Jefferson record breaking $0.089 each.

But it's still perfectly legal to hoard them. I wonder if I should start a nickel jar next to my copper cents jar.

 

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boxes of bu rolls

 

A nickel is only worth five cents, unless you have a firm offer for nine cents.

Anybody know where nickels are being purchased for nine cents?

 

There are very few individuals now days who would have much use for an
alloy of 75% cu and 25% nickel but it's a safe bet that many would be us-
ing nickels rather than buying alloy at three times the price.

Lots of people use bronze so there will be lots of the old pennyies getting
melted. There's not much use by individuals for zinc but even a few of
these are being used up.

 

So, I take it that nobody knows where Jefferson nickels can be sold for nine cents each.
If that's the case, then I guess they aren't really worth nine cents.

 

If it gets a bit higher, a market will develop.

People sell cents from 59-71 on e-bay, same can happen with nickels.

Somebody will melt them, legal or not, if they start getting worth 15 cents or so. People will hoard them, pretty soon.

 

nickel prices

jefferson nickels circulated pre-1971. except 1964. bid $0.08 each. common dates. asked $0.15 each. common dates. coins must be nice. no cull. no hole. no heavily scratched.

 

http://www.usmint.gov/pressroom/index.cfm?flash=yes&action=press_release&ID=771

 

People will melt anyway, no matter what law is there.

All kinds of stuff is stolen and melted... statues, guard rails, aluminum light poles, anything.

If you can take down a light pole, bags of coin are nothing.

 

http://www.coinflation.com/coins/ba...950.00&nickelprice=23.6983&Submit=+Calculate+

 

Anybody have a link to where is says how many may be exported legally? I also see that there are exceptions for numismatic and educational reasons, etc. I only seem to find the press release, not the proper wording of the law. (Not that I'm planning on exporting pennies and nickels for any other reason.)

 

Here is the Official Federal Register publication of the final rule, with additional information.

If you scroll all the way down the page you will find all amendments to the interim rule.

 

so are people actually saving (hoarding) the pennies and nickels in question? Or is it just a potential fear.

 

There will be wholesale destruction of these coins Before too many years. Most of the coins
will not be checked for dates, condition or varieties, they will simply be destroyed. This may
not matter much to a coin like a VG '39-D or a VF '46-S since they're gone from change but it
might have a sigificant impact on some of the coins that were never pursued by collectors.

There's no chance that any coin will be made scarce by the coming destruction because mint-
ages have been enormous and a nickel is so little money that some people will just keep them
as souvenirs, but there are coins that will be much tougher than people think. Coins like 1973
are not extremely common in BU rolls and very few have been pulled from circu;lation over the
years. The mintage is low enough that they are not easily found in change and they're so old
now that most are worn and unattractive. This will mean many get destroyed. Even the small
numbers in BU rolls won't protect the coins because demand is low for later coins. Many better
BU rolls sell for less than current melt right now so even the rolls will be destroyed.

It might or might not be a good idea to save nickels that are worth a dime now but there are
definitely some chances to get some pretty good coins cheap. Try finding a nice attractive '73
in XF or better.

 

http://cgi.ebay.com/Bag-of-5-000-Pe...goryZ254QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

 

nickel up again

jefferson nickels up again. now it is $0.096 each.

 

Just curious. How are laws made?

Does the "Director of the Mint" make them?

I guess I'm behind times, because I always thought there was a legislative process to go through.

I wasn't aware that a member of the President's staff could arbitrairily enact new laws, establish penalties, and direct other government agencies to enforce his new laws.

Anybody know?

 

There not really laws when the mint or OSHA makes them but they are rules with the effect of law. And there are millions of them since every arm of government can make them. This has been going on for many decades and has been snowballing. There are so many laws that it's exceedingly difficult to start new companies or even know many of them. They tend to have the effect of enshrining the status quo.