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Stock up on Nickels! - 2/13/2012 9:27:53 PM

provfivetine

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Joined: 2/17/2011
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quote:

Department of the Treasury:

The Budget proposes to provide the Mint with greater flexibility in the material composition of coins to reduce its losses on some coins and the production costs associated with volatile metal prices.

Free Advice:

Trade in your paper money for nickels. Why? Currently, nickels are made of 75% Copper and 25% Nickel (currently worth 5.7 cents each). However, the US mint is recognizing this obvious problem: that the cost of minting nickels exceeds the face-value. Obama's new budget (unveiled today) wants to tackle this predicament. Consequentially, there will be a new metallic formula for nickels, perhaps as soon as this next budget is passed.

What is the point of me posting this? Because the dime and quarter went through a similar transformation a while back. A dime from 1946-1964 is now worth $2.44 and a quarter from 1932-1964 is now worth $6.09. Nickels will enjoy a similar increase in percentage, perhaps even greater, thanks to Helicopter Ben's monetary policy (he's printing so much money that it is starting to affect the cost of printing (coining) money! IRONY ALERT!).

This is pretty much a win-win situation: if I'm right then you could gain over 2000% and your nickels could be worth well over $1 each; if I'm completely wrong then you can cash your nickels back in for face-value. You heard it here first!

Post #: 1

RE: Stock up on Nickels! - 2/13/2012 10:44:36 PM

SternSkipper

Posts: 7546
Joined: 3/7/2004
Status: offline

quote:

This is pretty much a win-win situation: if I'm right then you could gain over 2000% and your nickels could be worth well over $1 each; if I'm completely wrong then you can cash your nickels back in for face-value. You heard it here first!

What do you figure the period of time one will have to hold the nickels before they leap 2k% though? If it's on the same time table as dimes... that makes it a little weird as an 'investment'.

_____________________________

Looking forward to The Dead Singing The National Anthem At The World Series.

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Post #: 2

RE: Stock up on Nickels! - 2/14/2012 12:25:46 AM

joether

Posts: 5195
Joined: 7/24/2005
Status: offline

quote:

ORIGINAL: provfivetine

quote:

Department of the Treasury:
The Budget proposes to provide the Mint with greater flexibility in the material composition of coins to reduce its losses on some coins and the production costs associated with volatile metal prices.

Free Advice:

Trade in your paper money for nickels. Why? Currently, nickels are made of 75% Copper and 25% Nickel (currently worth 5.7 cents each). However, the US mint is recognizing this obvious problem: that the cost of minting nickels exceeds the face-value. Obama's new budget (unveiled today) wants to tackle this predicament. Consequentially, there will be a new metallic formula for nickels, perhaps as soon as this next budget is passed.

What is the point of me posting this? Because the dime and quarter went through a similar transformation a while back. A dime from 1946-1964 is now worth $2.44 and a quarter from 1932-1964 is now worth $6.09. Nickels will enjoy a similar increase in percentage, perhaps even greater, thanks to Helicopter Ben's monetary policy (he's printing so much money that it is starting to affect the cost of printing (coining) money! IRONY ALERT!).

This is pretty much a win-win situation: if I'm right then you could gain over 2000% and your nickels could be worth well over $1 each; if I'm completely wrong then you can cash your nickels back in for face-value. You heard it here first!

I see you went to the 'Glenn Beck School of Economics'.....

A dime dated 1946 is worth that value to a COLLECTOR (provided its in mint condition). Collectors are alittle different from most people; they are willing to pay more for only things believing it is either A) Worth collecting or B) Worth more later (i.e. an investment). So unless your able to find a collector willing to pay over two dollars for something worth a mere ten cents, your S.O.L. The flip side to this, is to melt down the coins to there basic metals. Of course you would need some decent chemistry skills, not to mention selling the metals to someone in the market for the metals. So, how much does it cost to hold enough of a chemistry background to be profitable by melting down nickles? You'll need to get a mathematics degree first....(that's added to your expenses...)

Not to mention that melting down coins that belong to the US Federal Reserve will land you in trouble with the law. You might want to keep a few thousand of those nickles around to pay for legal battles. If you REALLY want to make some money on an investment, there are PLENTY of other ways to do it. If you cant think of how to achieve that (as GBSE isn't a big promoter of 'critical thinking' skills), you might try consulting a Certified Financial Planner (CFP).

(in reply to provfivetine)

Post #: 3

RE: Stock up on Nickels! - 2/14/2012 2:08:06 AM

provfivetine

Posts: 410
Joined: 2/17/2011
Status: offline

quote:

ORIGINAL: joether

quote:

ORIGINAL: provfivetine

quote:

Department of the Treasury:
The Budget proposes to provide the Mint with greater flexibility in the material composition of coins to reduce its losses on some coins and the production costs associated with volatile metal prices.

Free Advice:

Trade in your paper money for nickels. Why? Currently, nickels are made of 75% Copper and 25% Nickel (currently worth 5.7 cents each). However, the US mint is recognizing this obvious problem: that the cost of minting nickels exceeds the face-value. Obama's new budget (unveiled today) wants to tackle this predicament. Consequentially, there will be a new metallic formula for nickels, perhaps as soon as this next budget is passed.

What is the point of me posting this? Because the dime and quarter went through a similar transformation a while back. A dime from 1946-1964 is now worth $2.44 and a quarter from 1932-1964 is now worth $6.09. Nickels will enjoy a similar increase in percentage, perhaps even greater, thanks to Helicopter Ben's monetary policy (he's printing so much money that it is starting to affect the cost of printing (coining) money! IRONY ALERT!).

This is pretty much a win-win situation: if I'm right then you could gain over 2000% and your nickels could be worth well over $1 each; if I'm completely wrong then you can cash your nickels back in for face-value. You heard it here first!

I see you went to the 'Glenn Beck School of Economics'.....

A dime dated 1946 is worth that value to a COLLECTOR (provided its in mint condition).

Not to mention that melting down coins that belong to the US Federal Reserve will land you in trouble with the law.

1. No. What's happening here is called Gresham's Law. Research it.

2. You're conflating numismatics as bullion. Learn the difference.

3. Melting down coins is not necessary for this. Keep trying...

< Message edited by provfivetine -- 2/14/2012 2:09:18 AM >

(in reply to joether)

Post #: 4

RE: Stock up on Nickels! - 2/14/2012 2:26:50 AM

Edwynn

Posts: 4105
Joined: 10/26/2008
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quote:

ORIGINAL: provfivetine

A dime from 1946-1964 is now worth $2.44 and a quarter from 1932-1964 is now worth $6.09.

The figures above, as calculated from 1964 to present, work out to an average annual return of ~ 6.88%. Quite the bonanza.

< Message edited by Edwynn -- 2/14/2012 2:35:56 AM >

(in reply to provfivetine)

Post #: 5

RE: Stock up on Nickels! - 2/14/2012 6:41:27 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
Status: offline

1. No. What's happening here is called Gresham's Law. Research it.

Uh, no, no need to research it...that deals with artificial (as in like say te russian rubles of yore) pricing of the money. This is not the case.

And nickle is a pretty common, and very uncompact metal....american silver money to 1964 wis 90% silver and thats the bullion value, nickles arent worth shit really, and never will be, simply because it is ubiquitous compared to silver.

Nickle is going around 9 bucks a pound and copper around 4.

The copper in a nickle is worth more.

Exact value is $0.057429868095345. $0.02573786677719 worth of nickel, $0.031692001318155 of copper.

same reason that the penny is mostly zinc instead of copper.

So, you won't be cutting any fat hogs in the ass hoarding nickles, you are far better off hoarding old pennies, say from post WW2 to 1982. Because they are the most easily gotten.

$3.8334   = copper price / pound on Feb 14, 2012.
   .95       = copper %
$0.9369    = zinc price / pound on Feb 14, 2012.
   .05      = zinc %
3.11      = total weight in grams
.00220462262   = pound/gram conversion factor.
The NYMEX uses pounds to price these metals, that means we need to multiply the metal price by .00220462262 to make the conversion to grams.
1. Calculate 95% copper value :
   (3.8334 × .00220462262 × 3.11 × .95) = $0.0249686
2. Calculate 5% zinc value :
   (0.9369 × .00220462262 × 3.11 × .05) = $0.0003209
3. Add the two together :
   $0.0249686 + $0.0003209 = $0.0252895

$0.0252895 is the melt value for the 1909-1982 copper cent on February 14, 2012.

So, 2.5 times your investment.

Be a penny pincher, not a nickle nobber.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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Post #: 6

RE: Stock up on Nickels! - 2/14/2012 9:17:00 AM

provfivetine

Posts: 410
Joined: 2/17/2011
Status: offline

quote:

ORIGINAL: mnottertail
1. No. What's happening here is called Gresham's Law. Research it.
Uh, no, no need to research it...that deals with artificial (as in like say te russian rubles of yore) pricing of the money. This is not the case.

What are you talking about? Legal tender laws are an artificial construct.

quote:

$0.0252895 is the melt value for the 1909-1982 copper cent on February 14, 2012.
So, 2.5 times your investment.
Be a penny pincher, not a nickle nobber.

Of course you're better off hoarding pre-1982 pennies (if someone is dumb enough to sell you a massive quantity of them at face-value), but they are now out of circulation. You have to pay a premium for them now; no one will sell them at face-value. You don't understand Gresham's Law do you? This is a perfect illustration of it.

You can buy nickels at face-value right now (even though they're worth more than face-value). That's the difference.

(in reply to mnottertail)

Post #: 7

RE: Stock up on Nickels! - 2/14/2012 9:23:17 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
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lol, I have an uncountable number of pre 82 pennies. And greshams law has to do with artficially priced currencies. Read up on it. So, if I have a (in the day) artificially priced ruble, or a black market american dollar, guess what people want? or inflated scammed up reichmark or american dollar, or war yen or american dollar.....read up on it, happens quite often in history, its called Greshams Law.

Do you know that there are still people who despise pennies and throw them out on the street in this country?

Thanks for playing, dont take any wooden nickles.

Go down to the bank and sort rolls, just like we did as kids in my day for wheat pennies.

< Message edited by mnottertail -- 2/14/2012 9:27:35 AM >

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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Post #: 8

RE: Stock up on Nickels! - 2/14/2012 9:40:09 AM

provfivetine

Posts: 410
Joined: 2/17/2011
Status: offline

quote:

ORIGINAL: mnottertail
And greshams law has to do with artficially priced currencies.

EXACTLY!

quote:

"Gresham’s law, observation in economics that “bad money drives out good.” More exactly, if coins containing metal of different value have the same value as legal tender, the coins composed of the cheaper metal will be used for payment, while those made of more expensive metal will be hoarded or exported and thus tend to disappear from circulation."Link

BAD. MONEY. DRIVES. OUT. GOOD. MONEY. WHEN. EXCHANGE. RATES. ARE. SET. BY. LAW.

LEGAL. TENDER. LAWS. CREATE. ARTIFICIALLY. PRICED. MONEY.

WHAT. DON'T. YOU. UNDERSTAND?

quote:

Do you know that there are still people who despise pennies and throw them out on the street in this country?
Thanks for playing, dont take any wooden nickles.

If you want to go run around the streets looking for pre-1982 pennies then go for it. Let me know when you hit it big finding your pennies on the street (most of which are going to be post-1982 pennies because of this law that I keep reminding you of).

< Message edited by provfivetine -- 2/14/2012 9:51:34 AM >

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Post #: 9

RE: Stock up on Nickels! - 2/14/2012 10:12:22 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
Status: offline

I. UNDERSTAND. FINE. YOU. AREN'T. GETTING. IT.

I just popped open a roll of pennies, found 11 prior to 82. 11/50 oh, hell with it, lets call it 20 percent of em. 250% X 20% is better than 100% X 14%. Thats a pretty good one day return on your money.

I aint going to go fuckin around with either pissant kinda collecting, and although grama might start hoarding nickles, she aint gonna get any richer than she is on silver plate, or collectable plates.

Its like hoarding post 64 kennedy halves.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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Post #: 10

RE: Stock up on Nickels! - 2/14/2012 10:19:52 AM

thishereboi

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Joined: 6/19/2008
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quote:

ORIGINAL: mnottertail

I. UNDERSTAND. FINE. YOU. AREN'T. GETTING. IT.

I just popped open a roll of pennies, found 11 prior to 82. 11/50 oh, hell with it, lets call it 20 percent of em. 250% X 20% is better than 100% X 14%. Thats a pretty good one day return on your money.

I aint going to go fuckin around with either pissant kinda collecting, and although grama might start hoarding nickles, she aint gonna get any richer than she is on silver plate, or collectable plates.

Its like hoarding post 64 kennedy halves.

I wish I had horded some kennedy halves. Then I wouldn't be borrowing so much. But that aside...didn't we just put out a new nickle a few years back?

_____________________________

"Sweetie, you're wasting your gum" .. Albert

This here is the boi formerly known as orfunboi

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RE: Stock up on Nickels! - 2/14/2012 10:24:17 AM

mnottertail

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silver halves are worth about 6.5 bucks, the post 64 arent worth shit. (except to idiots, cuz hogs get slaughtered.)

Yeah about 5 years ago we got new nickle designs, but the composition didnt change then.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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RE: Stock up on Nickels! - 2/14/2012 10:28:15 AM

Hippiekinkster

Posts: 5512
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From: Liechtenstein
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20%, eh? 250% return, eh? (check your math... 150%) So Ima sellin' mesa house. Isa take the 1/4mil and buy mesa summa pennies. And 20% isa 50 grand, and de 150% o dat isa lessee now datsa $125 tausend?

So how long do ya think it'll take me to go through 25 milliom pennies?

_____________________________

"We are convinced that freedom w/o Socialism is privilege and injustice, and that Socialism w/o freedom is slavery and brutality." Bakunin

“Nothing we do, however virtuous, can be accomplished alone; therefore we are saved by love.” Reinhold Ne

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RE: Stock up on Nickels! - 2/14/2012 10:34:32 AM

mnottertail

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pretty quick, you can pretty much do it by sight. zinc dont brown like copper.

and yeah, the math of the whole fuckin thing is funky, I am not gonna pencil it out, since unless you are able to smelt your own shit (which is gonna cost) you are gonna pay smelt and commish one way or another, and pay commish at any rate.

Hoarding nickles, and to a lesser extent pennies, is the sort of proposal I might advance in a post-apocalyptic period, but not at the present time.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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RE: Stock up on Nickels! - 2/14/2012 10:45:25 AM

thishereboi

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quote:

ORIGINAL: mnottertail

silver halves are worth about 6.5 bucks, the post 64 arent worth shit. (except to idiots, cuz hogs get slaughtered.)
That and a smile will buy you a pack of smokes if you are too lazy to roll your own.

Yeah about 5 years ago we got new nickle designs, but the composition didnt change then.
OK thanks. I thought we had, but couldn't remember how long ago.

_____________________________

"Sweetie, you're wasting your gum" .. Albert

This here is the boi formerly known as orfunboi

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Post #: 15

RE: Stock up on Nickels! - 2/14/2012 10:52:01 AM

mnottertail

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I want to correct one other error on this thread. You can certainly melt coins, it is done constantly (in this country, I believe Canada (among other countries) have laws against it).

USC 18 Section 331. Mutilation, diminution, and falsification of coins

     Whoever fraudulently alters, defaces, mutilates, impairs,
   diminishes, falsifies, scales, or lightens any of the coins coined
   at the mints of the United States, or any foreign coins which are
   by law made current or are in actual use or circulation as money
   within the United States; or
     Whoever fraudulently possesses, passes, utters, publishes, or
   sells, or attempts to pass, utter, publish, or sell, or brings into
   the United States, any such coin, knowing the same to be altered,
   defaced, mutilated, impaired, diminished, falsified, scaled, or
   lightened -
     Shall be fined under this title or imprisoned not more than five
   years, or both.

You cannot fradulently do something to them, deface a 65 to be a 64 or melt a 1988 gold twenty and recast it as a 31 gold twenty....and so on....worn out silver is melted all over this country, and some girls are wearing american legal tender earrings on this thread, prolly. You cant shave em, for silver lets say and sell them as the real mccoy.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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RE: Stock up on Nickels! - 2/14/2012 10:52:03 AM

Hippiekinkster

Posts: 5512
Joined: 11/20/2007
From: Liechtenstein
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quote:

ORIGINAL: mnottertail

pretty quick, you can pretty much do it by sight. zinc dont brown like copper.

25 million is a lot of pennies. Wonder how much they'd weigh?

quote:

... you are gonna pay smelt and commish one way or another, and pay commish at any rate.

Always gotta pay the Vig.

_____________________________

"We are convinced that freedom w/o Socialism is privilege and injustice, and that Socialism w/o freedom is slavery and brutality." Bakunin

“Nothing we do, however virtuous, can be accomplished alone; therefore we are saved by love.” Reinhold Ne

(in reply to mnottertail)

Post #: 17

RE: Stock up on Nickels! - 2/14/2012 10:54:33 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
Status: offline

quote:

ORIGINAL: Hippiekinkster

quote:

ORIGINAL: mnottertail

pretty quick, you can pretty much do it by sight. zinc dont brown like copper.

25 million is a lot of pennies. Wonder how much they'd weigh?

quote:

... you are gonna pay smelt and commish one way or another, and pay commish at any rate.

Always gotta pay the Vig.

a roll of pennies is gonna weigh around a third of a pound. You do the math, since I am horrid at it. Unless they are all new pennies, then you may not have to get the deluxe lifting belt.

p.s. I collect $100 bills, easier to carry around and takes a while to get heavy, and they are worth $100 wherever you go.

< Message edited by mnottertail -- 2/14/2012 10:56:17 AM >

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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Post #: 18

RE: Stock up on Nickels! - 2/14/2012 11:25:03 AM

Hippiekinkster

Posts: 5512
Joined: 11/20/2007
From: Liechtenstein
Status: offline

83 tons, and whaddya get
Another day older and a shiny red Vette
Some Red Lebanese and some cute little whores
Or maybe a brewpub down at Gulf Shores.

I hear Franklin Mint commemorative coins and old GI Joe dolls are good investments.

_____________________________

"We are convinced that freedom w/o Socialism is privilege and injustice, and that Socialism w/o freedom is slavery and brutality." Bakunin

“Nothing we do, however virtuous, can be accomplished alone; therefore we are saved by love.” Reinhold Ne

(in reply to mnottertail)

Post #: 19

RE: Stock up on Nickels! - 2/14/2012 11:31:37 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
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Oh, they got this nickle now, 24K covered in (thats right folks, count em) 14mg of pure gold...........(worth under a buck)....and nobody is gonna want to fuck around melting that off the nickle....

9.95 (price slashed) plus shipping and handling (which I am sure is a mint (great pun, Ron, thanks, Ron))

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

(in reply to Hippiekinkster)

Post #: 20

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