Why You Need to Own Nickels, Right Now

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

[RWB Patriot]

The pre-1982 pennies have copper in them.

[Blood of Tyrants]

1981

[ladyvet]

These kind of threads make me want to break out the DFX medal detector. Takes awhile but you always find old coins, it's good exercise and just plain old fun! Thanks for the ping.

[Jane Long]

Yep. I see a guy, every Sunday a.m., at our local park with his detector. He probably finds lost rings (softball games) and plenty of coins.

[Bloody Sam Roberts]

Clearly, copycat copper capers create consternation.

Clearly. Especially in Clevelend. Gotta watch that Claude Cooper cat. He like clappers.

[Blood of Tyrants]

Who says you can’t?

[Oatka]

I wouldn’t worry about the general populace catching on right away. Similar articles have been on the survival websites for at least a year:

Yeah, you are right. I've been telling my relatives to "execute Plan B" [just like I told them about the silver coins in 1965]. No one is listening. I've just seen a few like-minded posters here, but so far, so good. Gotta get down to the bank today. :-)

[The Comedian]

In the old days, this crap had chocolate candy inside...

Even better:

Today is a good day to die.
I didn't say for whom.

[zeugma]

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.

They are easily identified by the mint mark being above the dome of the Monticello. Silver nickels rock.

One of the bad things about people starting to hoard and melt nickels, is that for quite a long time I've encouraged kids to start collecting nickels if they show any interest at all in coins. That's because until recent years the basic design on the nickel essentially didn't change since the 1920s. That means you find many older coins in circulation than you will quarters, dimes, or pennies. If you watch your change closely you'll see nickels from the 40s are still in circulation. I've basically been recommending they keep their nicklels, compare them to the ones they currently have, and keep the best example of each year and mint. Doens't cost them hardly anything, and yet every once in a while, they'll be rewarded with a new find.

[ArrogantBustard]

There are 146 copper pennies to a pound. Copper is about $4.50 a pound. Therefore each copper penny is worth about 3 cents.

The vast majority of pennies in current circulation are made of zinc.

[zeugma]

Also have a colonial (or early republic) 3 cent piece, that appears to be iron or something.

It's probably silver.

[Blood of Tyrants]

Yes, that is why I specified “copper pennies”. They can be found, but they are not common so you couldn’t get rich by cashing them in for their copper value.

However, zinc prices are over a dollar a pound, too.

[Blood of Tyrants]

P.S. But it takes 181 zinc pennies to make a pound. It isn’t quite there yet, but with Obozo as president, I feel confident that he can drive the value of a dollar down even further.

[ArrogantBustard]

with Obozo as president, I feel confident that he can drive the value of a dollar down even further.

I keep a Zimbabwean "One Hundred Trillion Dollar" note pinned up in my office as a reminder of where we're headed.

[CommieCutter]

I have told some people in private about it in the past and it almost doesn’t compute when you tell them.

[CommieCutter]

I wouldn’t worry about the general populace catching on right away. Similar articles have been on the survival websites for at least a year:

Yeah, you are right. I've been telling my relatives to "execute Plan B" [just like I told them about the silver coins in 1965]. No one is listening. I've just seen a few like-minded posters here, but so far, so good. Gotta get down to the bank today. :-)

I know. Out of the hand full of people I've told; only two have taken it seriously. The rest just didn't get it, or thought I was crazy.

[Hot Tabasco]

For the time it would take me to examine every nickle and penny in my giant jar to find any real copper or nickel ones, I could go out and shovel two driveways and come out ahead...........

[mojitojoe]

Yea, me too. :(

[eyedigress]

Phelps-Dodge in the mid nineties was the place to invest. They own the Arizona copper industry and many mines were closed at the time. I’ll bet they have done well in the last 15 years.

[Publius]

I believe they were bought out by Freeport-McMoran some years ago.