As of 2007, I have taken an interest in collecting pre-81 Canadian Nickels. At one time these 5 cent pieces were worth as much as 25 cents a piece! By living close to the Canadian border, I have been able to acquire a rather large amount of these. When I first started in 2007, the pull rate was consistantly at 20%. Now (2010) it has dropped to 8%. I've noticed sellers on ebay selling these strictly as .999 nickel bullion and getting as much as $3.00 per ounce. Any comments?
In the U.S. is is now an offense to melt one cent and five cent coins (or even take too many out of the U.S.).
Bullion is what you make of it. People collect pre-64 US currency as bullion. And pre-1982 US pennies and US nickles I do not know the melt law on Canadian coinage. As mentioned, it is illegal to melt down US pennies and nickles. As the nickles in question are not US currency, I do not believe they would be covered in that law, but that is my assumption. I do not know what Canada has to say on the matter, and if they could act on it outside of their borders.
It looks like the coins are worth about $0.09 each in US dollars so they are definitely worth collecting. The only reason I can think of for the $3 per ounce price is that the coins may be uncirculated and therefore worth more than melt to some collectors.
Remember when american stores would not accept this currency? My how things have changed! I am NOT!!! making fun of your thread,just waxing on days gone by. Oh and yes as bullion! The pre 1981 you were talking about!
Should be: Pre 1982 Canadian Nickels as Bullion 1981 Nickels are 99.9% by composition of the element Nickel.
