The Quotation Of The Day Mailing List |
Quotation of the Day for March 2, 2011"Every single circulating nickel still has 3.75 grams worth of copper each...along with 1.25 grams of nickel. Copper is currently about $4.46/lb. Nickel is currently about $12.97/lb. So if you do the math, each nickel is worth about 7.3 cents. "120 nickels pieces is worth $6.00 at face value. Those 120 coins contain about a pound of copper and 1/3 pound of nickel. That's about $8.76. "You can't cash in on this arbitrage directly (anti-smelting laws for pennies and nickels were introduced in late 2006). But the bullion market for cupronickel coins will develop, just as it did for silver US coins. This will happen once the government starts minting five-cent pieces made out of cheaper metals. "Right now, the government is subsidizing your copper and nickel purchases...and cutting out the middleman. As much as we complain about government, we ought to stop and offer them a little thanks for this one." - Gary Gibson, for The Daily Reckoning. [http://dailyreckoning.com/todays-best-investment-rhymes-with-pickles/] [The submitter notes: This one is maybe a little obscure, but to the person who comprehends what is going on here, this is jaw-droppingly awesome. The U.S. government collects up $0.073 worth of alloy, carefully moulds it into a form that ensures you are getting the genuine article with certified weight and purity, then sells it for a nickel. NO downside. Locked-in 46% profit everytime you palm one.] Submitted by: Duffy OCraven Feb. 19, 2011  |
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