Save Your Nickels!

[sister]

A friend of my dad's told me about 3 years ago to stockpile US .05 coins, due to the base metal value of the metal in the coins. Today, one nickel = a 5 gram coin that is an alloy of 75% copper and 25% nickel. "According to www.Coinflation.com, the 1946-2008 Nickel (with a 5 cent face value) had a base metal value of $0.0677413 in 2008. That was 135.48% of its face value." --(Survivablog.com). Last November, President Obama signed "The Coin Modernization, Oversight, and Continuity Act of 2010". It is very likely that the U.S. mint will begin producing stainless steel nickels in 2011 or 2012. Saving nickels in a jar is an easy thing to do, you can also save your pennies and have them changed to nickels at your bank.
Saw this article on LewRockwell.com today, and wanted to pass it along because it is something we do in my family. It seems like an easy way to build a small hedge for yourself against whatever might be coming this way finacially. Sorry, this is only good info for people in the US!

http://www.lewrockwell.com/orig10/rawles6.1.1.html

[JDM]

Cool,

So I can just take all my pennies and nickels to the scrap metal recyclers and get more then I could from the bank.

Nice.

[Northern Boy]

If you have any silver dimes They now contain over $2.00 worth of silver Quarters have $ 5.67 worth of silver at some point in the future they will pull nickels from circulation

[ditting]

Dimes and quarters from before 1966 are high percentage silver (90%?)
Pennies from before 1982 are pure copper so worth more like $0.03.
Unlike paper money, copper and silver are naturally antibacterial.
So's brass, thats why we make door knobs out of it.

[Lazlo]

Quite a while ago I started buying silver rounds whenever I had a few extra dollars to spend. Not as an investment, more as a treasure chest for when things really go sideways. The value will never go to zero, no matter what currency is being used, be that FRNs, Yuan, bushels of wheat, cans of beans, or labor and expertise.

I could have used that "mad" money for movie tickets, new gadgets, or whatever else. Either way, instead of it being gone forever, I still have something to show for it.

As an aside, that silver is the only thing I have that has gone up in value faster than inflation. You actually lose money by putting it in a savings account because the interest paid is always less than the rate at which money is watered down. My 401K, that's a casino, LOL. Real estate, I am not even going there.

[conk]

Good advice. We've accumulated several pounds of pre-1964 coins. They will come in handy during a barter situation, after the paper money collapse. One little silver dime could be worth more than a closet full of dollars! I hope not, but best be ready.

Any kind of tangible thing will be valuable in the near future. Tools, supplies, metals (buy gold/silver NOW), commodities, land, collectibles, etc.