Why are circulated US Silver War Nickels (1942-1945 P,D,S) so cheap?

Yet preceded by the three cent silver piece. Once again, Congress cannot make up its mind. Also know as a TRIME, and in the Civil War, soldiers called them FISH SCALES, because of their resemblance to fish scales I suppose, small, thin, shiny and hard to pick up off stuff?

 

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Josh Tatum.

 

Ain't that the current cost of minting such?

 

War nickles are currently my arch ememy! I search and search but no they deceive me I cannot find one! But they are a great bullion investment it seems, because if you melt down 200 at once it's cost effective. If that's possible that is.

Thanks,
Jacob

 

apmex . com has $50 face value bags of them for $963. free shipping.

 

The original nickel was a cent - 1859-1864 - the "white cents".

 

That is where the term, "You're joshing me" came from.

 

Same idea as the 40% halves. Costs more to get the silver out of those. My bullion dealer pays 70% spot for those and won't even mess with the 35% nickels.

 

Maybe your dealer doesn't but I bet you could sell them online for $40 a roll.

 

That's exactly about what they go for.

 

here's the law for you. The section in bold is where warnickels are exempted.

TITLE 31 > Subtitle B > CHAPTER I> PART 82 --5-CENT AND ONE-CENT COIN REGULATIONS


§ 82.1 Prohibitions.

Except as specifically authorized by the Secretary of the Treasury (or designee) or as otherwise provided in this part, no person shall export, melt, or treat:

...(a) Any 5-cent coin of the United States; or

...(b) Any one-cent coin of the United States.

§ 82.2 Exceptions.

...(a) The prohibition contained in §82.1 against the exportation of 5-cent coins and one-cent coins of the United States shall not apply to:

......(1) The exportation in any one shipment of 5-cent coins and one-cent coins having an aggregate face value of not more than $100 that are to be legitimately used as money or for numismatic purposes. Nothing in this paragraph shall be construed to authorize export for the purpose of sale or resale of coins for melting or treatment by any person. (edit: that's less than a full box of nickels)

......(2) The exportation of 5-cent coins and one-cent coins carried on an individual, or in the personal effects of an individual, departing from a place subject to the jurisdiction of the United States, when the aggregate face value is not more than $5, or when the aggregate face value is not more than $25 and it is clear that the purpose for exporting such coins is for legitimate personal numismatic, amusement, or recreational use.

...(b) The prohibition contained in §82.1 against the treatment of 5-cent coins and one-cent coins shall not apply to the treatment of these coins for educational, amusement, novelty, jewelry, and similar purposes as long as the volumes treated and the nature of the treatment makes it clear that such treatment is not intended as a means by which to profit solely from the value of the metal content of the coins.

...(c) The prohibition contained in §82.1 against the exportation, melting, or treatment of 5-cent and one-cent coins of the United States shall not apply to coins exported, melted, or treated incidental to the recycling of other materials so long as—

......(1) Such 5-cent and one-cent coins were not added to the other materials for their metallurgical value;

......(2) The volumes of the 5-cent coins and one-cent coins, relative to the volumes of the other materials recycled, makes it clear that the presence of such coins is merely incidental; and

......(3) The separation of the 5-cent and one-cent coins from the other materials would be impracticable or cost prohibitive.

...(d) 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.

...(e) The prohibition contained in §82.1 against the exportation of 5-cent coins and one-cent coins shall not apply to 5-cent coins and one-cent coins exported by a Federal Reserve Bank or a domestic depository institution, or to a foreign central bank, when the exportation of such 5-cent coins and one-cent coins is for use as circulating money.

...(f)
......(1) The prohibition contained in §82.1 against exportation, melting, or treatment of 5-cent coins and one-cent coins of the United States shall not apply to coins exported, melted, or treated under a written license issued by the Secretary of the Treasury (or designee).

......(2) Applications for licenses should be transmitted to the Director, United States Mint, 801 9th Street, NW., Washington, DC 20220.

§ 82.3 Definitions.

...(a) 5-cent coin of the United States means a 5-cent coin minted and issued by the Secretary of the Treasury pursuant to 31 U.S.C. 5112(a)(5).

...(b) One-cent coin of the United States means a one-cent coin minted and issued by the Secretary of the Treasury pursuant to 31 U.S.C. 5112(a)(6).

...(c) Export means to remove, send, ship, or carry, or to take any action with the intent to facilitate a person's removing, sending, shipping, or carrying, from the United States or any place subject to the jurisdiction thereof, to any place outside of the United States or to any place not subject to the jurisdiction thereof.

...(d) Person means any individual, partnership, association, corporation, or other organization, but does not include an agency of the Government of the United States.

...(e) Treat or treatment means to smelt, refine, or otherwise treat by heating, or by a chemical, electrical, or mechanical process.

§ 82.4 Penalties.
...(a) Any person who exports, melts, or treats 5-cent coins or one-cent coins of the United States in violation of §82.1 shall be subject to the penalties specified in 31 U.S.C. 5111(d), including a fine of not more than $10,000 and/or imprisonment of not more than 5 years.

...(b) In addition to the penalties prescribed by 31 U.S.C. 5111(d), a person violating the prohibitions of this part may be subject to other penalties provided by law, including 18 U.S.C. 1001(a).

Nope, the term Josh meaning to trick or fool dates back to the 1840's well before the racketeer nickel or the fictional Josh Tatum.