Bitcoin Forum
December 05, 2016, 08:40:38 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Great metals play: a nickel is now worth over six cents in metal content  (Read 1133 times)
thesum
Newbie
*
Offline Offline

Activity: 18


View Profile
August 19, 2011, 01:01:44 PM
 #1

A nickel is now worth over six cents and will probably soon be made out of zinc.  Right now they're 25% nickel and 75% copper.  Collecting nickels is a great way to save with no financial risk since a nickel will always be worth at least a nickel.  I've started to collect them, getting a few rolls every time I go to the bank.  I figure it's like making a 20% profit on every roll I buy.  The downside is figuring out where to keep them all.
1480927238
Hero Member
*
Offline Offline

Posts: 1480927238

View Profile Personal Message (Offline)

Ignore
1480927238
Reply with quote  #2

1480927238
Report to moderator
1480927238
Hero Member
*
Offline Offline

Posts: 1480927238

View Profile Personal Message (Offline)

Ignore
1480927238
Reply with quote  #2

1480927238
Report to moderator
I HATE TABLES I HATE TABLES I HA(╯°□°)╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480927238
Hero Member
*
Offline Offline

Posts: 1480927238

View Profile Personal Message (Offline)

Ignore
1480927238
Reply with quote  #2

1480927238
Report to moderator
1480927238
Hero Member
*
Offline Offline

Posts: 1480927238

View Profile Personal Message (Offline)

Ignore
1480927238
Reply with quote  #2

1480927238
Report to moderator
1480927238
Hero Member
*
Offline Offline

Posts: 1480927238

View Profile Personal Message (Offline)

Ignore
1480927238
Reply with quote  #2

1480927238
Report to moderator
AyeYo
Full Member
***
Offline Offline

Activity: 154


View Profile
August 19, 2011, 01:16:21 PM
 #2

A nickel is now worth over six cents and will probably soon be made out of zinc.  Right now they're 25% nickel and 75% copper.  Collecting nickels is a great way to save with no financial risk since a nickel will always be worth at least a nickel.  I've started to collect them, getting a few rolls every time I go to the bank.  I figure it's like making a 20% profit on every roll I buy.  The downside is figuring out where to keep them all.


I nickle weighs 5 grams.  So you need to transport and store 5 grams for every penny that you make.  Have you actually done the math on this one?

To make $100, you need to buy and transport a little over 100lbs. of nickles.  That is, of course, assuming you can actually find someone to pay you 6 cents for them.  Let me know when you even get that far.

Enjoying the dose of reality or getting a laugh out of my posts? Feel free to toss me a penny or two, everyone else seems to be doing it! 1Kn8NqvbCC83zpvBsKMtu4sjso5PjrQEu1
TheGer
Hero Member
*****
Offline Offline

Activity: 490



View Profile
August 19, 2011, 03:13:54 PM
 #3

The point is having a currency that is maintains value, whether it be as a coin or in melt value.  I keep all my nickels with copper/nickel content, and snatch up any silver content I come across.  You'd be surprised what you come across if you know what to look for.
Fakeman
Full Member
***
Offline Offline

Activity: 154



View Profile
August 19, 2011, 05:45:58 PM
 #4

Look out for pre-1982 Canadian nickels too, they are nearly pure nickel so the metal value is much higher. Then there are the silver US war nickels. US CuNi nickels don't really trade at much of a a premium currently because they can be obtained at face value and can't legally be melted in the US or exported in large quantities. I do know of one site that sells US nickels by the ton for a small premium though. Copper pennies do trade at a premium in spite of the melt and export ban, partly because it takes work to sort them out. Some do it by hand and some use machines.

16wEsax3GGvJmjiXCMQUWeHdgyDG5DXa2W
thesum
Newbie
*
Offline Offline

Activity: 18


View Profile
August 19, 2011, 10:25:52 PM
 #5

A nickel is now worth over six cents and will probably soon be made out of zinc.  Right now they're 25% nickel and 75% copper.  Collecting nickels is a great way to save with no financial risk since a nickel will always be worth at least a nickel.  I've started to collect them, getting a few rolls every time I go to the bank.  I figure it's like making a 20% profit on every roll I buy.  The downside is figuring out where to keep them all.


I nickle weighs 5 grams.  So you need to transport and store 5 grams for every penny that you make.  Have you actually done the math on this one?

To make $100, you need to buy and transport a little over 100lbs. of nickles.  That is, of course, assuming you can actually find someone to pay you 6 cents for them.  Let me know when you even get that far.

That's if their value stays the same as now.  If the nickels start getting made out of zinc, then the old nickels could probably be sold for ten cents shortly thereafter.  I do agree with you on the transportation and storage though, that is the downside for sure.
The Script
Sr. Member
****
Offline Offline

Activity: 336



View Profile
August 19, 2011, 11:13:33 PM
 #6

A nickel is now worth over six cents and will probably soon be made out of zinc.  Right now they're 25% nickel and 75% copper.  Collecting nickels is a great way to save with no financial risk since a nickel will always be worth at least a nickel.  I've started to collect them, getting a few rolls every time I go to the bank.  I figure it's like making a 20% profit on every roll I buy.  The downside is figuring out where to keep them all.

This is interesting, but I'm not sure about the cost effectiveness of it.  Plus as you state, where to keep them all?
onesalt
Sr. Member
****
Offline Offline

Activity: 308


View Profile
August 20, 2011, 05:10:40 PM
 #7

A nickel is worth 6 cents of nickel, if it was pure nickel The cost of extracting the nickel from a nickel what with all the impurities is going to make the effective worth of a nickel more like 4 cents anyway, and you'd be lucky to get 2 cents or so from a scrap dealer, since scrap dealers also want to make a profit too.
AyeYo
Full Member
***
Offline Offline

Activity: 154


View Profile
August 20, 2011, 05:16:32 PM
 #8

A nickel is worth 6 cents of nickel, if it was pure nickel The cost of extracting the nickel from a nickel what with all the impurities is going to make the effective worth of a nickel more like 4 cents anyway, and you'd be lucky to get 2 cents or so from a scrap dealer, since scrap dealers also want to make a profit too.


WHAT DO YOU MEAN I CAN'T GET SPOT PRICE FOR MY METALS???!?!??!?!?!??!

Enjoying the dose of reality or getting a laugh out of my posts? Feel free to toss me a penny or two, everyone else seems to be doing it! 1Kn8NqvbCC83zpvBsKMtu4sjso5PjrQEu1
ElectricMucus
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
August 20, 2011, 05:20:41 PM
 #9

If you think the crash will gonna be this bad that you can successfully sell nickels for scrap metal you'd rather stock up on food.
Seriously buying industrial metals for hoarding without any incentive for using them for production is beyond stupid  Roll Eyes

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
Adam
Member
**
Offline Offline

Activity: 84


View Profile
August 20, 2011, 05:22:44 PM
 #10

It's illegal to melt down nickels in the US or to export them for that purpose.  So not only would it be a big hassle but if you could find someone to do it you'd probably get caught before making any serious money.


Fakeman
Full Member
***
Offline Offline

Activity: 154



View Profile
August 21, 2011, 04:26:04 AM
 #11

A nickel is worth 6 cents of nickel, if it was pure nickel
You don't have your facts straight, the spot value of 5 grams of pure nickel would be more like 10.6 cents at current prices. The 75% copper component actually makes up more of the metal value of a US nickel than the Ni component does currently.
Quote
The cost of extracting the nickel from a nickel what with all the impurities is going to make the effective worth of a nickel more like 4 cents anyway, and you'd be lucky to get 2 cents or so from a scrap dealer, since scrap dealers also want to make a profit too.
You're assuming that the component metals would need to be separated, but cupronickel alloys are good for more than just coins, particularly for corrosion resistance in marine applications. The coins don't have to be melted to use them as a store of value either. I still don't really save US nickels myself, because I'd rather sort for coins that already trade over face value.

16wEsax3GGvJmjiXCMQUWeHdgyDG5DXa2W
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!