How Much Is the Metal Worth in My Coins_

��How Much Is the Metal Worth in My Coins_

If you have ever wondered what your coins are worth just primarily based on the metal value, this is the site to go to. For instance, if the bottom fell out of the U.S. Dollar, and individuals had to trade coins based on their intrinsic values alone, there was a point in time when the metal in a U.S. nickel was worth far more than a Presidential Dollar! kartupoker link alternatif

Coinflation keeps a running total of U.S. and Canadian coin melt values calculated from the actual industry values of the valuable metals and bullion in them. They track present coins as well as older coins, so you can appear up your Morgan Dollars, too. The web site is run by Alec Nevalainen as a hobby, but to me it is vital day-to-day reading, specifically his coin-worth-related news aggregator.

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Why Does the Metal Worth Matter?
For base metal coins, coins produced from copper, nickel, zinc, aluminum, etc., this is typically not of relative importance. Unless, the costs for these metals experiences some sort of marketplace fluctuation that drives the cost unusually high. For instance, in 2011 a pound of nickel was promoting for over $14.00 USD per pound. In 2016, it is selling for less than $four.00 USD per pound. Copper was experiencing a related peak in cost at this time also.

A United States nickel is made with 75% copper and 25% nickel. In 2011, a United States nickel contained more than 5 cents worth of metal. Add the additional costs of labor to the manufacturing expense and it was costing far more than five cents to make United States nickel. In other words, the United States was losing income on every single nickel they minted.

Can You Melt Pennies and Nickels?
Since of the rising price of nickel and copper that started in 2005, the United States passed a law that created it illegal to melt pennies and nickels for their metal content. In addition, it is illegal to carry much more than 5 dollars worth of pennies and nickels outside of the United States when traveling. This also extends to shipments which are limited to�$100 of the coins abroad "for genuine coinage and numismatic purposes."

"The nation demands its coinage for commerce," U.S. Mint director Ed Moy mentioned in a statement. "We don't want to see our pennies and nickels melted down so a few men and women can take benefit of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers."

Is It Legal to Melt Other Coins?
At the moment (Feb. 2016), you can melt any other United States or foreign coin (with the exception of pennies and nickels). Many coin dealers acquire old silver coins and gold coins strictly on their melt worth. They then send these coins to refiners to be melted and produced into bullion.

Edited by: James Bucki