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 Why are APMEX prices way below melt?
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Nickelless
Administrator


USA
5580 Posts

Posted - 06/04/2008 :  01:40:10  Show Profile Send Nickelless a Private Message
I was just looking at the prices for $1 face of war nickels on APMEX:

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And while there's an apparent 6-cent differential between their apparent spot price of $16.73 and the $16.79 quoted on Coinflation, I couldn't help but notice that APMEX's sales price for a lot of 20 war nickels is so far below the melt value listed on Coinflation at the moment:

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Why is APMEX selling more than 10 percent below melt for war nickels? (I haven't yet checked other junk coins listed, just war nickels caught my eye.)


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Saul Mine
Penny Collector Member



USA
343 Posts

Posted - 06/04/2008 :  02:41:18  Show Profile Send Saul Mine a Private Message
"Melt" is not very meaningful for war nickels because most refiners won't buy them.

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CoinHunter53562
1000+ Penny Miser Member



USA
1805 Posts

Posted - 06/04/2008 :  07:54:00  Show Profile Send CoinHunter53562 a Private Message
I dont think coinflation takes into account wear and is instead posting numbers as if the coins were straight from the mint.

My hobby: collecting real money 1 copper cent or nickel at a time.

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tmaring
Penny Collector Member



USA
302 Posts

Posted - 06/04/2008 :  07:55:13  Show Profile Send tmaring a Private Message
It's the manganese in them... it's a pain to try to refine that out. But you're right, war nickels are one of the greatest silver bargains around! I overstruck them for my "Eye of Sauron" coin, and they look great. They're tricky to anneal, but they come out bright shiny silver looking. There is no cheaper way to come up with a 35% silver blank.
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CoinHunter53562
1000+ Penny Miser Member



USA
1805 Posts

Posted - 06/04/2008 :  08:00:01  Show Profile Send CoinHunter53562 a Private Message
tmaring - do you have a picture of one of those? I would love to see it.

My hobby: collecting real money 1 copper cent or nickel at a time.

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Nickelless
Administrator



USA
5580 Posts

Posted - 06/04/2008 :  21:08:30  Show Profile Send Nickelless a Private Message
quote:
Originally posted by tmaring

It's the manganese in them... it's a pain to try to refine that out. But you're right, war nickels are one of the greatest silver bargains around! I overstruck them for my "Eye of Sauron" coin, and they look great. They're tricky to anneal, but they come out bright shiny silver looking. There is no cheaper way to come up with a 35% silver blank.


Just curious, what is it about the manganese that makes it hard to refine out?


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--Latest article: Stocking up on spices to keep food preps lively

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CoinHunter53562
1000+ Penny Miser Member



USA
1805 Posts

Posted - 06/04/2008 :  21:30:23  Show Profile Send CoinHunter53562 a Private Message
quote:
Just curious, what is it about the manganese that makes it hard to refine out?


tmaring can probably answer more accurately but I do believe the manganese is highly flammable and reactive so maybe that's it?

My hobby: collecting real money 1 copper cent or nickel at a time.

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swusc
Penny Hoarding Member

USA
553 Posts

Posted - 06/07/2008 :  11:27:51  Show Profile Send swusc a Private Message
Looks like you could heat the war nickels to 2300 F to form a liquid of the metal alloy and then cool the alloy back to 1800 F. You should have solid copper and Manganese floating on the liquid silver.
Couldn't you drain the silver liquid.

I could see you needing a lot of war nickels to make this commercially work though.

`Everybody is ignorant. Only on different subjects.' Will Rogers

"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966.
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