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 Replies: 21 / Views: 3,832 |
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Valued Member
 Canada
329 Posts |
thanks. based on the replies, I will keep one or two sets of the nicer examples.
rather than bank the left overs I will spend them giving someone else the opportunity if they want them.
why cant you melt nickles? law or physically difficult or cost more to melt than end product worth?
@pennyman, I hope you were rolling up cents, and not scrap silver?
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Pillar of the Community
Canada
2632 Posts |
@wazz - Like I say I keep whats good, includes all denominations. Would you have kept this 2000 nickel (on the right)?  |
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Valued Member
Canada
329 Posts |
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Pillar of the Community
Canada
2632 Posts |
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Valued Member
Canada
329 Posts |
that would explain the different look in the pic, but a silver nickle? must be broken out of a set.
oh yeah for your coins from the 30s 40s etc, (assuming they were silver) if you dont want to melt them down yourself, but want to get rid of them, pawn shops or coin shops would take them at over face value. just not clear if you were rolling up junk silver.
Edited by wazzappenning
03/24/2015 12:43 pm
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Pillar of the Community
Canada
2632 Posts |
No I'm not talking silver just copper and nickel. Roll searching I rarely find any silver.
I found that silver nickel in a roll.
Edited by Alexer
03/24/2015 1:05 pm
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Valued Member
Canada
329 Posts |
i dont think anyone finds silver anymore.
i meant someone else must have broke it out of a set.
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Valued Member
Canada
254 Posts |
Only the nickel has metal content worth more than its face value, but I have no idea who would buy nickels to melt, or if it's even legal. I don't have very many rolls of pre-2000 coins but I'm saving them for now, just because you never know if you need them! I feel like a hero saving coins that will be sent back to the mint to be scrapped.
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Moderator
 Canada
10458 Posts |
I know one dealer, who buys pre-1982 5-cent coins, for a small price above face value...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
2632 Posts |
Here's a nickel calculator http://coinapps.com/nickel/scrap/calculator/It would take about 96 nickels to make 1-lb which is worth just over $6 U.S. 96 nickels is $4.80 Can If the price of nickel continues going up then hoarding them (if you have the space) could very well end up worth it but unless the law is changed you would have to melt them undercover.  |
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Pillar of the Community
Canada
532 Posts |
The Currency Act and The Canadian Criminal Code state that no person shall melt down, break up or use otherwise than as currency any coin that is legal tender in Canada.It doesn't say much about other Nations or how it would be enforced. Technically speaking if you had a crucible furnace and an ingot mold who would know the difference? I think the incentive is keeping the coin in the best condition possible and hopefully either selling it for a profit or keeping it to hand down.
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Pillar of the Community
Canada
2632 Posts |
I would venture to say that if there is money to be made someones making it, if you think the mint is the only ones melting down coins your probably wrong. The thing is once melted there is no proof and if you do this sort of thing your certainly not going to talk about it either.
added
I cant see melting coins from other countries being illegal here..why would it..but maybe
Edited by Alexer
03/24/2015 11:10 pm
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Pillar of the Community
Canada
532 Posts |
Good Point Pennyman007. Unless there's an international treaty you could sell them south of the border and vice-versa. I can see it happening.
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Pillar of the Community
Canada
1051 Posts |
Millions of silver Canadian coins have hit the melting pot in the past, I guarantee it. I'd hold on to your nickel coins if you can.
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Pillar of the Community
Canada
1051 Posts |
pennyman007 - the pre-82 nickels are exactly 4.54g of nickel. One hundred of them weighs 454 grams, or exactly one pound. Not sure where you got 96 from. Exactly $5 face is one pound, makes calculations easy.
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Posted 03/24/2015 11:35 am
