Metal value of Jefferson Nickel (FYI)

[WoodenJefferson]

 

As of May 2007, the value of the metal in the coin has reached 9.7 cents, just 0.3 cents short of being worth a dime, due to the rising costs of copper and nickel. In an attempt to avoid losing large quantities of circulating nickels to melting, the United States Mint introduced new interim rules on December 14, 2006 criminalizing the melting and export of pennies and nickels. Violators of these rules can be punished with a fine of up to $10,000, five years imprisonment, or both.

 

Nickels minted from 1942-1945 during WWII contain 35% silver, as the nickel was used for the war effort. Their metallic value is in line with current precious metal prices, as well as the base nickel value. The metal content of these "war nickels" as of April 25, 2007 is worth $0.77.

[123cents]

I knew the metal in a nickel was worth then a nickel but I didn't know it was worth that much. Thanks for the very informative post.

[MunkyMan95]

So my $25 bag of Keelboat nickels is worth near $50 melt?

 

Wow, I never thought I would say that...

[ibyandsellsmith]

I never would have dreamed that Nickel was worth more than Silver. Where are you getting this info?

[MunkyMan95]

I never would have dreamed that Nickel was worth more than Silver. Where are you getting this info?

 

Who said Nickel was worth more than Silver?

[bsshog40]

(As of May 2007, the value of the metal in the coin has reached 9.7 cents) (The metal content of these "war nickels" as of April 25, 2007 is worth $0.77.)

 

It wasn't mentioned nickel was higher. You may have mis-read.

[DC Dawg]

As of May 2007, the value of the metal in the coin has reached 9.7 cents, just 0.3 cents short of being worth a dime, due to the rising costs of copper and nickel. In an attempt to avoid losing large quantities of circulating nickels to melting, the United States Mint introduced new interim rules on December 14, 2006 criminalizing the melting and export of pennies and nickels. Violators of these rules can be punished with a fine of up to $10,000, five years imprisonment, or both.

The final rule was published by the US Mint and agreed to by the Secretary of the Treasury on April 10, 2007. The US Mint press release was issued on April 17.

 

Nickels minted from 1942-1945 during WWII contain 35% silver, as the nickel was used for the war effort. Their metallic value is in line with current precious metal prices, as well as the base nickel value. The metal content of these "war nickels" as of April 25, 2007 is worth $0.77.

With the exception of the war issued coins, the composition of the US five cent coin was established in 1883 with the issue of the Liberty Head "V" Nickel and has never changed. The cent has changed a few times since its inception (copper->copper nickel->bronze->zinc-coated steel->bronze->copper->copper-plated zinc), why can't we change the compositon of the nickel?

 

Decision on coin compostions are made by the mint in association with various stakeholders. These stakeholders include the retail associations and the vending machine operators. One stakeholder is not arguing with the government and that's the companies who make cash registers. Why? Because they make drawers for the Euro and the Eurocent denominations (1 eurocent, 5, 10, 20, 50, 1 euro, and 2 euro), so it is not big deal for them.

 

Scott

[ibyandsellsmith]

Well it was an assumption he said a war nickel was worth .77 at 35% silver that's like 15X face, and yet you can buy 90% silver all day long for 9X face, so as you can see nickel would have to be worth more.

[MunkyMan95]

The value of the 35% silver nickel has the value of the silver, as well as the nickel. That's where he comes up with 77c.

[WoodenJefferson]

.05 X 15 = .75 35% silver + the copper @ 56% (metal content)

 

The smallest silver coin (pre-1965 back to say the year 1900) is the .10 dime

 

.10 X 9 = .90

 

How is the nickel worth more? At this point and time, it's the combination of metals by weight that makes the war time nickels worth .77 each.

[ibyandsellsmith]

35% of 9 is 3.15 so .05X3.15=.1575-.77=.6125 so your paying .61 cents for "Copper and nickel" The coin itself, in my book, has very little Numismatic value.

[rrantique]

Here is a site that might help.

 

http://www.coinflation.com/silver_coin_values.html

[ibyandsellsmith]

Thanks that's a cool site. I quit!

[WoodenJefferson]

$12.90 = silver price / ounce on May 25, 2007. .35 = silver %

 

$3.3929 = copper price / pound on May 25, 2007. .56 = copper %

 

$3700.00 = manganese price / ton on May 25, 2007.

.09 = manganese %

 

5.00 = total weight in grams .0321507466 = ounce/gram conversion factor

.00220462262 = pound/gram conversion factor 1.0 × 10-6 = metric ton/gram conversion factor (see note directly below)

 

1. Calculate 35% silver value :

 

(12.90 × .0321507466 × 5.00 × .35) = $0.7258031044

 

 

$0.7258 is the rounded silver value for the 1942-1945 silver nickel on May 25, 2007. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.

 

 

 

2. Calculate 56% copper value :

 

(3.3929 × .00220462262 × 5.00 × .56) = $0.0209439

 

 

3. Calculate 9% manganese value :

 

(3700.00 × (1.0 × 10-6) × 5.00 × .09) = $0.001665

 

 

4. Add the three together :

 

$0.7258031044 + $0.0209439 + $0.001665 = $0.7484120044

 

NOTE: .75 per NICKEL rounded off, I was off by .02 cents. (check silver prices Tuesday...I'll be right on)

 

No reason to quit, just a friendly debate. Thanks for the link rrantique

[ibyandsellsmith]

your silver calculation is off.

give me a second.

Well it works. Thanks for the info fellers.

[ibyandsellsmith]

I was'nt thinking of the weight of the nickel, just the percentage of silver in relation to all the other denominations. oops!

[zrlevin]

The value of the 35% silver nickel has the value of the silver, as well as the nickel. That's where he comes up with 77c.

 

THERE IS NO NICKEL IN A WAR NICKEL!!!!! THAT WAS THE WHOLE POINT!!!!!!!!!!!

 

[ibyandsellsmith]

Ok! you dont have to yell.

[just-john]

http://www.coinflation.com/

Hears the list if I did this right

[Count_Erfit]

"Good" mothers won't allow their children to collect WAR nickels.

 

[WoodenJefferson]

"Good" mothers won't allow their children to collect WAR nickels.

 

 

What Mom dosen't know,

dosen't hurt her.

[just-john]

Lincoln Copper Cent 1909-1982 Cent (95% copper) *

$0.01

$0.0225794

225.79%

Jefferson Nickel 1946-2007 Nickel

$0.05

$0.0904598

180.91%

Lincoln Zinc Cent 1982-2007 Cent (97.5% zinc) *

$0.01

$0.0095312

95.31%

Jefferson Dime 1965-2007 Dime

$0.10

$0.0249317

24.93%

Washington Quarter 1965-2007 Quarter

$0.25

$0.0623328

24.93%

Kennedy Half Dollar 1971-2007 Half Dollar

$0.50

$0.1246667

24.93%

Ike Dollar 1971-1978 Eisenhower

$1.00

$0.2493345

24.93%

SBA 1979-1981, 1999 SBA

$1.00

$0.0890468

8.90%

Sacajawea Dollar 2000-2007 Sacagawea

$1.00

$0.0643913

6.43%

Presidential Dollar 2007 Presidential

$1.00

$0.0643913

6.43%

 

$0.7522

1504.49%

1916 Mercury Silver Dime 1916-1945 Mercury Dime

$0.10

$0.9671

967.17%

1964 Silver Roosevelt Dime 1946-1964 Roosevelt Dime

$0.10

$0.9671

967.17%

1964 Silver Quarter 1932-1964 Quarter

$0.25

$2.4179

967.17%

1947 Silver Walking Liberty Half Dollar 1916-1947 Half Dollar

$0.50

$4.8358

967.17%

1962 Silver Franklin Half Dollar 1948-1963 Half Dollar

$0.50

$4.8358

967.17%

JFK silver half dollar 1964 Half Dollar

$0.50

$4.8358

967.17%

40% JFK silver half dollar 1965-1970 Half Dollar (40% silver)

$0.50

$1.9773

395.46%

Morgan Silver Dollar 1878-1921 Morgan Dollar

$1.00

$10.3410

1034.10%

Peace Silver Dollar 1921-1935 Peace Dollar

$1.00

$10.3410

1034.10%

Silver Ike dollar 1971-1976 Eisenhower Dollar (40% silver)

$1.00

$4.2280

422.80%

[WoodenJefferson]

Lincoln Copper Cent 1909-1982 Cent (95% copper) *

$0.01

$0.0225794

225.79%

Jefferson Nickel 1946-2007 Nickel

$0.05

$0.0904598

180.91%

Lincoln Zinc Cent 1982-2007 Cent (97.5% zinc) *

$0.01

$0.0095312

95.31%

Jefferson Dime 1965-2007 Dime <<<Did I miss an era here? Just wondering.

$0.10

$0.0249317

24.93%

Washington Quarter 1965-2007 Quarter

$0.25

$0.0623328

24.93%