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 Replies: 13 / Views: 1,829 |
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Bedrock of the Community
Canada
10743 Posts |
Just wondering as I was going through 20 rolls nickels looking for pure nickel Nickels dated 1981 and under, how many members are saving these and has anyone got a price from anybody regarding buying or...? We have been saving these darn things for a couple years and lately getting rolls from the bank hasn't been that good. I know the Federal Gov. has been taking these out of circulation for a while and we are finding less and less all the time.  |
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Pillar of the Community
Canada
2632 Posts |
Its sickening they take the silver the copper the nickel and the pennies and now the nickel nickels then dump loads of steel on us. Very frustrating I know, I'm with you on that one..
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Pillar of the Community
Canada
1747 Posts |
I had several hundred dollars worth stashed away and after a couple of years trying to find some one who would buy them above face value, decided to roll them up and cash in. I started doing the same thing with the copper pennies I hoarded as well.
Ultimately no one in Canada will melt these for the nickel content, because its against the law. you need to find a person who wants to stash these away for 50 years + and leave them to their children to deal with. and even then the mint will still not allow you to melt them.
I read somewhere on here that someone knew of a shop that paid a small premium on bulk pre 81 nickels, but it was not very much and you needed pounds (multiples) of them.
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Moderator
 Canada
10456 Posts |
I know of one dealer who pays slightly above face (10%) for pre-1982 5-cent coins. So a box of $100, he buys at $110... if the price of nickel spikes, like it did back in 2007, then, obviously, the buy price goes up.
"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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Valued Member
Canada
299 Posts |
Was it against the law to melt pre-1967 silver too? It is still legal to spend silver coins at face value. It is probable that many of these coins now exist in a different state.
Wouldn't surprise me if over the next decade our circulating coinage begins with a loonie and the lower denominations are put out to pasture and a few decades later just e-money. :)
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Pillar of the Community
Canada
1051 Posts |
Melting coins is technically illegal (even though the mint does it routinely), but that did not stop millions of silver coins in private hands from being melted in the past. It also doesn't stop Americans from melting Canadian coins.
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Bedrock of the Community
 Canada
10743 Posts |
There was a CCF U.S. member who wanted to buy some that we had but, we checked into the shipping costs and it wasn't worth sending them.  |
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Bedrock of the Community
Canada
21597 Posts |
I'm saving any pre 2001 quarters I find.
Don't know why, maybe just so the government doesn't get them.
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Pillar of the Community
Canada
2632 Posts |
Maybe buy an assortment of machines and start a small coin rolling business..and get all the goodies lol
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Forum Kid
Canada
1074 Posts |
JimmyD you hit the nail right on the head. Thanks for bringing that up! I have this little (or Large) feeling inside that every time I go to the bank to get rolls of coins, it feels like I am winning against the government. The government will do whatever it takes to actually save money and reduce costs for themselves, lets face it... So when I here that the pre 1981 nickel nickels aren't worth it, I say no to that because that is exactly what they said in 1968 when they reduced silver content in coinage. Nickel is almost like the next silver. It has many great characteristics such as alloying, stainless steel and is very hard. When the government has coin banks, they melt them and they are gone forever, in a way that is good for us, because it lowers the mintages down. I mean look at 1921 CAD denominations for example.
Same goes with pennies. Pennies and nickels are the cheapest and biggest bang for your buck!
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Pillar of the Community
Canada
3733 Posts |
our dealer pays 7 cents each for the nickel nickels. and when he has enough they get sent to the canada mint, so yes it is totally legal to melt them if you go through the right channels.
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Pillar of the Community
798 Posts |
I don't trust the government.  |
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Pillar of the Community
Canada
1018 Posts |
It is only illegal if you get caught, lots of things are illegal. It also has to be worth it in the first place.
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Forum Kid
Canada
1074 Posts |
it is only illegal if you get caught, is a great example of what you should do. I'm not kidding, don't do illegal things such as murder or robbery, but there is no way that the government can get you on this.
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Replies: 13 / Views: 1,829 |
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Posted 01/21/2015 11:44 am
