Silver4face wrote:I felt compelled to revive this old thread because a lot has changed since the last post which was three years ago. Melt values of both the Jefferson and the .999 nickels have gone up significantly. Melt value of a Jefferson is now almost 8 cents while the Melt value of a .999 is now 15 cents. Also, .999 nickels were scarce three years ago, but are much scarcer now. Meanwhile, here in the U.S., you have banks ACTIVELY participating in the so called coin shortage. Therefore, you have people hoarding large quantities without any preference either way. You can go to a bank and invest a 20 bill and instantly have 400 Jeffersons in a few minutes. Would take a long time to accumulate 400 .999 nickels. As for me, I would prefer buying .999 for face (obviously!), but Jeffersons are much more practical. Also I am wondering if the poll should be reopened.
JerrySpringer wrote: I don't what it is, but the fact that these base metal coins are a screaming hoarder bargain doesn't exactly not bother me. Maybe it is because people see real estate and crypto as the things to chase du jour. I am bothered that if some tik tok generation influencer starts blabbing about copper and nickel being where it is at, that will create a bank run of ruinous results.
frugi wrote:I was actively buying over a 1000 dollars a month in canadian .999 nickels from a dealer in the midwest and reselling them on ebay for 5x my investment. I was selling them here too to several long time friends/members. the bottom fell out while i still was holding a bunch. i probably still have several thousand dollars in canadian nickels. i have piles of .999 and also all those I sorted out that were not .999 nickel, i never sold any of those, just pile em up, i probably have several hundred pounds of wartime steel. The deal i had with the guy was I was buying his leftovers after he pulled out all the King George V, and earlier. He sold me everything else, which frequently was pre1981, so for the most part I rarely had to sort any of it, and the only reason i did was to seperate out the King VI's, young queens, old queens, steelies, etc. That is all in my past. I no longer have a relationship with that dealer. I was buying cents and nickels from him, he was a national dealer, and our relationship lasted a good 15-20 years before he caught on and realized what I was doing. He still deals in major volume, but now he sells all that canadian cents and nickels online himself, he cut me off around 2021. Pity actually. But is what it is. No worries. Ive moved on to bigger and better things and honestly I have not time for sorting anymore and nowhere to put it all. Im stuffed to the rafters.
frugi wrote:I was actively buying over a 1000 dollars a month in canadian .999 nickels from a dealer in the midwest and reselling them on ebay for 5x my investment. I was selling them here too to several long time friends/members. the bottom fell out while i still was holding a bunch. i probably still have several thousand dollars in canadian nickels. i have piles of .999 and also all those I sorted out that were not .999 nickel, i never sold any of those, just pile em up, i probably have several hundred pounds of wartime steel. The deal i had with the guy was I was buying his leftovers after he pulled out all the King George V, and earlier. He sold me everything else, which frequently was pre1981, so for the most part I rarely had to sort any of it, and the only reason i did was to seperate out the King VI's, young queens, old queens, steelies, etc. That is all in my past. I no longer have a relationship with that dealer. I was buying cents and nickels from him, he was a national dealer, and our relationship lasted a good 15-20 years before he caught on and realized what I was doing. He still deals in major volume, but now he sells all that canadian cents and nickels online himself, he cut me off around 2021. Pity actually. But is what it is. No worries. Ive moved on to bigger and better things and honestly I have not time for sorting anymore and nowhere to put it all. Im stuffed to the rafters.
Cu Penny Hoarder wrote:The same thing happened to me buying older foreign copper coins. I have about 75bs of old British and Mexican coppers... all culled from LCS junk bins.
Doctor Steuss wrote:Cu Penny Hoarder wrote:The same thing happened to me buying older foreign copper coins. I have about 75bs of old British and Mexican coppers... all culled from LCS junk bins.
I love those old (big) British coppers. Such beautiful coins.
Cu Penny Hoarder wrote:frugi wrote:I was actively buying over a 1000 dollars a month in canadian .999 nickels from a dealer in the midwest and reselling them on ebay for 5x my investment. I was selling them here too to several long time friends/members. the bottom fell out while i still was holding a bunch. i probably still have several thousand dollars in canadian nickels. i have piles of .999 and also all those I sorted out that were not .999 nickel, i never sold any of those, just pile em up, i probably have several hundred pounds of wartime steel. The deal i had with the guy was I was buying his leftovers after he pulled out all the King George V, and earlier. He sold me everything else, which frequently was pre1981, so for the most part I rarely had to sort any of it, and the only reason i did was to seperate out the King VI's, young queens, old queens, steelies, etc. That is all in my past. I no longer have a relationship with that dealer. I was buying cents and nickels from him, he was a national dealer, and our relationship lasted a good 15-20 years before he caught on and realized what I was doing. He still deals in major volume, but now he sells all that canadian cents and nickels online himself, he cut me off around 2021. Pity actually. But is what it is. No worries. Ive moved on to bigger and better things and honestly I have not time for sorting anymore and nowhere to put it all. Im stuffed to the rafters.
My local LCS guy did the same thing to me. I wasn't buying .999 Ca nickels in your size, but it definitely sucks when your LCS cuts
long-time customer relationship in order to squeeze out every penny of profit he can from others. That's just business I guess.
The same thing happened to me buying older foreign copper coins. I have about 75bs of old British and Mexican coppers... all culled from LCS junk bins.
Recyclersteve wrote:frugi wrote:I was actively buying over a 1000 dollars a month in canadian .999 nickels from a dealer in the midwest and reselling them on ebay for 5x my investment. I was selling them here too to several long time friends/members. the bottom fell out while i still was holding a bunch. i probably still have several thousand dollars in canadian nickels. i have piles of .999 and also all those I sorted out that were not .999 nickel, i never sold any of those, just pile em up, i probably have several hundred pounds of wartime steel. The deal i had with the guy was I was buying his leftovers after he pulled out all the King George V, and earlier. He sold me everything else, which frequently was pre1981, so for the most part I rarely had to sort any of it, and the only reason i did was to seperate out the King VI's, young queens, old queens, steelies, etc. That is all in my past. I no longer have a relationship with that dealer. I was buying cents and nickels from him, he was a national dealer, and our relationship lasted a good 15-20 years before he caught on and realized what I was doing. He still deals in major volume, but now he sells all that canadian cents and nickels online himself, he cut me off around 2021. Pity actually. But is what it is. No worries. Ive moved on to bigger and better things and honestly I have not time for sorting anymore and nowhere to put it all. Im stuffed to the rafters.
Frugi:
What year(s) were you buying and what were you paying back then?
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