I've had the opportunity to buy them at or below spot, but I've always wondered: Is the bullion value on these typically less than spot since they're only 35% silver? (If it ever became legal to melt them, wouldn't they require more effort to recover the silver from the manganese and copper)?
I have watched a silver and gold refiner on You Tube, sreetips, seems the chemicals to pull the silver out of the nickels would cost more than the the value of the silver.
Yes, it would cost more to refine these and they are not the best choice for silver stacking. But each to their own.
hey diburning good question. ive seen videos on the subject on YouTube as Nolan Workman referred to. their quite interesting and informative. i would think the process would be more expensive but in the videos ive watched there are some creative thinking and some shortcut tips on getting the cost down.
In mint state these are beautiful coins and unique in history because of the war. I put together an MS collection of them and am quite pleased with the effort.
I put together a collection of Cents, Nickels, Dimes, Quarters, and Half Dollars for the years 1943-1945 and for each mint they were produced in. I collected each coin by NGC and graded MS-66. Cents are MS66RD, Nickels are MS66, Dimes are MS66FB, Quarters are MS-65&66. My collection of WAR COINS started with coins from my father when he was in the army and had gobs to do. (Yeah, Right)
Well done Jim....nice way to remember a horrific event that did result in the stopping of tyranny and creation of many heroes.
Totally understand about the recovery cost exceeding the silver value, today. Therefore, not melting them down today (if it were legal) would be advisable. My question is this. Just like it is not profitable for certain oil drilling companies to continue drilling when oil dips below, say $35/bbl, wouldn't melting down war nickels, if spot silver were to ever climb to $XX.xx/oz make it a profitable venture? I'm not sure what the X variable is. For discussion sake lets use $75/oz. I can't accept a blanket statement that says it is not profitable to melt 35% silver war nickels, ever. There has to be a price when it becomes a shrewd deal. Maybe that price is $500/oz. I just don't know. What say you smelters?
Somewhere along the way it must have been profitable to melt them. If not then we would be awash with them. Back in the 79-80 silver boom one of the local silver buyers sent off 25+/- bags to a larger buyer who sent them to a smelter. Over the course of two years they sent smaller quantities thru the same channels.
I’m thinking a forum member knows what that X-factor number would be, or a member who is also a smelter? Once you get past the legal to melt issue, copper would have to appreciate to $5-10 a pound to make the recovery process practical for cents ( pre- ‘82 ), you can apply that same thinking to silver and say $75 ( 3 times current spot ) or so for War nickels...waiting for better info, jmho...Spark
When did War nickels become illegal to melt? It was my understanding the No Melt law only applies to standard nickel alloy of copper and nickel.
Located this on the Federal Register: “The prohibition contained in §82.1 against the exportation, melting, or treatment of 5-cent coins shall not apply to 5-cent coins inscribed with the years 1942, 1943, 1944, or 1945 that are composed of an alloy comprising copper, silver and manganese.”
Now that’s a cool idea. I just received a 43 P from @Paddy54 and was amazed on how shiny it was. All the war nickels I’ve had were kinda gray. I can see why you started that collection. I would of never ever been able to spot that coin in a roll search. Thanks paddy. Paddy gave me a 50d also. Yeah it was shiny also