storing nickels and pennies?

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rudyc

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jjrfs

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http://news.coinupdate.com/bill-seeks-steel-cents-nickels-dimes-and-quarters-1952/

http://www.survivalblog.com/nickels.html

so the penny and maybe the nickel will not be used any more, but the value of the metals used for the coins are worth more than the coin face value. so will this be a good small prep to have? kinda like a side hobby since i dont want to spend hundreds of dollars on rolls of coins of nickels and pennies.
i'd think so, especially if you were bugging in. taking a small amount of those coins with you might be good for bugging out, just not too much for the obvious weight reasons. a mentor of mine once recommended keeping a sock full of coins in your car to smash open a stuck window, or for a nice blunt self-defense weapon.

if the metal content value of the coins is currently double, i'll hold onto my piggybank contents. thanks for the links!
 

Kenny Lee

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Interesting interesting, I am always trying to get rid of my change in my change drawer, hundreds of nickles, dimes, pennies and quarters. Maybe I'll be less zealous now in getting rid of the smaller ones, but the dimes gotta go!
 

Clyde

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http://news.coinupdate.com/bill-seeks-steel-cents-nickels-dimes-and-quarters-1952/

http://www.survivalblog.com/nickels.html

so the penny and maybe the nickel will not be used any more, but the value of the metals used for the coins are worth more than the coin face value. so will this be a good small prep to have? kinda like a side hobby since i dont want to spend hundreds of dollars on rolls of coins of nickels and pennies.
I don't know that I would want to carry all those coins should I bug out. of course that could be my lazy side talking. :)
 

Trapper

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It seems we always have a stash of coins. I have about a gallon jug or pennies and another half full of just dimes and nickels. When they get full I cash them in and take mama out for the weekend somewhere nice. I figure if I need them I have some put away. I get too many and it becomes fun money...!
 

WilliamAshley

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This is an awsome post, I'm not sure if you are aware but the penny is no longer being made in Canada, everything is rounded up now unless you pay by creditcard or debit card, cash is in 5 cents rather than cents now.

There are some projects that explicitly call for the penny though. so I have a stash of a few just in case I ever need some.

IMO unless you are into exclusive trade of rare coins, not which will be much value in a major collapse, only collect coins for "actual usefulness" while the system of currency will likely remain relatively the same initially, things will resort to barter in a collapse context and coins will only have their melt value, not that it could ever happen but hell who knows. None the less you can definitely make money off commodities, lots of people making money off of silver coinage etc..


I'm really surpised about the nickle, but I do support it, very few things cost under 10 cents these days regardless, not the age of 1 cent candies anymore.


While coinage can hold more value than paper currency what are you trying to buy, what can the coin be made into?

There are a whole lot of pennies and nickles in circulation so they would be easy to implement as a currency but sadly they have very little actual value and are not easily transported.

Would I rather have pennies than bills in a bartering society, yes most likely but even toilet paper can hold a lot of value. Making metal is harder than making paper though.

But generally it is usually illegal to melt your currency.. that is why you can't make money off of it. but if you could then with inflation it could be a long term investment, but for the next 10 to 20 years no it will not be a good thing to buy into, except for some silver coins. or older bullion that is rare and not the same.

metal is a commodity you will probably have a better chance of return on pure metals than currency melts, and unless you can manufacture that pure metal into something useful your return may be limited with maybe $1/year to $5/year per ounce, rare earth metals can see higher returns but the cost more.

Unless you are trading in name only then there will be shipping and processing fees for return on small quantities can be meager, but generally if inflation and relative currency value loss is low then you can see modest return on investment, but other sources can be better, but IMO you should try to get what you need first and speculate later.
http://www.kitco.com/charts/liveplatinum.html


example are pennies easier to meltdown for bullet than a copper bar or wire?

is pure lead more valued due to its nature than gold? what would I use gold for if no one else needed it? etc.. ask yourself these question and acquiring commodities should be self evident, example a hunk of limestone may be more valued to your locality than gold if you need to grow your own food.

Bear in mind destruction of currency is generally illegal, and I think the SS manages this stuff small quantities may not attract attention but if you are doing this for real money the SS could get on your case.

http://www.coinflation.com/

USC 18.17
http://uscode.house.gov/download/pls/18C17.txt
 

HarrySachs

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wouldn't hurt to stock em. Maybe after a collapse, the penny, nickel and dime will go
back to their original value.
 

Lone Ranger

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I don't believe I would want to lug around a bunch of coins. However with that said a roll of quarters held firmly in the palm of your hand or in a sock would give a dandy smack in the kisser
 

rudyc

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well not for bugging out usage, but to have at home? even if the poop dont hit the fan, saving extra change in a sealed container to have as a small backup piggy bank wouldnt hurt. we had a 5 gallon bucket filled with coins, and when it was full we took em out and rolled them up and had some nice extra christmas money.
 

Gazrok

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Like some of the above posters mentioned, we save ours in a jar that counts them as we put it in. Then, before Christmas, makes a nice little bonus fund to help buy presents.
 

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