War Nickels

[Jake]

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[Paul]

Unlike pure or close to pure silver coins it would take some effort from a refiner to seperate the silver from the other metal(s) that are within these coins. This is the down side. Though if you are just trading them then I don't see it a such a problem.

[Jake]

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[TheLoneRanger]

Yeah.. check the ammount various refiners charge for refining various purities of silver.. you will see, as a general rule, the lower the percentage of silver in something the bigger cut the refinery takes... spot price less refining charge equals "melt value" ... when dealing with low percentage silver alloy you want to try and get it below melt value the same way you would want to get 999 fine silver below spot price.

Examples http://www.midwestrefineries.com/silver.htm

different prices for different purities but does not even accept nickles or nickle silver alloys

http://www.northernrefineries.com/Settlement.htm again, different payouts for different purities no mention of nickles or nickle alloy.

[Argentum]

Silver coinage always has a place in my hoard. It is recognizable, durable, verifiable and can be had at some very reasonable prices. I do prefer the 90%, with 40% half dollars as a second.

[centralpa]

I am not crazy over them.

AS it is- I have too much % of 40% which is harder to melt.

[goldminer]

War nickels have a more complex alloy then U.S.90% & 40%, and Canadian 80% silver coins. The complex alloy (35% Silver, 9% manganese, and 56% copper make the coins (as posted above) more expensive to refine. As a result, refineries don't want them and WILL NOT buy them as long as they can get 90, 80, &/or 40% silver coins.

This is why these nickels sell at a discount, and you can bet that when you go to trade 'em out (which IMO you need to - and use the money to get 90% or 80% coins, which ever you prefer) the buyer will also pay a discounted price or the buyer won't buy 'em. The result will be that the coins you think you're getting cheap (compared to 90% & 80%, are not cheap at all.

35% nickels will always be one of the least desirable silver coins. My advice unless you can get them exceedingly cheap (40% Kennedy halves also), is to pass 'em up & get 80% or 90% silver coins.

My two Flying Eagle cents.

[Jake]

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[hippiebrian]

I just Bought War Nickels From http://www.goldeneaglecoin.com/Nickels/Bulk_Nickels/item/War_Nickels_Circulated_1000_pcs.

The price is under Melt
My question is Why?
If War nickels have 35% Silver and are worth roughly 0.76 according to Coinflation, why am i able to get these coins for 0.67 each?
i don't get it.---please help

Before you do anything with these, get a Red Book, and check them over for numismatic value. Check all the dates, check for mint mistakes, etc. You may find you did ok no matter what the melt value.

[PSUDave]

Before you do anything with these, get a Red Book, and check them over for numismatic value. Check all the dates, check for mint mistakes, etc. You may find you did ok no matter what the melt value.

Then divide the Red Book values by 50% and you'll get a realistic value. :lol: War nickels have their place, they have silver in them. I wouldn't go too heavy in them. Why melt them, trade them in the form that they are.

[Jake]

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[hippiebrian]

Then divide the Red Book values by 50% and you'll get a realistic value. :lol: War nickels have their place, they have silver in them. I wouldn't go too heavy in them. Why melt them, trade them in the form that they are.

lol, I agree, but better 50% of a value over melt than just melt, I always say. Also there's the fun factor of seeing what you can find!

[Katwoman]

Sorry to be the one to burst your bubble but I seriously doubt anyone will ever actually melt these old coins down for the silver in them. More likely as the FRNs lose value people will prefer to use old coins as money again. It will start with small transactions between like minded friends who recognize the value of silver and progress from there to include transactions between private businessmen and their consumers. Not until very late if ever in the course of the collapse will chain stores start to take PMs as payment for anything and even then it is likely most of these will hold onto the misguided belief that a FRN is real money.

[hippiebrian]

Sorry to be the one to burst your bubble but I seriously doubt anyone will ever actually melt these old coins down for the silver in them. More likely as the FRNs lose value people will prefer to use old coins as money again. It will start with small transactions between like minded friends who recognize the value of silver and progress from there to include transactions between private businessmen and their consumers. Not until very late if ever in the course of the collapse will chain stores start to take PMs as payment for anything and even then it is likely most of these will hold onto the misguided belief that a FRN is real money.

Hate to burst everyone's bubble, but even after the "collapse" (which I highly doubt will be what people here think it will be, but I could be wrong) if a FRN will still get me a nice meal at an Indian resturant, it will still be real money. Because really, what is real money other than a means of exchange?

[Argyria]

I notice from looking at their website Midwest Refineries does not accept 40% silver halves either. Nor any foreign coins. I had put it forth in other threads that 40% halves might not be as desirable to have.

[hippiebrian]

I notice from looking at their website Midwest Refineries does not accept 40% silver halves either. Nor any foreign coins. I had put it forth in other threads that 40% halves might not be as desirable to have.

Can I buy all yours at face value?

[hiyosilver]

Then divide the Red Book values by 50% and you'll get a realistic value. :lol: War nickels have their place, they have silver in them. I wouldn't go too heavy in them. Why melt them, trade them in the form that they are.


You're right, redbook is about twice what a coin dealer might pay...

[hippiebrian]

You're right, redbook is about twice what a coin dealer might pay...

Red Book is supposed to represent what a dealer will sell for, not pay. Try Blue Book for what a dealer might pay, and laugh (or cry) at the difference!

[hiyosilver]

a nice meal at an Indian resturant



Man, you really did smoke too much of that stuff didn't you!


black book or greysheet is more like what a dealer will pay.

[Argyria]

Can I buy all yours at face value?

Sure. All 0 of them.

[hippiebrian]

Man, you really did smoke too much of that stuff didn't you!


black book or greysheet is more like what a dealer will pay.

lol, Yup! Those days are years over, but I may still have bong resin on the brain...
Black book and greysheet are more accurate, you're right. I just say Blue book, because that's what most people will have for a reference...and the difference in price even then is scary!

[hiyosilver]

no, the smoke reference was to the Indian food....:)

you have to have near dead senses of taste and smell to enjoy that stuff!...:D


When I walk into one of my Indian friends house, I have to run my hand along the wall until I get to a chair because of the stars I'm seeing from the fumes.....hehehe

[hippiebrian]

:lol:
no, the smoke reference was to the Indian food....:)

you have to have near dead senses of taste and smell to enjoy that stuff!...:D


Maybe, but I do love the stuff...

[hiyosilver]

:lol:


Maybe, but I do love the stuff...

catch my edit above, you replied before I finished editing...:)

[hiyosilver]

anyway, back on the subject....Frankly, I wouldn't bother with war nickels. If I were looking for small denomination coinage, I'd go for 90% roosevelt dimes....... mercurys as a rule have too much wear....Myself, I've got just about everything covered, except I don't have any 5 ounce or 1 kilo bars yet....and don't really want any war nickels...the only ones I have are in an old folder I've had since I started collecting as a kid.

[hippiebrian]

catch my edit above, you replied before I finished editing...:)

I got it, and it's the Indian food, including the fumes, lmfao, that I'm loving these days...

Last time I did the other stuff, a quarter oz. was a dime...the good old days (at least what I remember of them...)

[hiyosilver]

Yeah, "the forgotten years", at least we finally got smarter than we thought we were then...:D

[Jake]

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[akak]

Hate to burst everyone's bubble, but even after the "collapse" (which I highly doubt will be what people here think it will be, but I could be wrong) if a FRN will still get me a nice meal at an Indian resturant, it will still be real money. Because really, what is real money other than a means of exchange?


FRN's are NOT "real money" according to the classic definition, that being:

1) a unit of account
2) a means of exchange
3) a store of value

If you think that the dollars in your wallet or bank account are a real store of value, then you got some learnin' to do, quick!

[Silvature]

Amen!

sell 'im cdo's



FRN's are NOT "real money" according to the classic definition, that being:

1) a unit of account
2) a means of exchange
3) a store of value

If you think that the dollars in your wallet or bank account are a real store of value, then you got some learnin' to do, quick!

[zr4]

I would think if the silver price gets high enough that they might be more willing to melt them.

[Argyria]

I would think if the silver price gets high enough that they might be more willing to melt them.

Maybe, but you'll pay a lot extra for the extra refining. So just because you can get them below spot now doesn't make them a good deal, you won't get spot for them later, either.

[cugir321]

You will get more than spot when the price rockets. It happened in the hunt brothers era.....

Found this on the web....looks like they paid 54.00 an ounce during the hunt silver rush...that's over spot.

Just 28 years ago. Silver hit $48.70 per oz.
Silver values below

War nickel - $2.74 ea. ($109.60 per roll)
90% dime - $3.52 ea. ($176.00 per roll)
90% quarter - $8.81 ($352.40 per roll)
90% half - $17.61 ($352.20 per roll)
40% half - $7.21 ea.
90% dollar - $37.67 ea.

The economy sucks....buy nickles. I paid .60 a piece for tons....it will be a great investment soon. And if the gov allows the banks to destroy us....it will make nice pocket change for things like a tank of gas, a meal for the family, rent.

[maplesilverbug]

Um...just a thought...seeing as how America has constantly been at war for the last 300+ years...wouldn't that make every single nickel minted a "War Nickel"?
:confused:

[TheLoneRanger]

if you have a couple thousand war nickles .. imho you should sort them by year and mint mark.. there are only 11 possibilities, and check with some of the online coin shops for the war nickle set holders/ display cases.. they cost anywhere from $2-6 depending on how fancy you want to get.. as sell the sets all dressed up at gunshows, crafts fairs, or as gift sets and take advantage of the numisnatic value as well as the silver value.

Obviously you would want to select and sort by condition.. but if you google "WW2 Nickle set" you will see sets going for anywhere between $20 for circulated indifferent condition coins to $400 for gem BU sets.. Thats well over spot + the holder... alot of a coins value is sometimes just marketing

If you pick thru your pile of any silver coins and have any in exceptional condition I would put them up in 2x2's and put them up for sale individually or in sets .. I mean geeze.. folks will sit arround for days picking thru rolls of halves or what have you looking for silver and be happy with a handfull of 40%... might as well check your silver for numismatics and flip them for more silver if you can.

You can buy the various display set holders for pennies nickles dimes whatever individually so you don't need to buy a bunch on spec. sort first see what you got and package and market so you can flip and buy more silver.
Sets of 16 Franklins ( one of each date) in shiny condition or 35( one of each date and mint) , even circulated in an alblum go for well over $200 . Thats like finding 4 or 5 90% halves when you flip them.

Yeah it's work... or.... maybe it's just a good excuse to fondle your silver without looking quite near as crazy as you really are to non-silver bugs in your family....

[Jake]

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[TheLoneRanger]

Jake.. where you might be wrong... is that you bought before you knew how to sell.... Don't worry , I did the same thing with silver nickles.. got mine below spot too.. way back when I first started stacking.. I was totally focused on accumilating, but told myself I was investing.

You can't really call something investing unless you are delibertly pursuing a plan to profit... you might profit while accumilating or collecting or amassing things.. but thats dumb luck... and you can always just hold on to what you have gathered up if prices tank and tell the world you are just collecting ect.

Ahhhh but you are talking about buying to turn a profit, but before you had a plan and had done the due diligence on how to sell for a profit... let war nickles teach you as they taught me to never pull that bone head stunt again.

You will, in all probability, make a profit, and this will be a cheap lesson, simply by selling below spot, just like you bought them, but at a higher spot.

Or you could learn the real lesson of investing, and develop a plan to sell at a profit assuming silver stays at exactly the spot you bought at... a personal challenge to be a better investor or marketer than the guy you bought them from.... how hard can it be... really.... think about how the guy who had to sell sliver below spot when spot was $12.80... ouch.. man that had to hurt.

I threw out a few suggestions, a couple that worked for me... and I still have a couple thousand silver nickles.. but by flipping some well above spot as sets I lowered my per oz cost significantly and thus increased my potential profit even if I was to sell below spot but at a higher spot.

You can also profit emmensely by learning to do due diligence on how to sell an investment at a profit before you invest.

:p welcome to the club of those that had to learn silver the hard way :)

[Jake]

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[SeekrBrnEvryMin]

Who was that Masked Man?

And what does his avatar say?

[TheLoneRanger]

No problem Jake... might help if you kept a journal of ask and buy prices for your various types of silver... and look for patterns.. also don't take your eye off the numismatic market... odd things move markets and effect the ask/bid spread.. Generic WW2 stuff went up 50% across the board when Saving Private Ryan and Band of Brothers came out and then dropped back.. who knows what the next fad or fashion might be that will move one type of silver but not another.. I got some bets in on 1914 and WW1 collectables just incase LOL. Silver nickles are worth a dollar when silver hits $17.80

But hey, look at numismatic values here
http://www.coinflation.com/coins/1942-1945-Silver-War-Nickel-Value.html

Almost all of them are worth a buck now if you can still read the date ... numismatically speaking.

I have 90%, 40% and nickles for shtf too... but that doesn't mean I don't flip the shiny ones, the barbers, the rare ones for more silver.. I sort my mercs from my rosies and when I see mercs going for a premium I flip them for a roll and a half of rosies.

One of the big complaints about physically holding silver is that it just sits there and doesn't pay interest or pay a dividend.. thats not true of coins... the fact that the coins are the one kind of silver that they will not be making more of and that have a secondary value numismatically, but you can still buy them at or near spot negates the only vaild downside complaint about physically holding...

There are some other angles that can be played as well .. if you are doing some numismatic dealing on the side then your coins could be a "coin collection"... normally a private individual simply can't buy insurance on PM bullion.. but some policies will cover "coin collections" there are requirements like the type of safe and an alarm system depending on the policy ect and alot of hoops.. but if you are bogarting a couple bags or more, having them covered ( and covered at numismatic value at that) might be worth the hassle. And while I personally don't believe that the goverment is ever going to be coming to confiscate my silver (or gold for that matter) having at least part of my hoard listed as a collection might be to my advantage if that dark day ever came.

Working the angles means more silver to swap for bread and beans .. not less... of course you are going to miss more than a few reruns of Law & Order sorting all them coins out :p

[TheLoneRanger]

Who was that Masked Man?

And what does his avatar say?

Her avatar says " Better Protection than any pacifist male" refering to Her 870 12ga 3" Mag Shotgun.... :p

[Jake]

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[TheLoneRanger]

Jake no problem... I learned alot from forums and the internet, so I am happy to share... add a column for spread between ask and bid to your speadsheet and watch how different types of silver move relative to each other in premium and ask/bid spread.. each type of silver is a market and law unto itself.

[TheLoneRanger]

Jake.. one more thought.. and please if I am telling you something you already know.. forgive me... but I don't know what you might know.

"No man fears to do what he knows how to do"

If you don't have much experience in bartering.. learn to do it now... if you find some somewhat meritorious coins .. get a table at a coin show... don't just go.. get a table if you can.. it's an education in and of itself... but having a table and coins to sell you will learn the art of bartering... if you are putting as much towards having something to barter with as it sounds.. some time spent practicing the art seems in order. You can also practice being "the mark" by just going to a coin show and trying to sell tham to a dealer or even a local coin store... but I suspect you would rather be the dealer than "the mark" so that is what you must learn and practice.

Swap meets are good as well.. gun shows if you are into that... but avoid being the visitor and the visitor mindset.. be the dealer, the vendor and learn the vendor mindset.. the old hands will help and give you tips.. see how they set up their tables and advertise their wares.. how they work the "visitors/customers" watch observe and learn. good luck.

[SeekrBrnEvryMin]

Her avatar says " Better Protection than any pacifist male" refering to Her 870 12ga 3" Mag Shotgun.... :p

Until the pacifist is one-on-one.

Or arrives after the fact.

The codsack can grow hair fast.