Endangered Nickels

An article linked about a week ago on this blog suggested buying bags of nickels from banks since their melt value exceeds their purchasing power.  Well, now the gubermint is getting all freaked out and since they can’t find anything better to do with their time have decided to make a law banning the melting of coins.  If caught in the act, you can spend up to five years in jail and get hit with a $10,000 fine.  Poppycock I say!  See coinflation.com for some more info.  They track appreciation of most U.S. monetary coins, both past and present.  I am fascinated with the value of some of the older silver coins.  It all makes sense once you stop and realize that the US dollar has lost 96% of its purchasing power since the Federal Reserve was created in 1913 to help “fight inflation.”  Once upon a time, survivors from the Great Depression would hide their savings under mattresses and in cookie jars.  Anybody doing that today would lose the game, big time.  Unless, of course, they were only saving coins.



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