A nickel is almost worth a dime.

[TheDan]

A couple days ago LME essentially defaulted on copper contracts and resorted to price fixing...

London Metal Exchange moves to stem draining copper reserves

Inventories of the metal have fallen this month to their lowest levels in 47 years

www.ft.com

...and now nickel is heading the same direction.

Nickel price surges to highest in seven years as supply dwindles

BloombergNEF expects the nickel price to remain elevated above $18,000, although it will continue to underperform copper and aluminum.

www.mining.com

With a nickel being 75% nickel and 25% copper, that puts the melt value of a nickel at $0.095. Might as well just round that up to 10¢

 

[pronstar]

Paywall for the first link…


Sent from my iPhone using Tapatalk Pro

 

[msharley]

Say its not so!

No "Big Firm" in the US has ever resorted to "price fixing/gouging"!

 

[TheDan]

Paywall for the first link…


Sent from my iPhone using Tapatalk Pro

well that sucks... wasn't there last night

 

[TheDan]

Say its not so!

No "Big Firm" in the US has ever resorted to "price fixing/gouging"!

It's London, but yes.

I find it more ridiculous that an exchange in London has anything to do with the price of t̶e̶a̶ anything i̶n̶ ̶C̶̶̶h̶̶̶i̶̶̶n̶̶̶a̶̶̶ worldwide.

 

[baboon]

Years ago in India one of their coins was worth more as it was the same metal used to make razor blades!

 

[Lost Spurs]

Check out https://www.coinflation.com/

Especially you fellers that ever used the pre 64 silver coins. You can see Our inflation in real time. Even with manipulated silver prices.

Sent from my SM-G998U1 using Tapatalk

 

[Lost Spurs]

Years ago when I dabbled in the coin market I ran a coin comparator to seperate copper and zinc penny's. Then it was just under 2 cents worth of melt. The Ryedale is the cadillac of such smaller machines.

Mind you it is illegal to melt them at this time. There were rumors of coinstar sitting on 55 gallon drums of copper penny's just waiting until .GOV bails on them. I would assume the fed reserve would call them back to keep the copper for herself.

Sent from my SM-G998U1 using Tapatalk

 

[Rhino]

Years ago when I dabbled in the coin market I ran a coin comparator to seperate copper and zinc penny's. Then it was just under 2 cents worth of melt. The Ryedale is the cadillac of such smaller machines.

Mind you it is illegal to melt them at this time. There were rumors of coinstar sitting on 55 gallon drums of copper penny's just waiting until .GOV bails on them. I would assume the fed reserve would call them back to keep the copper for herself.

Sent from my SM-G998U1 using Tapatalk

Nothing new.

"Whose image and superscription hath it?" to quote Jesus.

 

[jordanmills]

I don't think "a little more than half" is "almost".

 

[Armybrat]

I recall using a silver dollar in the 1950s to buy a big bag of marbles.
Found some pre-1964 Quarters after my dad passed away years ago.

 

[TheDan]

I recall using a silver dollar in the 1950s to buy a big bag of marbles.
Found some pre-1964 Quarters after my dad passed away years ago. View attachment 284153

Retail on those is around $5.75 each right now.

 

[gll]

Today, a silver dime is worth at least a buck fifty-five and those quarters are worth at least $4.40 each... melt value...

That's a cool $840 sitting on your table...

 

[G O B]

In 1971 the Italian Lire traded 650 to the dollar. Fiat used 1 Lire coins {small aluminum with a hole in the middle) as washers because it was cheaper than buying washers!

NEVER IN MY WORST NIGHTMARES DID I EVER THINK THAT WOULD HAPPEN HERE.

 

[TheDan]

melt value

90% coins go for over melt, even when selling to a dealer. Especially right now; they are moving fast.

 

[TheDan]

NEVER IN MY WORST NIGHTMARES DID I EVER THINK THAT WOULD HAPPEN HERE.

Really? Because it's been 57 years since US coinage was made from monetary metal.

Can you give me a source for that anecdote? I'd definitely like to know more about it. Personally I've never come across any coins used as washers in any of the FIATs I've worked on or scrapped.

 

[gll]

90% coins go for over melt, even when selling to a dealer. Especially right now; they are moving fast.

I did say "at least", figuring there might be some premium, besides collectible, but I really didn't know there was a run on silver coin... should have, there's a run on anything of worth! Thanks for that info!

When I was a kid, (9 in '64) I knew that silver coin would be worth something someday, but I just went on spending it anyway... In the late 80's, I finally bought some for investment, at 4x face.

 

[TheDan]

Nickel and copper have come down a little bit. This two dollar roll of nickels is only worth $3.78 now...
Look at Jefferson peaking out disapprovingly at what they've done to the currency.