Nickel Sourcing

[slvrbck]

Just an open discussion of ability to obtain nickels at this point. I suspect the end may be near. I’m off work tomorrow and plan on spending some time attempting to add to my hoard from local banks and credit unions.

[shinnosuke]

I may run out and see what's available. Would appreciate everyone who does likewise to discuss their successes. Good idea for a thread.

[Slaphot]

I'll run out at lunch tomorrow and let you know. I've been getting some pushback ever since the "coin shortage" if I ask for boxes, so I usually only ask for $10-$20 in Nickels and/or cents.... And oh by the way do you have any halves?

[Cu Penny Hoarder]

Just an open discussion of ability to obtain nickels at this point. I suspect the end may be near. I’m off work tomorrow and plan on spending some time attempting to add to my hoard from local banks and credit unions.

I'm also thinking the same thing. I was imploring you gents here last year to get as much as possible back then. Getting to be slim pickins out there. Others will eventually learn what nickels are worth, then you'll be competing against them too.

Unless you have some special arrangement or know someone, I'd forget about big banks. From what I'm hearing, they're being very stingy with the coins they have, only giving ppl a few rolls at a time. If you are driving around the area to get only a few rolls from each bank, that's not very cost effective (gas).

In my experience credit unions seem to be a bit more accomodating, however I'm starting to notice some resistance from them recently. I think one of the main keys to success in procuring coin is not to be greedy and ask for too many boxes at one time. Paying a fee for each box makes it a lot easier. For me, a few boxes from each branch only once a month seems to encounter the least resistance. Don't be surprised if the order comes down from the top preventing ALL coins from being given to anyone without a business account. Eventually it will be no coins at all. I hope that is many years away.

[Silver4face]

Just an open discussion of ability to obtain nickels at this point. I suspect the end may be near. I’m off work tomorrow and plan on spending some time attempting to add to my hoard from local banks and credit unions.

I agree with you; the window is closing as we speak. Pennies and nickels will be the first casualty. Dimes and quarters have potential to stick around long term, but pennies and nickels are going to be an endangered species!!!!!!

[Slaphot]

I stopped by a branch of mine that I have never been to before. They happily gave me $100 in Nickels as they are closing the branch and wanted to get rid of them. The teller said "everyone hates nickels." - Not for long, HAHA.

[Cu Penny Hoarder]

I stopped by a branch of mine that I have never been to before. They happily gave me $100 in Nickels as they are closing the branch and wanted to get rid of them. The teller said "everyone hates nickels." - Not for long, HAHA.

Nice! Whatever you do, keep your mouth zipped. I never divulge to any bank teller what I'm doing. Lie if they ask you.

[Recyclersteve]

Personally I prefer halves and pennies. It seems like people want to get nickels for face value, but not pay a premium over face for them.

[Cu Penny Hoarder]

Personally I prefer halves and pennies. It seems like people want to get nickels for face value, but not pay a premium over face for them.

As long as I can keep getting them, I'm quite happy to pay a $7 premium per box.

[Morsecode]

Nickel buying has come to a full stop at my otherwise cooperative branch. They have had their own supply all but cut off...my source says they're getting an extra allotment of 1 cent to cover the short term squeeze. They even had little signs at the teller windows asking customers to bring in nickel stashes (actually, it said "any coins" - with an added plea for nickels)

I think I mentioned once that back in the early 80's there was a penny shortage here (and elsewhere?) that led some banks to offer up to a 10% bounty on Lincolns. And I think everyone who brought in more than $20 worth got entered into a drawing for a free safe deposit box for a year, or something like that.

[Cu Penny Hoarder]

Nickel buying has come to a full stop at my otherwise cooperative branch. They have had their own supply all but cut off...my source says they're getting an extra allotment of 1 cent to cover the short term squeeze. They even had little signs at the teller windows asking customers to bring in nickel stashes (actually, it said "any coins" - with an added plea for nickels)

The nickel window could be closing faster than we thought. I just sent an email to my contacts at 2 branches with another request for 1 box each. Don't want to be greedy.

When the LME opens back up this week, the Ni price could stay elevated for a while, or get smashed back down quickly. Hard to predict. Whatever happens, good luck to all of you.