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adagirl wrote:I agree. It could happen, but it will happen over the course of time. Nickels will not suddenly evaporate like the Newsweek article implies when it states "underlying the anxiety is a stark statistic...." I recommend that the RC hoarders just buy and hoard what you can using a disciplined approach. I buy one brick of nickels per week.

So, what are you doing with these bricks? Do you tear 'em open to sort for good stuff then re-roll?

I bought a few thinking it would give me a break from sorting, but after a couple days I just couldn't stand it anymore...I was sure there'd be a 3 legged buffalo in there somewhere

John_doe wrote:I should really start saving more nickels than I do. Problem is I like to spend all my $ on copper cents.

I hear ya on that. Try to put aside a small amount each week. Perhaps you might just start with pocket change like I did. Now I am up to one brick per week, but I had to start small to change my thinking so I could ultimately diversify my metal portfolio.

adagirl wrote:

John_doe wrote:I should really start saving more nickels than I do. Problem is I like to spend all my $ on copper cents.

I hear ya on that. Try to put aside a small amount each week. Perhaps you might just start with pocket change like I did. Now I am up to one brick per week, but I had to start small to change my thinking so I could ultimately diversify my metal portfolio.

That's actually what I just started doing. I buy bricks to look for wartime nickels, and I've started to keep everything minted before 1970 from those as well.

I might get somewhere with that.

John_doe wrote:

adagirl wrote:

John_doe wrote:I should really start saving more nickels than I do. Problem is I like to spend all my $ on copper cents.

I hear ya on that. Try to put aside a small amount each week. Perhaps you might just start with pocket change like I did. Now I am up to one brick per week, but I had to start small to change my thinking so I could ultimately diversify my metal portfolio.

That's actually what I just started doing. I buy bricks to look for wartime nickels, and I've started to keep everything minted before 1970 from those as well.

I might get somewhere with that.

Excellent man! Persistence is really the key. Pick a strategy and stick to it. I like your strategy. Right now I am so busy with my 2 year old daughter and wife and work that I don't even open the nickel bricks...they just get stored. I do sort my pennies however because I have a Ryedale, and I find great stress relief in this.

I've been dumping my zincs, and any amount over a $20 increment I deposit into a savings, and every time it hits 100 (just happened again today) I withdraw a box of nickels.

avidbrandy wrote:I've been dumping my zincs, and any amount over a $20 increment I deposit into a savings, and every time it hits 100 (just happened again today) I withdraw a box of nickels.

awesome! excellent way to maximize the return on your investment. first sorts for copper and perhaps error coins, then dump the zinc, collect a few more pennies of interest and then log out with a brick of nickels. stay the course

I think I have a few peoples $34 worth.

hejira11 wrote:I think I have a few peoples $34 worth.

Just think of it as three more people for every brick. This week's brick resulted in two more people's buffaloes.

John_doe wrote:I should really start saving more nickels than I do. Problem is I like to spend all my $ on copper cents.

Where do you have your emergency funds stored? You do have some emergency funds set aside, don't you

Average bank savings account is paying 1% APR right now. $1000.00 set aside in US Nickels would only lose $10.00 in interest PER YEAR, but offers a hedge of $1000.00 in US Nickels. They are easily spent if truly needed, but at 22 lbs per $100, you wouldn't grab a box to pick up a movie and a pizza.

creshka46 wrote:Nickel Mintage 1938-2010: 52.9 bil (wikipedia)
Current US Pop: 311 mil

52900/31.1= 1700 nickels = $85/person

$34 seems about right then. But I agree, it's a meaningless statistic.

52.9 billion divided by 311 million equals about 170 nickels or $8.50 per person
I've read there are only $4 per person available.

Verbane wrote:

John_doe wrote:I should really start saving more nickels than I do. Problem is I like to spend all my $ on copper cents.

Where do you have your emergency funds stored? You do have some emergency funds set aside, don't you

Average bank savings account is paying 1% APR right now. $1000.00 set aside in US Nickels would only lose $10.00 in interest PER YEAR, but offers a hedge of $1000.00 in US Nickels. They are easily spent if truly needed, but at 22 lbs per $100, you wouldn't grab a box to pick up a movie and a pizza.

Let's not forget that nickel and copper are a store of value, they are tangible money unlike FRN's. In addition a nickel currently has a melt value of6.7 cents. As far as I am concerned, the banks and the fed can keep their lousy 1% and I will keep my metal.

cupronickel wrote:

creshka46 wrote:Nickel Mintage 1938-2010: 52.9 bil (wikipedia)
Current US Pop: 311 mil

52900/31.1= 1700 nickels = $85/person

$34 seems about right then. But I agree, it's a meaningless statistic.

52.9 billion divided by 311 million equals about 170 nickels or $8.50 per person
I've read there are only $4 per person available.

That's even better #'s for those of us hoarding

Think I may ask my bank to set aside a box of nickels a week for me, thanks for the encouragement...

excellent! slow and steady wins the race.

Everytime I bring a box home I have this thought that my kids will bringing bringing the very same box back to the bank in 50 years or so wondering what the heck I was thinking.
Still I continue to pick them up as often as I can...

This thread is a great example of why "average is terrible".

Nearly every person here has a FAR above average hoard. And you know what? That's smart.

The "average" people out there will end up with less or none, mostly "none".

Don't be average.

barrytrot wrote:This thread is a great example of why "average is terrible".

Nearly every person here has a FAR above average hoard. And you know what? That's smart.

The "average" people out there will end up with less or none, mostly "none".

Don't be average.

Without question you are right! This group is easily 3 to 4 standard deviations above the mean. On an IQ test that would put us all at the genius level.

Keep hoarding, don't worry what others think. Worst case scenario is a nickel is still worth a nickel.

Gipper1985 wrote:Everytime I bring a box home I have this thought that my kids will bringing bringing the very same box back to the bank in 50 years or so wondering what the heck I was thinking.
Still I continue to pick them up as often as I can...

Teach your children well.

Does anyone know of any other example of a coins melt value exceeding it's face value, while it is still being produced ? I I know that the Silver Eagle says one dollar face, but that doesn't count since you can't buy it for a dollar.

adagirl wrote: Let's not forget that nickel and copper are a store of value, they are tangible money unlike FRN's. In addition a nickel currently has a melt value of6.7 cents. As far as I am concerned, the banks and the fed can keep their lousy 1% and I will keep my metal.

1% APR on savings and an official inflation rate of around 5% for a 4% loss?

And then consider somewhere between 10% and 20% actual inflation?

No, I don't think I'll be keeping much money in the bank.

When the mint was deciding to switch the metal content back in the early 80s, copper, was roughly 25-33% of its current price. Hardly much of a hoarding incentive in the context of sky-high interest rates and the end of the 1970s ills.

The $34 per person stat is actually good news, in my view. It just shows how scarce this form of bullion is when it is usually assumed there is tons to go around. Scarcity will work in our favor when the metal is worth several multiples of the face and demand goes up by one or two orders of magnitude from where it is now. There's only a bit over $2 billion of Nickels circulating (possibly a bit less), which is practically infinitesimal.

avidbrandy wrote:I'm curious, because though this happened with silver, for obvious reasons it didn't happen with copper because it wasn't worth most people's time to sort it out. What was the melt value of a copper penny back in 1982 though?

who knows, but gas was under $0.75 a gallon, and the purchasing power of the dollar was phenomonal, not like today. A lot less of us would be hoarding copper and nickel if we had a really, really strong dollar. Copper would be like $0.60/lb., nickel probably $1.00/lb., 12 ounce Coca-cola probably $0.10,,,:-)

Silver hoarding back in the 1960-70 era wasn't really as profitable as one might otherwise think.

Sure the price of silver skyrocketed, but the interest rates that they were giving at the time (18%) for simply parking your excess dollars in the bank offset much of the gains.

Nowadays with the official bank rates at 0.00 to 0.25 guaranteed for a few years at least and active quantitative easing - it makes ridiculous amount of cents to invest in copper and nickel. Might not be long before people start hoarding zinc (we started using steel to replace zinc pennies here in Canada a while ago)

ZenOps wrote:Might not be long before people start hoarding zinc (we started using steel to replace zinc pennies here in Canada a while ago)

I've thought the same, so I keep Cu as well as particularly nice dirt/grime/stain-free zincs. Not many.. maybe an average of $2 out of every $100. Just enough to have a small start

I know I'm sounding like a broken record at this point but I still don't understand the math nickel hoarders are using...I guess I'm just crazy

Looking at coinflation: http://www.coinflation.com/coins/baseme ... lator.html

$10.00 face of 95% copper pennies = Total melt value is $25.93.

$10.00 face of nickels = Total melt value is $11.87.

So do you want to tie your money up for $1.87 or $15.93?

The value of the nickel is in its copper content not the nickel value....UGH!!!!!!

Sure you might find a war nickel or buffalo... but you will find probably twice as many more wheat pennies.

To each his own, but I still don't understand way.....