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Why You Need to Own Nickels, Right Now
Economic Policy Journal ^
| 2-6-2011
| Robert Wenzel
Posted on 02/06/2011 4:25:44 PM PST by blam
click here to read article
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; bigheadfred; ColdOne; ...
Robert Wenzel: Back at the commodity level, copper is the latest to hit a record at $8,966 a ton... At some point, nickels, which are mostly made of copper, will start to disappear from circulation. There's right now 6.2 cents worth of metal in a nickel [Note the value is now up to 7.2 cents.-RW].
:') Thanks blam. What we need in the White House is another FDR, who'd call in all the nickels.
21
posted on
02/06/2011 5:06:50 PM PST
by
SunkenCiv
(The 2nd Amendment follows right behind the 1st because some people are hard of hearing.)
To: SunkenCiv
"What we need in the White House is another FDR, who'd call in all the nickels" Yup. The one we have just accumulates idiots.
22
posted on
02/06/2011 5:08:42 PM PST
by
blam
To: Oatka
Yeah, dammit. If this goes viral it will be sooner than expected. I was hoping to have a few more months of quiet accumulation.To say I'm displeased with this posting is putting it lightly.
23
posted on
02/06/2011 5:08:50 PM PST
by
CommieCutter
(I'll get an internet ID when Obama shows his birth certificate.)
To: spokeshave
"Why bother with a wheelbarrow when you can buy the copper ETF COPX. I think you've missed the whole point of the article.
24
posted on
02/06/2011 5:09:32 PM PST
by
blam
To: Blood of Tyrants
They are mostly made of zinc
25
posted on
02/06/2011 5:16:23 PM PST
by
When do we get liberated?
(A socialist is a communist who realizes he must suck at the tit of Capitalism.)
26
posted on
02/06/2011 5:17:49 PM PST
by
SunkenCiv
(The 2nd Amendment follows right behind the 1st because some people are hard of hearing.)
To: blam
Is this article saying to buy current-issue nickels or silver nickels from the pre-junk coin era?
27
posted on
02/06/2011 5:23:59 PM PST
by
tbw2
(Freeper sci-fi - "Sirat: Through the Fires of Hell" - on amazon.com)
To: tbw2
To: blam
Only problem is it is a federal crime to melt nickles.
To: blam
Barney Miller — “The Child Stealers” — Season 6, Episode 15 — Thursday January 24, 1980 — “A self-proclaimed time traveler tells Harris to fine tune his stock portfolio”
http://www.tv.com/barney-miller/the-child-stealers/episode/4197/summary.html
The time traveler told Harris that a huge future precious metals strike destroyed their market value, and the entire world switched to a zinc standard, so Harris calls his broker and springs for a couple of tons. :’)
30
posted on
02/06/2011 5:32:11 PM PST
by
SunkenCiv
(The 2nd Amendment follows right behind the 1st because some people are hard of hearing.)
To: When do we get liberated?
The ones made after 1981 are. The earlier onesa re copper.
31
posted on
02/06/2011 5:43:17 PM PST
by
Blood of Tyrants
(Islam is the religion of Satan and Mohammed was his minion.)
To: Mrs. B.S. Roberts
32
posted on
02/06/2011 5:53:21 PM PST
by
Bloody Sam Roberts
(Tyrants flourish only when they achieve a standing army, an enslaved press, and a disarmed populace.)
To: tbw2
Is this article saying to buy current-issue nickels or silver nickels from the pre-junk coin era?Nickels were never silver, always nickel. Hence, larger than the silver dime for half the value (a less valuable metal.)
To: jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...
To: SunkenCiv
Ok, I’ve worked the math out based on the latest spot prices for copper and nickel and the US Mint’s formulation for nickels at 25% nickel and 75% copper. I cleaned out my change drawer and weighed 35 nickels on a kitchen scale. The results:
35 nickels weighed 6.1 oz or 0.0109 lb
Scrap Copper at $4.5666 per lb
Scrap nickel at $12.7896 per lb
$4.5666 * 0.0109 * 75% = 3.73 cents copper
$12.7896 * 0.0109 * 25% = 3.49 cents nickel
= about 7.2 cents total per coin
35
posted on
02/06/2011 5:58:37 PM PST
by
PeatownPaul
(Engineer's moto: It's working, let's fix it)
To: joinedafterattack
Only problem is it is a federal crime to melt nickles.Not in Canada, Mexico, Cayman Islands, Bahamas, etc. etc. (?)
36
posted on
02/06/2011 6:01:27 PM PST
by
Zeppo
("Happy Pony is on - and I'm NOT missing Happy Pony")
To: blam
37
posted on
02/06/2011 6:10:20 PM PST
by
WOBBLY BOB
( "I don't want the majority if we don't stand for something"- Jim Demint)
To: Onelifetogive
Nickels were never silver, always nickel. Not totally true. 'Wartime nickles' minted 42-45 are 35% silver.
To: blam; Big Giant Air Head
Ping for the poor man’s investing. :)
39
posted on
02/06/2011 6:15:29 PM PST
by
Marie Antoinette
(Proud Clinton-hater since 1998.)
To: Presbyterian Reporter
During 1942-1945, the US had silver nickles.
From mid-1942 to 1945, so-called Wartime composition nickels were created. These coins are 56% copper, 35% silver and 9% manganese.
40
posted on
02/06/2011 6:15:46 PM PST
by
packrat35
(America is rapidly becoming a police state that East Germany could be proud of!)
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