Do you think people were melting nickels in large amounts before the ban or were they mainly focusing on copper cents. The reason I ask this is they made significantly less nickels therefore they would become scarce quicker than pennies.
Do you think people were melting nickels in large amounts before the ban or were they mainly focusing on copper cents. The reason I ask this is they made significantly less nickels therefore they would become scarce quicker than pennies.
SLV appears to have been a major player prior to the melting ban. I don't recall him reporting if nickels were being melted or not. I know he did testing on Canadian nickels at that time so I assume U.S. nickels were at least being considered. If the profit was there at that time they would not have even needed sorting.
My guess though is that they were not melted. The melt value of the nickel had not peaked then and his buyers were not paying full melt value on any coins.
************************ For good times to come or bad times to come, now is the time to save your copper or nickel coins.
Do you think people were melting nickels in large amounts before the ban or were they mainly focusing on copper cents. The reason I ask this is they made significantly less nickels therefore they would become scarce quicker than pennies.
SLV appears to have been a major player prior to the melting ban. I don't recall him reporting if nickels were being melted or not. I know he did testing on Canadian nickels at that time so I assume U.S. nickels were at least being considered. If the profit was there at that time they would not have even needed sorting.
My guess though is that they were not melted. The melt value of the nickel had not peaked then and his buyers were not paying full melt value on any coins.
************************ For good times to come or bad times to come, now is the time to save your copper or nickel coins.
Originally Posted by Copperhead One more question please while I got you. Did you ever send U.S. nickels to the melting pot?
Nope. Waste of time. Our specialty that gave us the market edge was our ability to sort high volumes. With nickels there is nothing to sort. I understand, however, that Antares Metals in Pittsburg was strongly heading in the nickel direction... whether they ever did it, I don't know.
***************** The above post is intended for entertainment purposes only and in no way reflect the opinions of the flesh and blood person writing the text. All writings under the screen name "copperhead" are merely a characterization of the personna created.
Were people melting nickels?
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Posted - 04/14/2007 : 12:19:35
