16 votes

Is anybody else collecting Nickels and Pre-1982 Pennies

So we all know that a copper penny is worth 3 cents and that a Nickel is worth 7. This is a side effect from the massive inflationiary policies of the Federal Reserve.

Is anybody else besides me collecting/hoarding these coins? If we get into hyperinflation (which we will), these coins could ends up being like their big brothers, the pre 1964 dime and Kennedy half dollar where they are worth 2000% of face value.

Every week I go to the bank to deposit my check from work I ask for 2 rolls of pennies and 2 rolls of nickels.

Is anybody else doing this?




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Does anyone else search for error coins?

I keep all pre-82's, but I also look for a handful of rare dates and errors while I'm at it. Has anyone else had any luck in this area?

Tu ne cede malis sed contra audentior ito

I drill holes in them

and use them for washers. A washer the size of a penny costs 10 cents at Home Depot.

Wow never thought of that.

Wow never thought of that.

Southern Agrarian

I was thinking today how

I was thinking today how obvious it is to collect these right now. Do you think people in 1964 were worried about hoarding silver quarters or they just said, "neh there will always be some in circulation." Well no there won't be. Look at Canada, they got rid of their mostly steel penny. That is an entire coin wiped out of the market. It is hard to comprehend sometimes because currency notes have a long lifespan, meaning, you have to wait several years before your current actions pay off or you notice any returns on it. Start collecting them now.

Southern Agrarian

It's really not a very

It's really not a very profitable enterprise unless you can amass hundreds of pounds of the stuff.

I have done this over the years on a low level

but have recently ramped up... especially with nickels. My
understanding is that for every $1.00 of nickels, there is
now $1.42 (approx.) of metal value. I heard that right
after new year we might hear some news regarding a new
nickle or a decirculation.

I just go to the grocery store every week and ask them to
change my $10 for nickel rolls. You can do the same at a
bank.

This may or may not pay off as an "investment" but if it
does not, you have not lost anything but the opportunity
to spend it. You still have every nickel you ever put
into this investment! lol

What do you do with all the

What do you do with all the 1983+ pennies? Don't they really add up?

End The Fed!
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Melt value. Some pennies have numismatic value, also.

1909-1982 100 pennies =$2.45 melt value.
http://www.coinflation.com/coins/basemetal_calc.php

1983-2012 100 pennies. = $0.57
http://www.coinflation.com/coins/basemetal_calc.php

Metals are money, paper is just a promise.

Free includes debt-free!

Just the pennies. I can't afford to collect nickels right now.

BTW 1943-45 nickels are 35% silver.

Some 1982 pennies are copper and some are zinc. You can usually tell by looking at them.

I saw the best minds of my generation, destroyed by pandas starving hysterical naked

-Allen Ginsberg

I have about 300 pre-1982

I have about 300 pre-1982 pennies and I need more tubes to hold the 15 or so I have in my coin dish. Search your change!

Southern Agrarian

So the legal premise

is that we'd be waiting for the coinage to become not-currency by legislative fiat. Then we could trade it as bulk metal. As scrap. But in all likelihood the gubmint will order it's surrender for trade in whatever e-bucks thing they'll conjure up.

As far as copper goes we can just melt it down and cast it into all kinds of useful things like...bullets but nickels? If memory serves they are like 70% copper which is a pretty common alloy and I know there's a market for it but I wonder where exactly that is or how to access it. Scrap dealers won't want to take it in coin or ingot form at it's minted alloy. However it would be easy to offset that alloy with more scrap copper. And casting sculpture or other ornaments is a possibility.

Get your preps together! Learn historic food storage and preservation methods and the science that makes them work now, start saving money and the future

Nice

Im all for saving Pennies and nickels. If interested here is a blog post and youtube video I made on the topic. I hope its useful. http://surviveourcollapse.com/saving-pre-1982-copper-pennies... Saving silver is important as well!

Here is a dumb question . . .

Let's say I go through my coins and sort them by year. Where do I take them to get this melt value? Isn't it illegal to destroy currency (I guess that is kind of an ironic law?)
I went to coinflation website but still do not understand how to actually get the money from the coins.

LivingTheDream

It's illegal to alter the face value to a higher amount

for the purpose of fraud.

Otherwise you can do whatever you like to your coins, buy old dimes for 'melt' value on ebay, or write whatever you want on currency (as long as it isn't a zero after the number). http://www.kcmo.org/police/Crime/Forgery/CounterfeitMoney/in...

wanna have some fun? Get a rubber stamp made that says Sample - Not for Circulation and stamp all your money with it...

I saw the best minds of my generation, destroyed by pandas starving hysterical naked

-Allen Ginsberg

Sample - Not for Circulation

Awesome!

Andrew Napolitano for President 2016!
http://andrewnapolitano.com/index

"Patriotism should come from loving thy neighbor, not from worshiping Graven images." - ironman77

Time and patience required

Sooner or later these coins will no longer circulate, just as silver coins no longer do. Gresham's law

When that happens they will then be worth their metal, as opposed to face value.

Could be awhile, or could be pretty quick if FRNs experience Weimar or Zimbabwe style debasement.

No need to melt them down.

No need to melt them down. They're already denominated in a standardized mass.

The beauty is you can buy them for face value in FRNs, as opposed to commodity value.

If you're going to hoard them, do it now before the government starts rotating out the old pennies and melting them down to sell to China. (Am I falsely assuming they're not already doing this?)

An absolutely perfect assessment...

Why else would we be using plastic "money" these days? One of the many comparisons we can draw between the U.S. and Rome, is the devaluation of its currency. Rome lost control of its empire and over spending, and it to would call in and reissue coins to get the attention of the people. The money went from solid gold/silver, to 90% gold/silver, and on down the line until the money was worthless.

Isn't it in "Where the Red Fern Grows", that the little boy sets racoon traps by finding a hole in the log, putting a shiny quarter in it, and then driving nails at an angle around the hole. Raccoons seemingly like shiny objects and will grab hold and not let go, and the nails keep them from getting their hands out.

Long story short..Americans love shiny things and "change". Most don't have a clue to this racket, just as in Rome. Keep them occupied and do what you wish with their wealth.

we know that eventually they will change

The make-up of the nickel and when they do, a market for nickel bullion will likely develop, I think slowly depending on scarcity of pure nickel bullion.
I have been saving pennies and nickels for about a year. I think it is smart as these coins could eventually demand a high return measured in frn's. And if nothing ever happens in the "nickel market" you will have, at the very least, been saving money. I say it can't do any harm to save them.

I'd rather have a bottle in front o' me than a frontal lobotomy
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YES it is illegal...

$10,000 fine and 5 years in JAIL. LOOK! And you can't take them out of the country!!
http://www.usmint.gov/pressroom/index.cfm?action=press_relea...

Odd

They state that their regs make it illegal, yet do not provide the statute that makes it illegal.

there is no law!

the mint wrote on their website not to destroy coinage - but the LAW only states that you cannot deface with intent to defraud..meaning, you cant stamp a 50c piece w/ a $1 and try to pass it off.

when you go to your 'state run' zoo, and put pennies in that little machine that crushes them & stamps an animal or logo into them...well, that is because there is no law!!

you can sell them on ebay by the bag as well, if you do not have the means to smelt them & scrap the bars...

Thank you for your reply!

I will start sorting by year and see what I come up with.

LivingTheDream

Yeppers:

Been collecting them both for years.
I even have a digital scale so I can determine which 82 pennies are copper, and which aren't because they switch it mid year.
I also have the bank order me in two dollar bills to pass around just to get conversations started.

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

I have been looking for

I have been looking for digital scales that were sensitive enough to determine the difference between copper and non-copper pennies and could no find anything sensitive enough at a reasonable price. Do you have a lead as to where I could find such a scale at a reasonable price, say around $20?

It is better to look dumb and not be, than to look smart and not be.

Gotcha:

http://www.usbalance.com/

I know there are other manufacturers, but this is what I have (USN-150) model and I have been pleased. I use it for jewelry and other things also.
If I remember correctly, I snagged this new on ebay pretty cheap.

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

Hey Thanks!

I saved the 1982 pennies, now I know how to sort them!

The wheaties may even have numismatic value beyond melt value.

Free includes debt-free!

Yep

ask for all change in nickles.
sort through all the pennies.
stop by the bank every so often and pick up $100 box of nickles.

Yup!!!

Got my friends on it too, even published an article:

http://freeindependentsun.com/permanomics/permanomic-change-...

I get about half-a-dozen direct searches per months for this article ("how to sort coins for metal" - "how to sort change for metal"). People want to know.

Jack Wagner

Absolutely!

Not so much to get rich, but for educational reasons. Whenever I pay for something with cash and ask for all the change in nickels, it inevitably starts a conversation that makes the cashier go "hmmm..."