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mickeyman
Penny Pincher Member
Canada
243 Posts |
 Posted - 01/12/2008 : 15:10:19
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I've completed a sample of 500 rolls of Canadian nickels from various banks in the GTA in a two month period at the end of 2007. Samples were collected in Guelph, Mississauga, and Toronto. I counted 999 Ni and 2007s, and compared these to the numbers recovered at the very beginning of 2007, to try to estimate both the number of new nickels entering circulation, and to try to estimate how many 999 Ni nickels have been removed from circulation. I counted CuNi as well, but had no basis for comparison.
Solving this problem requires solving a system of two equations with two unknowns (it would be three equations if I had had numbers for CuNi in circulation prior to 2007).
My numbers suggest the number of 2007 nickels in circulation is 5.7% of the total (it only felt higher), and approximately 6% of pure-Ni nickels in circulation were removed this year.
These calculations are sensitive to sampling methodology, and have likely been skewed by the large number of nickels picked up at the bank that time forgot. After some debate, I counted rolls which had obviously been sorted (all steel), because they are increasingly a factor. It is also very sensitive to the initially assumed proportion of pure-Ni nickels in circulation (I used 22.6% for the beginning of 2007).
One way to think about this is to imagine that if there were 1000 nickels in circulation at the beginning of 2007, and if 226 of those were pure nickel, then the mint added 57.15 new nickels into circulation, and 13.67 pure-Ni nickels were removed from circulation by various parties. So obviously you guys are not pulling your weight. On the plus side, it appears that the Mint's alloy recovery program is not very active in nickels. (Now pure-Ni quarters, on the other hand, have fallen dramatically).
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Not all who wander are lost. |
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insurrection1517
Penny Collector Member
USA
262 Posts |
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fiatboy
Administrator
912 Posts |
Posted - 01/12/2008 : 18:31:57
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I really enjoy information like this. Thanks to both of you for keeping your Yankee neighbors informed.
If I were in Canada, I'd be searching nickels like crazy. Coin shops in the States are just starting to take notice of .999 Ni nickels.
These coins pack real potential. Glad to hear the alloy recovery program hasn't completely ruined it yet. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 01/12/2008 : 21:06:25
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Once in November I bought twenty rolls of nickels from one bank. All had been sorted. I then went to another bank nearby, and bought ten more rolls, and seven of those had been sorted--all steel.
On the other hand, I once bought ten rolls of nickels from a bank in Mississauga, and they were sorted too--but they were all cupronickel! |
Not all who wander are lost. |
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n/a
deleted
8 Posts |
Posted - 01/12/2008 : 22:14:47
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| I've managed to snag a small handfull of the .999 Ni nickels here from roll searching in the Detroit area. I would really like to find a whole bunch more! Just out of curiosity, has there been an uptick in US change discovered north of the border? There seems to be a lot less Canadian change floating around here since the loonie went to par with the US dollar. |
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insurrection1517
Penny Collector Member
USA
262 Posts |
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How we are doing in Canada
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