Market Curiosity: Exploring Markets And Systems

January 10, 2011

Strongly consider saving nickels — currently worth 6.6 cents (updated Aug 2012)

Filed under: Editorials — Tags: , — Jeff Fitzmyers @ 2:25 pm

From “Preparing for open ended events…”:

Non-Precious Metals
Consider buying nickels. Apparently they have about 4.5 cents worth of metal right now. Most banks won’t sell bulk nickels — I tried 7-8 of them. So find a friend who has a merchant account. They can request a $100 box easily. Just saving change is good! There is little risk — a nickel will still be worth “5 cents”. And who is going to bother stealing nickels right now?? The main thing is, in a pinch, you just want something that: can’t be easily duplicated, is a bit scarce, easily stored, and easily recognized.

Actually each nickel now has about 6.6 cents of metal in them. A box of $100 is worth about $130 if melted down. Of course melting nickels is a felony now. Easier to make a rule than address the underlying issue.

We don’t want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers.

Actually the American taxpayer, really the American Citizen, is already being taken advantage of through the hidden tax of inflation. Nickels being more valuable than fractional fait currencies is just a symptom of that hidden tax.

If the monetary system resets, nickels should be worth a lot more.

Nickels currently cost over 9 cents to make.

The wiki on nickels.

More info: Mass Inflation Ahead — Save Your Nickels!

Updated February 3: Nickels worth 4.5 cents, opps 6.6 cents, opps 7.2 cents. Up 9% in less than a month.

Updated October 3: Now only worth about 4.85 cents. I’m still sifting through change 🙂 Anyone can afford this. This post consistently gets a hit or 2 or more almost every day.

Updated October 4: Mr Bass, who lives in a 40,000 sq ft house, has also bought 20 million nickels for $1million.

Updated November 4: A friend has pointed out that nickels as barter might not be a good idea because of the stock to flow ratio. “When there is only a small stock of a commodity compared to flow, then the value of that commodity can fluctuate enormously.” Very true. However, what happens if things collapse and the flow of copper collapses too? Nickels are CHEAP. $100 could facilitate barter at the neighborhood level. (Currently worth 5.2 cents.) (Interestingly, this post is consistently one of the most popular on this blog.)

Updated August 9 2012: Newer posts about nickels:
+ Nickels worth 4.5 cents, opps 6.6 cents, opps 7.2 cents. Up 9% in less than a month. (February 2011)

Updated December 3 2012:  These nickel posts are still, overall, the most popular posts here.

The cost of making pennies and nickels are about twice the face value of the coins–2.4 cents for a penny and 11.2 cents for a nickel, the Treasury Department said earlier this month. Rising commodity prices have driven higher production costs.

No, currency debasement has increased the purchasing value of harder assets like copper. Gold and silver have left the money supply, now copper is.

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