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<p>[QUOTE="-jeffB, post: 8666200, member: 27832"]And it would cost you a lot more than 0.7 cents per coin to melt them and separate the metals, which you'd need to do in order to realize that price. (Yes, Canadian nickels from the years listed are pure nickel, and more worthwhile. If you can get them at face value, more power to you!)</p><p><br /></p><p>AND it's illegal to melt US nickels in the US anyhow (except war nickels).</p><p><br /></p><p>Now, eventually the value of that metal will climb so high that the Mint will be FORCED to change their composition, assuming they keep minting the coins at all. At that point, and once sufficient supplies of the new nickels are in circulation, I'd expect the ban to be lifted. (Its purpose, as I understand it, is to make sure the coins continue to circulate.)</p><p><br /></p><p>BUT... at that point, even if inflation means that the metal is worth five "dollars" per coin, a loaf of bread will be $500, and you'd need a hundred nickels to barter for that loaf, just as you'd need them to <i>buy</i> it today. A pound of nickels for $5.00 (at today's prices) worth of groceries. How much do you spend on groceries whenever you go to the store? How many tons of nickels do you want to hoard as "hard money" against hyperinflation?[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 8666200, member: 27832"]And it would cost you a lot more than 0.7 cents per coin to melt them and separate the metals, which you'd need to do in order to realize that price. (Yes, Canadian nickels from the years listed are pure nickel, and more worthwhile. If you can get them at face value, more power to you!) AND it's illegal to melt US nickels in the US anyhow (except war nickels). Now, eventually the value of that metal will climb so high that the Mint will be FORCED to change their composition, assuming they keep minting the coins at all. At that point, and once sufficient supplies of the new nickels are in circulation, I'd expect the ban to be lifted. (Its purpose, as I understand it, is to make sure the coins continue to circulate.) BUT... at that point, even if inflation means that the metal is worth five "dollars" per coin, a loaf of bread will be $500, and you'd need a hundred nickels to barter for that loaf, just as you'd need them to [I]buy[/I] it today. A pound of nickels for $5.00 (at today's prices) worth of groceries. How much do you spend on groceries whenever you go to the store? How many tons of nickels do you want to hoard as "hard money" against hyperinflation?[/QUOTE]
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