zinc price have increased recently. lincoln cent now 15% over face value. the jefferson nickel hit a high of 45% over face value. but today, it lower down to 30% over face value. just a reminder.
nickel current melting value us jefferson nickels melting value at $0.0644 downed from a high of $0.0724. canadian nickels dated 1981 and before worth canadian $0.133 each.
Remember, you can't get the melt price. There are smelting and refining costs involved. Does anyone know at what price it is economical for private companies to melt US coins?
One would think that any manufacturer who need a copper/ zinc mixture could just dump pennies into the furnace indiscriminatly. Many people just toss these worthless slugs in the garbage. It's surprising that the mint can keep up with demand. There aren't many alloys that require both zinc and copper though.
All brass alloys do, and the yellow brasses tend to need a lot of zinc so the cents would be a natural supply choice.
I'm saving copper cents, not because I think I'll ever really make any money or because they have numismatic value. I'll probably give them away someday to a younger family member who shows an interest in coins.
I appreciate you being the Vanguard Tracy on changing metal markets and how they reflect the face to intrinsic value of United States coins. Best Wishes & Keep It Up,
