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So I just accumulated about 225.00 in nickels, thinking about selling 1/2 of them back to the bank and buying junk silver and 1 oz rounds. Good idea or bad idea....just want to hear some thoughts

depends, pre60 you can sell on ebay for more then face, even if they're common dates. the rest of them (baring no indians or anything else with some numi value), yep hawk em back into the mix buy some silver for a decent price, start rebuilding your nickels.

I would keep them for now and build your cash reserve with nickels. They are the only real money we have currently being made and are basically worth face. Can't lose anything. Silver is a good choice as well, but there and up and down issue. With nickels, they can't go below what you get them for. All different thoughts on this subject

The US is still minting nickels.

For as long as the US is still willing to accept losses creating nickels, they will not be worth much. If any government is willing to take a 100% to 1000% loss on manufacture, then it will have a difficult time overcoming that value. Currently, the US is speding 11.2 cents to make a nickel, but the important thing to know is that the US is still making them (even at over 100% loss)

http://www.govtrack.us/congress/bills/113/hr1719

Until the US debases or stops circulation, a nickel will probably not be worth more than 5 cents. The day that they stop making them is pretty much the day you want to grab as many as you can. If Canada is any indicator, you have about 11 months from the day they stopped making pennies to the day that they stopped circulating (May 4, 2012 to Feb 4, 2013).

So if you want to go all-in on nickels, its a reasonable strategy to wait until they are debased.

Its also a reasonable strategy to just give up on the 1% interest at the bank, assuming that they will probably be charging $10 to $13 "delivery fee" on a box of nickels or pennies soon if they do not debase.

Although unlikely in the US, you can always ask if a local coin dealer will do or prefers to do coin swaps. Copper pennies at some small premium and/or nickels at face for silver. Many smaller coin dealers will prefer a nice roll of pennies over a $1 bill.

Yes, but if you just hold now, no need to sort or hope maybe to get nickels. Sorting is a pain

It also depends on how many you want.

If you want 20 million, like Kyle Bass - you might want to get them early because later on there will probably be restrictions lower than one box a week (seems to be the limit in most areas)

If you only plan on getting a few hundred dollars or no more than $2,000 or so (standard small investment) then you can probably wait a little longer.

If I were you and I had the time, I'd sort those nickels, keep all the pre60's, silver, and 2009's and then return the rest and buy silver. Or I'd buy more nickels and wash, rinse, repeat.

+1 What creshka46 said

Yep. It's fine to stay in nickels, but it's even better to keep them working for you.

I look at nickels as a 4X CMA (cover my a**) tool:

1.) If the dollar gets stronger, Great. It's the same as having FRNs so no big deal they just buy more. Call it my cash stash that does way more;

2.) dollar gets weaker from inflation, great. Metals go up in relation, my nickels maintain value;

(edit for typo)

3.) govt gets it's *hit together and starts making them out of stainless, great. The ones I've sorted now have neumismatic value and others will be drawn to the last debased real money in America, increasing demand;

4.) in the unlikely event the economy starts growing again (and I am totally worng) demand will increase the melt value, great. All my nickels are worth more.

Now anyone of these may take time. That's ok, It's a hobby for several generation or until one of the above happen. Oh, and that reminds me, time to buy another box to keep the Cu, Ni, Au, Ag, ratios in line. Like to get some Pb in there too. Enjoy and keep stacking but for the right reasons.

For me nickels are an important part a "weak dollar" strategy mix. They have a low-risk quality that silver and gold cannot match (see johnbrickner's post). Select a minimum level of nickels that you would want in a crisis , $500. . $1000 etc. Any amount above your minimum can be traded in to take advantage of buying opportunities elsewhere.

theo wrote:For me nickels are an important part a "weak dollar" strategy mix. They have a low-risk quality that silver and gold cannot match (see johnbrickner's post). Select a minimum level of nickels that you would want in a crisis , $500. . $1000 etc. Any amount above your minimum can be traded in to take advantage of buying opportunities elsewhere.

agree!

Nothing like moving residences to change your hoarding priorities. My small hoard of about $600 face sorted nickels is going to Maples. Pre 60's, war nicks, my herd of three legged buffs...(JKJKJKJKJK) and my stash of Westward coins are going with me. Apt. dweller. Moving from a first floor, weight not a consideration, to a second floor dwelling. A LOT of copper cents and hand tools are going with me, the nicks can be replaced as long as they're minted.

rickygee wrote:Nothing like moving residences to change your hoarding priorities. My small hoard of about $600 face sorted nickels is going to Maples. Pre 60's, war nicks, my herd of three legged buffs...(JKJKJKJKJK) and my stash of Westward coins are going with me. Apt. dweller. Moving from a first floor, weight not a consideration, to a second floor dwelling. A LOT of copper cents and hand tools are going with me, the nicks can be replaced as long as they're minted.

New to base metal stacking but I am already not looking forward to moving my stack when the time comes.

And to the OP, I think it all depends on your current stack. If you have no silver then ditch the nickels for silver.

theo wrote:For me nickels are an important part a "weak dollar" strategy mix. They have a low-risk quality that silver and gold cannot match (see johnbrickner's post). Select a minimum level of nickels that you would want in a crisis , $500. . $1000 etc. Any amount above your minimum can be traded in to take advantage of buying opportunities elsewhere.

I agree as well. We should all keep some currency/coin for our emergency fund. If you have some in nickels it not only does this but the nickels at least do have intrinsic value. Keep them all before the composition changes and they have to be sorted!

ZenOps wrote:The US is still minting nickels.

For as long as the US is still willing to accept losses creating nickels, they will not be worth much. If any government is willing to take a 100% to 1000% loss on manufacture, then it will have a difficult time overcoming that value. Currently, the US is speding 11.2 cents to make a nickel, but the important thing to know is that the US is still making them (even at over 100% loss)

http://www.govtrack.us/congress/bills/113/hr1719

Until the US debases or stops circulation, a nickel will probably not be worth more than 5 cents. The day that they stop making them is pretty much the day you want to grab as many as you can. If Canada is any indicator, you have about 11 months from the day they stopped making pennies to the day that they stopped circulating (May 4, 2012 to Feb 4, 2013).

So if you want to go all-in on nickels, its a reasonable strategy to wait until they are debased.

Its also a reasonable strategy to just give up on the 1% interest at the bank, assuming that they will probably be charging $10 to $13 "delivery fee" on a box of nickels or pennies soon if they do not debase.

Although unlikely in the US, you can always ask if a local coin dealer will do or prefers to do coin swaps. Copper pennies at some small premium and/or nickels at face for silver. Many smaller coin dealers will prefer a nice roll of pennies over a $1 bill.

Exactly, so keep them all! Change is most likely coming soon. I know they have been tossing it around for a bit, but at least nickels have value now and don't have to be sorted.

Save them all !

buy some of the ones I already have sorted . lol .