US War Nickels

Discussion in 'Bullion Investing' started by diburning, Feb 15, 2021.

  1. diburning

    diburning Member

    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)?
     
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  3. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    I would think so . That's even if it's worth it . How many are we talking about ?
     
  4. Nolan Workman

    Nolan Workman Well-Known Member

    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.
     
  5. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    Definitely! :inpain:
     
    Oldhoopster likes this.
  6. tommyc03

    tommyc03 Senior Member

    Yes, it would cost more to refine these and they are not the best choice for silver stacking. But each to their own.
     
    SilverMike likes this.
  7. ldhair

    ldhair Clean Supporter

    These are more of something you just save for the fun and history. This thread needs images.;)
    Image_1294.JPG Image_1296.JPG
     
  8. mike estes

    mike estes Well-Known Member

    Capture.JPG
    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.
     
  9. Southpawdon

    Southpawdon Member

    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.
     
  10. Mr.Q

    Mr.Q Well-Known Member

    Nice '44 Idhair. Where there is will, there will be a way, thanks for the post diburning.
     
  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    Of course it would.
     
  12. Jim Dale

    Jim Dale Well-Known Member

    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)
     
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  13. Southpawdon

    Southpawdon Member

    Well done Jim....nice way to remember a horrific event that did result in the stopping of tyranny and creation of many heroes.
     
  14. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    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?
     
    Spark1951 likes this.
  15. capthank

    capthank Well-Known Member

    I have a nice MS set that I would never melt.
     
    Collecting Nut likes this.
  16. tibor

    tibor Supporter! Supporter

    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.
     
  17. Spark1951

    Spark1951 Accomplishment, not Activity

    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
     
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  18. Dug13

    Dug13 Well-Known Member

    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.
     
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  19. Dug13

    Dug13 Well-Known Member

    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.”
     
    Last edited: Feb 15, 2021
  20. tibor

    tibor Supporter! Supporter

    ^^^^^^^
    This. @Dug13 Thanks for digging this information up.
     
  21. Cheech9712

    Cheech9712 Every thing is a guess

    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
     
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