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Why are preppers buying nickels?

This is a discussion on Why are preppers buying nickels? within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; I heard from my friend (his mom works in a bank) preppers are coming into the bank asking for nickels in exchange for greenbacks. His ...

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  1. #1
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    Why are preppers buying nickels?

    I heard from my friend (his mom works in a bank) preppers are coming into the bank asking for nickels in exchange for greenbacks. His thought was that a nickel was worth 8 cents right now, can't be melted down as easily as gold, be easier to trade in precious metals etc.. Anyone have any input?
    "By failing to prepare, you are preparing to fail." -Benjamin Franklin
    "To be prepared for war is one of the most effectual means of preserving peace". -George Washington
    "I most be getting to rightwing for the rightwingers, or too radical for the radicals
    ." -Fuzzee
    "one reason we prep is to be available when necessary to rebuild society here in America. Perhaps a less effluent society at first, but a civilized society." -rob

  2. #2
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    Re: Why are preppers buying nickels?

    Check out coinflation.com! Nickels are worth like 5.5 cents right now. what people don't realize, is if they lift the melt ban on them, people will cash these in for scrap like crazy, driving the price down below 5 cents each. Unless the price of nickel really takes off, it's really not worth your time hording nickels.

    COINFLATION.com for real. it's laid out plain and simple!
    Any reason is the perfect reason to prepare.

    I has a youtube! Check me out!
    http://www.youtube.com/user/acidlittle

  3. #3

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    Re: Why are preppers buying nickels?

    Great site! I love the changes made.
    going to coinflation now.

  4. #4
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    Re: Why are preppers buying nickels?

    I like coinflation, very good stuff, thanks acidlittle.

    Thank you VanDei for the nice comments!
    "By failing to prepare, you are preparing to fail." -Benjamin Franklin
    "To be prepared for war is one of the most effectual means of preserving peace". -George Washington
    "I most be getting to rightwing for the rightwingers, or too radical for the radicals
    ." -Fuzzee
    "one reason we prep is to be available when necessary to rebuild society here in America. Perhaps a less effluent society at first, but a civilized society." -rob

  5. #5
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    Re: Why are preppers buying nickels?

    Anything to help, they have daily news stories too, but be wary of them, some are just speculators saying silver will hit 150 bucks this summer, which is fairly crazy...
    Any reason is the perfect reason to prepare.

    I has a youtube! Check me out!
    http://www.youtube.com/user/acidlittle

  6. #6
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    Re: Why are preppers buying nickels?

    because as the dollar loses value precious and base metals will hold the same purchasing power. if inflation drives the price of milk up to 50.00 a gallon the same 3.50 face have of the nickels will be worth about 50.00 bucks its a hedge on inflation. depending on which metal and how much you can buy food or invest later check out my vid

  7. #7
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    Re: Why are preppers buying nickels?

    I also have a video explaining how to invest in base metals for cheap, great for preppers focused on other preps or on a real tight budget


  8. #8
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    Re: Why are preppers buying nickels?

    Good video man, My only problem with investing in copper and nickel is that there is a melt ban on them currently. It's illegal to melt these coins down, as of now. So the people who are collecting these coins will amass huge stockpiles, and when they lift the melt ban (if ever) then you will have a massive influx of people taking their hoards in to get the metal value, and with that influx of metal coming back into the market, wouldn't that drive the price down? I'm not economist but that's just what I see happening.

    I'm not going to lie, I do hoard copper cents, not nickels yet, but I work at a gas station where I can sort through coins and buy the ones that I want out of the drawer. I'm sure if they lifted the melt ban it would take a few days/weeks for the price to drop, but still increase in supply would probably drive the price down quite a bit.
    Any reason is the perfect reason to prepare.

    I has a youtube! Check me out!
    http://www.youtube.com/user/acidlittle

  9. #9
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    Re: Why are preppers buying nickels?

    well it has the same strengths and weeknesses of silver, if high inflation levels hit the U.S. it would be due to other countries dumping the dollar and they come back to the U.S. you are correct that the price would drop if there was a large supply in the market, but it would climb again as others buy to invest at a lower price and drive it back higher again, because thought is the Dollar will weaken and fall against other currecies that are relatively stable in purchasing power foreigners very well might buy up copper and other tanganble goods after the world realizes the value of metals to fiat currency. During hyper inflation you spend money fast before it losses value, so there could be a rising supply, but in the U.S. demand for copper may rise even faster than suppy increasing the price regardless, I would hedge till you need to buy something that might spoil like milk or meat. If a currency can drop by the hour in hyper inflation its much better to hold or buy copper in that situation till you need it than hold dollars. Plus only a small amount of pennies are copper and there have been no real major discoveries of copper in about 100 years so it is rare and the rest of the world will need it as there living standard rise regardless of inflation it the U.S. However I believe silver is the best metal. for what we forgot to prep, if when supplies run out or for future investment.

 

 

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