I've ever seen was a copy, bright and shiney, sold on line as such,
As to roll searching , after $400.00 + over the last months, only found
3 2009 nickles , and only 1 2009 dime , as far as amount minted, red book 2012 has no listing ...any one else know the numbers ?

Savvy937
02-17-2012, 02:12 AM
Just went through my 1st roll of pennies I got before work today, and I kid you not, out of the 50 pennies in the roll, 43 were of the copper pennies I seek. No wheaties, but that is an absurd number % wise for these days, post 1982. That's almost as many as I end up pulling from 4 rolls combined. The next roll, I kid you not, had 44 that were copper. The 3rd roll netted a lowly 31 copper pennies, but the last roll I searched netted 48 out of 50 coppers! No wheaties in any of them, but this is the sickest pull I've ever had and maybe ever will have. I hit the damn jackpot today!!! :D :D :D

Stacker2
02-17-2012, 01:49 PM
Just went through my 1st roll of pennies I got before work today, and I kid you not, out of the 50 pennies in the roll, 43 were of the copper pennies I seek. No wheaties, but that is an absurd number % wise for these days, post 1982. That's almost as many as I end up pulling from 4 rolls combined. The next roll, I kid you not, had 44 that were copper. The 3rd roll netted a lowly 31 copper pennies, but the last roll I searched netted 48 out of 50 coppers! No wheaties in any of them, but this is the sickest pull I've ever had and maybe ever will have. I hit the damn jackpot today!!! :D :D :D

Are the 82's copper or only 81 and below.

redraspberry
02-17-2012, 01:52 PM
I went to the gas station last night. They were looking for $1s so I cleaned them out of all but one roll of nickels. Got $10 worth. :)

Agathon
02-17-2012, 02:56 PM
Are the 82's copper or only 81 and below.

Most of the '82s are copper (about 2/3, I think). Easy way to tell: just flip them in the air. The coppers "zing." The zincs make no noise. This helps when you can't read the date, too.

Agsearcher
02-17-2012, 04:02 PM
Every time I go into my credit union I make it a rule to pickup 2 rolls of nickels. That nets me 8 to 10 rolls a month. I need to up that count to 10 rolls a trip. They wont be around much longer as full nickel, nickel rolls. Soon we will have to sort the real ones from the new ones. Just like we now sort pre 82 penny's from the zinks now.
Don't be surprised if the new nickels and penny are a totally different kind of coin. With a completely different look, so they can be taken out of circulation quickly. You never know.

Atlas Shrugged
02-17-2012, 04:04 PM
I just added nickel stacking to my routine. Since Our Dear President wants to get rid of them.

Already saving all my pre-1982 pennies.

longonsilver
02-19-2012, 07:51 PM
I have decided to begin hoarding copper pennies and nickels. Has any body had trouble with banks when you ask them for rolls? What is a reasonable amount to ask the banks for. Do you all think this opportunity is any thing like taking the "junk silver" out of circulation after 1964? The people that were smart enough to do that when they had a chance made a lot of money.

redraspberry
02-19-2012, 07:54 PM
Just don't blurt out " Gimme all your nickels" in a threatening manner and you should be OK. :D

radioone
02-19-2012, 09:20 PM
I have decided to begin hoarding copper pennies and nickels. Has any body had trouble with banks when you ask them for rolls? What is a reasonable amount to ask the banks for. Do you all think this opportunity is any thing like taking the "junk silver" out of circulation after 1964? The people that were smart enough to do that when they had a chance made a lot of money.

I tend to give a call ahead of time so the nice ladies at the counter have notice to get the bricks transferred from the safe (by someone who doesn't mind the weight)...... But then, I only pick em up by the brick.... Not a roll here and there......

LeBoisslv
02-20-2012, 03:11 AM
I just added nickel stacking to my routine. Since Our Dear President wants to get rid of them.

Already saving all my pre-1982 pennies.

Right there with you Atlas. Also saving the pre-1983 cu pennies along with a box of nickels each pay day. Like buying a $100 savings bond. Worst case, I take the sealed boxes back to the bank. I did go through a $100 loose rolls of nickels for the first time last week. Found two buffalos and three war nickels....like a box of chocolates, you never know....:)

Mr Nobody
02-20-2012, 03:37 PM
dimes are the only silver in circulation that i find anymore. since Jan.1st I have found 3 (more than usual but they still around)

I've got a family member that works at a toll booth on a busy turnpike near me. I get on average one silver quarter every month from them, haven't found any other silver besides quarters.

Been keeping copper pennies from change and sorting bricks every now and then for a good while now. I look at it as savings. If copper rises, I make more money. If copper colapses, I just cash it out and lose zero money. I like those odds, lol.

McLovin
02-20-2012, 10:51 PM
I have decided to begin hoarding copper pennies and nickels. Has any body had trouble with banks when you ask them for rolls? What is a reasonable amount to ask the banks for. Do you all think this opportunity is any thing like taking the "junk silver" out of circulation after 1964? The people that were smart enough to do that when they had a chance made a lot of money.

I just walk up to the counter and ask for a box ($100) of nickels. If they ask why, I say I am filling up my slot machine.

johndaniels
02-21-2012, 08:12 AM
So many people concerned with melting....... Why melt?.... It will trade @ a X face just like 90% silver coinage..... Pennies already are..... Nickels will follow once manufacturing ceases...... JMO.
:)

you would never actually melt the coins; you would want to keep them in the original boxes; like the nickels come in the 100 boxes; unopened could be attractive to speculators (which are the only ones you'd consider selling to) for the chance of finding war nickels.

nothing to lose; you still have the face value with nickels; and the exact same principle of keeping pace with inflation and benefitting from hyperinflation.

This is part of the reason i think we wont see hyperinflation; hyperinflation is a psyop to get money into assets instead of savings; which are a liability to banks because they create money from nothing.

namwalker
02-21-2012, 11:37 PM
The only drawback to stacking Brink boxes of pennies is the amount of space and weight that they eat up compared to nickels. A $100 of copper pennies equals 4 brink boxes and weigh a total of 68 pounds. A $100 of nickels equals 22 pounds and in the space of 4 boxes of pennies you can store $400 of nickels. Plus you don't have to sort through them to have the good nickels. You must weigh through all pennies to find the ones worth saving. In my area you have to sort through 4 boxes of pennies to come up with just on box of copper pennies.

It less time consuming and troublesome to stack nickels. If really pressed you can stack $188 of nickels in a .30cal ammo can and have a unit that you can easily move if you have to.

That being said I do stack both pennies and nickels and do stack what I keep in .30 cal ammo cans just for the ease of stacking.

I have been told that a .30 cal ammo can filled with nickels makes a good bullet stop in a SHTF scenario (but I'd test it out first). You can also stash pennies in these same cans. Word of advice forget about stacking coins in a .50 can because it gets real heavy real fast and don't stack them in you attic unless you have taken precautions so they won't come through your ceiling while your sleeping.

As has been said before, the nice thing about stacking pennies and nickels is that in a pinch you can bring them back to the bank if you need the money.

merlinsword
02-22-2012, 06:26 PM
or a wheelbarrow full for a meal

DaySleeper
02-28-2012, 03:18 PM
Granted, maybe I'm thinking in the short term, but once the mint changes the composition of said nickels, wouldn't the demand go down a bit? Then again, maybe that's what they said in the 60's about silver coins...

Atlas Shrugged
02-28-2012, 03:31 PM
Granted, maybe I'm thinking in the short term, but once the mint changes the composition of said nickels, wouldn't the demand go down a bit? Then again, maybe that's what they said in the 60's about silver coins...

You see some penny hoarding, but it much more difficult because the zince pennies look like the copper pennies. If you end up with a "plastic" nickel, they will be hoarded immediately.

People hoarded silver money as soon as it was announced they were changing the composition.

jeffersonian
04-05-2012, 09:41 PM
A friend of mine the other day informed me that a US Nickle cost's the US Govt $0.11 to manufacture.

Now, I know this is the US Goobermint ai am referring to. But someone with some assemblence of intelligence has to figure that out sooner or later and either start making plastic nickles or discontinue them all together.

Either way....

Interesting thought to expand on. Nickels are only 25% Nickel and 75% copper. so in this price to manufacture, does this include labor and metals? I find this interesting because at the market price I'm assuming the Nickel or 25% metal made up in the current composition of the nickel would cost more than the copper put into it. So in truth is not even really a nickel, or pure nickel and still cost more than 5 Cents to produce. Not imagine if they used almost 100% to make a nickel. What would be the fair market value of a nickel then?? Same goes for the penny, cause it's not even copper they use much at all in it, yet price to produce is more than penny.

Point being they are using cheaper metals to produce, and cost more. Do we even know if labor is accounted for in this price structure? So in reality, if we didn't debase our currency, the real value of a nickel or penny would be more than coinflation says, because they would be make of the pure metal.

Something to think about as the dollar erodes in value every day.

Savvy937
04-16-2012, 07:52 PM
Man, nickel has been getting crushed lately, it was at one point 118% in terms of Metal % of denomination for the US nickels, now as I look at it, its 104.71%. Still above 100%, but who knows for how much longer, figuring that it will drop below the 100% mark. Maybe it's not the "ahead of the curve" investment us nickel horders thought it might be, no? IMO, it likely won't be until they wise up and change the composition of the US nickel to a cheaper alloy.

sheepdog_tx
07-24-2012, 10:01 AM
Something I read a few days ago has got me thinking, the value indicated on Coinflation may be a bit misleading.
A nickel is 75% copper, and 25% nickel
A penny is 95% copper, and 5% zink

Now what I read said that if tomorrow the government allowed the scrapping of pennies, that if I took a hundred pounds of pennies to be sold for scrap, I would not get the scrap price of copper. I would get far less because the scarp business would consider the 100 lbs of copper pennies to be graded as brass because of the copper zink alloy.
Just a sterling is not bullion but a silver alloy that requires refining.

Ok first brass iI can tell you from buying and selling a scrap yards that what they collect for copper and other metals to melt into ingot is far from pure (ranging in purity from old copper pipes with lead solder to electrical bus bars) yet they pay spot prices.

I would also argue that while I enjoy stacking copper and nickel I would start trading with locals in your area for lead ingots. I know this sounds nuts but lead is cheap ($.83 spot/LB) and getting rare with tire weights being phased out to zinc and steel. If it really goes SHTF for any length of time you can bet it will go up as alot of bullets and batteries get used up. Its pretty easy to store, a milk crate will hold 450 pounds of ingots flush in ones garage. At 7000 grains per pound you could argue theres 55,272 5.56mm projectiles there someone would pay a pretty penny (har har) to have. Tin is also a component here but I wouldnt buy it unless you could get scrap.

sheepdog_tx
08-14-2012, 02:32 PM
I am not trying to be a nit picker. Hoarders or horders of pre 1982 pennies and present day nickels are in reality investors not hoarders. An investor is someone who is interested in buying low and selling high.

So yes and no. Right now the pre 82 penny and the nickel are hovering roughly around thier value. Even with a significant change in economy I dont see these jumping much. There for not an investment as investmants are made for growth. I'd say this is more of a hedge fund, heres why.

Even in economic collapse where physical money with physical traditonal value (copper, silver, etc) no one with paper money can buy for face if anything. Therefore some even small amounts of coinage in physical value are needed for change, small purchases, etc, particularly from those with only barter avaliblity (items but no cash). Pennies will nto jump much if anything in value in such an economy as copper itself didnt get rarer, theres still plenty in powder lines, cabling, rain gutters, etc. But to have it in a trade friendly form is worthwhile. Same with nickels. This gives the avalibility to "make change" for higher forms of currency as well (ie silver, small amounts of gold, etc).

In other words those that turn thier nose up at storing copper and nickel better have a healthy supply of war nickels and silver dimes for change.

everything1
08-23-2012, 06:27 PM
Indeed copper pennies are being traded or sold in CTU or copper trade units. Envisioning paper money being worthless a trade unit of 100 copper pennies would likely hold more value than a paper dollar, and a box of copper pennies is $25, may not be as popular as silver trading units.

Agsearcher
08-24-2012, 08:56 AM
Ok first brass iI can tell you from buying and selling a scrap yards that what they collect for copper and other metals to melt into ingot is far from pure (ranging in purity from old copper pipes with lead solder to electrical bus bars) yet they pay spot prices.

I would also argue that while I enjoy stacking copper and nickel I would start trading with locals in your area for lead ingots. I know this sounds nuts but lead is cheap ($.83 spot/LB) and getting rare with tire weights being phased out to zinc and steel. If it really goes SHTF for any length of time you can bet it will go up as alot of bullets and batteries get used up. Its pretty easy to store, a milk crate will hold 450 pounds of ingots flush in ones garage. At 7000 grains per pound you could argue theres 55,272 5.56mm projectiles there someone would pay a pretty penny (har har) to have. Tin is also a component here but I wouldnt buy it unless you could get scrap.

I have over 300 lbs of printers lead in my shop. I sell it on fleecebay to guys that cast their own bullets. The composition of printers lead seems to be perfect for their needs. And you are correct lead takes up very little room.
I scrap/recycle anything and everything, I sold a load of "sorted office paper" last weekend for $74.00. Every scrap of paper that come off my press to set up a job (spoils) gets saved as well as all the scrap from the paper cutter. In my shop is a bucket for various kinds of scrap, copper, brass, aluminum, etc. It all adds up quickly. And turns into silver bullion.

captainsilverton
08-24-2012, 12:42 PM
im a pervert with pre 82's in copper and i trade a few hundred dollar bills a week for a few bank boxes of nickels,,thge boxes stack well if ya have the space and security,, i do.

i could make a 20' circular igloo if need be with my nickel boxes...have a room with a couplke steel I-beams below, weight is not an issue...

i enjoy, and i can..maybe crazy, but been doing it for years.
as far as pennies, we have a full time and a few part timers sorting on ryedels with big A$$ hoppers......been that way since we started a few years back...we move copper bullion via pennies..many buyers, and lucrative enough to continue....
call us crazy, but never lazy !!!

INCT

Roarmeister
08-25-2012, 09:12 PM
It's no big mystery what will work. Canada switched nickels to steel a decade ago with no problems.

All of our coins are plated steel now. From the $.05 on up to the $2 coin. The penny is deceased but it too was plated steel.

TheGeneral69
08-28-2012, 09:30 AM
Are pennies and nickels the only change worth saving? I have quite a bit of change I've racked up and want to make sure I'm only holding what is necessary. Are post '65 quarters/dimes and modern dollar coins worth holding?

SteelandSilver
09-06-2012, 09:47 PM
Hey CaptainSilverton, do you have one of those machines that rolls change neatly in a coinroll wrapper?

HelloMeteor
09-06-2012, 11:58 PM
Yup, what he said :)... I brought home another box of nickels from the bank last week. 75/25 cupro-nickel is already bought and sold at larger scrap yards and the day they're legal to melt (which may never come, but that's okay too as they'll still be worth a premium) I'll be ready. IMO hoarding nickels now is like saving dimes back in 1961. People would have considered you a crazy person for saving dimes back then, but ultimately that proved to be a wise decision. It's no different now IMO. Just because copper and nickel aren't precious doesn't make them any less valuable. I just wish I had more space so I could take a larger position as once you have a dozen or more boxes space becomes an issue.

A box is $200 right? To store $20,000 that's only 100 boxes. 10x10. That's not much space. Though in an apartment like where I am, on the 4th floor, I wouldn't be comfortable with that. I'd be worried that eventually the tenant below me would be $20,000 richer.

Savvy937
09-07-2012, 03:04 PM
For the 1st time in some time, nickel finished above 100% in terms of more base metal value than purchasing power. Granted, its only 100.06% but nonetheless, its nice to see it back on the upswing. Hope you all are still saving your nickels because I still am!

redraspberry
09-07-2012, 03:07 PM
Do any of you guys have penny or nickel slot machines to play with you stash?

97guns
09-08-2012, 10:36 AM
now that the pos is on the move again i will be adding to the nickel hoard

Atlas Shrugged
09-08-2012, 11:03 AM
now that the pos is on the move again i will be adding to the nickel hoard

Great idea. I went strong for a while, brick upon brick. But haven't stacked nickels in 3 or 4 months.

SteelandSilver
09-08-2012, 01:25 PM
The tellers don't know me at my bank. How many nickels do you have to ask for to get questions and dirty looks?

Savvy937
09-08-2012, 01:58 PM
The tellers don't know me at my bank. How many nickels do you have to ask for to get questions and dirty looks?
When I do it, I wear my work shirt in to the bank and say its needed to make small change. While it is true that I work at a place that does need to make small change, its all for me! Granted its only a few rolls at a time of both nickels and pennies, say $10 worth split evenly, but I don't do it all the time. Seeing how Gold and Silver shot way up, that will probably be my fix for a while until prices correct (hopefully). And I've never been questioned.

Now if you order a brick of nickels or pennies, then you might get those looks, but if you say you're looking for special coins as a hobby as to why you want so many, especially with the pennies, it should be understandable by the tellers. I know if I was one, I would understand, seeing how some of the people at my local credit union do the same thing, whether it be with silver coins, pennies or paper money.

maxwellsilverhammer
09-09-2012, 10:54 PM
now that the pos is on the move again i will be adding to the nickel hoard

decided to start searching through my boxes for buffaloes or silvers and then turn them all back into the bank. next time pos drops below 30 or the pog dorps to below 1600 i will convert the frns to bullion

doublelongdaddy
10-24-2012, 01:47 AM
Been stacking nickels since I heard that the US was going to pull the metals. It is just plain smart at this point to stack as many as possible. When the government starts buying back the coinage it is time to hoard as much as possible.

topgun11
10-24-2012, 11:37 AM
The tellers don't know me at my bank. How many nickels do you have to ask for to get questions and dirty looks?

The last time I was asked what I was going to do with a $25 box of pennies I told them that "I'm going to go to the wishing well and make all my dreams come true." They didn't have a follow up question after that.

SteelandSilver
11-05-2012, 04:35 PM
My car sucks in the snow and ice. The rear-end always fishtails whenever the roads are slippery. This winter I'm going to lay some bricks of nickels and a whole bunch of my copper pennies in the trunk for traction when the weather is bad. I believe it will help and it will be another way I can benefit from my nickels and copper pennies.

Bruce7Trader
11-05-2012, 08:32 PM
I just walk up to the counter and ask for a box ($100) of nickels. If they ask why, I say I am filling up my slot machine.

Very nice line!

THe last nickels i picked up at the Bank they gave me some very nice Bank bags the tellers thought is was great some idiot like me wanted nickels they were wonderful everyone had a great time as i loaded my bags of nickels all neatly rolled.

B7T

Savvy937
11-14-2012, 03:03 PM
I believe people, and maybe the banks also, are starting to catch on to copper pennies, because I got 4 rolls today from my local credit union, 0 coppers :mad:! I mean dang, figured I'd get at least 1, since I always have but 0 for 200? The only positive of the bank visit was 1 roll of nickels to add to the "stash", but other than that, feck all...

captainsilverton
11-14-2012, 05:40 PM
I believe people, and maybe the banks also, are starting to catch on to copper pennies, because I got 4 rolls today from my local credit union, 0 coppers :mad:! I mean dang, figured I'd get at least 1, since I always have but 0 for 200? The only positive of the bank visit was 1 roll of nickels to add to the "stash", but other than that, feck all...

we do well over 25 boxes of pennies weekly, at times more.
..
still pulling from our sorters, 20%-35%, here in Connecticut... a good true litmus test since it happens almost every Wednesday through Friday now for 2 plus years of sorting that amount...

it has been consistent the last couple years, not like a decade ago, but still avg over 25%..

wheats are only maybe 25-50 per 2500 box...

INCT

Metal Is Real
11-15-2012, 09:50 PM
I believe people, and maybe the banks also, are starting to catch on to copper pennies, because I got 4 rolls today from my local credit union, 0 coppers :mad:! I mean dang, figured I'd get at least 1, since I always have but 0 for 200? The only positive of the bank visit was 1 roll of nickels to add to the "stash", but other than that, feck all...

I never go to banks for rolls of pennies, just nickels. I'm afraid the bank would just give me back the rolls I already gave them after I mined them of the copper.

Grocery stores are your best bet. They get the penny rolls wrapped in clear plastic. I usually get a couple of rolls at a time and I've got rolls up to 95+% copper and even many wheat pennies.:)

bossandy
11-16-2012, 09:54 AM
One of my new ventures is taking friends (from work) coin jars home and taking the pennies and nickels out of them and giving them back the amount in cash. Some jars are 5 years old and are an untapped source of old coins. Been running across alot of wheat pennies lately. Just trying a different angle.

Bossandy

captainsilverton
11-21-2012, 04:36 PM
One of my new ventures is taking friends (from work) coin jars home and taking the pennies and nickels out of them and giving them back the amount in cash. Some jars are 5 years old and are an untapped source of old coins. Been running across alot of wheat pennies lately. Just trying a different angle.

Bossandy

every angle counts on gathering copper and nickel..the bank deal works very well for us...us hoarders of the simple metals have to keep it "inflowing"...agreed, bossandy...

INCT

SilverIsMoney
11-21-2012, 06:19 PM
Do you guys really see this as worth it money wise or do you just do it for fun?

I've been doing it for a few years now and I can't help but feel i'd be better served trading them in for cash and turning the cash into silver.

Really the only way this is more profitable is if SHTF and if that happens who in the world will be able to lug around hundreds of pounds of coins?

shel8483
11-21-2012, 07:19 PM
we do well over 25 boxes of pennies weekly, at times more.
..
still pulling from our sorters, 20%-35%, here in Connecticut... a good true litmus test since it happens almost every Wednesday through Friday now for 2 plus years of sorting that amount...

it has been consistent the last couple years, not like a decade ago, but still avg over 25%..

wheats are only maybe 25-50 per 2500 box...

INCT

what do you do with the clad pennies no bank around here will touch them. They have to pay for every box they send back. I was told 3 dollars a box for pennies. So it cost your bank 60 dollars to send your pennies back. Halves are 6 per box. plus employee time to put it together. All the banks here will not take them. If you save pennies for deposit. you can do that but not if they know you bought them there

1Ohdannyboy
11-21-2012, 08:19 PM
I know this is a dumb question but define what a "box" of coins is. Thanks

bossandy
11-22-2012, 07:28 AM
I know this is a dumb question but define what a "box" of coins is. Thanks

Ordered from your local bank:
box of pennies = $25.00 - 50 rolls
box of nickels = $100.00 - 50 rolls

Nickels sit as is and the pennies get sorted to find 1982 and older.

Bossandy

bossandy
11-22-2012, 07:29 AM
every angle counts on gathering copper and nickel..the bank deal works very well for us...us hoarders of the simple metals have to keep it "inflowing"...agreed, bossandy...

INCT


Agreed.

bossandy

1Ohdannyboy
11-22-2012, 07:33 PM
I know this is a dumb question but define what a "box" of coins is. Thanks

Ordered from your local bank:
box of pennies = $25.00 - 50 rolls
box of nickels = $100.00 - 50 rolls

Nickels sit as is and the pennies get sorted to find 1982 and older.

Bossandy

Thanks, Boss

fortydogroad
11-23-2012, 12:39 AM
I think it would be kind of fun to save the older copper pennies, but space is at a premium for me at this time. There may be some money to be made somewhere down the line, but storing a boxtruck load of pennies is not feasible for me at the moment.

I do see people selling lots of like $100 face on da Bay for a bit. Is that what you guys do, or do you just stack for the future?

namwalker
11-23-2012, 09:40 AM
If you are going to be sorting either pennies or nickels you do not want to return the coins to the same bank that you picked them up at. As has been pointed out it is expensive for the bank and if you do both ends of the transaction at the same bank it get expensive for them and they could tend to get upset with you.

I have an account at a bank that has a free coin counter. When it comes to cash in the rejects that's where I go. Some of the money gets deposited into my account there and the rest I get in cash for future purchases at another bank.

Some penny sorters have posted that they put their copper coins into 5 gallon buckets from either Home Depot or elsewhere. It may cut down on space but the bucket gets real heavy. $25 of copper pennies comes in at about 16#. 5 gallons of pennies is going to be much more than than.

Myself I store them in the same box I got them in as it solves some of the problem of how to get rid of the empty boxes.

SilverIsMoney
11-23-2012, 01:09 PM
Do you guys really see this as worth it money wise or do you just do it for fun?

I've been doing it for a few years now and I can't help but feel i'd be better served trading them in for cash and turning the cash into silver.

Really the only way this is more profitable is if SHTF and if that happens who in the world will be able to lug around hundreds of pounds of coins?

Anyone have an opinion on this?

Do you guys really expect this stuff to be worth holding on to? Right now I could turn in my pre82 pennies and nickels and probably get enough cash to buy 10OZ of silver.

Is there anyone that really sees my 350$ in pennies and nickels outpacing 10OZ of silver in the future?

GoldSilverbvg
11-23-2012, 02:21 PM
Anyone have an opinion on this?

Do you guys really expect this stuff to be worth holding on to? Right now I could turn in my pre82 pennies and nickels and probably get enough cash to buy 10OZ of silver.

Is there anyone that really sees my 350$ in pennies and nickels outpacing 10OZ of silver in the future?

Yes :D .

My opinion is that the silver would be a better investment than the Copper. At least where I am the Silver would be easier to liquidate and realize a profit on than the Copper, especially pre-82 US pennies. Furthermore, Silver seems to enter people's minds as being an item of value more frequently than Copper does. Silver also seems to have a safe haven demand as an inflation hedge that Copper does not seem to have, at least not that I am aware of.

However, I have a couple small Mason Jars full of pre-82 pennies and nickels just in case, but I do not invest heavily into it.

Just my $.02.

Metal Is Real
11-23-2012, 03:21 PM
Is there anyone that really sees my 350$ in pennies and nickels outpacing 10OZ of silver in the future?

I don't see copper EVER outpacing silver however I believe it will move more or less in tandem with silver and gold. I do believe that by the time I reach retirement age a copper penny will be easily worth a dime or more. Copper will always be worth more than paper or digits on a computer! I have less than $20 face value of copper pennies so far but I'm holding long!

You can always cash out your $350 in pennies and nickels and get the silver (maybe wait for a correction) and start a new copper and nickel stash. No matter what you do you will still come out ahead in the long run.:)

LaoTzu
11-27-2012, 08:28 AM
For nickel storage issue I have come to this:

Nickels were a "good buy" because they were an instant 5%. With current spot on nickel tho, it seems the mighty penny is our one and only circulating true money.

Nickel is down $1/lb from roughly 60 days ago and coinflation lists a nickels melt value at just under 5 cents.

So, if I were concerned about storage would I be better off taking my nickels and buying nickel futures, stock, or physical, waiting on the rise in spot? I could then sell and buy more nickels than I had for no cost or silver or whatever.

I feel that nickels, having more purchasing power than physical value at the moment, could be better employed than sittin in my hoard.

I am interested in what you all think of this. Am I over analyzing?

TwoHorses
11-27-2012, 11:52 PM
If the US starts taking them out of circulation next month, you might have a problem getting any after that.

Chump Change
11-28-2012, 03:17 AM
This whole US is pulling the pennies and nickels seems based on one report and everyone references it. Until I see some confirmation from another source I don't believe it.

Agreed.

One of the Czars stated he had a philosophy of creating conspiracies where none existed.

This story could be of that philosophy...

FelixWankel
11-28-2012, 05:43 PM
This whole US is pulling the pennies and nickels seems based on one report and everyone references it. Until I see some confirmation from another source I don't believe it.

Since Canada finally wised up and did away with their penny, I could easily see the USA doing the same thing. It just makes cents...I mean sense....haha. I have started collecting copper pennies here in the USA with the help of an electronic sorter. I only have about 2 of those costco candy jugs full of them so far (and a handful of wheaties), but just holding them makes me feel rich.......HAHA. Actually, I just got home from my bank where I put in an order for $300 worth of pennies. It kind of seemed like the guy was trying to discourage me as he said in a somewhat irritated tone "we can't have them until Tuesday". I said, "Tuesday would be great! It's my day off of work." The teller next to him mentioned that a customer comes in and orders dimes every week to look for silver.

atlas mike
12-04-2012, 09:18 PM
This whole US is pulling the pennies and nickels seems based on one report and everyone references it. Until I see some confirmation from another source I don't believe it.


Here's your answer:

http://www.coinworld.com/articles/demise-of-1-5-premature/

All the recent hype is "fake news." But...one day it will have to happen. My guess is, at the rate we're going, before Obama leaves office. Already happened in Canada.

So there it is .

FelixWankel
12-05-2012, 02:10 AM
So there it is .

Good news on them not doing away with the penny's too soon, I barely got my sorter and have lots of copper to collect! Picked up $300 worth of pennies today. They are much better than the last ones I had that were wrapped in paper. These are wrapped in clear plastic and I'm getting about 1/3 of box as copper!

atlas mike
12-05-2012, 10:07 AM
Good news on them not doing away with the penny's too soon, I barely got my sorter and have lots of copper to collect! Picked up $300 worth of pennies today. They are much better than the last ones I had that were wrapped in paper. These are wrapped in clear plastic and I'm getting about 1/3 of box as copper!

I hear ya. I have only just got started on my copper stacking. I feel that if it were true there would be a run on the copper cent and a bubble would form and pop quickly not giving me a chance to stack up. I want at least $200 face value of copper cents. but I will take more.

HelloMeteor
12-05-2012, 10:54 PM
Why does anyone waste time with pennies? Nickels require no sorting, except that silver still isn't that rare. I have found 5 silver nickels without in maybe $100 of nickels without trying. And nickel is more valuable than copper.

And pennies are too small. Even worth 20x face, that's only 20 cents. If a nickel were worth 20x face, that's an amount worth counting.

Maybe I'm being stupid. But nickels make way more sense. Buy a bunch, keep it all, and separate the silver. That seems much more efficient than pennies, where you have to search for the more rare copper, and return all the zinc.

LaoTzu
12-06-2012, 09:23 AM
I agree with your point HelloMeteor with sticking to nickels for the ease of stacking without sorting.

But the point of stacking copper pennies is this: returns. Where else can you find a return on your money of over 100%?

atlas mike
12-06-2012, 09:32 AM
I agree with your point HelloMeteor with sticking to nickels for the ease of stacking without sorting.

But the point of stacking copper pennies is this: returns. Where else can you find a return on your money of over 100%? thank you. and when they go to .03 or .05 per penny then the gains are even larger.
H

FelixWankel
12-06-2012, 09:07 PM
Why does anyone waste time with pennies? Nickels require no sorting, except that silver still isn't that rare. I have found 5 silver nickels without in maybe $100 of nickels without trying. And nickel is more valuable than copper.

And pennies are too small. Even worth 20x face, that's only 20 cents. If a nickel were worth 20x face, that's an amount worth counting.

Maybe I'm being stupid. But nickels make way more sense. Buy a bunch, keep it all, and separate the silver. That seems much more efficient than pennies, where you have to search for the more rare copper, and return all the zinc.

Because the melt value of a penny today is .02 (100 % increase of face value). Melt value of a nickel today is .05 ( no profit to be made at todays price).

I can easily sell $100 face of pennies for $150 TODAY (50% instant profit). Do you know how much I can sell $100 face of nickels for today............ wait for it............. wait for it....... $100 dollars. No profit to be made in nickels today. Yes I keep all my nickels that come to me as change (some day they will be worth something) but the money is in collecting copper pennies. I don't order boxes of nickels, only pennies. Maybe one day this will change but right now, my time is better spent sorting pennies.

From what I have seen, pennies will always bring you a much larger percentage return than nickels. If I remember correctly, when a copper penny was worth .03 melt value, a nickel was worth about .08 (barely more than 50%face.

That being said, I am not selling my pennies today, simply hoarding them as I'm sure in the not too distant future, they will return 300, 400, or 500%. If you want to seriously sort pennies though, you must buy an electronic sorter. It makes sorting a breeze.

HelloMeteor
12-12-2012, 01:21 AM
Yup, what he said :)... I brought home another box of nickels from the bank last week. 75/25 cupro-nickel is already bought and sold at larger scrap yards and the day they're legal to melt (which may never come, but that's okay too as they'll still be worth a premium) I'll be ready. IMO hoarding nickels now is like saving dimes back in 1961. People would have considered you a crazy person for saving dimes back then, but ultimately that proved to be a wise decision. It's no different now IMO. Just because copper and nickel aren't precious doesn't make them any less valuable. I just wish I had more space so I could take a larger position as once you have a dozen or more boxes space becomes an issue.

Except that a dime back that was more like a dollar or two today, and thus actually a significant amount of money.

The difference between today and 1965 is that the coins we're saving now have much less purchasing power than the coins they were saving then. If they saved a silver dime, the face value was still enough to buy what, a hamburger? Now, you'd need 20 or so nickels to buy a hamburger. So even if they retain their value during inflation or hyperinflation, you'd still need 20 of them to buy that hamburger. It's better than paper in that case, but it's nothing like saving silver coins. It's not like you'll ever be able to buy a gallon of milk with a nickle. It would probably be 40-80 nickels regardless of inflation, so long as there is not a huge nickel/copper bubble.

I don't think it's worth putting more than a couple thousand dollars at most into nickels or copper pennies. Otherwise the logistics would just get too extreme.