Should You Hoard Nickels?

As precious metals like silver, gold, and platinum continue to increase in price as the US Fiat Money Paper Dollar is overprinted into financial oblivion, base metals are attracting some side glances as well. In particular copper pre-1982 pennies and nickel coins (75% copper & 25% nickel). Indeed, due to the rise in the commodity price of both copper and nickel, coinflation.com lists the metallic value of the current US nickel at close to $0.07 cents! If it wasn't for a pesky law passed in December of 2006 forbidding the exportation and / or melting of US nickels, enterprising speculators might be lighting up the cauldrons already for profit!

However, given the assumption that most US citizens who've chosen to start hoarding nickels are lawful people, what could possibly be their motive for stacking the 5-cent pieces in their garages, sheds, basements etc? Well, it can't be for ease of storage and portability (always great in survival situations). For example: $20,000 worth of gold coins could be easily carried by your 85 year old grandmother in her purse. $20,000 worth of American Silver Eagles weighs 40 pounds, and can be carried by an average man some distance. However, $20,000 worth of nickels (face value) weigh 4,410 pounds, and isn't going anywhere without a forklift and a light truck or heavy duty pickup! As far as ease of storage gold and silver win hands down as well. My wife hardly even notices my hiding spots for my gold and silver coins. On the other hand, how is any married man (who presumably wishes to stay that way) going to schmooze his significant other into letting him store a mere 400,000 nickels or $20,000 worth around the house! I suppose you could form the nickel bricks into coffee tables and other furniture, but I just can't see my wife sitting down quietly while a truck is backing up to the house to unload the massive cargo.

I don't want people to get me wrong. I am very sympathetic to any person whose goal is to diversify out of the US(less) Dollar into more valuable commodities. I imagine the typical nickel hoarder may have missed the gold and /or silver trains, and is hoping to catch the more modest nickel and copper rockets before takeoff. However, I just see the logistics mentioned above to be major stumbling blocks to realizing an eventual profit from hoarding nickels, to say nothing of the thorn in the nickel-guys paw that is the US Law also detailed above.

Finally, I'd like to offer my advice. Forgo the nickels with the numerous logistical and legal roadblocks, and buy American Silver Eagles and Junk Silver (pre-1965 dimes, quarters, halves) on every dip in silver prices. Silver is headed to $50 and beyond. You may have missed the first quarter of the game, but there is still another three to go with a nice half-time show in the middle (NO CHRISTINA AGUILERA I PROMISE - I LOVE AMERICA TOO MUCH)!

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.

Rick

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