@BurkulesPrime Yeah, I did. Like most boxes of pennies, I avereged a little better than $5.00 face value per $25 box. I even scored a few old Canadian pennies 2 1940, one 1952, and one 1951. Also got a blank penny, I weighed it and it's a post 1982. If you are in Canada you are lucky to have those good pre 1982 nickels. I think I'll get another $100 in pennies next week. Thanks for asking!
folks as of jan 2 2011 us nickels are worth 135% of their face value! so go to the bank buy a 100.00 box of nickels walk out with 135.00 worth of metal. I have approx 1,200.00 in nickels mostly loose in a 5 gal jug but also unopened mint bags of the new buffalo nickels 20-50 $ bags. I also save copper pennies but just what i pull from pocket change! the portland mint sells 100.00 face value of pre 82 pennies but a hefty charge, but still under melt value!
Plus if pennies are abolished and completely pulled from circulation the pre-1982 ones will command an even higher price since they'll be harder to get.
If there's deflation pennies will still be worth 1 cent. If there's inflation they will go up in value. At current prices they are worth .026 cents each. It's a win win situation.
No problem, just remember pennies have "real" value, paper bills don't. If the US dollar totally crashes, pennies will still be able to be used to buy things.
In 1982 the US minted both 95% copper pennies and then later in that same year switched to pennies that were copper plated zinc. I usually just treat all 1982 US pennies as being avoidable because I don't feel like having to sort the "good" 1982's from the "bad" 1982's. Even at the moment all pre 1982 pennies have a current melt-value of 2.4 cents each, not bad huh?
@2000xlt I thought it was the '82 and earlier but I double checked and the video guy is right. Which means I got to go back and go through all those damn pennies.....
US nickels are great because they need no sorting (unless you want to look for the silver ones, which are quite uncommon at this point). I don't do anything with my change except take it home -- I may as well stock up on cents and nickels.
YES SIR! I get 20.00 (10 rolls of nickels) every payday. plus 4... 25.00 sealed bags from the mint(05 buffalos) and if u still are not convenced understand the us mint is looking to change nickels into something else. that 25% nickel is killing them. once this happens your "old" nickels will be worth alot more then the .06 now. as of today copper is over 3 a lb.
Well in regard to American nickels, they're 75% Copper and 25% Nickel. I'm not really sure what you mean by fake, whether you mean counterfeit or simply not nickel however the compostion for American nickels has been the same from 1946 to the present. All real American nickels should weigh exactly 5 grams if they're real. The melt value for all American nickels from 1946 to the present is $0.06, not bad since you can get them for $0.05, that's a 20% profit.
I've been saving and sorting through all the change I get for a few months now. You're absolutely right. Pre-1982 pennies (american) and nickels (american) from any years. Good video.
Like you said, there is no harm in saving them either
Another way is to strip scraps of copper wire cut the insulation off with a knife not burn it as it is worth more money.Buy old electrical equipment at car boot sales and strip the copper out. If you think copper is going to go a lot higher what about buying new copper plumbing tubing in bulk when it is on sale,that way you have the metal and the saleable tubing.
Yea just be sure when you cut copper wires that it's not a live wire or it's game over, lol. I've heard in the news from time to time over the last few years about people trying to steal copper by cutting copper wires in public places only to then get electrocuted.
The only problem with buying copper plumbing tubing is you wouldn't be able to buy it anywhere near melt value, probably several times more then melt value. However I have stripped old copper wire spools I had laying around.
Even steel pennies have value... any type of metal has value. Aluminum is really awesome, copper is a fantastic metal! I agree with you 100% that a copper penny has got the advantage of being worth more than it's face value!
It's a great arbitrage opportunity to pick out copper pennies.
In 10 years we'll be amazed at how lucky we were to be handling copper pennies and selling them off for nothing. In 10 years I imagine the copper and nickel coins will all be picked out of circulation, where a copper penny will be as rare as finding a silver dime.
And why shouldn't that happen. Thank god for foresight, eh?
1982 American pennies go either way. You have to weigh the 1982 to know for sure. 3.1 grams it's real 2.5 it's fake. It seems bout 1/3 of the 1982 are real.
Hey, smart idea, awesome video. Thanks a lot for sharing. Nickel is actually a very good investment. When you look back 50 years later, you'd for sure regret if you didn't buy nickel at cheap face value.
I would avoid copper bullion bars as the premiums for those are insane. I've often seen copper bars on ebay with a buy-it-now price 4 to 5 times over melt-value. If you are to buy copper coins, the best way is to go in a bank and get as many rolls as you can carry and take out all the copper ones. Plus you can buy them at face-value so you can't lose.
It's great if you can get your hands on copper/nickel coins but unfortunately virtually every country today now uses steel coins which have almost no metal value at all. I actually also have a few old silver English coins. At first it was really confusing understanding pre-decimal british coins. 12 Pence=1 Shilling and 20 Shillings=1 Pound=240 Pence. Then Crowns and Half-Crowns, I had to look it up to understand how it worked. lol
People really ought to purchase silver and acquire copper, via pennies. Silver is such a great buy and should make exponential gains. Copper ought to go to $40 per pound.
Just be very careful when buying scrap jewelry that you know exactly how much precious metals is in them. I have bought some scrap chains and rings and was able to buy them for spot. Try to avoid jewelry stores as they always charge huge "jeweller markups" because of course the costs associated in making the jewelry plus then "profit" and "taxes". It's best to buy jewelry from scrap trays in coin shops or flea markets as well as from person-to-person private sales.
I have some scrap silver coins in case TSHTF. However I am worried that when the starving multitudes that have failed to plan for a monetary collapse realize that I have PM coins, they may think that I am wealthy and try to rob-I. So based on the experience of a man who survived Argentina's recent collapse, I am buying used personal jewelry, like rings and chains which can be cut w/pliers link by link as a crude barter that won't draw attention.
The beauty of small denomination coins that are in circulation, is that not only do you have protection against inflation if the metal value increases above face value, but they are also protection against DEFLATION as their face value will of course buy you just as much as the same value as paper banknotes. So with these coins you are essentially protected in either scenario with no premium's and potential numismatic value when they are taken out of circulation and melted by the govt
The premium on any specialty product in copper or zinc would almost certainly be too high. You'd do better to buy some junk silver dimes for the same amount of money (mebbe $US1.20 each), since they're almost at spot for silver, and won't weigh as much, or take up as much space.
If you just want copper, just buy some rolls and sort 'em out. You'll end up doing much better. =^[.]^=
I agree with Raycheetah, the premiums on copper bullion bars/bricks are often several times more then melt-value. I've often seen copper bars on Ebay with buy-it-now prices that were 500% over spot, which is just insane. I would recommend buying junk silver or even better, saving every pre-1982 American penny you can get your hands on since you can get them for face value. American nickels are great as well, it's better to hold them rather then paper banknotes.
By the way, for an interesting range of exotic metals for investment purposes, Google: "Cohen Mint."
I dunno if I'd buy Niobium rounds, for example, but it's interesting to see. This site is also a good illustration of the high premiums you might pay for smaller units of PMs. Pretty stuff, nonetheless. =^[.]^=
I've been on that website before, it does have a lot of interesting rare uncommon metals, you can even buy Rhodium on there. I agree, one problem though I found most of the bullion on that site have very high mark-ups over spot.
Think of copper pennies and nickels as tomorrow's "junk silver." By the way, even the copper-plated zinc pennies have been hovering around their face value in zinc, the past couple of years.
This isn't a big investment opportunity, simply because of the weight to value ratio. But in the event of a currency collapse, pennies will become the natural small change of "crisis currency," and will certainly be of more value than fiat paper. =^[.]^=
There must be something to this. In Atlanta the homeless rip the homes of their copper. The cause thousands of dollars worth of damage to get the copper piping.
That's true, but unfortunately most people still view pennies as a waste of time and not being worth anything. But when fiat currencies fail, it's only the paper banknotes that fail, the coins never become worthless.
You probably can buy them, though I don't think you would be able to buy them for melt-value. Since there are costs associated with making them plus the electrical supplier also wants to earn a profit as well. Just like if you were to buy gold jewelry from a store, they wouldn't sell it to you for melt-value. The cheapest way to buy copper would be pennies. Even at times when pennies are worth more then face value, you can still get them for face value, which is a really great deal.
Copper also as antimicrobial properties and is known to kill bacteria and also pathogens. Silver does the same thing. Copper is also essential in all plants and animals.
Assuming the current fiat monetary system does not change the funny thing is we will just continue to have inflation eat away at our paper savings until even then Steel will be too expensive to use in coinage. What do you use for coins then? Plastic? Wood? Eventually inflation will be so bad, coins will all become metaphorical!
Very good point and it's a great thing to get your kids to do for you..and to teach them the importance of value. From what I understand, the Canadian's don't even allow someone to pay in pennies. Hey, Pm lovers..get your kids on this.
I Love this Video and also I checked out your Channel. Very interesting! If you need any help getting this Video and your Channel exposed to were it is top in all the search I found this site called tubeviews.(net) that has took my breath away. I'm working on my 4th Channel now, this one I just made. My Videos are getting so many hits now. Check it out and keep in touch.
Copper and nickel are essentially a store of value. As inflation increases, the ability to obtain junk copper and nickel UNDER melt value is a great opportunity.
You are far better off with all your wealth in pennies (a store of value) then $100 notes (A fiat currency)
When the face value is more then melt value, label it a fiat currency. When melt value exceeds face value, label it money.
Silver and Gold are still vital however with larger transactions due to their scarcity
I'm aware that copper was used during the Roman times to debase gold and silver coins, however it's not fair to blame copper for this but rather the irresponsibility of the Roman government. Any monetary system in a country is only ever as good as the integrity of the government that runs such country. I'm simply saying there's no reason why copper coinage can't coexist alongside that of gold coinage and silver coinage as it always has.
Silver is too expensive to be used as the smallest circulation coin in a country. Even a gram of silver which is small is about $0.38 US, what happens in the case where you want to pay for something that's equivalent to 5 cents or less? A 1/10 gram coin would be so small it would blow away in the wind and people would lose it easily. That's then where copper coins come into play, copper coins are great for tiny transactions so that you can break the amount down to exact change.
Copper has always been used to make the smallest denomination coin for virually every country in the world because it's works. Copper like silver and gold has stood the test of time. Copper is great for tiny transactions, silver is great for average transactions and gold is great for large transactions.
I agree copper is not considered rare especially when compared to silver and gold and that the market could be flooded, however silver and gold though more difficult to do so are not flood proof. During the 1500's and 1600's the world silver market was flooded and inflation existed with silver due too the massive amounts of silver coming out of Spain's colonies in North and South America. Don't get me wrong, I love silver and gold but I also feel copper deserves respect as well.
Are copper nickels pre 1982 also?
stormspottter 1 month ago
@stormspottter
American pre-1982 nickels as well as post-1982 nickels are made of 75% copper and 25% nickel. Canadian pre-1982 nickels are made of 100% nickel.
XonixRogotta 3 weeks ago
Copper is $2 a pound? It was just $4.60 a pound or 3 cents each. It has gone down now with normal fluctuations in the market
dishesdealer417 6 months ago
@dizastahkid
Thanks, i appreciate it.
XonixRogotta 10 months ago
I getting $200 in pennies from the bank to sort next week! I didn't laugh...
BurkulesPrime 11 months ago
@BurkulesPrime
Did you end up getting your $200 in pennies from the bank?
XonixRogotta 11 months ago
@BurkulesPrime Yeah, I did. Like most boxes of pennies, I avereged a little better than $5.00 face value per $25 box. I even scored a few old Canadian pennies 2 1940, one 1952, and one 1951. Also got a blank penny, I weighed it and it's a post 1982. If you are in Canada you are lucky to have those good pre 1982 nickels. I think I'll get another $100 in pennies next week. Thanks for asking!
BurkulesPrime 11 months ago
Hey kids! check out Js Copper Palace of Pennies on Youtube...its a riot.
jjpeterson1 1 year ago
I realize this video is somewhat dated, but it's a great point. Good stuff!!!
veritasfiles 1 year ago
folks as of jan 2 2011 us nickels are worth 135% of their face value! so go to the bank buy a 100.00 box of nickels walk out with 135.00 worth of metal. I have approx 1,200.00 in nickels mostly loose in a 5 gal jug but also unopened mint bags of the new buffalo nickels 20-50 $ bags. I also save copper pennies but just what i pull from pocket change! the portland mint sells 100.00 face value of pre 82 pennies but a hefty charge, but still under melt value!
johnywinslow 1 year ago
@johnywinslow
Plus if pennies are abolished and completely pulled from circulation the pre-1982 ones will command an even higher price since they'll be harder to get.
XonixRogotta 1 year ago
@johnywinslow and it is about to hit $13 nickel and $4.60 copper.
davidlee110 1 year ago
Gold, Silver and even Copper in my opinion is worth so much more than monopoly paper money.
SpiritSphere12 1 year ago
Great Video!! I added my nickels and pre-82 pennies to my precious metal collection
toddig 1 year ago
If there's deflation pennies will still be worth 1 cent. If there's inflation they will go up in value. At current prices they are worth .026 cents each. It's a win win situation.
Ivestor1 1 year ago
cool. thanks for the info!!
2000xlt 1 year ago
thank you for the video!! i appreciate it
2000xlt 1 year ago
@2000xlt
No problem, just remember pennies have "real" value, paper bills don't. If the US dollar totally crashes, pennies will still be able to be used to buy things.
XonixRogotta 1 year ago
i thought us pennies were 82 and prior were copper with a very few of 83 that happened to be copper...which is an error
2000xlt 1 year ago
@2000xlt
In 1982 the US minted both 95% copper pennies and then later in that same year switched to pennies that were copper plated zinc. I usually just treat all 1982 US pennies as being avoidable because I don't feel like having to sort the "good" 1982's from the "bad" 1982's. Even at the moment all pre 1982 pennies have a current melt-value of 2.4 cents each, not bad huh?
XonixRogotta 1 year ago
@2000xlt I thought it was the '82 and earlier but I double checked and the video guy is right. Which means I got to go back and go through all those damn pennies.....
acuriousbeast 1 year ago
I smoke old stogies I have found, short but not too big around.
I'm a man of means, by no means king of the road.!! - no really, i think your cool
and actually 'on the money' thanks for sharing your angle.
fargonebewdy 1 year ago
i live in malaysia asia--where do i get hold of copper pennies--help anyone pls
yazafara 1 year ago
US nickels are great because they need no sorting (unless you want to look for the silver ones, which are quite uncommon at this point). I don't do anything with my change except take it home -- I may as well stock up on cents and nickels.
chert95 1 year ago
Comment removed
janius777 1 year ago
I went to a casino that still uses coins, put a 50.00 bill in the machine cashed out, lol alot of freekin nickels!lol
johnywinslow 1 year ago
Great vid! At the same time, shut up, I still want to find real money in my change.
Peace.
hivedrone83 1 year ago
YES SIR! I get 20.00 (10 rolls of nickels) every payday. plus 4... 25.00 sealed bags from the mint(05 buffalos) and if u still are not convenced understand the us mint is looking to change nickels into something else. that 25% nickel is killing them. once this happens your "old" nickels will be worth alot more then the .06 now. as of today copper is over 3 a lb.
johnywinslow 1 year ago
good info how can u know real nickel vs fake nickel other then looking at the date?
samking12 1 year ago
@samking12
Well in regard to American nickels, they're 75% Copper and 25% Nickel. I'm not really sure what you mean by fake, whether you mean counterfeit or simply not nickel however the compostion for American nickels has been the same from 1946 to the present. All real American nickels should weigh exactly 5 grams if they're real. The melt value for all American nickels from 1946 to the present is $0.06, not bad since you can get them for $0.05, that's a 20% profit.
XonixRogotta 1 year ago
I've been saving and sorting through all the change I get for a few months now. You're absolutely right. Pre-1982 pennies (american) and nickels (american) from any years. Good video.
Like you said, there is no harm in saving them either
Firebirrd85 1 year ago
yeah dude i was just joking around , great videos
Slickpete83 1 year ago
Another way is to strip scraps of copper wire cut the insulation off with a knife not burn it as it is worth more money.Buy old electrical equipment at car boot sales and strip the copper out. If you think copper is going to go a lot higher what about buying new copper plumbing tubing in bulk when it is on sale,that way you have the metal and the saleable tubing.
pwbpeter 1 year ago
@pwbpeter
Yea just be sure when you cut copper wires that it's not a live wire or it's game over, lol. I've heard in the news from time to time over the last few years about people trying to steal copper by cutting copper wires in public places only to then get electrocuted.
XonixRogotta 1 year ago
@pwbpeter
The only problem with buying copper plumbing tubing is you wouldn't be able to buy it anywhere near melt value, probably several times more then melt value. However I have stripped old copper wire spools I had laying around.
XonixRogotta 1 year ago
i thought it was illegal to melt down/ destroy money lol....
Slickpete83 1 year ago
@Slickpete83
Yes it is. I'm not saying to melt them down, i'm just saying to hoard them in order to hedge against inflation.
XonixRogotta 1 year ago
5 stars
constant56 1 year ago
Even steel pennies have value... any type of metal has value. Aluminum is really awesome, copper is a fantastic metal! I agree with you 100% that a copper penny has got the advantage of being worth more than it's face value!
qlcmusic 1 year ago
It's a great arbitrage opportunity to pick out copper pennies.
In 10 years we'll be amazed at how lucky we were to be handling copper pennies and selling them off for nothing. In 10 years I imagine the copper and nickel coins will all be picked out of circulation, where a copper penny will be as rare as finding a silver dime.
And why shouldn't that happen. Thank god for foresight, eh?
AndyMH182 2 years ago
Great video Xonix!
WhyMeWhySilver 2 years ago
Thank you.
XonixRogotta 2 years ago
If you are interested in this concept check out realcent at forumco (search it). Lots of discussion on copper bullion on this forum.
legacypac 2 years ago 2
What's up with ebay? People paying $150 or higher to get 34 lbs of copper pennies!
onemindonespirit 2 years ago
1982 American pennies go either way. You have to weigh the 1982 to know for sure. 3.1 grams it's real 2.5 it's fake. It seems bout 1/3 of the 1982 are real.
deedub87 2 years ago
Hey, smart idea, awesome video. Thanks a lot for sharing. Nickel is actually a very good investment. When you look back 50 years later, you'd for sure regret if you didn't buy nickel at cheap face value.
GoldSilver588 2 years ago
Excellent video. No laughing here. What about buying copper bullion bars and coins? Would think that it would be a good investment too.
onemindonespirit 2 years ago
I would avoid copper bullion bars as the premiums for those are insane. I've often seen copper bars on ebay with a buy-it-now price 4 to 5 times over melt-value. If you are to buy copper coins, the best way is to go in a bank and get as many rolls as you can carry and take out all the copper ones. Plus you can buy them at face-value so you can't lose.
XonixRogotta 2 years ago
ive been collecting copper pennys and nickle english coins
1p 2p 5p 10p coins
cheap way to invest :)
RainstormGB 2 years ago
It's great if you can get your hands on copper/nickel coins but unfortunately virtually every country today now uses steel coins which have almost no metal value at all. I actually also have a few old silver English coins. At first it was really confusing understanding pre-decimal british coins. 12 Pence=1 Shilling and 20 Shillings=1 Pound=240 Pence. Then Crowns and Half-Crowns, I had to look it up to understand how it worked. lol
XonixRogotta 2 years ago
People really ought to purchase silver and acquire copper, via pennies. Silver is such a great buy and should make exponential gains. Copper ought to go to $40 per pound.
TenderTrap86 2 years ago
Upon seeing your vid I added it to my play lists to keep the figures straight.
I am just as enthusiastic about copper pennies as you are.
Ive been buying silver while collecting scrap copper, aluminum and steel.
The pennies are great looking little coins, and in a nearby small college town I couldnt believe how many copper pennies I got out of rolls.
I think that in the smaller towns that coins really dont leave the local economy. I actually got a 51 Wheat Penny :P
seekerofgod7777777 2 years ago
canadian pennies from 98-99 are zinc...
alleyghost 2 years ago
1997 pennies are zinc as well. 97-99.
XonixRogotta 2 years ago
Just be very careful when buying scrap jewelry that you know exactly how much precious metals is in them. I have bought some scrap chains and rings and was able to buy them for spot. Try to avoid jewelry stores as they always charge huge "jeweller markups" because of course the costs associated in making the jewelry plus then "profit" and "taxes". It's best to buy jewelry from scrap trays in coin shops or flea markets as well as from person-to-person private sales.
XonixRogotta 2 years ago
Thanks for your reply.
I have some scrap silver coins in case TSHTF. However I am worried that when the starving multitudes that have failed to plan for a monetary collapse realize that I have PM coins, they may think that I am wealthy and try to rob-I. So based on the experience of a man who survived Argentina's recent collapse, I am buying used personal jewelry, like rings and chains which can be cut w/pliers link by link as a crude barter that won't draw attention.
198madman 2 years ago
The beauty of small denomination coins that are in circulation, is that not only do you have protection against inflation if the metal value increases above face value, but they are also protection against DEFLATION as their face value will of course buy you just as much as the same value as paper banknotes. So with these coins you are essentially protected in either scenario with no premium's and potential numismatic value when they are taken out of circulation and melted by the govt
mlndstream 2 years ago
That's why more people should hold coins rather then paper banknotes. Coins are an insurance policy in case paper fails.
XonixRogotta 2 years ago
Would You recommend a copper or zinc 1Kg bullion brick for a poor man's investment, or do you think that the premium is too high?
198madman 2 years ago
The premium on any specialty product in copper or zinc would almost certainly be too high. You'd do better to buy some junk silver dimes for the same amount of money (mebbe $US1.20 each), since they're almost at spot for silver, and won't weigh as much, or take up as much space.
If you just want copper, just buy some rolls and sort 'em out. You'll end up doing much better. =^[.]^=
Raycheetah 2 years ago
I agree with Raycheetah, the premiums on copper bullion bars/bricks are often several times more then melt-value. I've often seen copper bars on Ebay with buy-it-now prices that were 500% over spot, which is just insane. I would recommend buying junk silver or even better, saving every pre-1982 American penny you can get your hands on since you can get them for face value. American nickels are great as well, it's better to hold them rather then paper banknotes.
XonixRogotta 2 years ago
By the way, for an interesting range of exotic metals for investment purposes, Google: "Cohen Mint."
I dunno if I'd buy Niobium rounds, for example, but it's interesting to see. This site is also a good illustration of the high premiums you might pay for smaller units of PMs. Pretty stuff, nonetheless. =^[.]^=
Raycheetah 2 years ago
I've been on that website before, it does have a lot of interesting rare uncommon metals, you can even buy Rhodium on there. I agree, one problem though I found most of the bullion on that site have very high mark-ups over spot.
XonixRogotta 2 years ago
Think of copper pennies and nickels as tomorrow's "junk silver." By the way, even the copper-plated zinc pennies have been hovering around their face value in zinc, the past couple of years.
This isn't a big investment opportunity, simply because of the weight to value ratio. But in the event of a currency collapse, pennies will become the natural small change of "crisis currency," and will certainly be of more value than fiat paper. =^[.]^=
Raycheetah 2 years ago
There must be something to this. In Atlanta the homeless rip the homes of their copper. The cause thousands of dollars worth of damage to get the copper piping.
raybonent 2 years ago
Even with the copper you doubled your money. Why would anyone laugh at a double?
MrBankRuns 2 years ago
That's true, but unfortunately most people still view pennies as a waste of time and not being worth anything. But when fiat currencies fail, it's only the paper banknotes that fail, the coins never become worthless.
XonixRogotta 2 years ago
You can buy copper grounding rods from electrical suppliers. Are those a good bargain?
ignoblius 2 years ago
You probably can buy them, though I don't think you would be able to buy them for melt-value. Since there are costs associated with making them plus the electrical supplier also wants to earn a profit as well. Just like if you were to buy gold jewelry from a store, they wouldn't sell it to you for melt-value. The cheapest way to buy copper would be pennies. Even at times when pennies are worth more then face value, you can still get them for face value, which is a really great deal.
XonixRogotta 2 years ago
copper comes in many forms. Job sites often have left over wire laing around. Copper can be accumulated quickly.
i am LOL @ those who value the ponzi paper. Am reeducating my neighbors. True value is in the garden, in the community and in my heart.
1mealperday 2 years ago
Copper also as antimicrobial properties and is known to kill bacteria and also pathogens. Silver does the same thing. Copper is also essential in all plants and animals.
XonixRogotta 2 years ago
no you dont look insane, its simply smart. nice video. Ive been stocking up on nickels
aktlc123 2 years ago
King Solomon had a copper mine
RuleBySecrecy007 2 years ago
The problem is that US pennies are ILLEGAL to melt, unlike US junk silver..
Check it out...
Something to think about...
wientzer 2 years ago
Only until the U.S. decides to use a different alloy, like steel. Then that "lightswitch law" will be turned off.
geckster109 2 years ago
Assuming the current fiat monetary system does not change the funny thing is we will just continue to have inflation eat away at our paper savings until even then Steel will be too expensive to use in coinage. What do you use for coins then? Plastic? Wood? Eventually inflation will be so bad, coins will all become metaphorical!
XonixRogotta 2 years ago
Very good point and it's a great thing to get your kids to do for you..and to teach them the importance of value. From what I understand, the Canadian's don't even allow someone to pay in pennies. Hey, Pm lovers..get your kids on this.
CosmicDramaQueen 2 years ago
This has been flagged as spam show
I Love this Video and also I checked out your Channel. Very interesting! If you need any help getting this Video and your Channel exposed to were it is top in all the search I found this site called tubeviews.(net) that has took my breath away. I'm working on my 4th Channel now, this one I just made. My Videos are getting so many hits now. Check it out and keep in touch.
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Braydonsdff 2 years ago
Nice video!
Copper and nickel are essentially a store of value. As inflation increases, the ability to obtain junk copper and nickel UNDER melt value is a great opportunity.
You are far better off with all your wealth in pennies (a store of value) then $100 notes (A fiat currency)
When the face value is more then melt value, label it a fiat currency. When melt value exceeds face value, label it money.
Silver and Gold are still vital however with larger transactions due to their scarcity
FreedomAct10 2 years ago 2
I agree, however copper was used to debase the gold and silver coins in the roman empire until it was 100% copper.
It's true copper will always have value but it's not rare enough to be money and thus the market could get flooded with them.
davincij15 2 years ago
I'm aware that copper was used during the Roman times to debase gold and silver coins, however it's not fair to blame copper for this but rather the irresponsibility of the Roman government. Any monetary system in a country is only ever as good as the integrity of the government that runs such country. I'm simply saying there's no reason why copper coinage can't coexist alongside that of gold coinage and silver coinage as it always has.
XonixRogotta 2 years ago
Silver is too expensive to be used as the smallest circulation coin in a country. Even a gram of silver which is small is about $0.38 US, what happens in the case where you want to pay for something that's equivalent to 5 cents or less? A 1/10 gram coin would be so small it would blow away in the wind and people would lose it easily. That's then where copper coins come into play, copper coins are great for tiny transactions so that you can break the amount down to exact change.
XonixRogotta 2 years ago
Copper has always been used to make the smallest denomination coin for virually every country in the world because it's works. Copper like silver and gold has stood the test of time. Copper is great for tiny transactions, silver is great for average transactions and gold is great for large transactions.
XonixRogotta 2 years ago
I agree copper is not considered rare especially when compared to silver and gold and that the market could be flooded, however silver and gold though more difficult to do so are not flood proof. During the 1500's and 1600's the world silver market was flooded and inflation existed with silver due too the massive amounts of silver coming out of Spain's colonies in North and South America. Don't get me wrong, I love silver and gold but I also feel copper deserves respect as well.
XonixRogotta 2 years ago