They are lighter then a US nickel. Same composition as all the US Nickels Legal to export Outside Canada you can do whatever you want with them
The arguement that the government might drop a zero is not likely to pan out in Canada. The Mint changed to steel back in 2000, so again, differant then in the USA.
My questions are:
1. Is there any market for these now?
2. What are the exit possibilities for the future?
“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
As you said the biggest advantage that Canadian (CuNi) nickels have over U.S. nickels In the U.S. is the ability to melt them. So therefore your market consists of people in the U.S. (or other countries) who believe that melting will one day be profitable. I tend to think by the time melting coins is a good idea, the value/demand for copper and nickel will be so high that the ban on melting U.S. nickels will likely be lifted. Although I think many Americans might favor the Canadian (CuNi) nickels over the U.S. nickels for various reasons, they might not be willing to pay too much over face value for them. So unfortunately any profit would likely be wiped out by shipping charges.
I'm in Canada as well, and I've saved a lot of CuNi Canadian nickels. I'm of the mindset that the price of copper and nickel will soon soar, and I'm willing to take the risk that my coins will fetch me a pretty good profit. Just my guess.
No, I dont think there is a markey for these now. However, there may be in the future.
You have a few differnt exit strategies. #1 sell them to a smelter #2 sell them to a foundry outfit that doesnt have to refine each metal out #3 sell them to another investor.
Im sure there are more than that, but I think those will be the most common. Option #2 or #3 would yeild you the most money
Selling Canadian CuNi Nickels?
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Posted - 05/24/2009 : 02:25:08
