Is it worth keeping all my cupro nickel, $1 & $2 coins or trade up?

G

Gollum

New Member
I have a bucket I throw all my pocket change in each day. Once the bucket is full (normally $80 to $100 worth) I change it out for note cash and (prior to stacking) would normally spend it on a take away meal for the family.
I would likely now put it towards silver and we eat baked beans instead :D

So my question is: Is there any long term prospect of making a better return by stacking this decimal coinage rather than converting it's current value to silver?
Can you see a day (say in 20-30 years time) when decimal coinage is worth more than face value? Possibly post an event where say we don't openly trade with coinage or smaller denominations are phased out (like our 1 & 2 cent coins)?
Possibly I should change out my bucket of coins for sealed rolls of current decimal coinage? Do bank freely hand these over on an even trade basis? Or do I just say stuff the hassle of keeping it and just upgrade to silver and be done with it?

Keen to hear your opinions

Cheers, Gollum
 
they usually will give you coin rolls but generally they are not mint state coins , just a mix of all dates.
easier to store in rolls grouped in blocks. they can be stacked easily that way
 
If the value of the metal exceeds the face value, as it almost has done on a couple of occasions then it sounds like you are on to a winner, however, cupro nickel isn't like silver, it might get expensive but the only people who want it are the people who make coins. There are so many different cupro-nickel alloys that it would be hard to find someone interested in the melt value of either metal, and refining it looks to be a very tricky and expensive process.

So all that will happen is that we will change the composition of our coins to copper plated steel, or copper plated zinc, or some other cheaper metal, maybe change the size of the coins and all your old coins will not be able to be spent and will require some sort of hassle taking them to a bank in the capital city if you don't exchange them in time.

It might be nice to have a couple of examples to show people but I would just treat everyone out to a meal instead, might as well get some pleasure out of it.
 
Get a bigger bucket! Then cash it all in at once and buy a chunk of silver!
 
Gollum said:
I have a bucket I throw all my pocket change in each day. Once the bucket is full (normally $80 to $100 worth) I change it out for note cash and (prior to stacking) would normally spend it on a take away meal for the family.
I would likely now put it towards silver and we eat baked beans instead :D

So my question is: Is there any long term prospect of making a better return by stacking this decimal coinage rather than converting it's current value to silver?
Can you see a day (say in 20-30 years time) when decimal coinage is worth more than face value? Possibly post an event where say we don't openly trade with coinage or smaller denominations are phased out (like our 1 & 2 cent coins)?
Possibly I should change out my bucket of coins for sealed rolls of current decimal coinage? Do bank freely hand these over on an even trade basis? Or do I just say stuff the hassle of keeping it and just upgrade to silver and be done with it?

Keen to hear your opinions

Cheers, Gollum
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Well do you currently do a lot of trading with old time half pennies, pennies or 1 and 2 cent pieces?
That would be my take depending on your personal answer:)
 
Gollum said:
I have a bucket I throw all my pocket change in each day. Once the bucket is full (normally $80 to $100 worth) I change it out for note cash and (prior to stacking) would normally spend it on a take away meal for the family.
Click to expand...

Tell the family they are welcome to take coins out whenever they need to buy something - then you won't have to worry about the bucket ever being full.
 
Not sure if it is worth it but I keep a fair amount of money stored in US nickels. It makes it harder for me to spend, its hard for a thief to make away with a lot and its the only coin thats melt is close to its face value. I pull them out of my change as well and toss them in a jar. That and copper pennies. I don't plan to really make any money on nickel values going up but I feel better with something physical instead of in my bank or dollar bills.

If I put all my money into nickels instead of silver I would have more money right now...but in the long run I still think nickels will only be worth face so may get outperformed by silver.
 
Nabullion Dynamite said:
its hard for a thief to make away with a lot
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Um...

http://www.news-press.com/story/new...kels-stolen-from-north-naples-party/24072539/

Deputies are searching for the culprit who stole 183 boxes filled with $18,500 in nickels.

That's 370,000 nickels.

The theft occurred at during a house party at a home in Monterey, a gated community in North Naples, on Feb. 15.

The Collier County Sheriff's Office is asking the public to be vigilant at places where someone can go to redeem change in large quantities such as a bank or a supermarket.

The nickels are in brick-sized white and blue boxes. Each box can fit up to 50 rolls.

Other items stolen from the party include a .12-gauge shotgun, a .45-caliber firearm and ammunition.

Anyone with information is asked to call the Collier County Sheriff's Office at 252-9300, or to remain anonymous and be eligible for a reward call Crime Stoppers at 1-800-780-8477.
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