This Guy Owns 20 Million Nickels
mrearlygold
Posts: 17,858 ✭✭✭
I guess this could be put in the precious metals side but then I thought about those who would search the 20 million nickels and here we are.
Meet the Texan investor who made millions from the credit crunch... and now he stands to make 65,000% profit if Europe goes down the drain
Keeps huge gold bars in his desk drawer and owns 20 million nickel coins
Texas Investor
Hmm, G-d bless Texas?
Meet the Texan investor who made millions from the credit crunch... and now he stands to make 65,000% profit if Europe goes down the drain
Keeps huge gold bars in his desk drawer and owns 20 million nickel coins
Texas Investor
Hmm, G-d bless Texas?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
0
Comments
<< <i>I guess this could be put in the precious metals side but then I thought about those who would search the 20 million nickels and here we are.
Meet the Texan investor who made millions from the credit crunch... and now he stands to make 65,000% profit if Europe goes down the drain
Keeps huge gold bars in his desk drawer and owns 20 million nickel coins
Texas Investor
Hmm, G-d bless Texas? >>
I want to watch them being hauled to the eventual buyer!
Steve
<< <i>Theres something very wrong with the idea of wealthy/powerful people betting on which countries economy will go bust. >>
Would you feel different if they were betting which countries economies weren't going to go bust? Because in this scenario someone is (the seller of the credit default swap).
I wouldn't want to be the guys who smiles, waves and says "I have 20 million nickels and lots of gold bars, including in my desk, my name is soandso and I'm at work usually from 8:30 am until 3:30 pm, minimum, Monday through Friday, except when the stock/bond markets are closed"
Instead of making 20% per coin he makes 100% profit per coin
<< <i>A better investment instead of the nickel buy would be pre 1982 pennies.
Instead of making 20% per coin he makes 100% profit per coin >>
With pre-82 cents they'd have to be separated from the zincs to get them at face. With all the time involved in doing this nickels would probably be a better investment.
Franklin-Lover's Forum
This guy and his buddies buy up tons of nickels and copper cents. Then they use their 1% influence to get the laws changed, allowing the melting of cents and nickels .... and Bingo, a ton more money for the 1 %
<< <i>
<< <i>A better investment instead of the nickel buy would be pre 1982 pennies.
Instead of making 20% per coin he makes 100% profit per coin >>
With pre-82 cents they'd have to be separated from the zincs to get them at face. With all the time involved in doing this nickels would probably be a better investment. >>
There is already machines available for seperating copper cents from zincolns , affordable too. They would just buy one of those on a larger scale ..pun unintended.
Little Texas - God Blessed Texas
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>This might be playing on the office stereo ( do they call them stereo's anymore?
Little Texas - God Blessed Texas >>
My parents had a Hi Fi
the expense of hundreds of millions of fellow humans is NOT someone to be admired in any way. The guy is a
leech, a parasite, someone to be shunned by decent people. Go out and spend some time with the millions that
are unemployed in this country, mostly due to the financial shenanigans of people like this guy. Once you are done
with them, THEN we can talk about pond scum.
<< <i>Ignoring the Texas connection, since guys like this hail from all over the world, someone who makes a fortune at
the expense of hundreds of millions of fellow humans is NOT someone to be admired in any way. The guy is a
leech, a parasite, someone to be shunned by decent people. Go out and spend some time with the millions that
are unemployed in this country, mostly due to the financial shenanigans of people like this guy. Once you are done
with them, THEN we can talk about pond scum.
Yeah....how dare anyone make a substantial profit by simply putting their money where their mouth is. This guy did not create the financial problems we now face.....he simply saw them coming and put his money where his opinion was. Whether or not this guy bets against or for a nation's default does not in any way/shape or form influence that nation's debt problem outcome. This is just a man who sees things the way they really are (and the way they are really going) and has the balls to back it up with cash.
What a horrid person!
<< <i>Ignoring the Texas connection, since guys like this hail from all over the world, someone who makes a fortune at
the expense of hundreds of millions of fellow humans is NOT someone to be admired in any way. The guy is a
leech, a parasite, someone to be shunned by decent people. Go out and spend some time with the millions that
are unemployed in this country, mostly due to the financial shenanigans of people like this guy. Once you are done
with them, THEN we can talk about pond scum.
It takes a special kind of person to make this type of unsubstantiated claim.
You, sir, are that special kind of person.
I bet he could get a good deal on BULK GRADING
GrandAm
I don't get the 20,000,000 nickels, though. A glaring error in the original thread is that one assumes because because this guy guessed right on one matter, that he knows what he is doing in another matter. Ie., Warren Buffett made some great investments, but he made some really bad ones as well.
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>If this guy wants to speculate on currencies, etc., he has a legal right to do so. George Soros made a fortune speculating against the British Pound in the early 90s and again against the Brasilian Real ten years later.
I don't get the 20,000,000 nickels, though. A glaring error in the original thread is that one assumes because because this guy guessed right on one matter, that he knows what he is doing in another matter. Ie., Warren Buffett made some great investments, but he made some really bad ones as well. >>
Re: the 20 million nickels.......Imagine a person in 1965 doing the same with 4 million quarters. Just 15 years later (1980) would have netted that person about $35 million dollars on a $1 million dollar "freeroll".
Although nickels are currently illegal to melt now.....once the mint is forced to change composition a few years down the road, its very likely that the government will care less what you do with your nickels......similar to dimes and quarters now.
So why not take the "free" shot at a potential windfall. His only risks that I can see are safe storage and beating inflation (opportunity costs negated because $1 million to this guy is chump change).
<< <i>
<< <i>This might be playing on the office stereo ( do they call them stereo's anymore?
Little Texas - God Blessed Texas >>
My parents had a Hi Fi
HEY, I Had a HiFi too! Magnavox. Made in the USA too! Big DEEP BOOMING BASS.
Ahh the good old days. I have Klipsch Speakers now. 119 pounds EACH. Made in Arkansas I believe. Blows away most other speakers. We used to build the best stuff.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>This person is saving our mint/government a ton of money by not having to store these in their vaults along with all the other excess coinage we produce. We need a couple thousand investors like this! >>
Wrong. Had this guy been hoarding prezzie dollars or state quarters, then the government is "cashing in" on him. But because the government is willing to sell $1,042,200 worth of metal for $1,000,000......this guy is getting the better end of the deal by far.
Im sure Youtube has a few good interviews of him.
Knowledge is the enemy of fear
The smart nickel to hoard is the pre 82 Canadian nickel...100% nickel..except for the Korean war era/ tombac/ and chromiums. The Canadian pre 82 nickel 5cent at $25 lb is (3x and 4x=12x) the value of the American nickel today. That's $32 a roll. If you accept 6.8 cents as the nickel value of the Jefferson.
eventually the nickel will be chrome/steel or stainless steel.
No, there's something wrong with pushing an economy to go bust.
-Keith
<< <i>The article states each nickel has 6.8 cents of nickel value. That's at todays low low price of nickel. Wait til Canada and RUSSIA start imposing environmental restaints on nickel mining. Nickel used to be above $25 a lb./ refined------- it'll go back there again. That's 3x times the present price.
The smart nickel to hoard is the pre 82 Canadian nickel...100% nickel..except for the Korean war era/ tombac/ and chromiums. The Canadian pre 82 nickel 5cent at $25 lb is (3x and 4x=12x) the value of the American nickel today. That's $32 a roll. If you accept 6.8 cents as the nickel value of the Jefferson.
eventually the nickel will be chrome/steel or stainless steel. >>
U.S. nickels are 75% copper and 25% nickel.
<< <i>Theres something very wrong with the idea of wealthy/powerful people betting on which countries economy will go bust. >>
Short selling should be banned.
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>Although nickels are currently illegal to melt now..... >>
Nobody who's going to melt nickels cares whether it's "illegal" or not.
60 years into this hobby and I'm still working on my Lincoln set!
Hoard the keys.
<< <i>
<< <i>If this guy wants to speculate on currencies, etc., he has a legal right to do so. George Soros made a fortune speculating against the British Pound in the early 90s and again against the Brasilian Real ten years later.
I don't get the 20,000,000 nickels, though. A glaring error in the original thread is that one assumes because because this guy guessed right on one matter, that he knows what he is doing in another matter. Ie., Warren Buffett made some great investments, but he made some really bad ones as well. >>
Re: the 20 million nickels.......Imagine a person in 1965 doing the same with 4 million quarters. Just 15 years later (1980) would have netted that person about $35 million dollars on a $1 million dollar "freeroll".
Although nickels are currently illegal to melt now.....once the mint is forced to change composition a few years down the road, its very likely that the government will care less what you do with your nickels......similar to dimes and quarters now.
So why not take the "free" shot at a potential windfall. His only risks that I can see are safe storage and beating inflation (opportunity costs negated because $1 million to this guy is chump change). >>
All very good points except for the one that matters: Specifically, why has the cost of copper and nickel gone up and will that change in the market be constant?
IMO, regardless of when the country changes the nickel alloy, the coins he's purchased will always be under the protection of the US Government against melting them simply because they are money. The US Government has been quick to respond to any threat regarding the metal content and the metal speculators since mass melting of "current" US coinage creates coin shortages.
Why a successful investor would even consider this as a "good speculation" seems incredibly naive. Publicizing such an investment also seems a bit self serving.
Given the fact that gold and silver have other uses and are widely appreciated as precious metals, do you really think that silver will be treated the same way in 10 or 20 years or if perhaps he is able to melt them and turn a profit, will the profit achieved have been worth the expense of storing the coins for that long? 20,000,000 nickels takes up a lot of space and since they are spendable, require 24/7 security to insure that they don't somehow disappear a box at a time.
The name is LEE!
<< <i>This person is saving our mint/government a ton of money by not having to store these in their vaults along with all the other excess coinage we produce. We need a couple thousand investors like this! >>
According to the mint, hoarding costs them money, that's why it's illegal to melt the cents (not sure if the law includes nickels).
<< <i>
<< <i>This person is saving our mint/government a ton of money by not having to store these in their vaults along with all the other excess coinage we produce. We need a couple thousand investors like this! >>
According to the mint, hoarding costs them money, that's why it's illegal to melt the cents (not sure if the law includes nickels). >>
It does.
As a matter of fact, I wonder why Mr. Texas hasn't been contacted by the US Mint or Treasury department since his "publically published investment" kinda thumbs his nose at the law by literally taking 20,000,000 nickels out of the circulating coin pool thereby creating a shortage?
The name is LEE!
Funny - how about "LONG BUYING" should be banned??? The difference? - just the opposite side of taking a risk to make money, with the possibility of losing it. Out there the "have-nots" are blaming the "haves" for all their financial troubles. Maybe investors should LISTEN to this guy - He may save them a lot of .....money....
<< <i>He said his mother tells him to put his money in 'guns and gold'. >>
I think his mama is a very smart lady ! ! !
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
So 20 million nickels are valued today at $1,004540.0
after the costs of the smelter ????
Millions of nickels stolen from Fed
The trail begins at the Federal Reserve building in East Rutherford, N.J..
In mid-December, a large tractor-trailer is loaded up and heads south, bound for the Fed in New Orleans.
Sealed in back of the truck is $180,000 worth of newly minted U.S. nickels.
They are in 900 bags and weigh nearly 23 tons.
That's 3.6 million nickels - and soon they would just disappear
http://www.msnbc.msn.com/id/6826757/ns/nightly_news/t/millions-nickels-stolen-fed
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
<< <i>
<< <i>Ignoring the Texas connection, since guys like this hail from all over the world, someone who makes a fortune at
the expense of hundreds of millions of fellow humans is NOT someone to be admired in any way. The guy is a
leech, a parasite, someone to be shunned by decent people. Go out and spend some time with the millions that
are unemployed in this country, mostly due to the financial shenanigans of people like this guy. Once you are done
with them, THEN we can talk about pond scum.
Yeah....how dare anyone make a substantial profit by simply putting their money where their mouth is. This guy did not create the financial problems we now face.....he simply saw them coming and put his money where his opinion was. Whether or not this guy bets against or for a nation's default does not in any way/shape or form influence that nation's debt problem outcome. This is just a man who sees things the way they really are (and the way they are really going) and has the balls to back it up with cash.
What a horrid person!
No offense, but whose money is he using? Most large speculation deals like this one are heavily
leveraged, usually through at least one limited liability corporation, where he can just back away
and lose very little of his own money.
His "landfall" during the banking crisis most likely came from bank bailout funds, or the money we
gave AIG to keep them solvent. Still feel that this guy should be idolized? Taking $500 a month
in unemployment benefits makes you a drain on society, but running off with millions in taxpayer
funds makes you a hero?