Profile image
By SurvivalBlog (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

2013 Coin Debasement Formally Announced: When a Nickel Won't Contain Any Nickel

Wednesday, November 28, 2012 20:00
% of readers think this story is Fact. Add your two cents.

Well, I’ve been warning you since 2009, folks. The Wall Street Journal has just reported: Treasury to Cut Costs by Remaking Coins, Replacing Paper. Treasury Secretary Tim Geithner has now spoken. This debasement, under the kinder and gentler phrase “introducing more cost-effective materials” will begin in 2013. While the precise changeover date and the exact composition of the new penny and nickel have not yet been announced, I suspect that it will take place early in 2013 and the new coins will be made of stainless steel. (With a copper plating, for the penny.) The ravages of inflation made the change inevitable. The Journal reported: “The cost of making pennies and nickels are about twice the face value of the coins–2.4 cents for a penny and 11.2 cents for a nickel, the Treasury Department said earlier this month.”

You gave been warned. The clock is now ticking. I strongly urge you togo to your local bank or credit union, and ask them to order you some $200 U.S. Mint boxes of nickels. In just a few years, after the debasement is completed and the rational self interest of Gresham’s Law psychology purges all of the real cupronickel nickels from circulation, rolls of pre-2013 nickels will sell at a substantial premium. Because nickel is a base metal, this premium will never be as high as that for silver coins, but at least you’ll know that you hold some genuine money that will hold its value, even if the Quantitative Easing monetization process continues indefinitely. (Quantitative Easing is debasement of the dollar, writ large.)

In addition to hedging against gradual inflation, holding nickels will also provide you insurance against the less likely sudden revaluation of the Dollar. As I’ve explained previously, if a zero is ever lopped off the Dollar, new paper currency will be issued, but the old coinage will still circulate. (Since it would be too expensive to replace.) This will make anyone holding coins the beneficiaries of an overnight 10X gain.

This is your last chance to stock up on nickels at face value, folks! If you don’t already have four or five .30 caliber ammo cans full of rolls of nickels, then you are behind the power curve. Don’t dawdle any longer.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Total 2 comments
  • Anti-Zion

    Looks like they will have to move the printing of these new coins to China to keep costs down to me

  • Louis

    US dollars and US coins = toilet paper and base metal slugs.

Top Stories
Recent Stories



Top Global

Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.