Peter Schiff Suggests Buying Nickels Over US Treasury Bonds

Economist Peter Schiff recently suggested that investors buy nickels instead of US Treasury bonds. He claims that the copper and nickel inside each coin now outvalue the bond market.

Schiff estimates that the melt value of a nickel, which includes its copper and nickel content, is 7.76 cents, approximately 55% above face value. However, federal law prohibits melting or exporting coins, including nickels, which carries a fine of $10,000 and up to five years in prison.

The economist argues that investors do not need to melt the coins to hold their value, but this solution raises logistical issues. A stack of 10,000 nickels would weigh about one metric ton, requiring significant storage space.

Schiff's proposal is part of his long-standing case against Bitcoin and paper claims, which he believes are overvalued due to record US debt and rising yields.