Real cent corners the market

[slvrbck]

How many nickels do you think each of us would have to buy over the next month to secure a composition change in the nickel early next year? Just curious if it could be possible. Illegal?

[AGgressive Metal]

I think someone calculated the number of pre-82 pennies out there and we are barely making a dent - we maybe(?) have about 1% when you count major holders like Portland Mint. With the higher FV of the nickel it would be extremely hard for a forum this size to have any real impact, imo.

[TXBullion]

As cool as it would be, it might only be a drop in the bucket for US nickel stacks. Especially if these guys who sort nickels keep dumping all their coin for new coin!

[misteroman]

on a similar note,A buddy and myself were going to try and corner the 55-d qtr market over a period of yrs. of course I'd be melting all mine now. But I don't think We as a whole could affect the market unless we all started selling everything we owned and just bought nickels

[JadeDragon]

We could not even keep up to the new nickels being produced.

[Roadrunner]

We have a visible percentage of the copper penny market I'm pretty sure...

We have about 500 Members, if they each have $1500 face value, that's 75 million pennies, which is a small percentage of the coppers made (I don't know the exact amount made between 59-82).

[TXBullion]

We have a visible percentage of the copper penny market I'm pretty sure...

We have about 500 Members, if they each have $1500 face value, that's 75 million pennies, which is a small percentage of the coppers made (I don't know the exact amount made between 59-82).

I dont remember what the numbers were but someone added up how much tonnage is in circulation and how much tonnage we might have and it is not a dent. I think 1500 is a way over estimate. We have some big time guys here but 1500 average is still too much I think. Even if you factor in the portland mint, I dont think we are doing anything to the copper penny supply (well an insignificant amount).

Unless the theory that the guys in California get low percentages because Hoard has them all is true

[highroller4321]

http://mintnewsblog.blogspot.com/2010/1 ... -2010.html

The mint has made 414.24 million nickels just this year alone. No way we could touch the market even if we each had $100k. $100k in nickels and 1500 members is 3 billion nickels. That gets us from 2010 to half of 2001.

[Roadrunner]

We have a visible percentage of the copper penny market I'm pretty sure...

We have about 500 Members, if they each have $1500 face value, that's 75 million pennies, which is a small percentage of the coppers made (I don't know the exact amount made between 59-82).

I dont remember what the numbers were but someone added up how much tonnage is in circulation and how much tonnage we might have and it is not a dent. I think 1500 is a way over estimate. We have some big time guys here but 1500 average is still too much I think. Even if you factor in the portland mint, I dont think we are doing anything to the copper penny supply (well an insignificant amount).

Unless the theory that the guys in California get low percentages because Hoard has them all is true

I don't think $1500 is way over...but maybe slightly over...the thing about coppers is that they aren't making them anymore (unlike nickels) so everyday we're gaining ground.