If you’ve ever spent time in prepper communities or read prepping literature, you may have come across the term “hoarding nickels”.
But why do preppers hoard nickels, and what benefits does it offer in a survival scenario?
In this article, we’ll explore the reasons behind nickel hoarding, how it can help you in a crisis, and how you can get started.
Nickel hoarding is one of the lesser-known prepping strategies, but it has its place in a well-rounded survival plan.
While most preppers focus on storing essentials like food, water, and medical supplies, hoarding nickels is an effective way to diversify your prepping portfolio.
In this article, we’ll break down the reasons why preppers hoard nickels and offer a step-by-step guide on how to get started.
What are Preppers?
Before we dive into the specifics of nickel hoarding, let’s take a moment to define what preppers are.
Preppers, short for “preparedness-minded individuals”, are people who take proactive measures to prepare for potential crises or disasters.
They believe in being self-sufficient and self-reliant, and they take steps to ensure they have the necessary resources to survive when the unexpected happens.
There are many reasons why people become preppers.
Some do it out of a sense of responsibility to their families and loved ones.
Others do it as a way to safeguard against economic or political instability.
And some simply enjoy the challenge of living off the grid and being self-sufficient.
Key Elements Takeaway:
Preppers hoard nickels as a form of investment and an alternative currency during potential economic crises, disasters, or societal collapses.
Nickels have a high intrinsic value due to their metal content, which includes 75% copper and 25% nickel, making them a valuable asset in uncertain times.
Hoarding nickels can provide a hedge against inflation and economic instability, as their metal value may increase over time or during periods of financial turmoil.
The stable and widely recognized nature of nickels makes them a practical choice for bartering and trade in a post-disaster scenario where traditional currency may no longer hold value.
While hoarding nickels might not be a primary focus for all preppers, it serves as one of many strategies to build resilience and maintain financial security during challenging times.
Why Do Preppers Hoard Nickels?
So, why do preppers hoard nickels? There are several reasons, and we’ll explore each one in detail below.
Store of Value
One reason preppers hoard nickels is that they serve as a store of value.
A store of value is an asset that can be saved, retrieved, and exchanged at a later time, and that is expected to hold its value.
In the case of nickels, they are made of a combination of copper and nickel, which means they have an inherent value that is separate from their face value.
Inflation can erode the value of paper currency over time, but hoarding nickels can provide a hedge against inflation.
Inflation occurs when the cost of goods and services rises over time, which means that the purchasing power of a given amount of money decreases.
However, the intrinsic value of nickels is not affected by inflation, which means that they can retain their value over time.
Another reason preppers hoard nickels is that they have intrinsic value.
Intrinsic value is the value of an asset that is not related to its face value or its current market price.
In the case of nickels, they have an inherent value due to the metals they contain.
Nickels are made of a combination of copper and nickel, which means they have a scrap value that is higher than their face value.
This means that if the value of the U.S. dollar were to plummet, the nickel content of the coins would still retain value, which makes them a useful asset to have in a crisis scenario.
A third reason preppers hoard nickels is that they are useful for bartering.
Bartering is the exchange of goods or services without the use of money, and it has been a common practice throughout history.
In a crisis scenario, bartering can become a necessary means of obtaining goods and services.
Nickels are a useful asset to have in a bartering situation because they have a fixed value that is widely recognized.
Unlike paper currency, which can be subject to fluctuations in value based on economic conditions, nickels are made of a set combination of metals that give them a consistent value.
In addition, nickels are small and portable, which makes them easy to transport and trade.
They are also durable and can withstand wear and tear, which means that they can be used over and over again in a bartering scenario.
A fourth reason preppers hoard nickels is that they are legal tender.
Legal tender is a form of payment that is recognized by law as valid for the payment of debts and taxes.
In the United States, all U.S. coins and currency are considered legal tender.
This means that if the U.S. dollar were to lose its value in a crisis scenario, nickels could still be used as a form of payment for goods and services.
While it is unlikely that the U.S. government would accept nickels as payment for taxes, they could be used as a means of exchange in a local economy.
How to Get Started with Nickel Hoarding
Now that we’ve explored the reasons why preppers hoard nickels, let’s take a look at how you can get started with your own nickel hoarding strategy.
Determine Your Goals
The first step in any prepping strategy is to determine your goals.
What do you want to accomplish by hoarding nickels? Are you looking to store value? Do you want to have a means of bartering in a crisis scenario? Do you want to diversify your prepping portfolio?
Once you have a clear understanding of your goals, you can start to develop a plan for your nickel hoarding strategy.
Research and Education
The next step is to research and educate yourself about nickel hoarding.
Learn about the history of nickel coins and their intrinsic value.
Find out how much nickels are currently worth based on their metal content.
Study the market trends and historical price fluctuations.
Decide on a Budget
Once you have a solid understanding of nickel hoarding, you can decide on a budget for your hoarding strategy.
Determine how much money you can afford to invest in nickels and how much you want to allocate to other prepping supplies.
The next step is to acquire nickels for your hoarding strategy.
You can purchase rolls of nickels from a bank or online dealer, or you can search for them in circulation.
Look for older coins that have a higher nickel content, as they will have a higher intrinsic value.
Store Nickels Safely
Once you have acquired your nickels, it’s important to store them safely.
Keep them in a cool, dry place, and protect them from moisture and dust.
Consider using a fireproof safe or a secure storage container to keep them safe.
When it comes to preppers and their obsession with hoarding nickels, there are actually a multitude of reasons why they do it.
For starters, nickels are a tangible asset that hold their value even in times of economic uncertainty.
This means that no matter what happens to the stock market or the value of paper currency, your nickels will always be worth their weight in nickel.
But it’s not just about storing value. Preppers also see nickels as a powerful tool for bartering in a crisis scenario.
After all, in a situation where the power grid is down and credit cards are useless, having a stack of nickels on hand could mean the difference between getting the supplies you need to survive and going without.
But the benefits of nickel hoarding don’t stop there.
Nickels are also legal tender, which means they can be used to pay for goods and services just like any other form of currency.
So even if society hasn’t completely collapsed, having a stash of nickels could still come in handy if the cash in your wallet runs out.
So how do you get started with your own nickel hoarding strategy?
Well, it’s all about being prepared and doing your research.
Look for older coins that have a higher nickel content, as they may be more valuable in the long run.
Store your nickels in a safe and secure location to protect them from theft, damage, and natural disasters. And remember, nickel hoarding isn’t just about being paranoid – it’s about taking steps to ensure your own safety and security in an uncertain world.
Have questions about nickel hoarding or prepping in general? Ask our expert panel for advice and insights at https://PreppersPriority.com
Here are some frequently asked questions about nickel hoarding:
What is the nickel content of a nickel?
A nickel is made of a combination of 75% copper and 25% nickel.
Can I melt down my nickels for their metal content?
No. It is illegal to melt down U.S. coins for their metal content.
How much are nickels worth based on their metal content?
As of March 2023, the metal value of a nickel is approximately 6 cents.
Can I use nickels as a form of payment for taxes?
While nickels are legal tender, it is unlikely that the U.S. government would accept them as payment for taxes.
Are nickels a good investment?
Nickels can be a good investment for preppers looking to diversify their portfolios and store value, but they should not be relied on as a sole investment
Is nickel hoarding legal?
Yes, nickel hoarding is legal. However, it’s important to note that it is illegal to deface, melt down, or export U.S. coins for their metal content.
How do I know if a nickel is valuable?
The value of a nickel is based on its metal content and rarity. Look for older coins that have a higher nickel content, such as the Liberty Head or Buffalo nickel. These coins may have a higher intrinsic value than newer coins.
How can I determine the value of my nickel hoard?
The value of your nickel hoard will depend on a number of factors, including the current market value of nickel, the rarity and condition of your coins, and the size of your hoard. You can consult with a coin dealer or use online resources to determine the value of your collection.
How should I store my nickels?
It’s important to store your nickels in a safe and secure location to protect them from theft, damage, and natural disasters. Consider using a fireproof safe, a secure storage container, or a safety deposit box at a bank