Nickel(s)

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Vrusk313
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Nickel(s)

I was thinking about getting some copper, either in bullion or scrap.  The premium on copper bullion is ridiculous and I don't know a legit place to aquire scrap (also the good oxygen free copper sheets for industry are pricey as well).  On survivalblog.com, there was talk about storing nickels.  I gave it a thought and lately, I've been stockpiling $100 boxes of nickels from the bank (just one box a month so far).

My thoughts:

1. coinflation.com today says a nickel is worth 6.23 cents.  So from a melt standpoint, I'm already a winner.

2. If the USA gets its act together and the dollar is stable, well, my nickels are still worth 5 cents and I haven't lost anything.

3.  These boxes are HEAVY.  There is no way a smash and grab robbery at my place is going to get all my boxes of nickels. A man might be able to run with one box.  They would have to load everything in a truck.  In order for them to take it all means I'm already dead defending my place and/or house alarm failed to call the authorities.

4.  The act passed in 2010 allows the treasury to change the composition of nickels to something cheaper.  They did this to silver coins and look at the value of junk bags of silver today.  Todays nickels could be tomorrows junk bag of nickel.

5.  Haven't tested it, but I'm thinking these boxes might stop incoming rounds of common calibers if I stack the boxes against the wall.  Store of value + armour plate.

Your thoughts?

Edited by admin on 11/08/2014 - 06:11
jackmeoff
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Love reason # 5

Reason 5 is the only one I would use nickels for. If I could melt them without it being a felony I can see stacking them also but they are bulky, heavy, the market still has too many of them. Now if you are looking at 20 years or something like that out maybe one day they will be worth something but it  just does not do it for me. Copper is not bad but its almost the same as nickel. The premium on kilo bars are huge and I think it is more of a panic play for investors that just dont understand or dont have the funds for gold, silver, platinum or palladium. Now if that is all you can afford then its better then not having something but I would go with silver if you can stack nickels or 1/10 oz gold coins.

Vrusk313
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Mostly doing for reason #3

Cash in the house that the kids wouldn't dare attempt to spend because it's too embarrassing, too heavy to steal.  Forcing me to save because I cannot spend it too readily, but if I had to I could go to the bank and deposit it.

mrslippery
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I am stacking some nickels.

I am stacking some nickels.  A little over 10,000 to date with a goal of 20,000 ($1000). It's really sort of a lark, a fun hobby. Real money is in gold.  I order $100 boxes from the bank, they are pretty compact, 28 lbs each.  My friends think it's funny so they donate all their nickels to me.  I'm probably up $10 on donations alone!

Upside: 

Zero transaction costs to buy/sell (other than time and storage space).

Deflation protection since it is legal tender, inflation protection for metal content if inflation gets out of control.

Always useful to have small denomination money in case ATMs shut down, but really small bills are more practical.

Zero investment risk.  If copper/nickel drops below face value, you've lost nothing and deposit at full value.

Downside:

Bulky, heavy.  The bulky part prevents large investments unless you have a barn or warehouse.

Basturd Toadflax
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Nickels

A good friend of mine went to the bank and bought 2k worth of nickels and when they backed up the car, the guys loading were laughing as they knew what was about to happen.  Well, the car bottomed out but they managed to get it to it's destination.  Doesn't make much sense to me however as there are better alternatives IMAO.

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Mr. Picklepants
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 From a currency collapse

From a currency collapse standpoint, which is what this blog is about, nickels do make sense.

If there is a currency revaluation, wouldn't the nickels just stay the same value relative to the paper?

Or is it more likely they will do away with change all together?

Basturd Toadflax
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It depends

It depends I suppose on how things actually play out.  It's all a crap shoot and you have to go with what you believe will happen.  What will the barter item be worth if the other party has no idea what they are worth?   It has been said that when TSHTF , the silver prices will be reported on the radio regularly but will that include 90% coins ?   nickels?   who knows.  Surely not I.  

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Pablo
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Dimes in the Attic

We have a couple boxes of nickels, got them on a whim. What's the downside? There isn't any that I can see besides the space you'd need if you really wanted to store any significant amount. The way I see it, those couple boxes of ours can sit in the attic until my grandkids find them some day in 2048 and they're worth 25x face like 90% is now. Don't you wish you found $200 face of 1964 dimes in your attic today?

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