Two Cents are Not Created Equal

Here’s a tip for people who are

  • concerned about long term disruptions of service,
  • do not have a lot of resources to invest
  • do have a little bit of time.

Let’s check out your coinage.  Who doesn’t have a jar or heap of coins sitting around, rolling around the floorboard of the car, or even some down in the couch cushions?  Surprisingly enough, those coins can be worth more than you think!  The easiest ones to work with are the pennies and nickels. 

I’ll wait just a moment while you grab a handful….

OK.  Let’s check them out.  Run through your coins to see if you have any 1982 and earlier pennies and/or 2011 and earlier nickels.  When the time comes, these will be some good barter tender.

“Why in the world would pennies and nickels be good for bartering???” you may ask.  It’s an honest question, given the limited value we place on them now. 

First and foremost, most people are familiar with them and they have a quantified value.   They are also a couple of small items that you can keep on hand and spend now or later as you need to.   As for storage, you can put them together into an ammo box and tuck it away or into a glass container for an “artsy” look.

Here’s the best part, though –

  • 1946-2011 nickels are 75% copper
    • Currently a nickels melt value is $0.055.  That’s 110% of its face value!
  • 1909-1982 pennies are 95% copper
    • A penny’s melt value is $0.025.  That’s 250% of its face value!

What a return on an investment!  I sure wish my retirement account performed so well.  smiley

Someday, those “worthless” pennies and nickels may be able to get your family that loaf of bread you need to make it through the next day.

 

Source for melt value of coins http://www.coinflation.com/

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