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I Now Have THREE Different Dates for a Henning Nickel
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<p>[QUOTE="Seattlite86, post: 3871007, member: 59737"]If I have this right...</p><p>In the 1960s, one pound of nickel cost about 74 cents (<a href="http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=article&did=EcoNatRes.MinYB1960v1.JBilbrey2&id=EcoNatRes.MinYB1960v1&isize=M" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=article&did=EcoNatRes.MinYB1960v1.JBilbrey2&id=EcoNatRes.MinYB1960v1&isize=M" rel="nofollow">http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=article&did=EcoNatRes.MinYB1960v1.JBilbrey2&id=EcoNatRes.MinYB1960v1&isize=M</a>)</p><p><br /></p><p>Copper at the time cost around 30 cents per pound (<a href="http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=turn&entity=EcoNatRes.MinYB1960v1.p0412&id=EcoNatRes.MinYB1960v1&isize=M" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=turn&entity=EcoNatRes.MinYB1960v1.p0412&id=EcoNatRes.MinYB1960v1&isize=M" rel="nofollow">http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=turn&entity=EcoNatRes.MinYB1960v1.p0412&id=EcoNatRes.MinYB1960v1&isize=M</a>)</p><p><br /></p><p>Nickels are made of 75% copper, 25% nickel</p><p>For $1.64, you could make 4 pounds of nickel blanks (ignoring production costs). Four pounds of blanks produces about 360 nickels, or $18. I'll turn $1.64 into $18 any day!</p><p><br /></p><p>If Henning made 100,000 nickels, he would've paid around $455 for the metal, and his profit would have been somewhere around $4,500. The purchasing power of $4,500 in 1960 is about $39,000 today.</p><p><br /></p><p>And, who looks at a nickel and expects it to be counterfeit? It seemed like a safe bet.[/QUOTE]</p><p><br /></p>
[QUOTE="Seattlite86, post: 3871007, member: 59737"]If I have this right... In the 1960s, one pound of nickel cost about 74 cents ([URL]http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=article&did=EcoNatRes.MinYB1960v1.JBilbrey2&id=EcoNatRes.MinYB1960v1&isize=M[/URL]) Copper at the time cost around 30 cents per pound ([URL]http://digicoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=turn&entity=EcoNatRes.MinYB1960v1.p0412&id=EcoNatRes.MinYB1960v1&isize=M[/URL]) Nickels are made of 75% copper, 25% nickel For $1.64, you could make 4 pounds of nickel blanks (ignoring production costs). Four pounds of blanks produces about 360 nickels, or $18. I'll turn $1.64 into $18 any day! If Henning made 100,000 nickels, he would've paid around $455 for the metal, and his profit would have been somewhere around $4,500. The purchasing power of $4,500 in 1960 is about $39,000 today. And, who looks at a nickel and expects it to be counterfeit? It seemed like a safe bet.[/QUOTE]
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