Market Curiosity: Exploring Markets And Systems

September 7, 2012

Update on acquiring nickels. Currently worth 7.27 cents. (updated Dec 2014)

Filed under: Just Watching — Tags: — Jeff Fitzmyers @ 7:00 pm

March 2, 2011
SurvivalBlog.com adds to their original Save Your Nickels:

… North Carolina. My bank continues to order boxes [of $100 face value in nickel rolls] for me, but they were told by their supplier that 20 boxes was the new limit per week (I had asked for 55 boxes). The funny thing is the manager said they would simply order me 20 boxes/week until I had what I wanted!.. They also noted a strong uptick (from essentially none) in customer requesting nickels for the same reason I am getting them – base metal value. Though none more than a couple of boxes…

…Presently nickels are in odd and always short-lived situation for a circulating coin: Their base metal value exceeds their face value. But for now, they are still freely available at their face value. Gresham’s Law dictates that they will soon be driven from circulation. Mark my words: Once the base metal value surpasses 10 cents for the 75/25 composition Nickels, they will almost magically disappear from circulation. Poof! They will be gone… If and when the spot price of silver shoots up past $100 per ounce, it will make even a silver dime too valuable to be used as the smallest currency unit.

References
+ Nickels worth 4.5 cents, opps 6.6 cents, opps 7.2 cents. Up 9% in less than a month.
+ Strongly consider saving nickels — currently worth 6.6 cents
+ Coinflation.com

Update 1, August 9 2012: (nickels currently worth 4.7 cents) Small change sparks fights in coin-starved Zimbabwe

“Change is a big problem, and at the same time passengers are impatient with us. I have been slapped a few times for not having change for them,” said a bus conductor Walter Chakawata… Initially, drivers issued credit notes in the form of coupons but they were not universal and only valid on specific routes. Bus operators also ran into problems with fake coupons… This … has prompted entrepreneurial-minded young men to smuggle in coins from South Africa to sell to bus conductors.

Update 2, September 7 2012: Nickels are one of the most popular topics on this blog. Nickels now have 5 cents of metal.

December 2014
Uncle Sam Does The Impossible: Loses $105 Million/Year Coining Money! “…it costs the government 1.7 cents to make a penny… more than 8 cents to make a nickel.”

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