To get rid of Cupro-Nickels or not, that is the question!

[Metaldog]

As a Canadian nickel sorter, I have accumulated approximately 50lbs of cupro-nickels durring my searches for 999 nickels. Now I'm debating whether or not it's worth keeping. Does anyone have any opinions on this matter as to what I should do with them?

[Tommybee]

Dog - Unless you need the money, hang on to them. They are worth .07 a piece and most likely copper and nickel prices will continue to rise. I have 20 boxes (2k) worth and I'm just going to sit on them. The only real downside is opportunity cost. That is I could be investing that 2k into something else right now and making money. Like the market or, silver, etc.

[didou]

They may become more rare as the allow recovery program melt them all, but i have no idea if they will get a good premium or not.
I dump them all and buy more nickels to sort.

[Metaldog]

Good points. I'm thinking of cashing them in and reinvesting the money back into precious metals. Personally I think I can put that money to better use. On the other hand, if I just wanted to back my money by something then CuNickels seem like a good choice.

Anyone wanna buy them off me?

[Pennybug]

Sure! I'll give ya 3 cents a piece for them!

Seriously, I'm not saving them... yet. But I think the time will come. Probably sooner than later too. There have been some good comments on this in other threads. Look around at some older ones on this site.

[rickygee]

I cashed in half of my US nickel hoard at face and bought some Philharmonics and some 90% junk. BTW, silver dumped two days later, but that's beside the point. When all that heavy metal leaves your possession you really feel like your losing something. Sure you get a little silver or even less gold, but it's different than those pounds metal.

[frugalcanuck]

I have a few hundred saved up as CuNi but Im not saving anymore. They are going back to the bank. I found if you sort alot then CuNi will just tie up too much money that could be converted to .999Ni. It also depends on your financial situation. I have less money to play with after I bought a new car so I decided to put my money to better uses... Such as .999 Ni. I do believe they will be rare in a few years. Thats why I am keeping what I allready have.

[68Camaro]

Since you have the relatively easy ability to get .999, that makes great sense for you all in the north. We're jealous of you (though happy for you!). But that not being an easy option for me, I have a fixed stash of US CuNi 5 cents in the background as reserve. But I've good with what I've got, until they declare they will stop CuNi (at that point I may go buy more boxes.) Until then, I won't be adding more to it, except whatever loose change I pick up.

[Metaldog]

I have a few hundred saved up as CuNi but Im not saving anymore. They are going back to the bank. I found if you sort alot then CuNi will just tie up too much money that could be converted to .999Ni. It also depends on your financial situation. I have less money to play with after I bought a new car so I decided to put my money to better uses... Such as .999 Ni. I do believe they will be rare in a few years. Thats why I am keeping what I allready have.

Very true. It's good to diversify a little and if you have the ability to make even more money than even better! I'm taking mine to the bank today. I'm surprisingly sad about having to taking them back. But it's gotta be done!

Yay more nickel sorting!

[CrazyTom]

Diversity in nature is what helps species survive. I'm taking the same approach, keeping nickles, copper pennies, 90% silver, gold, war nickels, silver eagles. Any one of them will probably make up for a loss in another. It's too hard to catch waves at their exact highs and lows. Like the "eggs in one basket" thing, I'm building them all up at the same time to hedge my bets.