W.K.F.'s Journal

0
  • entries
    283
  • comments
    52
  • views
    7,960

The Nickel May Soon be Gone & Later You May be Rich...

0
W.K.F.

1,058 views

At least gone in the composition it has always been made in since 1866...

Greetings Collectors,

I have taken a little break from posting lately but before I make this post, I want to apologize for my last post concerning and insinuating that quite possibly those that rank above me in the $10 Liberty series, may not even own the coins they claim to own. I incorrectly assumed this just because those above me did not have photos or descriptions posted. That is, all but one collector. I know how expensive these coins are, and those above me probably work a good portion of the time, and may not have the time to do what needs to be done in the photo & description realm. Anyway, an across the board "blanket" I'm sorry is something I think is in order for the content, and for the tone of my last journal.

But changing gears to the point of this post, I just wanted to let others that don't know, what I've been expecting to happen anytime over the last 4-6 years. And that is, the metal content of the nickel is quickly on the way out. And may end this coming year.

The nickel or 5-cent coin has ALWAYS been made with 75% copper & 25% nickel. The Shield Nickel, the Liberty Head V-Nickel, the Buffalo Nickel, and lastly the Jefferson Nickel have all been made with these two types of metal. The Jefferson Nickel did change during World War Two for the years of 1942 through 1945. The 1942-D was of the old alloy, but the 1942-P & S through 1945 was made of 56% Copper, 35% Silver and 9% Mangenese. Even the pre Shield Nickel coin known as the Nickel Three Cent Pieces minted from 1865-1889 which were minted to replace the Silver Nickel Three Cent piece, were also made from from 75% Copper & 25% Nickel. Kinda makes one wonder why they were always called a "Nickel"?

Anyway, just recently I read in a Coin World artical where the mint had struck a number of Zinc plated Steel Nickels to replace the alloy in the 5-cent coin known since 1866. Wow to be able to be in close with a mint official, or be a high ranking Treasury official, & get one's hands on one of those very rare experimental pieces? This is a "one of a kind" modern coin I'd love to own.

My whole point of this post is that it reminds me of when they took silver out of circulating coinage in 1965 except of course, the few years after from 1965 to 1969 when the Kennedy Half was coined in 40% Silver. And those of you with extra money, which seems to be very scarce these days with the economy like it is, should start salting away as many nickels as you can, while they all are made from a very high Copper content, and another semi-precious metal of Nickel.

At present, every roll of nickels you put away will be something that in 20-years, you will be extremely happy that you did so. After the composition changes, one will have to check the dates of most every nickel. And also, all of you will be very pleased that you put these 5-gram coins away, when you didn't have to rely on checking the dates.

Back when Gold was $1800 and Silver was a few cents shy of $50 a Nickel 5-cent coin was worth almost $.07 each because Copper being a commodity was following in line with all other metals. Just imagine then, having five million dollars worth of nickels, which if melted down, would have realized almost 7-Million. Not a very bad return. Well, the day is soon coming where 75% Copper Nickels, with a 25% Nickel composition as a kicker, will be an investment one will be very glad he or she made.

There is zero downside, as the nickels you put away will ALWAYS be worth a nickel. And the upside may be beyond tremendous. I have been getting a roll of nickels at every single stop I make regardless of the store. Sometimes they will give you one and sometimes they say they have none to spare. WallMart has quit letting anyone buy nickels there (I go to that store often). But it's really no big deal because every bank in the U.S. will sell you a box of 100 rolls for $200. Which by the way is a very heavy box. Just think if you were around in the early 1940's and bought a box a month of 35% Silver nickels? Or better yet, anytime before 1964, if one was to have bought a box of dimes or quarters that were all 90% silver? The day is coming my fellow collectors that the mostly Copper nickels will change and then each roll of nickels will have to be checked. But right now that's not the case. Every nickel in every roll weighs 5-grams and all are 75% copper. I and many others I know have been salting away nickels for years. About seven years for me and some I know have been doing this for over 20-years. Remember it was 32-years ago when they took copper out of the Cent. I would have thought that nickels too would have been changed, long before now. But just know that when this change takes place, the copper nickel will disappear very quickly.

Think about it and do what you choose to do. But with ABSOLUTELY no downside to doing this, it's really a no-brainer. Again no pics today as I have no coins at home.

Happy Collecting (And Hoarding)

WKF

0



0 Comments


Recommended Comments

There are no comments to display.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now