Re: Circulating Nickel Depletion
Posted: Mon Feb 28, 2011 5:01 pm
I agree with the OP's premise. I have been directing most of my metal collection toward copper pennies, due to their superior face value/melt value ratio. And I had always thought that nickels could be accrued more leisurely, because they would always be there for the taking. But I have now come to think that the nickel supply could dry up pretty quickly, because banks would quickly cut off the spigot once they had enough people coming in and asking for nickels. I also think that the government might 'recall' all of the nickels of the current composition, while simultaneously issuing a new, debased coin. The Canadian government is already actively engaged in the reclamation of their older nickels that are almost pure nickel. So bottom line is that I have begun to ask for a few rolls of nickels each time I go to the bank for pennies. It's better to be early to the party than late!