nickel price hit a record high yesterday. a circulated jefferson nickel now cost $0.0724 each on its metal value. a roll of circulated nickels cost $2.90. what about uncirculated roll?. you figure out it. by the way, lincoln cent is also cost over a penny now.
I've heard alot of talk and speculation about this. Should I keep my bucket of nickels, or cash them in for spending money?
I don't know what record you're talking about, but nickel was at $16+ dollars back at some points in the 80's. And, why would an uncirculated Jefferson nickel have an intrinsic value even a little bit greater than a circulated Jefferson? Edited for spelling.
I wonder what will happen when people start hording more nickels than they spend or return to the bank. When the general public figures out they lose 2c every time they spend one then the coins will disappear from circulation. This doesn't matter with the cent since it has no value but many people are going to be concerned if stores don't provide their entire 5c change. Are stores going to cut dimes in half to make change? Are the officials asleep at the wheel?
nickels..... all five cents content 25% nickel & 75% copper. and weight 5 gram were worth $0.0724 each. uncirculated roll should command at least 10% over circulated roll. that's how the dealers bid for it. and they usually sell and take a profit between 10% to 50%. ex: bid $3.30 ask $4.95.
An uncirculated roll will only command a premium if being resold to a collector. Otherwise, it would only be worth its melt value. It's the inevitable result of inflation in our fiat economy. There's not much that can be done. In time the quarter and half dollar will find themselves in the same place, though the dime will take much longer with its small size compared to its face value. Aluminum is still cheap enough to coin below face value, but that also would change in time. Steel is very cheap and might make a good option. It's been about a year since I've taken steel in for recycling, but if I remember correctly, I got less than $4.00 for 100lbs. My thought is that if you can afford not to spend your nickels and you have room to save them... it can't hurt. Worst case is the melt never comes and you've got a bunch of nickels saved up that you can cash in... Given inflation, it's fair to change Mr. Franklin's quote to a nickel saved is a nickel earned. Not quite so bad, the melt comes and you cash in by having your nickels melted. Stellar, you became a guardian of the newest rare coin and have built a nice collection that you can cash in on by providing these coins to collectors who have long overlooked and find it difficult to obtain them.
Actually, the dime, quarter, and half dollar will reach that point at the same time, since their weight is proportional to their value (this is due to them being the same size now as they were when they were minted in 90% silver). The Ike dollar also follows the same rule, since it is the same size as the old silver dollars. The dime, quarter, half, and Ike dollars are currenly worth a bit less than 1/4 their face value in metal. The coin with the lowest melt to face value ratio right now is the year 2000 and later dollar coins.
The quarter should be slightly underweight as well. The strip thickness was reduced 1% in 1999. This was probably because the quarters in circulation are getting pretty thin and they didn't want a big difference in roll lenghts depending on how many newer coins happened to be in it. The other coins aren't getting enough wear in the heavily represented dates for this to be a consideration.
Having realized that I should have known that as I knew it was the case with silver coins... I will digress and make note of the fact that I have stated elsewhere here that I can (apparently frequently) be a moron. Must not post before my second cup of coffee... *scolding* bad newbie
No idea but I'm sure it wouldn't be worth it. It would take a lot of energy to melt nickel and then trying to seperate the two...yuck.
OK so maybe a nickel is worth more in metal value than a nickel. Now what are you going to do with it? Take it to a metal recycler? Unless you came up with about a few hundred pounds of them, you'ld be laughed at. People are always saying what a nickel, dime, cent or quarter is worth in metal but no one has posted where you can get that much for one or a few of them. Now lets all go to a bank, buy a thousand dollars worth of nickels, take to a metal recycler and come away with about one dollar in profit.
The issuing authority doesn't need to worry about what to do with the metal since they can sell it in large quantities where it will be used in alloy that needs copper at a three to one ratio to nickel. There are twenty different types of stainless steel that use this alloy. The same thing would happen to smaller lots but more processing and fudging are required to get the mix right.
I was thinking of going to each bank in my area and seeing how many bags of nickels they had that they would sell. Was guessing each bag might be 10 pounds... possibly 15 or even 20 and if each bank would sell atleast 3. With their being about 4 or 5 banks around here and going to them 1 time a week after about 1 month I might have enough to pay for a 1 hour trip to a major metal recycling plant somewhere around Louisville KY and make a decent profit. Ofcouse i would spend the rest of the time during the week going through each bag If I could get about 500 pounds of nickels it might be worth the trip. I'm always looking for new and exciting ways to get my wife to let me blow more money on coins :mouth: Thank god for her or we'd be broke with a nice pile of change,---to pay the electric bill with
I wasn't around back then, but I'm willing to bet there was a point in time when silver first became more valuable than it's face in coin that many said the same thing. I doubt that widespread hoarding and melting will happen in the near future, but I won't be a bit surprised if it does come in time.
On the question on how much it cost to refine the nickel and copper from the US 5 cent piece - the true answer is nothing. Since coin metal alloys are produced to strict metal guidelines; coins are ussually dumped straight into smelters and pure metal added accordingly to produce the alloy mix desired.
current rolls prices for westward journey 2004 p peace medal $21.95/roll 2004 d peace medal $10.95 2004 p keelboat $8.95 2004 d keelboat $4.95 2005 p am bison $4.95 2005 d am bison $4.95 2005 p ocean in view $4.95 2005 d ocean in view $4.95 2006 p return.........$4.50 2006 d return ........$4.50 prices from coast to coast, paul sims, coin depot, and skyline
Assuming you could find a recycler who would take them, and assuming he gave you one fourth the excess value ove face that the metal was worth, your profit would be . . . $100. That's right $1000 dollars in nickels contains $1,400 worth of metal. Your're right they did. "Why bother hanging on to those silver quarters, they're only worth 26 cents each." In the mid 70's before the big run up in silver people were constantly buying and selling silver at three times face. Well right now the pre 82 cents are worth 2.4 times face. In my lifetime I fully expect to see coin dealers at shows running bags of copper cents through their counters buying Lincoln cents the way they did/do buy silver cons. Right now a $50 face bag of pre-82 lincolns has almost $125 dollars worth of copper in it. At some point the recyclers are going to realize that they CAN recycle US coins and the market for cent bags will begin.
