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- - Pulling out 2007 U.S. nickels? (http://goldismoney.info/forums/showthread.php?t=127263)

goldminer | 04-15-2007 06:07 PM
Pulling out 2007 U.S. nickels? There is more than 9-cents of metal in a U.S. nickel. The mint is striking 2007's with the same composition as past years. Is anybody pulling them out of circulation due to the possibility that the mint may execute a mid-year change in composition and subsequently produce many fewer 2007 Ni-Cu nickles than previous years giving them much higher numismatic value. Thoughts?

GreenSpirit | 04-15-2007 06:36 PM
Re: Pulling out 2007 U.S. nickels? Quote:
Originally Posted by goldminer (Post 573263) There is more than 9-cents of metal in a U.S. nickel. The mint is striking 2007's with the same composition as past years. Is anybody pulling them out of circulation due to the possibility that the mint may execute a mid-year change in composition and subsequently produce many fewer 2007 Ni-Cu nickles than previous years giving them much higher numismatic value. Thoughts?
If I finds any 2007 nickels I definitely saves them. But then, I save ALL my nickels. I'm kinda crazy that way.... ...(searching for a crazy-guy smiley)...oh well ..:elefant:

Wyldwil | 04-15-2007 06:48 PM
Re: Pulling out 2007 U.S. nickels? As of now...we are at 394,000,000 and counting.... http://www.usmint.gov/about_the_mint...2007#starthere Nice thought.... Numismatic?? Not so much....

goldminer | 04-15-2007 07:25 PM
Re: Pulling out 2007 U.S. nickels? Ahhhhhhhhhhhhhhhhhhhhhhh! Thanks. I guess if we could get the gobermint to produce FRNs that are worth twice their face value, we'd be in business no? Leave it to the federal government to spend tax payer dollars to acquire metals to strike coins worth only half of what is being paid for just the raw metal...forget about additional taxpayer costs for planchet fabrication and shipping, and government costs incurred in production and distribution... only to have the coins pulled from circulation by weenies who are wiser than they are.

Sparky | 04-15-2007 09:30 PM
Re: Pulling out 2007 U.S. nickels? Great link, Wyldwil. So the mint produces 8 billion pennies per year? What a waste.

Veritas | 04-15-2007 09:35 PM
Re: Pulling out 2007 U.S. nickels? So technically I could go to the bank and purchase 100,000 nickels for $5,000. Theoretically I should be able to sell the metal content in those nickels for $9,000 - a net gain of $4,000. Where would I be able to sell the nickels? Would they need to be melted down first? Any buyers out there?

Veritas | 04-15-2007 09:36 PM
Re: Pulling out 2007 U.S. nickels? Hahahaha!! -maybe I could sell the metal back to the Treasury Department so they can coin new nickels...talk about a scam!

Meliorist | 04-15-2007 09:39 PM
Re: Pulling out 2007 U.S. nickels? Quote:
Originally Posted by goldminer (Post 573296) Ahhhhhhhhhhhhhhhhhhhhhhh! Thanks. I guess if we could get the gobermint to produce FRNs that are worth twice their face value, we'd be in business no? Leave it to the federal government to spend tax payer dollars to acquire metals to strike coins worth only half of what is being paid for just the raw metal...forget about additional taxpayer costs for planchet fabrication and shipping, and government costs incurred in production and distribution... only to have the coins pulled from circulation by weenies who are wiser than they are.
*shrug* I think they more than make up for it with the seignorage from their other coins (particularly "collectible" coins like state quarters). Besides, the Mint's mission is to provide coinage for efficient/effective commerce, not make money. Back in the day you could bring your gold or silver to the Mint and they'd assay and coin it for free (obviously operating at a substantial loss). With that in mind, I think they model the coins in circulation and project them under several scenarios. When they see nickels disappear from circulation at an accelerating rate to what will (a few years out) be faster than they could reasonably produce them, they will change the composition. If the ban stays in place I don't think that'll happen in the next few years. I believe they pumped out massive amounts of silver coins the last couple years of their production (before seemingly finally giving up) so that might be good indicator for which to look. I'm sure they knew that once they removed the silver, hoarding would skyrocket. Of course, cupronickel is quite a bit less valuable than 90% silver (and will probably get less press/notice than the change from silver) so who knows. From that link, this year they've averaged 131.6M nickels/mo while averaging 125.2M/mo last year and 145.1M/mo the previous year.

goldminer | 04-15-2007 09:59 PM
Re: Pulling out 2007 U.S. nickels? "...shrug* I think they more than make up for it with the seignorage from their other coins (particularly "collectible" coins like state quarters). Besides, the Mint's mission is to provide coinage for efficient/effective commerce, not make money..." I really don't give a hoot what the mint does. My problem is that they are pissing away tax dollars that grandma and I work our hind-ends off earning...only to turn over to the Federal Reserve cartel of robbers, who already personally have more money than they, their children, and grandchidren, can possibly spend over the rest of their lives.

The Argent Dragon | 04-16-2007 05:56 PM
Re: Pulling out 2007 U.S. nickels? I pull out ALL nickels from my change and roll them up.......regardless of year. :bear_thumb:

Meliorist | 04-17-2007 11:09 PM
Re: Pulling out 2007 U.S. nickels? Quote:
Originally Posted by goldminer (Post 573387) "...shrug* I think they more than make up for it with the seignorage from their other coins (particularly "collectible" coins like state quarters). Besides, the Mint's mission is to provide coinage for efficient/effective commerce, not make money..." I really don't give a hoot what the mint does. My problem is that they are pissing away tax dollars that grandma and I work our hind-ends off earning...only to turn over to the Federal Reserve cartel of robbers, who already personally have more money than they, their children, and grandchidren, can possibly spend over the rest of their lives.
How are they doing that?

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