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Author Topic: Is It Time to Buy...Nickels?  (Read 2309 times)

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Offline Bill Quick

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Is It Time to Buy...Nickels?
« on: October 19, 2011, 07:20:45 PM »
Some Words Of Advice From Kyle Bass | ZeroHedge
“What do you tell your mother when she asks you where to put her money?” I asked.

 

“Guns and gold,” he said simply.
And....

On nickels:

    He still owned stacks of gold and platinum bars that had roughly doubled in value, but he remained on the lookout for hard stores of wealth as a hedge against what he assumed was the coming debasement of fiat currency. Nickels, for instance.

     

    “The value of the metal in a nickel is worth six point eight cents,” he said. “Did you know that?”

     

    I didn’t.

     

    “I just bought a million dollars’ worth of them,” he said, and then, perhaps sensing I couldn’t do the math: “twenty million nickels.”

     

    “You bought twenty million nickels?”

     

    “Uh-huh.”

     

    “How do you buy twenty million nickels?”

     

    “Actually, it’s very difficult,” he said
I don't know if this is a play for the little guy - I can't see nickels being worth much in a true TEOTWAWKI situation - but as an investment for hard times?  Maybe.
"You can get a lot farther with a kind word and a gun than a kind word alone."  --   Al Capone

Offline Les Nessman

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Re: Is It Time to Buy...Nickels?
« Reply #1 on: October 20, 2011, 08:20:54 PM »
Yeah, well... I bought into it a few weeks ago. Once a week I get 20 or 30 dollars worth. (shrug) What the hell. At worst I'll have a few hundred in coin around.
I bet before too long nickels will be made from zinc with a thin veneer of nickel or copper-nickel. I figure, get 'em while they're Hot, before they're Not.


Offline Bill Quick

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Re: Is It Time to Buy...Nickels?
« Reply #2 on: October 20, 2011, 10:02:25 PM »
Well, if you can unload them at seven cents, that's a 40% profit.  Buy 2.5 million bucks worth, you've made a cool million in profit when you sell.

Um...anybody want to loan me 2.5 million dollars?  ;D
"You can get a lot farther with a kind word and a gun than a kind word alone."  --   Al Capone

Offline Drang

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Re: Is It Time to Buy...Nickels?
« Reply #3 on: October 21, 2011, 03:22:46 AM »
A couple of weeks ago, during our quarterly session with our financial advisor (pardon me while I giggle at the thought that I have a financial advisor) I brought up the subject of keeping an emergency cash stash in the house.  He endorsed it.  Mrs. Drang said "we can keep a hundred bucks or so..." and he said "At least five.  Maybe a grand.  Look into junk silver, too.  I understand you can get good deals at the gun shows..."
 ;D
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Offline Dale00

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Re: Is It Time to Buy...Nickels?
« Reply #4 on: October 21, 2011, 04:26:25 AM »
I can see nickles as something worthwhile to stockpile if you expect hyperinflation but on the other hand - what a pain, if you have to move. A thousand dollars worth of silver dimes is roughly 7 rolls. A thousand dollars in nickles?...My aching back. Also it would be one more thing to cause family members to "worry" about you  :)
« Last Edit: October 21, 2011, 04:36:39 AM by Dale00 »
"Test everything. Hold onto the good." 1 Thes 5:21

Offline cd

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Re: Is It Time to Buy...Nickels?
« Reply #5 on: October 21, 2011, 10:47:50 AM »
Stack ammo cans of them along the walls--ballistic protection. ;)

Offline Drang

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Re: Is It Time to Buy...Nickels?
« Reply #6 on: October 21, 2011, 01:11:40 PM »
The problem with stockpiling nickels is that nickel doesn't have the cachet of silver or gold; I can tell the guy selling whatever that I will pay him in silver, and he is far more likely to be agreeable than if I try to deal in nickel. 
That is, nickel is an industrial metal, not commonly perceived as a precious one.  See,s like even more of a gamble than common investments.
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Offline North

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Re: Is It Time to Buy...Nickels?
« Reply #7 on: October 28, 2011, 11:29:02 AM »
They really are not super useful for EOTWAWKI situations but more as a fairly safe, long term investment.  The mints will be changing the metal composition of nickels since they cost more to make then the face value, same reason they have changed dimes and quarters over the years.  Whether or not it is a GOOD investment depends on your other options.  Rolls do fit quite well in army 7.62 ammo cans.


 

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