Put another nickel in?

Hoarding cents was my topic yesterday and that put me in mind to write about hoarding nickels.

There are still some collectors out there who are looking to profit from their nickel holdings when it becomes legal to melt them again.

They began their quest when the price of the metal was far higher than it is today, back in the 2006-2008 period.

Present value of the 5-cent coin is just below five cents, so there is no profit to be obtained from melting them.

Rather than continue to hold them, it would be far better to take the coins to the bank and get folding money for them.

You can use these funds to go out and purchase some other collectible coin that you have your eye on, or you can do as I suggested yesterday and buy silver or gold Eagles as an investment.

Any trend that would likely push up the value of the nickel and copper metal in the 5-cent coin's alloy would likely push up the price of gold and silver in spades.

Besides, what’s more beautiful, some circulated nickels or a newly purchased 2014 American Eagle?

I think the choice is obvious, but that’s just me.

Buzz blogger Dave Harper is winner of the 2013 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."