2024 Nickels

[slvrbck]

Something big is going on. . .

[coindood]

Care to elaborate?

[slvrbck]

May have jumped the gun on this one but I heard the mint has discontinued production of 2024 nickels at a very low mintage number. Checking sold auctions on eBay shows them selling for very high prices recently. Wondering if this could be what the end of the nickel as we know it could look like.

[Recyclersteve]

I went online and found that YTD production of nickels is:

36M plus coins from Philadelphia
29M plus coins from Denver

There is NO REASON WHATSOEVER (IMHO) to hoard 2024 nickels unless you know of an error of some kind.

The website with the data is coinnews.net.

[TXSTARFIRE]

I know they are out there but I have yet to see a 2024 coin of any denomination. Anyone in the upper midwest area seeing new coin?

[galenrog]

I know they are out there but I have yet to see a 2024 coin of any denomination. Anyone in the upper midwest area seeing new coin?

Probably because you don’t get out enough. I started getting full 2024 boxes in March. Everything but dollars.

Time for more coffee.

[Silver4face]

I know they are out there but I have yet to see a 2024 coin of any denomination. Anyone in the upper midwest area seeing new coin?

Probably because you don’t get out enough. I started getting full 2024 boxes in March. Everything but dollars.

Time for more coffee.

What are you doing with those full 2024 boxes? Checking for errors?

[galenrog]

I check every coin for signs of die issues. Cracks, breaks, chips. It does not matter. A 2024 half with a die chip is worth, this year, $3-$5 to many collectors. An astute youngster near my previous home sent images showing an almost imperceptible chip on the left wing of a 2024D. The 1996P and 1998P halves with the die crack from neck to rim are still worth a buck or two, regardless of how common they are (6 more this weekend from a box that showed only 2023 on ends).

So far, 2024 coins have had few keepers. Two quarters had nose pimples, six cents had minor reverse die chips. Nothing on Nicks, Dimes, or Halves. I have received emails from members of a few blogs saying there are Nicks with doubling. Seen no evidence so far.

[thecrazyone]

I haven't seen any 24 coins at all, yet!

[Silver4face]

I have seen a bunch of 2024 pennies , but no other denominations.

[coindood]

There is NO REASON WHATSOEVER (IMHO) to hoard 2024 nickels unless you know of an error of some kind.

Check out these recent eBay sold prices:

5 bank wrapped rolls ($10 face) sold for:

$559.00 - https://www.ebay.com/itm/116235104132


10 bank wrapped rolls ($20 face) sold for:

$695.99 - https://www.ebay.com/itm/116215164764

$996.25 - https://www.ebay.com/itm/116223936263


25 bank wrapped rolls ($50 face) sold for:

$1075.00 - https://www.ebay.com/itm/387169353391


50 bank wrapped rolls ($100 face) sold for:

$2778.00 - https://www.ebay.com/itm/116215169283


I could see demand like this maybe in Feb or March, but these were all within the last month.

If you have a good connection at a bank, make a call.

[TXSTARFIRE]

Is there going to be a low mintage? Why would people pay that kind of money?

[cwgii]

May be why some of us have not seen 2024 coins

[Morsecode]

50 bank wrapped rolls ($100 face) sold for:

$2778.00 - https://www.ebay.com/itm/116215169283

Bitcoin millionaires high on meth, most likely.

(not that there's anything wrong with that)

[Recyclersteve]

I'm gonna speculate without taking a lot of time to dig deeply for more info. I've seen cases where two people or a small group of friends get together to try and manipulate (yes, I used that word) price up artificially. Please bear with me as I use a mythical example from the stock market.

Let's say that XYZ stock is trading for $1 a share. Five good friends decide they can manipulate the stock from $1 a share to $10 a share even with no real news whatsoever. They agree to buy shares at elevated prices up to $10 a share, even though they should know this is only a stock really worth around $1.

Now they are definitely playing a dangerous game and one where they could end up paying $10 for a stock that is only worth perhaps $1.50 to $2 a few days later. But the game they are playing is that they realize people will see no news and say "Hey, they're buying that stock for no known reason because I can't see any news. And the volume is going up a lot. This normally trades 50,000 shares a day and the past few days it has traded several million shares EACH day. So something MUST BE going on." And they end up buying. Well, they are likely being played. Often times the company will be one they'd never heard of before and perhaps they don't even understand what the company does, how they could possibly be that special vs. competitors, etc.

I will admit that I have found plenty of these and sold them short. In other words, I see a stock trading for, say, $12 and it was $3 a week ago with no news to justify the quadrupling. If I'm really convinced there is nothing really special behind this, I will sell shares that I don't own in my account at, say, $10 a share (I want to see the stock start to come down before betting that it will go down further). If I shorted 500 shares of XYZ stock, my account would show that I own -500 shares (not 500 shares). Then, let's say I buy back the stock a week later at perhaps $4 a share, I've made a profit of $3,000. I sold (short) at $10 and bought back at $4, so $6 profit per share. That times 500 shares is a profit of $3,000 minus any potential commissions or fees which should be generally nonexistent or very close.

Keep in mind that if this is a legitimate company and it goes to $20, then I'm losing $10 a share or $5,000 total. So you have to dig deep on these opportunities to separate the good from the bad.

Now I gave a stock example, but I think the same basic thing can work with coins on eBay, especially when they are newly discovered and just minor things like most die cracks, etc.

There are definitely exceptions like the Wisconsin extra leaf quarters (leaf up and leaf down varieties). Even though they were manufactured by a rogue employee, those were pretty cool errors I have to admit.

That's all for now.

[shinnosuke]

50 bank wrapped rolls ($100 face) sold for:

$2778.00 - https://www.ebay.com/itm/116215169283

Bitcoin millionaires high on meth, most likely.

(not that there's anything wrong with that)

Hmmm, I've never tried meth but that documentary called Breaking Bad only showed stacks and stacks of paper money not nickels. I believe I'll pass...on both the meth and more nickel accumulation.

[coindood]

I'm gonna speculate without taking a lot of time to dig deeply for more info.

Sounds like a typical eBay buyer.

[Recyclersteve]

I'm gonna speculate without taking a lot of time to dig deeply for more info.

Sounds like a typical eBay buyer.

Good comeback!