Discussion in 'General Precious Metals Discussion' started by Miksture, Oct 8, 2021.
Just a taste of people not doing 2 minutes of research.....
can list for 1,000 lol
And now it seems that the 1986 International Year of Peace is a "rare" coin
with the dipstick brigade.
This has sold for $2000.
Given the coin had a single bid to a seller with 0 feedback makes me think this is someone with multiple eBay accounts, making a fake sale then listing something similar at a relatively cheap price to make it look like a bargain.
its more expensive than a gold coin lol
I was thinking along the same lines, @heartastack , as there are plenty of these coins listed on fleaBay at only a few dollars.
But, then again I have seen a gold guinea worth about $1,000 sell for over $10,000 recently by a "reputable" US firm with 24k 100% positive feedbacks,
So never underestimate the stupidity of eBay buyers!
Curiosity update. Since your post, Ni is up bigly from ~2.6c/gram to 3.245c/g. Cu slightly up, at 1.35c/g. A 20c coin has 11.44c of Cu, and 9.16c of Ni.
A 20c coin is now worth 20.6c. Turning your notes into small coins gives you an instant paper profit of 3%.
Where do you cash in your gains?
All the ebay solds are best offers. Can be recorded as buy it nows or auction if private offer was made.
Dealers whacking off selling coins to themselves and fishing for real bites. Seems to catch somethin these days with every new RAM or PM release.
The standard circulated red poppys (not C marked) are $hundreds each. There probably aren't that many around which are centered and not chipped and its the keydate (with the Mars $2) for all the kids collecting $2.
You baghold for 5 years until the coins are removed from circulation, you sell low to the scrap metal recyclers for 10% above FV, then you have immense regret as they 40x in 60 years like rounds 50c pieces did.
In all seriousness though it's less about making a profit and more about the countdown to the end of cash. Once they stop making coins they'll probably get rid of cash entirely and move us straight to digital currencies, where we'll finally discover what negative interest rates are like.
The correlation between CBDCs and negative interest rates has always eluded me. Now either I've completely missed the memo or there isn't any correlation.
@Aelfred, can you explain to me and other members what I’ve missed?
Real rates are already well into the negative. Nominal is kind of meaningless if official change in CPI is 7%
Exactly. That's why I don't get the whole "central banks need a CBDC so they can introduce their long term negative interest rates plan" thing.
The ultimate goal of a CBDC is to keep central banks relevant a bit longer.
20c coins are now worth 23.44c
20c coins are now worth 26c
Nickel trading like a shitcoin, up 60% on the day. 20c coins are now worth 29.6c.
Scrap metal merchants buy dirty copper (copper with other metals) $ 3 to 7 a kilio
Not sure if anyone will pay for nickel content in a coin, unless you are selling by the ton.
A ton of nickel on the open market costs $68,000 AUD but you can buy it from your local bank for just $28,560, assuming you can get near spot value for the copper.
Actually, you can't even get it on the open market, the LME brought in new rules for some metals, nickel included, which allow vendors to avoid physical delivery entirely. They brought in these rules last October when Trafigura started the bank run on copper, but they've extended the same rules to aluminium, nickel, cobalt, lead, tin and zinc. https://twitter.com/JavierBlas/status/1500908588205756421/photo/1
The metal exchanges are literally not allowing people to 'cash out' into physical metal. The bank is not only allowing you to cash out, but they'll also give you way more metal for your money than any market. Such spreads tend to narrow quite fast.
For historical reference, silver round 50c effectively disappeared from circulation when they hit 60c, a 20% value above face.
A 20c coin is now worth 31c. Exciting times.
Doesnt matter does it......
If ABSOLUTELY no one will pay to buy 1 or 2c coins but at dirty scrap copper price at $4,000 to $8,000 a ton
If ABSOLUTELY no one will pay to buy 50c coins but at dirty scrap copper price even if it is 40% nickel for $4,000 to $8,000 a ton for dirty copper
Look up at scrap metal websites, who buys scrap Nickel lol or pays Spot for Copper that is "contaminated"
Walk into a bullion store with 10kg, 100kg or ton of 50c coins and try to sell it for Nickel and Copper content lol
PS you would have to melt it first, as selling legal tender 50c won't go down well in any legit places for metal content
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