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Your opinion on stocking Canadian nickles?

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DekaPrepper1049
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Your opinion on stocking Canadian nickles?

Postby DekaPrepper1049 » Sun Apr 02, 2017 6:28 am

I have watched a few videos and read some articles on preppers stockpiling coins, mostly americans hoarding nickles. I guess this is to hedge against inflation as metal has been used as currency for hundreds of years. Other people think that after TEOTWAWKI these coins could be melted down into something usable.

Canadian nickles are comprised of different percentages of base metal. Between 1982 and 1999 the Elizabeth II nickle was 75% Copper, 25% Nickel. between 1922 and 1981 the Elizabeth II nickle was made from 99.9 % nickle. The 1942+ George VI nickle was 88% Copper, 12% Zinc, This coins place in history is anomalous and i doubt there are many out there to be had.

"A coin is only worth what someone will pay for it", "You cant eat or drink a piece of metal", These quotes ring in my ears every time i revisit this subject, I cant decide whether this is a good idea or not. I dont have the equipment needed to melt them if i did have any. So i guess my main question would be is stockpiling Canadian nickles to be used for bartering a good option ?

Also, if i did have the equipment to melt and separate the metel in coins, what could you make? Ammunition?
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Re: Your opinion on stocking Canadian nickles?

Postby Antsy » Sun Apr 02, 2017 3:48 pm

My opinion is, "Don't do it." That is, unless you have some information about the future that the rest of us don't.

Now, if you are looking for a hobby and are enthusiastic about coins then I would say, go for it. Your post, however, suggests that you are concerned about some unnamed calamity (Hollywood style) which brings human production to a standstill and breaks up the social order. If that's your fear, go out and buy several rolls of copper wire on credit (because hey, you know the world's ending anyway and who will collect?) and be done with it.

Before you do though, lets do a little exercise together and look at our collective history for the last century. In that time count the number of instances the the "world has ended as we know it" due to some major event. The World Wars?, The birth and evolution of the Nuclear Age?, The Cold War?, the end of the Cold War?, The Digital Age?, Peak Oil?, 911?, and the list goes on and on. It could be argued that in every instance noted above and many more that the world, our world, was forever changed. So one might wonder, "with the benefit of hindsight, how might I have prepared for these radical changes?" Would stockpiling semi precious metals have given me an edge over my neighbour? There is no question that copper prices soared a mere decade ago but would you have sold?

The point I'm making here, is that when something ends, so too does something new begin. The Social Contract appears to persist and it's reasonable to assume that it will continue to do so in the foreseeable future.

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Re: Your opinion on stocking Canadian nickles?

Postby helicopilot » Sun Apr 02, 2017 4:17 pm

This was an American fad because some of their previous coins were largely made out of silver. Those have by large been picked clean out of circulation, so shy of buying pre-sorted bags of those coins from a coin shop, the odds of coming across one are really slim.

I'm not one to tell someone what to do, but maybe there isn't much value in investing time and effort in doing this. If you're interested in precious metals, maybe go for the recognized coins. That way, outside of the realm of TEOTWAWKI, you can still easily turn them in to a metal place and get money easily out of them and leverage them as investment.

A lot of people into prepping get coins with a view that once they've survived the direct aftermath of an apocalyptic event, that they could re-initiate an economic my and use real value "money" as a mean of purchase/wealth.

But like you said, you can't eat or drink nickels so it would be better to get those bases covered first.
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Re: Your opinion on stocking Canadian nickles?

Postby DekaPrepper1049 » Sun Apr 02, 2017 7:29 pm

Unfortunately I do not have any knowledge of what the future holds Antsy, Cannot even trust the weatherman.

The more i think about it the more i conclude that as a bartering tool there are better things to have in stock. I wouldnt want to buy anything on credit just because i hate being in debt, and to hope that the world ends so that my debts become void is no way to live in the mean time.

I also think some people just like the idea of having a large stock of something "just because". Its also visually pleasing to see a organized collection of a certain item that might benefit you down the road dont you think?

To helicopilot, I do have my bases covered when it comes to water and food supply, shelter. Although i do constantly look for ways to improve my preparedness plan,(that work will never be done) my intention now is to find ways to "thrive" after things go south for however long.
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Re: Your opinion on stocking Canadian nickles?

Postby helicopilot » Sun Apr 02, 2017 10:20 pm

You could egaly thrive in the mercantile business if you stockpile manufactured goods now. Open up a trading post with what you first have on hand and people could use: farming tools, seeds, ammunition, etc. Be fait in your business so that you create a good reputation in your area. Trade an oil lamp for 5 live rabbits, raise those rabbits and resell them as 3 rabbits for a bushel of apples. Have your neighbour use some of the rabbits to start his own business, breeding them, etc.

Even if you don't need those items if your lifetime, (because TEOTWAWKI didn't happen...) they can either be used later by your kids or sold at an estate sale. This is unlikely that your heirs would benefit from the sale of 50 lbs of nickels.
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DekaPrepper1049
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Re: Your opinion on stocking Canadian nickles?

Postby DekaPrepper1049 » Tue Apr 04, 2017 4:51 am

I like your idea helicopilot, I have things that could be used for trading but the only thing i would be worried about is, establishing a business like that (in a TEOTWAWKI like situation) is almost like putting a big target on your forehead, unless you trade exclusively with friends and neighbors. I know It might sound odd but I would be stressed out knowing that other people know what I have.

My intention for stocking up bartering goods is not to open up a store, I just want things on hand though that could be used. I have a group of people that I trust that I would trade with, trading with outsiders would make me nervous..

You talk about rabbits! That is actually something I intend to try in the near future, It looks fun, a good source of meat as well.
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Re: Your opinion on stocking Canadian nickles?

Postby jonesy » Sat Apr 08, 2017 9:39 pm

Don't do it.

Time is better spent arranging a source of water collection, gardening, or protecting personal property (burglar proofing?) than picking through nickels nobody will want. Unless zombies / invading Chinese, etc only deal in or can only be dispatched with nickel products.

Water collection especially, even in an urban setting/condo. Yes, it can be done!
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Re: Your opinion on stocking Canadian nickles?

Postby Lee Enfield » Sun Apr 09, 2017 3:10 pm

I'm a "casual" nickel saver. I glance at my pocket change at the end of the day for any pre-'82 nickels and toss them in a bowl. Some cold, dark evening I will watch TV and roll nickels. Very little effort. I might as well have a few before the powers-that-be melt them all.

Another, possibly better, idea is to save pre-2012 two dollar coins (toonies). The outer ring was nickel before 2012. 2012 and after is plated steel. Pluses are: 1) more value in less space, 2) when short on cash, a handful of twos is, well, handy, 3) historically, when a fiat currency collapses, the paper money is recalled but the coins are not, 4) one can usually put at least one aside per day.

Just my two, er, five cents.
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Re: Your opinion on stocking Canadian nickles?

Postby Devil_dog_3500 » Sat May 20, 2017 7:49 am

If you cannot eat it, drink it, or use it to survive then it is not worth stocking up. If you cannot do anything more with it than barter it is taking up valuable space. That goes for most items. So if you can think of multiple ways to use nickels then it is worth it. If only one maybe to but you don't know how or have the equipment look to other items. Better yet learn skills to make items you can barter.
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