Paper Promises Video - Pennies and Nickels Question

[harbl_the_cat]

Thanks John for answering my question - and yes, Fluttershy is best pony

I've said it before, I'll say it again.

IF YOU LIVE IN CANADA. GET CANADIAN PENNIES AND NICKELS NOW.

I'm making it a habit once a week to pick up a box ($25) of Canadian pennies and a box ($100) of nickels.

The banks HATE it when you take out that kind of cash, so call ahead and order them.

Don't bother sorting the pennies - it takes about an evening to sort a box of pennies ($25) but out of one box, you'll get about $8 of fully debased pennies, probably 1/3 of pure copper pennies (at between $0.018 to $0.025 each), and 1/3 copper plated zinc pennies (at about $0.004 each). Just keep the whole box since it's not worth the effort at these prices to sort them all. The Canadian government fully debased our pennies in 1997 the same way the US government did in 1982, so there are LOTS of old, non-debased copper pennies in circulation.

Just do a spot check to make sure someone else hasn't done sorted them yet - out of 5 boxes, I've had one where there were no pure copper pennies. Theoretically, in an unsorted box, you have about 1.33x the total value of the melt value + face value of the pennies - meaning a $25 box of unsorted pennies is actually probably worth about $33.25. Even the copper plated zinc pennies, I suspect will someday be worth more than their face value. The bank of Canada's target annual inflation rate is 3% (which we all know is bogus and understated) even with 3%, this means 29 years from now, the zinc pennies will be worth more than their face value (I think it will be MUCH sooner, since the actual inflation rate is much higher than 3%).

In a box of nickels, you'll get about 3/4's fully debased nickels, 1/8 coprunickels (both American and Canadian, at about $0.044 each) AND 1/8th pure nickel nickels (valued at about $0.07 each). Canada WAS the largest producer of Nickel in the 1900's which is why our nickel was made of pure nickel - and more valuable than the US nickel. I sort these and keep all the coprunickel and pure nickel ones.

Guaranteed - you're children or grandchildren WILL thank you if you give them a box of Canadian pennies or nickels and you'll keep your sanity while the silver price fluctuates so violently.

If I were American - I would be taking out $100 worth of nickels every week and socking them away somewhere for the same reason.

[97guns]

i stack pennies and nickels but i havn't bought any in a years or so, sitting on $2000+ in nickels. i started out sorting pennies but then went to nickels because i didn't have to sort.

(07-10-2012 12:27 PM)harbl_the_cat Wrote:  Thanks John for answering my question - and yes, Fluttershy is best pony

I've said it before, I'll say it again.

IF YOU LIVE IN CANADA. GET CANADIAN PENNIES AND NICKELS NOW.

I'm making it a habit once a week to pick up a box ($25) of Canadian pennies and a box ($100) of nickels.

The banks HATE it when you take out that kind of cash, so call ahead and order them.

Don't bother sorting the pennies - it takes about an evening to sort a box of pennies ($25) but out of one box, you'll get about $8 of fully debased pennies, probably 1/3 of pure copper pennies (at between $0.018 to $0.025 each), and 1/3 copper plated zinc pennies (at about $0.004 each). Just keep the whole box since it's not worth the effort at these prices to sort them all. The Canadian government fully debased our pennies in 1997 the same way the US government did in 1982, so there are LOTS of old, non-debased copper pennies in circulation.

Just do a spot check to make sure someone else hasn't done sorted them yet - out of 5 boxes, I've had one where there were no pure copper pennies. Theoretically, in an unsorted box, you have about 1.33x the total value of the melt value + face value of the pennies - meaning a $25 box of unsorted pennies is actually probably worth about $33.25. Even the copper plated zinc pennies, I suspect will someday be worth more than their face value. The bank of Canada's target annual inflation rate is 3% (which we all know is bogus and understated) even with 3%, this means 29 years from now, the zinc pennies will be worth more than their face value (I think it will be MUCH sooner, since the actual inflation rate is much higher than 3%).

In a box of nickels, you'll get about 3/4's fully debased nickels, 1/8 coprunickels (both American and Canadian, at about $0.044 each) AND 1/8th pure nickel nickels (valued at about $0.07 each). Canada WAS the largest producer of Nickel in the 1900's which is why our nickel was made of pure nickel - and more valuable than the US nickel. I sort these and keep all the coprunickel and pure nickel ones.

Guaranteed - you're children or grandchildren WILL thank you if you give them a box of Canadian pennies or nickels and you'll keep your sanity while the silver price fluctuates so violently.

If I were American - I would be taking out $100 worth of nickels every week and socking them away somewhere for the same reason.

[harbl_the_cat]

That's awesome... I wish I knew about this back in 1999. Fortunately, there were coprunickle nickels made in Canada up until 2006 (even though they were mixed in with stainless steel ones).

Seriously, if I were American, I would be taking out $100 worth of nickels weekly pretty much indefinitely and until there was serious monetary reform in the US.

(07-10-2012 02:20 PM)97guns Wrote:  i stack pennies and nickels but i havn't bought any in a years or so, sitting on $2000+ in nickels. i started out sorting pennies but then went to nickels because i didn't have to sort.

(07-10-2012 12:27 PM)harbl_the_cat Wrote:  Thanks John for answering my question - and yes, Fluttershy is best pony

I've said it before, I'll say it again.

IF YOU LIVE IN CANADA. GET CANADIAN PENNIES AND NICKELS NOW.

I'm making it a habit once a week to pick up a box ($25) of Canadian pennies and a box ($100) of nickels.

The banks HATE it when you take out that kind of cash, so call ahead and order them.

Don't bother sorting the pennies - it takes about an evening to sort a box of pennies ($25) but out of one box, you'll get about $8 of fully debased pennies, probably 1/3 of pure copper pennies (at between $0.018 to $0.025 each), and 1/3 copper plated zinc pennies (at about $0.004 each). Just keep the whole box since it's not worth the effort at these prices to sort them all. The Canadian government fully debased our pennies in 1997 the same way the US government did in 1982, so there are LOTS of old, non-debased copper pennies in circulation.

Just do a spot check to make sure someone else hasn't done sorted them yet - out of 5 boxes, I've had one where there were no pure copper pennies. Theoretically, in an unsorted box, you have about 1.33x the total value of the melt value + face value of the pennies - meaning a $25 box of unsorted pennies is actually probably worth about $33.25. Even the copper plated zinc pennies, I suspect will someday be worth more than their face value. The bank of Canada's target annual inflation rate is 3% (which we all know is bogus and understated) even with 3%, this means 29 years from now, the zinc pennies will be worth more than their face value (I think it will be MUCH sooner, since the actual inflation rate is much higher than 3%).

In a box of nickels, you'll get about 3/4's fully debased nickels, 1/8 coprunickels (both American and Canadian, at about $0.044 each) AND 1/8th pure nickel nickels (valued at about $0.07 each). Canada WAS the largest producer of Nickel in the 1900's which is why our nickel was made of pure nickel - and more valuable than the US nickel. I sort these and keep all the coprunickel and pure nickel ones.

Guaranteed - you're children or grandchildren WILL thank you if you give them a box of Canadian pennies or nickels and you'll keep your sanity while the silver price fluctuates so violently.

If I were American - I would be taking out $100 worth of nickels every week and socking them away somewhere for the same reason.

[dragonfly5]

Thanks for posting this - I'm not in the position to buy so much but am going to start sorting through all my change for 99% nickels. Maybe buy a few rolls of nickels every time I'm in a bank and sort out the 55 to 81's. I think I'll leave the pennies alone for now.

[harbl_the_cat]

This guy has a great video on Canadian coinage.

http://www.youtube.com/user/CanadaCoinHunting
http://www.canadacoinhunting.blogspot.ca/

If you can stack the 99% nickels that's better than nothing, but personally, I think stacking the American and Canadian Copper nickels is a good idea.

Really, a $100 box of nickels will cost you about $30-40, and even then, it's not really going to cost you anything but your time, since all your doing is keeping cash at home instead of in the bank. You can spend those nickels as easily as you can spend cash in the bank and I've found since I started stacking them, I'm actually quite a bit more frugal, since I try (try) to spend in smaller denominations to use up the debased nickels I stack.

You're also passively attacking the banking system, since IIRC, the banks have a zero (or close to it) reserve requirement, so every $100 box you take out is something like $10,000 worth of loans the bank CAN'T make. That's probably one of the reasons they deter you from taking them out.

[SilverTemplePilot]

Obama wants cheaper pennies and nickels

Save Your Nickels

"Mint Director Henrietta Fore in 2004 asked Congress to fund research into lower-cost alternatives to present coinage metals. Although the initiative lapsed when she left office in 2005, in 2010, Congress passed the Coin Modernization, Oversight, and Continuity Act, directing the Mint to explore alternatives to the present compositions of the six denominations, from cent to dollar. In 2011, the Mint awarded a contract to study the issue to Concurrent Technologies Corporation of Johnstown, Pennsylvania. Although the contract does not expire until 2013, under the legislation, the Mint is to provide a detailed report to Congress and to the Treasury Secretary by December 14, 2012" - Wikipedia(nickel)

Canada changed to steel nickels recently, I see that coming our way.

[Viper_99]

I spend all my excess money on silver have zero time to play with copper or nickel. If I had extra cash I will buy prepping supplies like ammo, 9 mm, food stores, etc. Take a look at the world we live in, here is a video from Spain yesterday. Coming soon to a city near you!