People always ask why I keep pre 60 nickels. Here is my reason.

[red89]

A lot of people on here seem to think keeping pre 60 nickels are a waste of time, but they don't seem to realize that people have different reasons for keeping certain coins.
Because I am a college student I only work part time, therefore I don’t have much money to keep tied up in coin roll hunting. I have never been able to do more than about 1k a week and that was during the summer when I wasn’t taking any college courses and I was able to pick up more hours at my job. This is where keeping pre 60 nickels comes into play. I can’t set aside too much money to buy the silver I want so what I do is I keep pre 60 nickels. Per box I might pull 2 bucks or so worth of pre 60 (no key dates/war) nickels. I will set aside those coins until I have enough money to roll those back up, take them to the bank and cash it out. I then use that money to buy what silver I want with it. By doing this I don’t really tie up that much money at any single time, I just slowly save up a dollar here and there by keeping pre 60 nickels. I have about 20-ish dollars (face value obviously) worth of pre 60 nickels right now, once I can get a little more I plan on either buying a Canadian maple leaf, junk Morgan dollar, or just some random junk 90%ers.

Not everyone on this forum has a full time six figure job and can afford to buy a tube of ASE's every month. Hell I wish I could just break into the five figure range soon! I am lucky to make about 9 grand a year with my part time job.

 

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[The_EE]

A lot of people on here seem to think keeping pre 60 nickels are a waste of time, but they don't seem to realize that people have different reasons for keeping certain coins.
Because I am a college student I only work part time, therefore I don’t have much money to keep tied up in coin roll hunting. I have never been able to do more than about 1k a week and that was during the summer when I wasn’t taking any college courses and I was able to pick up more hours at my job. This is where keeping pre 60 nickels comes into play. I can’t set aside too much money to buy the silver I want so what I do is I keep pre 60 nickels. Per box I might pull 2 bucks or so worth of pre 60 (no key dates/war) nickels. I will set aside those coins until I have enough money to roll those back up, take them to the bank and cash it out. I then use that money to buy what silver I want with it. By doing this I don’t really tie up that much money at any single time, I just slowly save up a dollar here and there by keeping pre 60 nickels. I have about 20-ish dollars (face value obviously) worth of pre 60 nickels right now, once I can get a little more I plan on either buying a Canadian maple leaf, junk Morgan dollar, or just some random junk 90%ers.

Not everyone on this forum has a full time six figure job and can afford to buy a tube of ASE's every month. Hell I wish I could just break into the five figure range soon! I am lucky to make about 9 grand a year with my part time job.

1959 and older nickels sell for between $4-$10 a roll around here at auction. I save them only for that reason.

 

[red89]

1959 and older nickels sell for between $4-$10 a roll around here at auction. I save them only for that reason.

All the shops around here wont take them even for face value (unless you are using them as payment). If I could find a place that has an auction I'd gladly sell them for over face!

 

[SilverForBrains]

Wow EE is that so? I am more of a thrift store and garage sale kinda guy, haven't broken into the world of auctions yet, but am planning on starting shortly. Mostly because my free time is always so random haha. Have you successfully sold some rolls for those prices at auction before, and if so how many do you sell at a time to make it worth your while? Do you add any spin to it to help them sell, such as "unsearched"?

Thanks and HH!

 

[gypsybandit]

Great Idea .. hang on to them .. they will be worth more a little down the road.n They ARE worth keeping.

 

[The_EE]

Wow EE is that so? I am more of a thrift store and garage sale kinda guy, haven't broken into the world of auctions yet, but am planning on starting shortly. Mostly because my free time is always so random haha. Have you successfully sold some rolls for those prices at auction before, and if so how many do you sell at a time to make it worth your while? Do you add any spin to it to help them sell, such as "unsearched"?

Thanks and HH!

I have sold nothing at auction as of yet. I have seen them sell for that price though. I am currently holding everything 'interesting' so that maybe in the future I might release some things for auction.

 

[SilverForBrains]

I have sold nothing at auction as of yet. I have seen them sell for that price though. I am currently holding everything 'interesting' so that maybe in the future I might release some things for auction.

Do the ones at auction usually sell with older items, or as a standalone item? I'm just curious as to the customer type. I'm assuming either more novice type antique buyers with smaller bank rolls that have an interest in coins but do not specialize in them. That's if they sell standalone (say an individual is maybe selling ten rolls). If they sell as part of a larger estate with some other good items, I could see even a more well versed antique buyer without a good background in coins purchasing them. Or I suppose even someone who is into coins and knows their stuff but doesn't have the time to CRH and wants some older nickels. Who knows!

 

[GarouLady]

I keep pre 1960 nickels and canadian pennies that I find. the nickels, like your reason, if I want to turn them into silver I have the money saved up. the canadian pennies because I love the look of the maple leaf. And here in michigan, it only costs me a penny to buy outta my till at work. I also keep wheaties now, especially since I found out that my local coin shop will give me a penny and a half for each penny. So for 2 pennies I get 3 cents. Not bad. So for 25 cents it will get me 37.5 cents, an additional 12 cents.

Sincerely,
Garoulady

 

[red89]

Great Idea .. hang on to them .. they will be worth more a little down the road.n They ARE worth keeping.

I try to keep 38-49s (excluding war nickels, i have another stack for those haha) and not cash those in, I cant seem to part with anything before 1950 for some reason. To be honest it kinda hurts turning in the 50-59 sometimes for face, but I know its going towards silver so that eases the pain a little haha.

 

[firemac]

I like your thinking! I have a separate savings account that I put the clad I find MDing into, when the balance is high enough, it too becomes silver.

 

[Easy]

A lot of people on here seem to think keeping pre 60 nickels are a waste of time, but they don't seem to realize that people have different reasons for keeping certain coins.
Because I am a college student I only work part time, therefore I don’t have much money to keep tied up in coin roll hunting. I have never been able to do more than about 1k a week and that was during the summer when I wasn’t taking any college courses and I was able to pick up more hours at my job. This is where keeping pre 60 nickels comes into play. I can’t set aside too much money to buy the silver I want so what I do is I keep pre 60 nickels. Per box I might pull 2 bucks or so worth of pre 60 (no key dates/war) nickels. I will set aside those coins until I have enough money to roll those back up, take them to the bank and cash it out. I then use that money to buy what silver I want with it. By doing this I don’t really tie up that much money at any single time, I just slowly save up a dollar here and there by keeping pre 60 nickels. I have about 20-ish dollars (face value obviously) worth of pre 60 nickels right now, once I can get a little more I plan on either buying a Canadian maple leaf, junk Morgan dollar, or just some random junk 90%ers.

Not everyone on this forum has a full time six figure job and can afford to buy a tube of ASE's every month. Hell I wish I could just break into the five figure range soon! I am lucky to make about 9 grand a year with my part time job.

Wouldn't it make more sense to save the pre 60 nickels and then sell the for profit on eBay FIRST, then by silver or am I missing something. Don't get me wrong I can't really see much value in pre 60 nickels myself but its a FACT that they can be sold for profit. So why go through all the trouble of saving them and then not go the extra 10 feet and make profit?
Anyways just my 2 cents

 

[mleblanc138]

The trick is to just search whatever you can with whatever you can set aside to "cycle." Every 5 dollars is a potential roll of Dimes, and every 10 a roll of Halves. Search enough and you can either sell the Silver for a higher bankroll or save it away and consider it less Silver to be bought. I have personally pulled 1 Silver Dime in a batch of $15, as well as 2 Silver Dimes in another batch of $25. Since you're not finding War Nickels, Dimes/Halves would be good, or go through Pennies and set aside the Wheats and pre 1982 95% Copper.

 

[red89]

Wouldn't it make more sense to save the pre 60 nickels and then sell the for profit on eBay FIRST, then by silver or am I missing something. Don't get me wrong I can't really see much value in pre 60 nickels myself but its a FACT that they can be sold for profit. So why go through all the trouble of saving them and then not go the extra 10 feet and make profit?
Anyways just my 2 cents

I don't have an e-bay account and I don't find enough to sell frequently since I do such a low volume.

 

[Easy]

I don't have an e-bay account and I don't find enough to sell frequently since I do such a low volume.

yea, i guess if your bankroll is that low theres not much you can do....

 

[thripp]

I keep pre 1960 nickels and canadian pennies that I find. the nickels, like your reason, if I want to turn them into silver I have the money saved up. the canadian pennies because I love the look of the maple leaf. And here in michigan, it only costs me a penny to buy outta my till at work. I also keep wheaties now, especially since I found out that my local coin shop will give me a penny and a half for each penny. So for 2 pennies I get 3 cents. Not bad. So for 25 cents it will get me 37.5 cents, an additional 12 cents.

Sincerely,
Garoulady

1.5 cents for wheats is too low, my coin shop pays 3 cents. Also, you need to take out the S mints and the other good ones.

I save all nickels before 1960 as well. They aren't worth anything extra intrinsically, but numismatically they may have more value to "suckers."

 

[jrf30]

I keep pre 1960 nickels and canadian pennies that I find. the nickels, like your reason, if I want to turn them into silver I have the money saved up. the canadian pennies because I love the look of the maple leaf. And here in michigan, it only costs me a penny to buy outta my till at work. I also keep wheaties now, especially since I found out that my local coin shop will give me a penny and a half for each penny. So for 2 pennies I get 3 cents. Not bad. So for 25 cents it will get me 37.5 cents, an additional 12 cents.

Sincerely,
Garoulady

Since I get 1.5 - 1.6 cents per MEMORIAL copper cent, youa re getting WAY too low for wheats. I get 3 cents for commons, but many recently sell for 10 cents, 30 cents, or even close to $1. Selling ANY wheats for 1.5 cents is too cheap, and you need to call (No need to drive) a few more LCS's to see who will give you more than that.