With respect to silver coinage, the well seems to be drying up amid lots of new competition. But what if there was a similar strategy that was available today that could yield massive gains and effectively no cost to you?
Meet the nickel hoarders. This small, secretive community of coin enthusiasts is spread throughout North America, but they gather on an insidery Internet forum called Realcent.
It may sound nutty, but their logic is fairly sound: If history is any indication, the hoarders may not have long. Inwith the price of silver climbing, the U.
Mint diluted the composition of both the dime and the quarter. It did the same thing to the penny in when copper became too expensive. In every case, the composition change caused the value of the original coin to skyrocket: And with the U. But as coin values climb, pressure on the U.
Mint to lift the melt ban is getting stronger, and hoarders think the Treasury will eventually give in. In the meantime, some have already figured out how to make a tidy profit off the nickel rush.
Adam Youngs, 23, runs Portland Mint, an Oregon business that sells nickels in bulk to serious hoarders: He estimates that since he launched the company two years ago, he has served about 10, people—and the number is growing every day. Lately, Realcent has been filled with nervous chatter about anonymous competitors lurking in their neighborhoods.
But individual investors have their reasons too.Read the latest stories about Finance on Fortune. This list of words and phrases is in no sense leslutinsduphoenix.com is a work in progress.
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