Lucy is Right: Insurance Should Be a Nickel

[TwoAndAHalfCents]

I ran across this article today and I thought I would share it. The YouTube clip in the article with Lucy and her nickels sure made my laugh. The real message of the article about inflation and a return to the gold standard is a pretty interesting read too.

Boy what a sound. How I love hearing that old money clank. That beautiful sound of cold, hard cash. That beautiful, beautiful sound, nickels, nickels, nickels. That beautiful sound of clinking nickels.

http://mises.org/daily/6425/Lucy-is-Right-Insurance-Should-Be-a-Nickel

[ZenOps]

I'd say for most of 1866 to 2000, the US nickel would have been considered a good safety net.

Post-2000 though, its more of a false sense of security. Even if a nickel quadrupled in spot value per capita - each person in the US would still only have $32 worth of intrinsic value ($8 worth of face value nickels) of which to buy things like oil.

But on an individual basis (as a hoarder) there is really no comparison to the nickel. Protects against inflation and deflation, bank holidays, electronic transfer interruptions, and yes - is a small amount of insurance against outright monetary collapse of the electronic and paper dollar. And I say small, because noone can technically sell a house and get $200,000 worth of nickels (except Adam Young and Kyle Bass) within a reasonable timeframe.

Will there ever be a quote "Should I go into debt to buy nickels?" I'm betting I will hear it within my lifetime.

Its amazing how much confidence 2 Billion nickels can instill.

[angel2004]

Nickels are the coin to keep (of course aside from silver and copper coins!)

[scyther]

Nickels are the coin to keep (of course aside from silver and copper coins!)

Just no copper halves. They go back to the bank.

[angel2004]

I meant the pre1982 pennies, sorry for not saying it!

[AGgressive Metal]

I think copper pennies and silver will have a better ROI than nickels but you can't really go wrong with them so I guess that's the beauty of it.