| Buying some USA nickles for the intrinsic value. With all this talk of guaranteed money *cough* » LOL Investors Of Trump Tower In Toronto Got Swindled! *cough*
I was reading an article about saving USA nickles since the USA federal reserve will be changing the composition in the new year.
Anyhow, I called the bank of America in Blaine Washington, and they said that they do 95% of their business with Canadians, and I'm more than welcome to come down and get the nickels.
I was thinking of buying 1k worth, and just tossing them in my closet until they are worth more. (kinda like the 60's with the silver coins) Anyhow, my dad thinks it's a stupid idea since that's like 100kg in metal. lol
What do people here think? Even if they go up to like 6-10x face in the next 10years, that's pretty decent.
»www.survivalblog.com/nickels.html
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"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it."-Malcolm X
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 J E F FWhatta Ya Think About Dat?Premium
join:2004-04-01
Kitchener, ON
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| Not likely to go 6-10X face value...currently their "melt" value is less than 5 cents a piece.
Not only that, "melting" the coins is a punishable offence...if you got caught...
Nickel isn't silver - not a precious metal. Most silver coins aren't melted, but held on to by collectors.
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 EUSKill cancerPremium
join:2002-09-10
canada
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| reply to Warez_Zealot
»www.coinflation.com/unitedstates/
Site displays metal value based on market values.
If you go this route of buying and storing *any metals* for wealth protection my only thought would be to not discuss it with anyone.
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 Wolfie00My dog is an elitistPremium
join:2005-03-12
kudos:5 | reply to Warez_Zealot
If you want something with "intrinsic value" that doesn't weigh a ton, you're probably better off with gold. Unless things have changed you can buy and sell gold wafers and bars of various sizes through Bank of Nova Scotia. I have no idea what the gold market is doing these days but the good news is, neither does anyone else!  From the looks of it it's been pretty flat since last fall. |
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EUSKill cancerPremium
join:2002-09-10
canada | Yup, gold is still range bound. |
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 dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | reply to Warez_Zealot
gold is really high right now...not sure if now is the time to buy gold...getting into gold in 2000 would have been a good idea...now, likely not so much.
the price of one ounce of gold 2000-2012:
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EUSKill cancerPremium
join:2002-09-10
canada | But the central banks are buying on the dips because? |
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dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | it really depends on what you are doing with it.
for example, if you buy it at $1690 and sell it the next day at $1700, it might not sound like a big deal to make $10...however, if you bought 1000 ounces, you just made $10,000 in one day, doing nothing more than "shuffling paper"...as well, if you bought it at $1700 and hope to sell it in 5 months for $2000, that is also a pretty large chunk of money.
it wouldn't surprise me to see people buying and selling and riding the small gains to show numerous incremental payouts.
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EUSKill cancerPremium
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1 edit | Trading paper gold (short term) has nothing to do with buying metal for wealth protection (long term) which is what the OP seems to be looking to do.
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dirtyjefferAnons on ignore, but not due to fear.Premium
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London, ON | said by EUS:Fair enough, but trading paper gold (short term) has nothing to do with buying metal for wealth protection (long term) which is what the OP seems to be looking to do.
i don't see $1000 worth of nickels being worth much in 10 years...10 year old nickels today, are still worth a nickel...i am sure there are likely much better ways to "invest" your $1000.
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Wolfie00My dog is an elitistPremium
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kudos:5 | reply to dirtyjeffer
In one sense it's "really high", but I wonder what a technical analyst would make of the fact that, like I said, it's been relatively flat since last fall (2011). |
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dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | no one can predict the future (otherwise we all would have bought $100k in Apple stock 10 years ago)...but i think it could be similar to how people are claiming "peak Apple", in that there is likely a plateau where it reaches its peak value. |
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Wolfie00My dog is an elitistPremium
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kudos:5 | said by dirtyjeffer:but i think it could be similar to how people are claiming "peak Apple", in that there is likely a plateau where it reaches its peak value.
I'd say that's probably the one thing that will NOT happen. Companies can peak, decline, and even fail eventually, but as long as gold remains a measure of monetary value, economic fundamentals will inexorably push it upward. It's just a question of timing, and how it compares to other investments. After it peaked at nearly 800 around 1980 or so, it declined and remained flat for many years and took nearly a quarter of a century to regain that price point. No one wants to be holding the bag in that situation. An investment that returns exactly 0% after 25 years isn't too cool! I'm sure many speculators in the commodities market lost their shirts. OTOH, many got rich just before 1980, and in recent years. |
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Robrr
join:2008-04-19
Mississauga, ON | reply to Warez_Zealot
Coins like all money are very dependent on many different factors.
I'm not sure a change in the composition of the coin would warrant the old coins suddenly/if ever becoming more valuable.
I collect coins out of my change mostly cause I think some of the designs look cool. I don't expect many of them to ever appreciate much in value due to the fact they are circulated coins.
I also am collecting pennies right now because they are going away. I expect that in 50 years, they will have value given they will no longer exist. Not a lot of value, but some.
I'd say if you want to grab a roll or two of coins, go ahead but I wouldn't drop 1k on coinage that likely won't appreciate a huge amount in the while. |
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Wolfie00My dog is an elitistPremium
join:2005-03-12
kudos:5 | I bet none of your pennies are worth as much as this one would be, if you could get to it!
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dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | i have a penny from 1858, but it is in rough shape (it looks like someone tried to drill a hold through it and use it as a "charm"...i don't know how much it is worth, but i'm not planning on using it for my retirement by any means...i just kept it because "it's neat". |
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said by Wolfie00:I'd say that's probably the one thing that will NOT happen. Companies can peak, decline, and even fail eventually, but as long as gold remains a measure of monetary value, economic fundamentals will inexorably push it upward. It's just a question of timing, and how it compares to other investments. After it peaked at nearly 800 around 1980 or so, it declined and remained flat for many years and took nearly a quarter of a century to regain that price point. No one wants to be holding the bag in that situation. An investment that returns exactly 0% after 25 years isn't too cool! I'm sure many speculators in the commodities market lost their shirts. OTOH, many got rich just before 1980, and in recent years. The value of gold is a direct indicator of economic stability. When the economy sucks, gold value goes up. When the economy is booming and there's plenty of credit and money to go around, the value of gold plummets. The value of gold now, and the lead-up to it, were direct results of both the economic mess the entire world is in now, and the fact that most people started to realize the jig was up in 2006-2007. |
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said by EUS:But the central banks are buying on the dips because?
The oil bourse is breaking apart. Iran is dealing in gold exclusively to sell oil to others.
The BRIC are floating the idea of a currency basket excluding the dollar
If/when the petrodollar is no longer needed all currencies may see a sharp revaluation. Gold may be money again that nations trade in.
The people as usual get useless toilet paper called FRN's or CAD.
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EUSKill cancerPremium
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2 edits | China, Japan, Vietnam, Russia, Iran, and a couple more countries I do not recall are already up and running trade that does not require USD to enter the buy/sell transactions at all. Australia has joined.
Confidence in unbacked fiat is decaying quicker than I thought it would.
AUS and CAD have recently been upgraded to reserve currency status. Yet still not backed by anything.
Central banks buying tells me we're no where close to a top in gold (long term).
That, and "WE BUY GOLD" stores are increasing in numbers.
+ low interest rates
+ deficits
+ continual gov't stupidity
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| reply to Wolfie00
said by Wolfie00:I bet none of your pennies are worth as much as this one would be, if you could get to it!
(Image snipped)
The value of the penny, or the value of it based where it's gone? A 1909 VDB first year Lincoln head penny is worth $10-$20 based on condition... but to have the one that was used as the MAHLI calibration target on a Mars Rover? Priceless - couldn't set a $ amount -- if only you could figure out how to get it back to Earth! |
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