Why You Need to Own Nickels, Right Now

Economic Policy Journal ^ | 2-6-2011 | Robert Wenzel

[SunkenCiv]

Robert Wenzel: Back at the commodity level, copper is the latest to hit a record at $8,966 a ton... At some point, nickels, which are mostly made of copper, will start to disappear from circulation. There's right now 6.2 cents worth of metal in a nickel [Note the value is now up to 7.2 cents.-RW].

:') Thanks blam. What we need in the White House is another FDR, who'd call in all the nickels.

[blam]

"What we need in the White House is another FDR, who'd call in all the nickels"

Yup. The one we have just accumulates idiots.

[CommieCutter]

Yeah, dammit. If this goes viral it will be sooner than expected. I was hoping to have a few more months of quiet accumulation.

To say I'm displeased with this posting is putting it lightly.

[blam]

"Why bother with a wheelbarrow when you can buy the copper ETF COPX.

I think you've missed the whole point of the article.

[When do we get liberated?]

They are mostly made of zinc

[SunkenCiv]

• US Mint: Coin Specifications

[tbw2]

Is this article saying to buy current-issue nickels or silver nickels from the pre-junk coin era?

[Presbyterian Reporter]

silver nickels???

[joinedafterattack]

Only problem is it is a federal crime to melt nickles.

[SunkenCiv]

Barney Miller — “The Child Stealers” — Season 6, Episode 15 — Thursday January 24, 1980 — “A self-proclaimed time traveler tells Harris to fine tune his stock portfolio”
http://www.tv.com/barney-miller/the-child-stealers/episode/4197/summary.html

The time traveler told Harris that a huge future precious metals strike destroyed their market value, and the entire world switched to a zinc standard, so Harris calls his broker and springs for a couple of tons. :’)

[Blood of Tyrants]

The ones made after 1981 are. The earlier onesa re copper.

[Bloody Sam Roberts]

ping

[Onelifetogive]

Is this article saying to buy current-issue nickels or silver nickels from the pre-junk coin era?

Nickels were never silver, always nickel. Hence, larger than the silver dime for half the value (a less valuable metal.)

[Jet Jaguar]

goldbug ping.

[PeatownPaul]

Ok, I’ve worked the math out based on the latest spot prices for copper and nickel and the US Mint’s formulation for nickels at 25% nickel and 75% copper. I cleaned out my change drawer and weighed 35 nickels on a kitchen scale. The results:

35 nickels weighed 6.1 oz or 0.0109 lb

Scrap Copper at $4.5666 per lb
Scrap nickel at $12.7896 per lb

$4.5666 * 0.0109 * 75% = 3.73 cents copper
$12.7896 * 0.0109 * 25% = 3.49 cents nickel
= about 7.2 cents total per coin

[Zeppo]

Only problem is it is a federal crime to melt nickles.

Not in Canada, Mexico, Cayman Islands, Bahamas, etc. etc. (?)

[WOBBLY BOB]

BFL

[Altura Ct.]

Nickels were never silver, always nickel.

Not totally true. 'Wartime nickles' minted 42-45 are 35% silver.

[Marie Antoinette]

Ping for the poor man’s investing. :)

[packrat35]

During 1942-1945, the US had silver nickles.

From mid-1942 to 1945, so-called Wartime composition nickels were created. These coins are 56% copper, 35% silver and 9% manganese.