Consider investing in Nickels

Posted on September 1, 2009
Filed Under General |

With the US mint halting production of 2009 Nickels and dimes, a small investor opportunity has opened up. “The stoppage creates historic, staggering low mintages for the two coins — levels not seen since the 50s.” [link to www.coinnews.net] There is also the fact that the metal value in nickels now is approximately $.068. I expect to see two things occur from this. The numismatic value of the 2009 nickel will only go up and the US government will now have to do to the nickel like it has done to other US coinage and replace the base metal with some cheap pot metal clad with a nickel plate.

“Unlike US dimes and quarters, which stopped being made of 90% silver after 1964, the composition of a nickel has essentially been unchanged since the end of World War II. It is still a 5 gram coin that is an alloy of 75% copper and 25% nickel. According to www.Coinflation.com, the 1946–2008 Nickel (with a 5 cent face value) recently had a base metal value of $0.0677413. That was 135.48% of its face value.” [link to www.lewrockwell.com]

So where do you go to purchase nickels? You could try your local bank, but their supply may be limited as you will likely want to purchase bags of nickels. Your best option may be the nearest casino that generally has mountains of nickels to supply their slot machines. Good hunting everyone.

Clayton

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