Coin hoarding billionaire

[Copper]

The big boys are now hoaring nickels
http://www.coinweek.com/bullion-report/ ... llionaire/

[scyther]

Old news, but still interesting. "I like nickels" lol.

[1945v]

It sounds like a good idea in theory, getting a risk free 20% return after paying face value for the nickels.
But think of all the storage, handling and security costs if you are holding onto them long term.
1 million dollars in nickels occupies 1000 cubic feet
Also who would buy them with a melt ban in effect ?

[wheeler_dealer]

When your net worth is a BILLION one million in cold hard cash(nickels) isn't much. We do it. Maybe he wants to be insured like us. Makes me think we might be on to something.

[cap]

This guy is awesome.

And with that much money getting them moved and storing them should be relatively easy.

[cesariojpn]

But think of all the storage, handling and security costs if you are holding onto them long term.
1 million dollars in nickels occupies 1000 cubic feet

Repack boxes into non-descript boxes, rent out storage locker(s), setup automatic payment plan, quietly load said boxes into locker(s), lock door. Cheap and easy, with free security and surveillance to boot. The best way to hide something is to do it in plain sight.

Also who would buy them with a melt ban in effect ?

see

It sounds like a good idea in theory, getting a risk free 20% return after paying face value for the nickels.

[scyther]

If I were a billionaire, I would already have a secure storage place, possible my home. I could afford a really good, effective security system. Then it wouldn't cost anything extra to fill it with nickels. It would already have plenty off gold, silver, platinum, rare coins, etc.

[Engineer]

If I were a billionaire, I would already have a secure storage place, possible my home. I could afford a really good, effective security system. Then it wouldn't cost anything extra to fill it with nickels. It would already have plenty off gold, silver, platinum, rare coins, etc.

If I had a billion dollars, I'd buy you a green dress...

http://www.youtube.com/watch?feature=player_detailpage&v=tajhs_FdT98#t=135s

[Gobirds66]

If I were a billionaire, I would already have a secure storage place, possible my home. I could afford a really good, effective security system. Then it wouldn't cost anything extra to fill it with nickels. It would already have plenty off gold, silver, platinum, rare coins, etc.

If I had a billion dollars, I'd buy you a green dress...

http://www.youtube.com/watch?feature=player_detailpage&v=tajhs_FdT98#t=135s

....But not a real green dress, that's cruel!

.....If I had a billion dollars, I would buy you a monkey. haven't you always wanted a Monkey?

[Verbane]

Repack boxes into non-descript boxes, rent out storage locker(s), setup automatic payment plan, quietly load said boxes into locker(s), lock door. Cheap and easy, with free security and surveillance to boot. The best way to hide something is to do it in plain sight.

The only flaw i see here is the load rating of the concrete slab. The slab under a storage unit likely isn't thicker than six inches.

[cesariojpn]

Repack boxes into non-descript boxes, rent out storage locker(s), setup automatic payment plan, quietly load said boxes into locker(s), lock door. Cheap and easy, with free security and surveillance to boot. The best way to hide something is to do it in plain sight.

The only flaw i see here is the load rating of the concrete slab. The slab under a storage unit likely isn't thicker than six inches.

Is that an industry standard?

[Engineer]

Repack boxes into non-descript boxes, rent out storage locker(s), setup automatic payment plan, quietly load said boxes into locker(s), lock door. Cheap and easy, with free security and surveillance to boot. The best way to hide something is to do it in plain sight.

The only flaw i see here is the load rating of the concrete slab. The slab under a storage unit likely isn't thicker than six inches.

Is that an industry standard?

A 6" floor is typical for industrial use. I'd expect many storage units to be built on 4" slabs.

[angel2004]

Yes, old news I know but a good article to enlighten those that haven't realized that nickels are our one true backed coin still in producton! They are worth saving.

[Verbane]

Repack boxes into non-descript boxes, rent out storage locker(s), setup automatic payment plan, quietly load said boxes into locker(s), lock door. Cheap and easy, with free security and surveillance to boot. The best way to hide something is to do it in plain sight.

The only flaw i see here is the load rating of the concrete slab. The slab under a storage unit likely isn't thicker than six inches.

Is that an industry standard?

Math is approximate. $1mil in nickels will weigh about 110 tons. In a 10 x 10 storage unit, thats ~1.1 tons per square foot. I don't know specifics, but I remember something about a max 1000 lb load per Square foot rating when my last garage floor was poured.

[LooseChange]

I like the math Verbane You have inspired me to take it one step further.

So your math assuming a 10' X 10' unit, 110 tons, it only comes out to about 15.7psi....everwhere.
If KB has that kind of money he could probably rent a larger unit, again with rough math:
10' X 15' ...10.19psi
15' X 30' ...3.40psi
30' X 30' ...1.69psi

But you would also have to leave enough room for a fork lift, pallet jack, or mule cart to move them if needed. Either way, 10 psi isn't much, how much does your car/truck weigh? Look at those small spots from your tires, that's what maybe 2sf? 6,000lb(3 Ton) vehicle, that's almost 21psi in your garage right now This many nicks is nothing really, you could just put them in your driveway and cover them with a tarp if you wanted

My concrete professor would probably shun me for not knowing this off the top of my head, but I think average concrete is like 3500 to 4500 psi mix and can support much more than meets the eye. This is for a standard slab on grade with adequate support underneath, not crap soil. IMHO, KB would be fine with a 10' X 10' sized concrete slab, reinforced properly, from solely a weight perspective. I'm not going to get into logistics, security, or transport of this much stuff, I just wanted to Weigh in on the Weight discussion.

[Engineer]

Math is approximate. $1mil in nickels will weigh about 110 tons. In a 10 x 10 storage unit, thats ~1.1 tons per square foot. I don't know specifics, but I remember something about a max 1000 lb load per Square foot rating when my last garage floor was poured.

This is a load of 15.27 psi, and most concrete will hold up to 4000 psi, but the point loads go WAY up when you put the nickels on a pallet jack.

The advice about going to a max load of 1000 pounds per square foot is good, because you're also depending on the soil underneath the concrete to support the weight. Unless your foundation is sitting on bedrock, loading it up to 1.1 tons per square foot could make your whole foundation sink into the dirt.

[FatherRosado]

The big boys are now hoaring nickels
http://www.coinweek.com/bullion-report/ ... llionaire/

cool. I dumped my small nickel hoard as soon as the value went under face value.

[wagsthadog]

Hi all-

Psh, If I had a few spare weekends I'd sort through that million, and averaging 1 WN per box, net another cool $10-14K in instant profit!

To say nothing of Buffalos and Liberties lurking about- the rich get richer!

Bigger is Better!!!

wags

[scyther]

Hi all-

Psh, If I had a few spare weekends I'd sort through that million, and averaging 1 WN per box, net another cool $10-14K in instant profit!

To say nothing of Buffalos and Liberties lurking about- the rich get richer!

Bigger is Better!!!

wags

In 500 boxes, you might even find a shield nickel!