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Nickels or Pennies?
Posted:
Wed Aug 31, 2011 10:01 am
by njoElec
Hey everyone.
I would like different opinions on saving copper pennies and nickels.
Which one would be better to stack? Lately I've been buying nickels in small amounts from various banks. A lot of banks don't care if you ask for a small amount (like $10-20) compared to a big box of $100.
But here is a trick question - would it be better to invest in silver compared to copper?
Re: Nickels or Pennies?
Posted:
Wed Aug 31, 2011 10:19 am
by balz
Hi!
I think if you live in the U.S. nickels can be a good option if you don't have time to sort. You just buy the boxes and store them.
About silver... I will buy some myself; I think it is a good option. In the future, 1/10 oz silver might be our today's 100$ bill while copper pennies might be our 1$ bill!
Re: Nickels or Pennies?
Posted:
Wed Aug 31, 2011 2:01 pm
by SoFa
I think it's best to wait to hoard nickels on a large scale. It's not like they are going to change the composition tomorrow.
Re: Nickels or Pennies?
Posted:
Wed Aug 31, 2011 2:12 pm
by NHsorter
SoFa, It might be wise to at least get a start on stacking nickles. Once they announce a composition change, it might not take long before it gets really hard to acquire them. There would probably be a lot of people jumping in the game once it is announced because the melt is already above face. I think banks would start telling people to hit the road if they had a steady stream of people coming in asking for nickles. Maybe I am wrong, but I have a feeling that there is not going to be much of a window once it's officially announced.
Re: Nickels or Pennies?
Posted:
Wed Aug 31, 2011 6:35 pm
by njoElec
NHSorter -
I definitely agree with you. My minimum goal is to have 5 boxes of Nickels and a 5 gallon bucket of copper cents. Once I get the bucket goal completed, I'll focus solely on nickels. Right now I'm going through cents as much as I can and it works out perfectly since I don't have classes holding me down as hard this semester which gives me more free time to sort pennies. I prefer to sort by hand anyways