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Jefferson nickel metal value down.
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<p>[QUOTE="cladking, post: 244703, member: 68"]If there were no melt ban in effect the wholesale price of these would be around 8c each and they would be used as alloy and chill scrap in the production of stainless steel. For small quantities scrap dealers pay between 40 and 80% of metal value so it would still be difficult to profit unless you can cut out smoe middlemen or obtain large quantities. </p><p><br /></p><p>Ultimately this is the end for most modern coins; they are recalled by the issuer and sold to scrap dealers in huge quantities. Most of the modern European coins were melted inScandinavia and China, theSouth American in Japan, and India has absorbed most of thecoins of that region. Canadian coinage is being melted in Canada and the US coins won't be destroyed on a widescale basis until there is a replacement for the nickel and the ban is lifted. There are some anecdotal stories of nickel shortages so the government's hand may be forced sooner rather than later. It still costs the government more than 10c each to mint these so it should be some relief, at least to taxpayers, when they change the size and/ or composition.[/QUOTE]</p><p><br /></p>
[QUOTE="cladking, post: 244703, member: 68"]If there were no melt ban in effect the wholesale price of these would be around 8c each and they would be used as alloy and chill scrap in the production of stainless steel. For small quantities scrap dealers pay between 40 and 80% of metal value so it would still be difficult to profit unless you can cut out smoe middlemen or obtain large quantities. Ultimately this is the end for most modern coins; they are recalled by the issuer and sold to scrap dealers in huge quantities. Most of the modern European coins were melted inScandinavia and China, theSouth American in Japan, and India has absorbed most of thecoins of that region. Canadian coinage is being melted in Canada and the US coins won't be destroyed on a widescale basis until there is a replacement for the nickel and the ban is lifted. There are some anecdotal stories of nickel shortages so the government's hand may be forced sooner rather than later. It still costs the government more than 10c each to mint these so it should be some relief, at least to taxpayers, when they change the size and/ or composition.[/QUOTE]
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Jefferson nickel metal value down.
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