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14 Aug 2021

Nickles are worth $0.06???

Coins | user_79911

Did you know that the value of a 1946-2014 Jefferson Nickel is $0.06 (as of Aug 14, 2021). I did not until I was playing around with PCGS’s Coinflation. Coinflation is an app and a website that shows you melt values of all U.S. coins, silver and base. We all know copper pennies are worth more than face, so I was looking to see if any other base coins were worth more than face value melt. So, I looked at the nickel melt value and found that it was $0.06. I guess this was due to the copper in the coin. Nickels are 75% copper after all. Thanks to Coinflation we see that there are 0.0083 pounds of copper and 0.0028 pounds of nickel in $0.05 face value of nickel. So, with today's copper price at $4.2857 a pound and today's nickel price at $8.8322 a pound, Coinflation can calculate that the exact value of one nickel is $0.059770901739957. $0.024339584880455 worth of nickel, $0.035431316859503 of copper. So, A roll of nickels has 40 coins and is valued at $2.39 when copper is at $4.2857 / lb and nickel at $8.8322 / lb (exact value is $2.39084). Unlike copper pennies, the nickels with this metal composition so the mint is wasting money on nickels. Does this mean the mint will get rid of the nickel? Well, more than 1,000,000,000 nickels are made a year so does this mean the mint is wasting $10,000,000 A YEAR on making nickels? If it's as simple as just changing the metal composition of the nickel, why does the mint not do it? Theoretically you could go to the bank, buy a roll of nickels for $2 and make $0.40? Or, even better yet, buy a box of nickels that has 50 rolls in it, and make $19.54? Kind of. It's not that simple, it is against the law to melt any circulating coins. “To protect the coinage of the United States, the United States Mint is adopting a final rule that prohibits the exportation, melting, and treatment of 5-cent and one-cent coins.” - federalregister.gov However, you will be able to melt them once they stop making nickels. You don't have to melt coins for the metal contents to be valuable though. People buy constitutional silver all the time, and that stuff is not 100% pure. So, can you make money off of buying nickels for $0.05 and selling them for $0.06? Well that's up to you. Thanks for reading and I hope you liked it.

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24 Apr 2021

V75 Silver Eagle

Coins | user_79911

The V75 Silver Eagle came out November 5, 2020. The U.S. Mint said that it would be a proof coin. I had just gotten into coin collecting when this coin was coming out. The mintage of the coin was supposed to be 75,000. The lowest mintage for a silver eagle EVER! There was A LOT of hype for this coin. But not only this coin. There was also a twin. A V75 GOLD EAGLE! Even better, this gold coin would have a mintage of only 1,945! The lowest mintage coin ever made by the U.S. mint! On Ebay, there were a lot of pre-sales. The value on these coins were in the thousands! But how much would they cost from the U.S. Mint? Well the V75 SIlver Eagle would be only $83! The V75 Gold Eagle would cost $2,600! So there was a lot of cash to be made. But let's talk about the coin more. The V75 coins were made as an anniversary for world war 2. It had been 75 years since world war 2, so that is the V75. The V75 on the coin is in the lower right hand side of the coin. The V75 mark itself is called a privy mark. The V75 coins were only minted in the Westpoint mint. Fun fact, in 2019-2020 the Westpoint mint made some quarters! The ones made in 2020 have a V75 privy mark on the obverse of the coin! On the day the coins went live, some big coin dealers were asking a ton of people to go and try and buy a V75 coin, then when they had it the big companies would pay them more then the people paid for the coin, and make some cash. What the people did not know was that the big companies would not pay them a fair price for the coin! I was one of the people lucky enough to get a V75 coin. I got the V75 Silver Eagle. I am a kid, so the Gold Eagle was out of my price range. There was a household limit of 1. There were thousands of people online that day trying to get a V75 coin from the U.S. mint. Only a few of the people that set out to get a V75 coin got one. It is now, and will be for a long time, one of the most rare eagle coins ever made.

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23 Apr 2021

Keep Copper Pennies?

Coins | user_79911

It is a well known fact that pennies minted from 1982 and back are made of 95% copper. These copperpennies are not rare at all. When I coin roll hunt, I find LOTS of copperpennies. Today we will dive into whetherto keep them or not. On first thought, you might think not becausecopper is not worth much. But I am here to tell you otherwise. If we take a look at the web, it takes 10-11 copperpennies to have a melt weightof 1 OZ of copper. If you look at the price of copper per oz today, it is $0.27 per oz. If we take a look at coinflation (A PCGS app) the copper melt value for ONE COPPER PENNY is $0.03 So if I were to go to the bank and get ONE roll ofpennies and there are, lets say 10 copperpennies in there. So 1/5 of the roll is copper. Then I have $0.30 And it cost me $0.10 So, as far as I can tell YOU should keep copperpennies. BUT ITS NOT THAT SIMPLE! Thepennies do not have this copper value unless they are melted and refined. BUT YOU CANT JUST MELT A BUNCH OF PENNIES! The government won'tlet you! Why, you might ask. Well, then there would be almost nopennies in circulation. So why keep them? Well because, you WILL be able to melt them! Yep! But only when the U.S. Mint stops makingpennies. You might think, when is that? Well it is estimated to be in 2026. But some people don'twant to wait that long! So they think of ways to melt them NOW! Some think, hey why not just fly them out of the U.S. and melt the there? Well because, the U.S. will only let you bring so manypennies out of the country. You might be asking how many? Well, the answeris not enghouth to make the trip worth it. So, your best option is to keep those copperpennies untilthey get rid of the penny, and sell them then. It will be a nice way to make so money! It might seem not worth it now, but in 2026 you will smile upon the day you started to save copperpennies! Thank you for reading, and good luck coin roll hunting! I am a kid, so the only coin denomination I can afford ispennies! I have a BIG tub full of copperpennies! Like 1,000's! So I will be SO glad when its 2026. Thanks for reading.

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