| Author |
 Replies: 10 / Views: 1,796 |
|
|
New Member
United States
3 Posts |
Hello, I was recently going through some old rolls of nickels and I found a few War Nickels. After finishing up I bounced them on the floor just to check the sound. Surprisingly one of them made a Plastic metal like noise. I went online looking and attempted to do some research on it and I found nothing. It is minted P, according to some websites it's silver but it sure doesn't sound like it. It sounds almost like this coin when dropped but it has a more metal sound to it: http://en.numista.com/catalogue/pho...cuba/g97.jpgDoes anyone know anything about this kind of coin? P.S. My apologys if I posted this in the wrong section. Regards, Viewpoint Edited by Viewpoint
05/29/2012 11:28 am
|
|
|
|
Bedrock of the Community
United States
12437 Posts |
 I think you posted the wrong coin, that is a Cuban Centavo not a Roosevelt Dime(which did not exist in 1945). |
|
New Member
 United States
3 Posts |
The image is a cuban centavo, I am saying the coin sounds like a cuban centavo when dropped. I will post a picture of the nickel when I figure out where my camera's charger is.
Edit- Thanks for the welcome. :)
2nd Edit- WOOPS Big mistake I didn't notice it, Thanks. It's a Jefferson 1945 ''P'' Mint nickel.
Edited by Viewpoint
05/29/2012 11:33 am
|
|
Bedrock of the Community
United States
17884 Posts |
The War Nickels had a real problem with poor metal mixing and laminations or other internal flaws in the planchets. These can affect the sound of the coins when rung. In some cases the flaws can be bad enough the coin will just go "clunk". The sound the coin makes is NOT a good diagnostic feature for the War Nickels. |
|
New Member
United States
3 Posts |
Oh wow, I never knew that, very interesting. Does it still contain the same composition as normal War Nickels even though the sound diffrence? Regards, Viewpoint |
|
Bedrock of the Community
United States
12437 Posts |
Yes, the composition should be the same 35% silver as any other War Nickel, check the weight to confirm. |
|
Pillar of the Community
United States
2295 Posts |
And what is interesting, is that back then, the War Nickel was worth more than a nickel. It contained 0.05626 troy oz of silver and silver was $1.29 per ounce (I think) back then, which comes out to $0.0725754, so the Mint was making them at a loss. |
|
Pillar of the Community
United States
1903 Posts |
When you say the mint was making them at a loss....don't forget.... the mint doesn't pay spot for raw materials. It buys silver at a significant discount to spot.
|
|
Pillar of the Community
United States
2295 Posts |
That is quite possible back then, but still, if they were selling them to the FR for 5 cents each, it would be tough for them to make a profit on them, since there isn't much room to make a profit, even back then.
|
|
Bedrock of the Community
United States
17884 Posts |
Quote:And what is interesting, is that back then, the War Nickel was worth more than a nickel. It contained 0.05626 troy oz of silver and silver was $1.29 per ounce (I think) back then, which comes out to $0.0725754, so the Mint was making them at a loss. Not correct. The official ceiling price for silver from the Treasury was $1.29 per oz, and that was the rate at which a silver dollar had a dollars worth of silver in it, but from 1942 to 1945 the market price for silver was between 40 and 70 cents per oz. So even at 70 cents per oz the warnickel contained less than 4 cents worth of silver. the warnickels were not produced at a loss. What is true is that two five cent warnickels contained more silver than a dime. (.11252 oz compared to .07234 oz) And the only way the mint pays less than spot price is if they are able to lock in a contract price and then the metal price goes up. Like any manufacturer they try to hedge their cost by locking in contract prices like a futures contract. Typically distant future contracts tend to be HIGHER than current market values but it allow you to calculate costs and prices from a fixed value. If prices go up faster than expected you are locked in a lower cost when the contract come due and you pay less than current market. On the other hand if prices fall then you can be stuck having to pay above market prices. |
|
Valued Member
Canada
262 Posts |
@Conder101, well, the current nickel has about 5 cents of metal, yet costs 11.2 cents to produce, also, the copper and manganese in the coin couldn't have helped the price at all, even though they're relatively cheap. So War Nickels might have been distributed at a loss. |
| |
Replies: 10 / Views: 1,796 |
|
Posted 05/29/2012 11:25 am
