copper at $3.0157 and nickel at $8.26 a pound. a nickel coin will have a bullion value of $0.048 a piece. plus fabrication and other charges. it will be well over 5 cents. what next? steel nickel plated with cupro-nickel. aluminum penny. reduce size and weight. or no more nickel and penny. what you think?. i wish the mint will continue it and without changes. and i wish the mint will keep changing its design. the same jefferson but with different obverse.
In Canada we switched in the last 6 years to Copper Bonded Steel (1 cent piece) and Nickel Bonded Steel (5 cents to 50 cents). The $1 and $2 coins stayed the same metal content. The bonded steel coins are lighter, and are cheaper to produce it seems according to the last numbers I saw a year ago. I heard that steel prices are going up, so this could affect the cost in production. I can't speak for the US mint, but if I were a betting man, I would go for a change to Copper Nickel clad steel. Anyways these are my thoughts. Talk to you all later! :goofer:
I'd have to check with one of our British Commonwealth members about that, but US cents with the Memorial reverse have never had any tin content. According to the Red Book wheaties did contain ".050 tin and zinc" through 1942, but not from 1944 on.
change specification i think just follow our neighbor canada. change penny and nickel accordingly to canadian way.
I guess it is unacceptable to have money that is actually WORTH something anymore. Got to get rid of that stuff before anyone gets any weird ideas that money is supposed to have value. It took a long time to convince people that a proper circulating currency is supposed to be worthless. We wouldn't want to regress. But in reality, steel would probably be a good choice because it at least has some weight to it compared to aluminium, or plastic.
i liked canadian old nickels i like to own a lot of canadian nickels dated 1982 and before. it content pure nickel. about 4 gram. i also like their two dollars coin.
I suppose this thread will be locked now, too. During much of the time silver was circulating, coins were worth much less than their face value. During the depression coins were worth only one quarter of face yet people still tried to acquire them. Gold was sometimes worth less than face and would have been more often but the government manipulated the gold price. Even the zinc cents now contain more than 3/4c worth of metal. The clad quarters are worth nearly as much of face as silver quarters were in the depression. The costs of mint employee health benefits and wages and the rapid deterioration of dies used to make steel coins make this an unacceptable replacement. Probably NO material can be coined for less than one cent unless its size is dramatically reduced. Steel itself is no longer the cheap metal it once was and many specialty steels would cost well in excess of 1/2 cent in metal for a one cent sized disc. Indeed, even scrap steel can cost more than zinc did when the mint claimed it was making a tiny profit on pennies. And a pound of steel doesn't go as far and wears the dies quickly. The simple fact is that the problem remains inflation caused by government spending not an intrinsic problem with our currency.
I think vending machine oeprators and banks might oppose copying the Canadian nickel. Our 5 cent coins are the same dimension - if they are of the same metal then Canadian coins would flood the US, at a loss to whoever got stuck with them. Just a thought.
Check your Redbook again. They resumed the pre-war composition in 1947 with 5% tin and zinc. The law did allow them some leeway on the exact mix of tin and zinc so they gradually reduced the tin content down to 1% tin. The copper, tin, zinc alloy was used through 1962. In 1963 they removed the last of the tin. So the first four years of the memorial cent did have tin in them. Aluminum might still be a possibility. At the current price an aluminum cent of the same size as our current cent would contain .33 cents worth of metal. that would allow .67 cents for fabrication costs. And if the fabrication cost are that high they would have had to have stopped coining cents a long time ago because it would have cost almost two cents to make one cent.
Hello folks: I was reading that the vending machine industry doesn't want aluminum coins (due to low density), but if coins that weren't used in vending machines were aluminum, that wouldn't be a problem I figure. If the vending machine industry decided to stop using nickels period, then you could do aluminum coins for the 1 cent and 5 cent denominations if that is what people wanted in the US. I know that Germany use to issue pfenning coins that were copper clad iron. Would nickel or copper nickel clad iron coins be accepted by the general public? Talk to you all later!:smile
nickel face value broken jefferson nickel bullion value now at $0.052 each. based on today high: copper $3.3364 per pound. nickel $8.8405 per pound. zinc $1.528 per pound and aluminum $1.258 per pound. gold hit record high at $678.00 silver at $14.76, platinum at $1,194.00 and palladium at $388.00.
