The post above pretty much sums up the reasons I hoard nickels but I hadn’t actually read that post until today when I was doing a little research.
I personally like hoarding nickels because it is a great way for me to save money.
Nickles are one coin I don’t really spend that often and yet I get them in change quite often.
I also like to get $10 in nickles every time I go to the bank. This has allowed me to build up a pretty decent stash of nickels and I usually don’t miss the money after a day or so.
I also have never been tempted to “dip into my savings” as the thought of trying to purchase something with a bunch of nickels is a bit embarrassing and going to the bank to exchange them in order to purchase something is simply too time consuming.
It also is an enjoyable hobby of mine to look through the nickels for old dates. So far I have found only a couple silver ones and one really old one like the ones in the picture.
Hoarding nickels is just a simple way to save some extra money here and there.
Do you hoard nickels or any other coins?
Do you have any good knowledge of nickels you can share?
I love the idea of saving up change but when I’ve tried to do it in recent years, I’ve found my stash always stayed pretty small because I just don’t use cash that much anymore. When you do your nickel-hoarding, is it with change you randomly find, or do you still use a lot of cash?
@caitlin.constantine I actually go to the bank and withdraw money from my checking account in nickels for the purpose of hoarding.
Because generally the money in my checking account is for spending, it is a way for me to save money that would otherwise be spent.
I usually just get $10 in rolls of nickels when I go to the bank. I used to get $20 but then they started telling me that when anyone orders $20 or more in nickels, they charge $2.50. (Makes no sense to me why they charge money to get money in coins LOL)
I use some cash still but I would never be able to hoard that amount of nickels I have just from spare change.
The last time I cashed in my nickel stash I had about $170 in nickels just to give you an idea of how many there were.
Since I don’t actually keep a tab of how much I have, it was a nice suprise to realize I had saved up that much without missing it.
I ended up using the money from that time for my wedding which was a win win. Now I have started over and I have no clue how much I have in nickels.
Although this isn’t just about nickels, something that has worked for me is getting a large old water bottle and not only putting all your spare change in it, but also every 5 dollar bill. I’ve done this for the last 2 years, and both times I ended up with between 700-900 dollars- and it was very painless!!
In Canada, pennies were retired in 2012. So I have joked on the Penny Hoarder FB site that I’m a Nickel Hoarder as we don’t have pennies anymore. Currently I save my change for school needs (a few pizza days, snacks at school movie night, field trips), the tooth fairy & any last minute money needs. If I am going to the bank & have an excess amount of change, I will deposit it to our chequing account to put back into the cashflow. Any change I find in my travels goes into a vacation fund.
This is odd because my husband was talking
to 2 of our son about saving a nickle day but
add an extra nickel on a day or 2 and see what
they have at the end of the year.
I buy my change off our son. He works in a store
so he all ways have change on him.
My saving change came from my mom she all ways
saved changed and soda cans and beer cans and she
cash the cans in once a month.
When I first got with my husband he worked in a gas
stations and he saved his change in a 5 gallon water
jug. When we moved to Fl because his dad was dying
we moved down there and we had about $2,000 in
change. $400 a lone in pennies.
We all save the change for vacation spending money for the kids. That way they are (ideally!) not asking me for money while we are on vacation, when I’ve already saved up for and spent for the vacation itself.
I know, I know, this is The Penny Hoarder.
