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Save Your Nickels

"Unlike US dimes and quarters, which stopped being made of 90% silver after 1964, the composition of a nickel has essentially been unchanged since the end of World War II. It is still a 5 gram coin that is an alloy of 75% copper and 25% nickel. (An aside: Some 1942 to 1945 five cent coins were made with 35% silver, because nickel was badly-needed for wartime industrial use. Those "War Nickels" have long since been culled from circulation, by collectors.) According to www.Coinflation.com, the 1946–2008 Nickel (with a 5 cent face value) recently had a base metal value of $0.0677413. That was 135.48% of its face value. (In recent months, with the recession, and a decline in industrial demand for copper, the base metal value of a nickel has dropped. But even at today's commodities prices, you will start out with a 10% gain by amassing a stockpile of nickels.)"

http://www.lewrockwell.com/orig10/rawles1.1.1.html



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nickels *ARE* a copper standard!!!

That's right folks. They are backed by 100% metal. That's 75% copper and 25% nickel.

aside from a few other specifically dated coins, the Nickel is the only U.S. currency that is unwittingly backed by the metal it was supposed to represent.

A few months ago nickels were worth 6 cents, today it is just under 5.

Great article. Thank you! I will be trading in my paper notes for real money.

Looked up on wiki

Metal value
The market price of nickel surged throughout 2006 and the early months of 2007; as of April 5, 2007, the metal was trading at 52,300 USD/tonne or 1.47 USD/oz.[37] The price subsequently fell dramatically from these peaks, and as of 19 January 2009 the metal was trading at 10,880 USD/tonne.[37]

The US nickel coin contains 0.04 oz (1.25 g) of nickel, which at the April 2007 price was worth 6.5 cents, along with 3.75 grams of copper worth about 3 cents, making the metal value over 9 cents. Since the face value of a nickel is 5 cents, this made it an attractive target for melting by people wanting to sell the metals at a profit. However, the United States Mint, in anticipation of this practice, implemented new interim rules on December 14, 2006, subject to public comment for 30 days, which criminalize the melting and export of cents and nickels.[38] Violators can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years.

As of June 24, 2009 the melt value of a U.S. nickel is $0.0363145 which is less than the face value.[39]

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RE: And as of today...

$0.0483375 still less then a Nickel so we are still loosing value on it. Thinking of these lines, if it is less then $0.05 then why would one want to melt them down as others have suggested? Either way you are still out... Kinda like when I got the idea to start buying silver rounds. Time ya paid a couple $$ over spot you were in anywhere from $18-$22 per round.If Spot on silver is around $14.00 time you get a buck or two less then what it is worth on spot for, you would really have to be getting them for around $10 to be "getting ahead" and even then your dollars values deflates daily so I don't see how this does any good in investing in silver either in nickel form or rounds. Am I just missing the boat completely on this or what?

If I had a foundry, I could be rich as long as I was willing ...

to break the law and risk 5 years inprisonment.

A penny is worth about 2 pennies in pure copper in the open market.

Huge margins if you are willing to risk going to jail for money.

For freedom, yes. For money, no.

WAHOR!!
http://www.dailypaul.com/node/48994

Great article

I just started my nickel hoard thanks to this article. It's only a matter of time before they water down the nickel so might as well get it now at face value. A $1000 face bag of nickels should be sufficient. Should be interesting to see all the pre-'10 nickels disappear from circulation overnight when they do water it down.

Thanks, save

the nickel foundation. LOL

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Don't forget the pennies...

I've saved pennies and nickels for quite a little while. I buy pennies from the "need-a-penny/take-a-penny" dishes at markets.

(End of the train of thought: I am wondering about these companies that offer to buy "unused/unwanted gold." Should they soon be offering to buy pennies and nickels?)