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 Bullion Coins and Metals Investing Forums
 Nickel Bullion & CuNi Bullion Coins
 Canadian CuNi
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frugalcanuck
Penny Pincher Member


Canada
103 Posts

Posted - 09/07/2010 :  19:34:34  Show Profile Send frugalcanuck a Private Message
Are people keeping Canadian CuNi Nickels when they sort for .999Ni?

I have been keeping them because they were once worth more for the metal and although at the moment they are worth more face value I think they will be worth more for metal in the future.

I also think if the economy does not blow up.. thats a big if.. the CuNi will also be rare in the future and may demand a premium because the Canadian Mint is also mining the currency.

The issue could be the tying up of capital that could be used for .999 Ni and .98 Cu pennies. About 20 - 25 % of the nickels I get from the bank are CuNi so it could eventually tie up allot of capital now that I have an apprentice.

I am just in a dilema and would like others opinions on this.

Thank you in advance.

One box of Nickels

11.65% .999 Ni

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jadedragon
Administrator



Canada
3788 Posts

Posted - 09/07/2010 :  22:29:06  Show Profile Send jadedragon a Private Message
I started keeping the CuNi but than quit because:

1. ties up capital better invested in Cu and Ni coins
2. There is still a lot of CuNi out there to get later
3. All US Nickels are CuNi so there is no incentive for Americans to buy the Canadian CuNi from us Canadians when they can get unlimited CuNi for face
4. US nickels are a little heaver than Canadian CuNi Nickels, so if you are going to tie up money in CuNi keep the the US nickels you find in Canada

“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
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didou
Penny Sorter Member



Canada
47 Posts

Posted - 09/08/2010 :  05:11:43  Show Profile Send didou a Private Message
I love these coins they are perfect! according to coinflation.com as today they worth $0.0511235 almost exactly the same worth in face value than in metal. Not worth melting them but i like having that backup options just in case. In a world where the people own a democratic government and they work for us all the money should worth the same in metal than in face value.

If they where no copper/pure nickels/silver to hoard i would jump on CuNi. But like it was said before it ties up capital that i can use to hoard better metal for now. I'm afraid the ARP will remove the CuNi at the same time they will for nickels, so when pure nickel will be gone, there will be no CuNi to sort and hoard. No one will really have hoard any CuNi in Canada.

I keep a few roll of then for fun and a long-term bet that they will worth a premium since the ARP will have melted them all.

I have a similar question for more experienced scrapper than me : does scrap yard accept 75% cooper, 25% nickels allow to be melted and used as if. If not does they paid for nickels only or cooper only to be recover ? What percentage of the spot price are they paying?
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1945V
Penny Pincher Member



Canada
153 Posts

Posted - 09/08/2010 :  06:27:13  Show Profile Send 1945V a Private Message
ARP program is aggressively removing both Ni and CuNi from circulation simultaneously. My recovery rate is about 7-8%.
I agree 100% with Jade and cannot tie money in Canadian CuNi. I am keeping all American nickels since I get the value from CuNi content at a minimum and potential foreign exchange gain if the American dollar goes North.
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frugalcanuck
Penny Pincher Member



Canada
103 Posts

Posted - 09/08/2010 :  17:53:41  Show Profile Send frugalcanuck a Private Message
I think Im going to stop with CuNi as soon as I fill my current CuNi Nickel box. I dont plan on returning any of them because I feel they will fetch a premium in 25 - 30 years. I could also sell them if for some reason I need the cash.

Thanks for your ideas

One box of Nickels

11.65% .999 Ni
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