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mickeyman
Penny Pincher Member
Canada
243 Posts |
 Posted - 06/13/2007 : 19:57:29
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Hi all
Does anyone know if the metal content for Canadian "nickels" changed in 2006? I thought they were supposed to be stainless steel, but I am finding a significant fraction of them are not magnetic? Is it possible that some employee at the Mint found a few sheets of cupronickel lying around and used them, or is something else going on?
Not all who wander are lost.
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 06/13/2007 : 20:28:09
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Yes, they switched back to cupronickel because the coins last a lot longet han steel ones. Also - where are you collecting, and what sort of percentages are you seeing? Getting any pre-sorted boxes?
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 06/13/2007 : 20:41:16
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I'm collecting in Canada. Until this year I collected exclusively silver and gold, and have only started picking up the base metals. I actually used to collect the pre-1982 nickels starting years ago, but only casually (from pocket change). I got the idea visiting my silver supplier, who had about 180,000 pre-1982 nickels and spoke of a buyer in the US. Even now I don't do it that seriously, I've only bought maybe 20 rolls of nickels and about the same amount of pennies. In terms of percentages, I'd say that I found pretty nearly an average of 9 Ni nickels per roll but I really haven't counted the CuNi nickels.
I tested some of the recent (Canadian) pennies magnetically and also find from time to time some of them are not magnetic. The 2007s I think, and occasionally other years from 2003 up. But most of those are magnetic.
Not all who wander are lost. |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 06/14/2007 : 15:53:01
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Hi Mickeyman.
I am a Canadian nickel sorter as well. I am always looking for other outlets in Canada to sell them and it sounds like your dealer has a pretty big one. What city may I ask? |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 06/14/2007 : 20:59:02
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Hi fasttcar:
To be honest I didn't ask. My thinking with the nickels is that they will be a little like silver coins, which I am not saving to melt down, but because even now (and more so in the future) they will be usable as trading. There is an underground economy running on silver coins, and they have the advantage of generating tax losses because they are legal tender. My thinking is that before long, the nickels will be used for the same purpose. To my mind, that will be more practical than melting them. (Not that I would ever be involved in the underground economy .
Not all who wander are lost. |
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Canadian nickels 2006
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