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 Replies: 8 / Views: 2,299 |
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Valued Member
Canada
202 Posts |
From both here and the US forums, I know there are a lot of collectors hoarding the (practically) pure copper pennies. But what about the other metals made before the clad steel coins? Is it worth saving the pure nickel quarters, dimes and 5 cent pieces? Or what about the cupro-nickel 5 cent pieces from 1982-2001 plus 2006? I know just the 5 cent pieces have a melt value equal to or better than face value (like the copper penny) - but does anyone think pure nickel will take off enough to make dimes and quarters (or a long shot - 50c pieces and 1968-86 dollars) worth more for their metal than face value?
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Pillar of the Community
Canada
2781 Posts |
i am pretty sure all the nickel coins are worth more than face value. (nickel @ $7 per pound)
the mint has be working on a metal recovery program for some time now. canadian circulation coinage will just continue to get harder and harder to get.
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Pillar of the Community
Canada
695 Posts |
^ You would need $22.50 face value of quarter or $22.00 face value in dimes to make a $7.00 pound. So at this point only nickels are worth more than face.
The metal recovery program makes sense for the government because the new steel coins cost less to produce than the value of the nickel content in the dimes and quarters that they are recovering.
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Pillar of the Community
Canada
686 Posts |
Back when Nickel peaked in 2007 at just under $25 a pound, quarters were worth more in metal than their face value.
However, given the relative weights of 5 cent coins and 25 cent coins, compared to their relative values, I think 5 cent coins are by far the way to go. Nickel is sitting at $7.02/pound as of this post, and even if it increases by 10% per year, it will take over 12 years just to get to the breakeven point on quarters/dimes. And 10% is ambitious.
I don't know how many 5 cent coins out there are still nickel these days. I was sorting through boxes of 5 cent coins every day back in 2007, and made about $40K in one summer (I was in school). About 24% of all 5 cent coins were Nickel back then. I'm guessing it's half of that or less today.
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Valued Member
Canada
220 Posts |
My experience hunting nickel nickels (lol) shows around 12% of a $100 box.
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Pillar of the Community
Canada
686 Posts |
Islander - Do you have a Ryedale sorter?
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Pillar of the Community
Canada
3692 Posts |
Nickel already took off a few years ago. You missed it.
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Valued Member
 Canada
202 Posts |
Right, so keep doing the nickels but only check quarter and dime rolls for the lucrative varieties or high grade (hopefully) coins for numismatic purposes. Well, and to complete my albums.. Thanks to all!
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Valued Member
Canada
220 Posts |
I sort using my hands and eyes, jg86. :-)
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Replies: 8 / Views: 2,299 |
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Posted 08/14/2012 08:36 am
