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jadedragon
Administrator
Canada
3788 Posts |
 Posted - 12/07/2009 : 22:30:49
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I've been looking through Canadian dimes occasionally. The silver is hard to find but there are still some pure Ni dimes to be found in the customer wrapped rolls. The Mint is pulling these to melt so we often get screened rolls that are solid steel.
Is there any market for Pure Ni Dimes? Melt is about 3 cents US right now. A US dime is a mix of Cu and Ni and worth $0.0173651 melt by comparison.
Upside is - compact and easy to store. Upside is there is a currency play in the Canadian $ for American hoarders, or future move above melt for anyone.
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“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 12/08/2009 : 00:01:14
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| Come to think of it, I seem to only find the newer Canadian dimes mixed in with my Strings & Sons rolls and such. I think the non-Ni dimes are from 2000 on, right? I don't find any Canadian dimes in the plastic wrapped Brinks rolls. My only conclusion is that they may be magnetically separated from the NiCu and silver US dimes. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/08/2009 : 02:39:48
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Jerry I agree that magnets are used to pull Canadian dimes out, but the ones you see must not be going past the magnets since Canadian Dimes were magnetic Pure Ni part way thru 1968-2000. 2000+ are also magnetic because they are Ni plated steel.
In fact, since my targets in dimes are non-magnetic silver and non-magnetic US dimes, maybe I could use magnets to separate away all the coins I don't want. The rig would need to attract, but not stick the coins to the magnet so the coins can keep feeding. |
“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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1945V
Penny Pincher Member
Canada
153 Posts |
Posted - 12/08/2009 : 14:09:55
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I occasionally search Canadian dime rolls, but rarely keep the Ni dimes (unless they are BU or nearly BU).
Half the rolls you get at Canadian banks are ARP screened courtesy of CDI and contain nothing below 2000.
The price of nickel would have to revert to its peak of $25 /lb for Canadian Ni dimes to be worth their instrisic value, so I don't bother with them at the moment.
5 cent nickels are quickly disappearing from circulation. My yields are slightly above 5%.
These are still worth it for the 50% premium above face avlue. |
Edited by - 1945V on 12/08/2009 14:11:19 |
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garnede
Penny Collector Member
USA
386 Posts |
Posted - 12/08/2009 : 14:59:54
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| You might consider keeping the NI dimes that are in good condition for coin collectors in the future. With so many years being pulled out of circulation it will be harder and harder for collectors to build sets with every year. It might pay off in several years. |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 12/08/2009 : 17:36:26
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I keep Ni dimes that I get in change, but don't buy rolls to search for them. I agree that they may one day have some kind of numismatic value as so many are being taken out, so the premium is in BU or better.
I have done the same with the quarters. |
Not all who wander are lost. |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 12/10/2009 : 10:38:08
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| On a metal value basis, 2 pre-2000 nickels are worth more than a .999 Ni dime. You probably were aware of that. I am not sure how easy it is to find either species in Canada. From my readings here, the .999 Ni nickels are averaging less than 10% yield per a box. Given that, how is the alloy recovery program separating the CuNi nickels? |
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1945V
Penny Pincher Member
Canada
153 Posts |
Posted - 12/10/2009 : 14:46:42
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Jerryspringer,
Actually, one pre-2000 (CuNi) Canadian nickel is worth more than a Ni dime according to coinflation. (4.1 cents vs 3.2 cents)
My lastest yields are 6.6% for Ni nickels (I was getting 20% last year) and about 13% for CuNi nickels.
From what I heard, the ARP program is separating nickels by looking for "P" or "RCM" logos found only on post-1999 steel plated coins using a optical scanner.
Separating Ni and CuNi afterwards from the same pile should be pretty easy. Ni is magnetic and CuNi is non-magnetic. I am sure another machine with magnetic secondary separator could do the job pretty easily. |
Edited by - 1945V on 12/10/2009 14:47:28 |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/10/2009 : 15:21:49
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Yes I am aware that the CuNi Nickels are worth more for melt then the Ni dimes. However, a CuNi Canadian nickel is lighter then a CuNi US nickel. There is also a large number of US nickels available from any US bank (and even Canadian banks if you want to sort them out). These factors will limit the market for CuNi nickels.
Would anyone buy a $250 bag of Canadian Ni dimes for say $250 US plus shipping? I'm just discussing, not offering here. I'd have to build the bag. |
“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Exploring the Market for Ni Dimes
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