Nickels are finally worth more than $0.05

[44_Dimes]

I just want to hear some of your thoughts on the matter. Is anybody starting to hoard them?

 

[canaboy123]

The ban prohibiting the melting of pennies and nickels will never be lifted for joe anybody,if nickel or copper goes so high the u.s goverment will scrap them themselves.

 

[Generic_Lad]

No point in hoarding them until they change the composition. Why would I pay someone more than 5 cents for a nickel if I can go down to the bank and buy $500 FV no problem. Plus, unlike copper cents or silver you can't melt them easily (assuming you can melt them without running afoul of laws) because you have to separate it between the copper and nickel contents.

 

[Stephen Hawking]

I have a few 5 cent coins in my trousers.

 

[Gilmore Happy]

By hoarding nickels, you are pretty much saying "I am not intelligent enough to make more return with my money than the performance of copper." A complete waste of capital in my opinion, plus you will have to find a buyer that can't find his own nickel when the time comes. They are abundant.

Im a fan of copper pennies however bc 1 copper cent is already 2.0+ in melt. A screamin value. If you have a couple extra grand that you have no where else to put it, put it in your attic via pennies if you must invest in copper.

 

[Gilmore Happy]

and I hope no one says, yeah but a nickel is 25% nickel. Yeah they all perform the same (base metals)

 

[Easy]

There is a winning strategy to nickels and cents but it still isn't as profitable as decent silver averages.

 

[DarioMontesdeOca]

I think many people are starting to collect and hoard them, especially since they recently passed the $0.05 value according to Current Melt Value Of Coins - How Much Is Your Coin Worth?
I would still rather collect nickels over pennies simply because of the overhead involved. But don't get me wrong I love collecting wheaties and any penny that's not already in my coin folders.

What many people don't have is a large enough place to store their metal collection, if I'm going to collect and store en masse I would rather collect nickels over pennies simply because of their size and bulk. The ratio of nickels to pennies is 5:1, when this starts reaching into the thousands the pennies will be quite bulkier compared to the nickels!

Not to mention that you'd have to sort through pennies to find the pre-1982 95% copper vs. the 1983 to date 97.5% zinc pennies plated with copper. This can be quite time consuming if you have thousands of pennies to search through! Compared to the nickel, nearly all of them have the same 25% nickel, 75% copper, even the new ones in 2012. The 1942-1945 war nickels I always keep an eye out for.

But I 100% agree with Easy, I would rather have more of my $ invested in silver where I'm virtually guaranteed to get a better ROI.

I'm going to start a new thread because now I'm super curious to hear everyone's opinion on this.
Thanks for posting!

 

[Wilmingtonsilver]

Dario, you are looking at the wrong ratio when you are talking about copper pennies vs. nickles. You are talking F.V. ratio when you should be talking about profit ratio. Profit on a copper penny is 2.5:1 vs. 1.06:1 for a nickle. With that profit ratio, and the fact that the current year is the exact same as it has been for 66 years and doesn't look to change soon, doesn't make any sense at all to even consider hoarding nickles. There is no shortage to drive up the value. Therefore, until there is a nickle is just worth a nickle.

 

[DarioMontesdeOca]

Dario, you are looking at the wrong ratio when you are talking about copper pennies vs. nickles. You are talking F.V. ratio when you should be talking about profit ratio. Profit on a copper penny is 2.5:1 vs. 1.06:1 for a nickle. With that profit ratio, and the fact that the current year is the exact same as it has been for 66 years and doesn't look to change soon, doesn't make any sense at all to even consider hoarding nickles. There is no shortage to drive up the value. Therefore, until there is a nickle is just worth a nickle.

I do agree with you, there is a better profit potential at the moment for copper and none of us can predict an exact future. Everyone living in the early '60s didn't think their silver content dimes, quarters and halves would shoot past their face value within a few decades. But when people started realizing their actual value in terms of melt they were pulled more and more out of circulation, even to this day mostly everyone is still on the lookout for those pre-65 coins.

I can't say for sure what will happen to the value of the nickel because I'm no expert in this area but from what I've gathered so far the Fed is enacting laws to soon change the composition of the nickel as early as mid-2013.

 

[Easy]

I do agree with you, there is a better profit potential at the moment for copper and none of us can predict an exact future. Everyone living in the early '60s didn't think their silver content dimes, quarters and halves would shoot past their face value within a few decades. But when people started realizing their actual value in terms of melt they were pulled more and more out of circulation, even to this day mostly everyone is still on the lookout for those pre-65 coins.

I can't say for sure what will happen to the value of the nickel because I'm no expert in this area but from what I've gathered so far the Fed is enacting laws to soon change the composition of the nickel as early as mid-2013.

Hahaha , it doesn't matter what they change it too as long as its metal. Eventually it will me worth more than face. Look at the zinc cent. Now if they make some kinda plastic or something that's different.

 

[BuffaloBoy]

nickels are worth 5.35 cents according to coinflation... does that mean the 2 boxes of nickels sitting in my closet are worth $214.00? nope... i don't think it's worth it.

 

[thripp]

Nickels had over 6 cents in metal content previously before dropping below 5 cents recently. They aren't worth that much because even if you could melt them you wouldn't get melt value because of the undesirable 25% nickel / 75% copper mix.

 

[DarioMontesdeOca]

Hahaha , it doesn't matter what they change it too as long as its metal. Eventually it will me worth more than face. Look at the zinc cent. Now if they make some kinda plastic or something that's different.

True