Warren M. wrote to mention that in their 2010 planning document, the US Mint is now considering a new, less expensive composition for the US Nickel. (The five-cent piece.) The Mint document states: “…the unit costs to manufacture the one-cent coin (penny) and 5-cent coin (nickel) are more than their face value for the third consecutive fiscal year. Changing the composition of all circulating coins to less expensive materials would ultimately result in significant taxpayer savings without compromising the utility of these coins. Accordingly, the United States Mint plans to work with the Department of the Treasury and the Congress to examine alternatives to mitigate the effect current metal prices are having on circulating coinage…” Just as I warned, the window of opportunity for amassing the current composition nickels may soon close. Fill a ammo can or two with nickels now, while you can still get 75% copper / 25% nickel five-cent pieces at face value! Gee, if they made all the coins out of steel, they’ll be handy to beat into arrowheads, after Helicopter Ben totally collapses the economy.
In The Wall Street Journal: Fed Sees Up to $599 Billion in Bank Losses: Worst-Case Capital Shortfall of $75 Billion at 10 Banks Is Less Than Many Feared; Some Shares Rise on Hopes Crisis Is Easing. Are they in touch with reality? Real estate values are still plummeting, and foreclosures are due for another spike in 2010 and 2011 (as ARMs rates reset), so any such “hopes” are just wishful thinking.
A reader in England noted that silver ingot jewelry which was produced in large quantity for the Queen’s Silver Jubilee (in 1977) can sometimes be found selling below the spot value of silver on various Internet auction sites. My advice to SurvivalBlog readers in the UK is to watch the auctions closely, and you may find a bargain, even after the cost of postage.
GG sent this: Treasury yields soar after poor bond auction.