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Okay To Mix Cupro-Nickel Canadian Nickels With US Nickels?

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Pillar of the Community

708 Posts
 Posted 07/03/2014  12:18 am Show Profile   Bookmark this topic Add Fox to your friends list Get a Link to this Message Number of Subscribers
Is it okay to mix and store my cupro-nickel Canadian nickels with U.S. cupro-nickel nickels as cupro-nickel bullion? (I keep all of each country's nickels, and I know that some Canadian nickels are the same composition as U.S. nickels)
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Canada
2019 Posts
 Posted 07/03/2014  05:34 am  Show Profile   Bookmark this reply Add Northerncoins to your friends list Get a Link to this Reply
From 1982 to 1999 the Canadian nickel composition is the same as American nickel at 75% Cu and 25% Ni .

From 2000 to present day the composition is 92% steel 5.5% Cu 2.5% Ni plating

http://www.bcscta.ca/resources/hebd...ositions.pdf



Quote:
With an exception of the War Nickels 1942-1945 (56% copper, 35% silver, and 9% manganese minted during World War II) it has always contained 75% copper and 25% nickel. The nickel is one of the most valuable coins minted in terms of its actual intrinsic metal value. At the time this article was written the coin is worth .07 or .08 each. Because of this there is a melt ban in place on nickels to prevent people from buying thousands of dollars worth of these coins, and melting them down for a hefty profit.



Quote:
* Notice as of December 2006 it is illegal to melt down US Minted Pennies and Nickels, and there is a $10,000 fine to help enforce the law. It is legal however to melt down silver dollars, half dollars, dimes, quarters for their content.


http://cointrackers.com/jefferson-nickel/


Not sure how to answer your question lol... Some years of Canadian nickels you could put together with US nickels but seeing how it illegal to melt them are they still worth hording?

I guess if they ever change the rules you would be ahead of the game so to speak.
Edited by Northerncoins
07/03/2014 05:37 am
Pillar of the Community
708 Posts
 Posted 07/07/2014  04:23 am  Show Profile   Bookmark this reply Add Fox to your friends list Get a Link to this Reply

Quote:
Not sure how to answer your question lol... Some years of Canadian nickels you could put together with US nickels but seeing how it illegal to melt them are they still worth hording?

I guess if they ever change the rules you would be ahead of the game so to speak.


I am hoarding them, along with ALL pre-1982 copper pennies I come across, in case the melting ban is ever lifted, however, even if the melting ban is lifted, I will not melt them anyway. If the government eventually changes the coin compositions, I will just sell the coins to a junkyard for their metal content. (I always thought it would be a weird concept to take actual "money" to cash in at a junkyard for more money )

One thing I always wondered though, is, what if someone melts a bunch of U.S. nickels, and tries to "claim" that they are Canadian nickels, if the compositions of some Canadian years are the same as U.S. nickels?

Hey, I know I asked this before, and although its pointless, are you allowed to melt down 1943 steel pennies?
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