Is anyone keeping coins?

[jtmaze]

My father-law-law sent me to a article on metal values and just want to get a feel for what people are saving. I know lead is going to be number on. I do not cast bullets yet, but am saving lead and playing with casting ingots. Here is the article let me. Now what you think.

James Wesley:

I read with interest your article on saving nickels. My question to you is why are nickels better than quarters? Is it not easier to store a larger sum of funds in the same physical space with quarters than nickels? If they do devalue the [printed] US Dollar by a factor of 10, then a nickel will [effectively] be worth 50 cents but a quarter will be worth $2.50.

Regards, - Richard F.

JWR Replies: As a hedge against a zero (or two) being dropped from the paper Dollar, nickels (the U.S. five cent piece) and clad quarters are indeed comparable. But from the perspective of base metal content value, consider:

A debased clad quarter (91.67% copper and 8.33% nickel) is actually worth $0.0516021. That base metal is only 20.64% of the coin's face value.

In contrast, a nickel (75% copper and 25% nickel) is actually worth $0.0536129. That base metal is 107.22% of the coin's face value.

So, by their base metal content, each nickel is worth slightly more than a quarter!

(Reference: Coinflation.com. Access date: 22 September, 2012.)

In summary, the U.S. Nickel is the ONLY instantly-recognizable coin in common circulation that is worth more than its face value. Granted, the pre-1981 U.S. pennies are presently worth 248% of their face value, but those require sorting--either time-consuming sorting by eye or electronically with a $500 Ryedale coin sorting machine.

Though I stocked up substantially in 2006 and 2007, I still ask for a $20 tray of nickels each time that I visit the bank. Someday my children will thank me for that.

Back in 1963, you could walk into a bank and walk out with all the 90% silver quarters you could carry. Each silver quarter is now worth $6.24. That is 2,496.42% of face value. (Again, according to Coinflation.com.) I see nickels as a similar opportunity for our generation. The composition of the U.S. nickel has been the same since 1946. But once it is inevitably debased (most likely to a stainless steel slug with a base metal value of less than 1/10th of a cent), our window of opportunity will close. Stock up!

JTM

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[Caster]

Pre-82 copper pennies make great investments for those of us that are broke. They're already worth twice to three times their face value for scrap. It takes about 188 copper pennies to make a pound. Copper has been well over $1.88 for a long time and no chance it will go below that ever again.

[Jonnin]

yea silver and gold aside, I would vote copper pennies next, which are still about 1/4 the ones in change.

But really, if the end of the world comes, metal value will be nil. When you are hungry, even a truck load of gold an gems from the mall jewelery stores is worthless. If 85% of the population is dead, we could all have tons of gold, there is a LOT of gold in the world. And it would be useless for anything other than cast bullets.

[Turf]

I think it is a pretty safe investment in that if it does become supervalued, you have what you need. If nothing ever happens, you still have the money you put into it.

[atlas3025]

If 85% of the population is dead, we could all have tons of gold, there is a LOT of gold in the world.

From here: http://money.howstuffworks.com/question213.htm

Figuring out the total amount of gold that has been produced by man is a little harder. To get at some kind of estimate, let's figure that the world has been producing gold at 50 million ounces a year for 200 years. That number is probably a little high, but when you figure that the Aztecs and the Egyptians produced a fair amount of gold for a long time, it's probably not too far off. Fifty million ounces * 200 years = 10 billion ounces. Ten billion ounces of gold would fit into a cube roughly 25 meters (about 82 feet) on a side. Consider that the Washington Monument measures 55 feet by 55 feet at its base and is 555 feet tall (17 x 17 x 170 m).

That means that if you could somehow gather every scrap of gold that man has ever mined into one place, you could only build about one-third of the Washington Monument.

There isn't much gold in the world. It will always be worth something. Food is only worth something until it spoils. Yes, when you are hungry you will pay anything for a scrap of food...even all of your gold.

What will the person who has more food than they can eat before it spoils be willing to trade it for? I bet they will trade it for some gold. It will also be easier to hide your small sack of gold coins from the local "militia" than your cattle and wagons of grain. Don't misunderstand, not saying one shouldn't be diversified in a SHTF scenario, but don't fool youself into belleving gold will not be valuable. Yes, in the early days, it may not have as much, but if you plan on living through the first year, gold is a good hedge.

Back to the point though, if you are not thinking total SHTF, but more of a general decline into 3rd world status, nickels would probably be a safe bet. While not precious, the metal still has good value.

[jtmaze]

There are many uses for copper if you are building things to help you survive. In my mind, end of the world situations include being creative in surviving and making your life better and better for the ones that you love. My prepping partner and I just made a trade deal for a 1000 lbs of lead blocks that are not for sale caster they are strictly for a rainy day. I plan on starting to cast bullets in the future just for the training and ability. But won't touch my rainy day stash for that. In all reality the most valuable thing I think will be plantable seed. Most seed, to my understanding, is hybrid and the product of that seed is not good for replanting. No one can save enough food to last forever. Those who have the knowledge to produce food will survive. It won't be easy but you won't die. No one knows what will be valuable in a EOTWAWKI situation. A prime example is Spots on here and his primitive black smithing hobby. I have been meaning to take some time off work to go to one of his classes. This is a skill that will be very valuable in any situation. To me, prepping is not about acquiring items but knowledge. Do I have things put back to get by until crops can be raised and camp can be set up yes, but am I totally dependent on these things, no.

JTM

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[Caster]

Lead is a great commodity. I would say, if you have molds and time, start casting that lead. You can always melt it down later to use for something else but if things are bad, you may not have a heat source OR you may not have a heat source you can afford to use. A bucket of cast .45's is just as good as a bucket of ingots as far as usability AND they are already ready already if you want to use them for whatever you cast them for.

As far as copper goes, it has many uses. I built a small furnace that when fed air from a hair dryer will melt copper in small batches. Just to see if I could do it, I melted a handful, poured it into an oak board I had a groove in, then pounded it as round as I could get it on an anvil with a hammer. I them chucked the makeshift round bar up in my lathe and turned some copper hollow points in 45 caliber. They shot just fine.

WTSHTF groups will clan together to survive. As clans become larger, small scale manufacturing will emerge among the intelligent ones. Think back to Jericho. Remember New Burn? They restored power to a machine shop and were manufacturing weapons and artillery. This idea is certainly not limited to a militant thought process. Replacement parts for mechanical tools will nonexistent. THe people who will be of the greatest value in a post apocalyptic society will be those who can contribute the most uncommon of things. Any ghetto trash can pull weeds from a garden but it takes a person with knowledge and skill to know the needs of the soil and the times and places to plant, how to harvest and save seeds from heirloom varieties.

I've said this many times. THese are the days of learning. Every man here should be learning every skill he can learn. There's NOTHING you shouldn't try to learn. Sewing, canning, knitting and crocheting is NOT woman's work. If you were to happen upon a clan willing to take you in and were the only one who could mend clothes properly, you would become quite valuable and reserve your place among the one's who get to eat every day.

Back on topic, Silver and gold are crap unless some sort of economy either recovers or is maintained. If it's all out hell on earth, lead, copper and even steel and aluminum stock [round, square, tube and angle] would carry more value than platinum.

[Jonnin]

You are correct, I was counting unmined gold stores too, not thinking. There are many many tons of gold ore yet to be mined, not sure what that becomes after purification.

using what exists today, that is less than 1/2 a pound each of 15% of the population!

[jtmaze]

That is true about having boolits already cast. Just as easy to store.

JTM

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[jtmaze]

The only problem that have with casting an storing is storing. I really struggle with saving ammo. Lol

JTM

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[UncleJak]

I think it is a pretty safe investment in that if it does become supervalued, you have what you need. If nothing ever happens, you still have the money you put into it.

I agree. I have some old "mercury"dimes that are silver and a couple of the 1 ounce silver coins. It's not a lot, but if silver ever skyrockets like people predict, I could make a few bucks.

[Moped]

I would say collect copper and silver coins. Get them as pure silver as you can. Silver can be used to kill bacteria and as a purifier! Check this article out.

http://www.doulton.ca/silver.html

Look for silver coins minted prior to 1965. They will be 90% silver. Look for Pennies minted prior to 1991. They will be 95% copper and 5% zinc. Now they are copper washed zinc. Quarters, dimes and nickels contain no silver now. Half dollars were still made of silver until 1970, when they were changed to 40% silver. Now they have no silver in them.

Another metal you might be interested in keep is tin. Copper and tin can be combined to make bronze, which can be made into tools and weapons.

Edited September 27, 2012 by Moped

[Guest 6.8 AR]

I did all the collecting of coins as a kid. I wish I collected more, but it is what it is. Silver is already doing the

skyrocketing maneuver, so don't get all worked up if it doesn't fly like you have seen gold do, but it has some

room to climb.

For that matter, if you are collecting it to see the increase, don't get caught up in that trap. You buy silver, gold,

platinum, etc., for its intrinsic value. It is never good to speculate with, but it can help as a hedge against swings

in our economy. If you are thinking, "Well, he got his when he was a kid". Good point, but is that really the case?

How much has our dollar shrunk in value since 1960, when I was 6? When you get from there to now, you'll look

and see that 100 oz of silver looks like 1 oz. Add the time value of the money and you haven't made anything.

Inflation is what you lost over time, but the silver or gold doesn't care about that. They just keep on marching on.

All I did was just make the case for saving, something!

Otherwise, Buy low, sell high.

[dou44]

sold most of mine off to buy other things to get by with.

[Guest USMC 2013]

Pre-1982 pennies, Pre-1965 dimes, quarters and halves, morgan and peace dollars and minted silver and gold are the safe bets to maintain your wealth if an economic downturns occurs. Whether through a re-valuing of the dollar due to the government not being able to pay it debts, or because of a SHTF scenario, when paper money just becomes another source of TP, precious metals will retain their value.

Will they get you what you need to survive during the roughest part of a downturn with precious metals, or SHTF, maybe not. 100% they will be more valuable than any fiat currency the government is printing and are the way to maintain your wealth for the time that comes to re-constructing.

Joe

[Hotrod]

We are buying silver dollars. The peace dollars have .77 oz. of silver. Besides the silver content they have a collector value. I know when SHTF comes collectors won't be buying but We still have hope for our country.

[Guest Karylmatt]

The price of the gold coin is realy high and nowadys people always use the to help them find metal material goods, as it is really a good assistant and in this way they will be more comfortable when they do metal detecting.

Edited November 23, 2012 by Dolomite_supafly

[RobertNashville]

I don't seek out old silver coins but when I come across one I keep it.

I buy 1oz silver Maple Leafs and American Eagle coins 10 or 20 at a time; somewhat as a hedge - the way I see it, silver is probably more scarce than gold, less expensive to buy and is needed in the manufacturer of a LOT of stuff.

However, I mostly buy them because I like them and I just the way they "feel" when holding one.