Do you think they have a chance of going away in the next 30 years?

piecesofme

No, not the whole 2 party system we seem to be locked into here in the U.S.

In the next 30 years, do you think Nickels will be discontinued they way Cents before 1982 were for their Copper realted costs to produce?

For a 30 year plan, should I start putting away nickels for their content because they will be discontinued by the time I die and at some point they will be allowed to be melted down the way 90% was after it was discontinued?
I don't care about the storage issues, we have plenty of room.

I saw a video not long ago ( think someone posted it here even) about a guy that had something like $2.5 MILLION face value in Copper cents just waiting for the Govt. to discontinue the Cent. I don't want to be that guy, but is it worth even doing for a 35 year plan with the hope that Nickels will be discontinued too?

Full Disclosure:
I am one of the "nuts" that already roll Copper cents.

jmski52

If you never have to move and your permanent residence is established for life, then I'd say it's not completely crazy. But, if you ever have to move it's never the same in terms of finding a good place to keep that kind of stuff, and it's not much fun moving it either. When the day comes to liquidate, who knows if it will be sought-after or hard to sell at a good price?

Wingsrule

I personally don't think it is worth the time and or hassle, but I have been wrong before.

It takes a large amount of energy to melt nickel, which equals large discount to spot when selling.

Sample melt temps:
Ag - 1761 degrees F
Au - 1946
Cu - 1982
Ni - 2647

streeter

the U.S. nickel is 25% nickel.

The nickel to save is the Canadian between about 1954 -- 1981. 100% nickel.

Yes you should be saving those. Basically it's .999 refined already. It's already worth a dime. Every coin shop is awash in them. Buy them for face and make the shop owner happy. Worry about how to sell them later. About 10 years down the road, you'll buy me a beer.

secondrepublic

Right now I don't see a reason to set aside nickels. If the time comes when (1) the metal value is much higher than face value, or (2) there's serious talking of discontinuing them or changing composition, that'll be the time to back up the truck. Right now the much better play is copper pennies.

Baley

For most folks, sufficient face value to make storage of pennies and nickels worthwhile would be far too bulky, and tie up too much capital with too low a probability of a favorable outcome in the timeframe the coins are held. It is obvious that not everyone has the same views of time, space, money, and future prospects for pennies and nickels.

ModernCoin

<< <i>I personally don't think it is worth the time and or hassle, but I have been wrong before.
It takes a large amount of energy to melt nickel, which equals large discount to spot when selling. >>



The point most overlook when it comes to melting nickels, or Cu pennies for that matter, is the fact they won't have to be melted at all. They'll be traded just like 90% is traded today. Very few here actually melt pre-65 coinage, yet we all trade with it. Cu pennies are already traded for more than face value right now so whenever it's finally legal to melt them more people will trade them the same way they trade 90% now. It should also be noted that larger scrap yards already pay specifically for cupro-nickel so cashing in nickels will be quite easy as you'll be able to scrap them, or sell them to PM dealers like 90%. As for when that happens I haven't the slightest, but I believe it would happen within 10 or 15 years after production ceases. Metal is money and every collector/stacker should have at least one closet floor lined with nickel boxes .

streeter

here's the way I look at it. Your viewpoint may differ.

Nickel is , right now, at historically 1/3 of what is was a few years ago. The Canadian nickel between 1954-1981 is 100% nickel. In So. Cal. shops have them by the rolls in their junk bins. I buy them at face but a shop owner can only get 60% for foreign coinage so they are mostly happy to sell them to me. It's not the only thing I buy

40 Canadian nickels to a roll. Cost $2.00. Intrinsic value. $4.00. Value when nickel cycles up +/- x3=$12.00 roll. Value is different than realizable gain but I am a long term value collector. Everything cycles in life. I have no idea how I will sell, I'll figure it out later.

effortless. How many rolls in a large priority USPS? Lots. A 100 rolls? At least. As Moderncoin said, line your closet floor with these boxes. Start now. Don't think about selling. Wait. Don't mix the nickels.

Cents and nickels are the only coins circulating where the base metal approximates the value of the coin. When they announce the removal of these base metals, it's too late.

Go to Canada, buy nickels at the bank, run a magnet over a handful. How many of the 100% nickels do you think you'll find in Canadian coinage?

droopyd

<< <i>The nickel to save is the Canadian between about 1954 -- 1981. 100% nickel.

Yes you should be saving those. Basically it's .999 refined already. It's already worth a dime. Every coin shop is awash in them. Buy them for face and make the shop owner happy. Worry about how to sell them later. About 10 years down the road, you'll buy me a beer. >>



They're already pretty much gone from circulation already.

piecesofme

I've come to my senses. Just gonna stick with .999 & 90% Silver, although I may buy a few hundred pounds of Copper if I can find it right for the heck of it and put it back and forget about it.

Weiss

<< <i>Right now I don't see a reason to set aside nickels. If the time comes when (1) the metal value is much higher than face value, or (2) there's serious talking of discontinuing them or changing composition, that'll be the time to back up the truck. Right now the much better play is copper pennies. >>



The Coin Modernization, Oversight, and Continuity Act of 2010 requires the Mint to conduct extensive research and development for metals alternatives, and have a detailed report with the recommended selections to the Treasury secretary and Congress by Dec. 14, 2012.

The first stage of the study has been completed, with the field of possible alternatives for each denomination narrowed down. The first round of test strikes were produced in December at the Philadelphia Mint, Peterson said.

U.S. Mint Exploring Alternative Coinage Composition

mrearlygold

2 parties?

66Tbird

I have lots of copper cents and at the moment I use them a lot for copper washers. Ever need to clamp down a main line on a hot-wire? (For containment of livestock) There ya go, two seconds on a drill press then wire wheel and you just saved a dime and gas to go get it. Soft washers have a place and at a cent each they work.

piecesofme

Base metals might not be so base in another decade or two

God willing, I will live at least that long and reap what I have rolled with the pre-1982 cents I've been rolling for 15+ years now.