What are the value of pennies, nickels, dimes and quarters currently on the market!
Submitted by iehuvihs on Wed, 02/13/2008 - 11:58
There has been a lot of people talking about buying gold and silver as an investment, but if hyperinflation occurs in the country, at what point does it become practical to save common coins in circulation currently.
I believe pennies are made out of zinc, correct me if I'm wrong, but how many pennies does it take to make a dollars worth of zinc.
It could be that these would be a wise investment for those who don't have conditions to invest in silver and gold! Just doing my research.
grant
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Here is a related thread you
Here is a related thread you may find helpful:
http://www.dailypaul.com/node/30439
A helpful tool for any new people looking for tips is to click 'Search' above and try a few keywords where Google scans dailypaul.com. Threads on many of the same things come up over and over, not that I mind at all, but helpful information is accumulating.
Old pennies
Old pennies have more copper in them then 1 cents. They are the best save, however, unless we have deflation, a person could not carry that many pennies to the store and the store would not take them.
As for the other coins - did you read the post about Argentina and the economic collaspe there? The title of the post was "Economic Collapse of Argentina and how we can prepare." It's a good read. It's on Daily Paul somewhere.
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I am saving regular coins as a hedge. I think we are headed towards a deflationary period (= a contraction of the money supply). Think about it. Most of our "wealth" is electronic, marks in a bank account. The bank doesn' t really have all those dollars in the safe. So, it seems to me that keeping a "stockpile" of coins and maybe even paper dollars would put a person in a better position to barter than the next guy who has no coins or paper dollars. Read the Argentina post - even though the currency became almost worthless - the people still continued using the currency for barter because there was nothing else to use. So, this means we have to be the people who have some of the currency on hand.
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If the SHTF the currency on hand in the banks won't last long. Sure, the Feds can just print more, but minting new coins would take a while. Of course, nobody knows what is going to happen, but keeping a 3 month supply of coins wouldn't be a bad idea. Of course, this would only work if you were debt free.
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Are you debt free? That is the first step. Get out of their system. Every dollar of debt a person has is supporting their system. It's buying into the fractional reserve. We don't want to do that.
Mercury dimes are good for
Mercury dimes are good for emergency money.
90% silver.
You get too, more 'bang' for your bag full of silver. $50. or so for 50 dimes.
Silver or Gold...
With Gold hovering around 900.00 per ounce... I have found Silver to be the affordable alternative and am currently buying my Silver Eagles ( 1 dollar coins 99.9%, one ounce) at below the market spot price... Here is where I secure my inflation free coins... http://cegsilver.com
http://myspace.com/victorygardener
eh?
this site provides no information till you sign up. Umm no.
Funny
Like 40 years ago, my father bought a thousand dollars worth of pennies for this purpose. They're all in bags in storage. I think the older pennies had more copper in them. The new pennies are only like 2% copper.
Then they are worth 3,000 dollars today..
if they are 40 years old.
Wheat pennies are worth 3 cents.
www.coinflation.com it's
www.coinflation.com
it's specifically illegal to melt the coins... and if in order to make a profit, you'd have to have economies of scale where they'd probably catch you.
Like... if you walk into a bank and ask for $1,000,000 in nickles... they probably report you somewhere.
Who gives a shit if THEY
Who gives a shit if THEY did. Where did people's balls go? Have some guts when you do things. Stand tall!
Puppets come and puppets go but the world's stage is getting cluttered.
pick your battles.
it's be a shame if I wasn't around to help the freedom movement for a few years just cause I'm locked up for trying to make a few grand melting nickels.
Coinflation.com
Find out at: http://www.coinflation.com
(metals prices based on http://www.kitco.com )
If you are not OUTRAGED, you're not paying attention!
Great question. I am one of
Great question. I am one of those people.
Mathew 5:9 Blessed are the peacemakers: for they shall be called the children of God.