Nickels are currently worth just over face value to melt them. A couple of years ago they had 10 cents worth of metal in them. They must cost 8-9 cents to produce including labor, shipping, and overhead costs....so they are on their way out.
Storing them isn't as bad as you might think, I'd guess a 6 gallon milk crate would hold $1,000 or more in rolled nickels. It can never drop below face value. So a $1,000 in nickels is going to weigh about 220 lbs....pretty heavy crate !
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Base Metal Coin Melt Value Calculation[/FONT]
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Generated on December 16, 2011.[/FONT]
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Values Used:
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Total Face Value:[/FONT][FONT=Verdana, He<br>lvetica]
$100[/FONT][FONT=Verdana, Helvetica]
Coin Type:[/FONT][FONT=Verdana, Helvetica]
1946-2011 Jefferson Nickel[/FONT][FONT=Verdana, Helvetica]
Copper Price: [/FONT][FONT=Verdana, Helvetica]
$3.3153 / pound[/FONT]
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Nickel Price: [/FONT][FONT=Verdana, Helvetica]
$8.4319 / pound[/FONT]
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Answer:
[FONT=Verdana, Helvetica]Total melt value is $101.29.
(Exact value is $101.29028396459. $46.472893673945 worth of nickel, $54.817390290645 of copper.)
[FONT=Verdana, Helvetica]Statistics:
» There are 16.5347 pounds of copper and 5.5116 pounds of nickel in $100 face value of nickel(s).
» A roll of nickel(s) has 40 coins and is valued at $2.03 when copper is at $3.3153 / lb and nickel at $8.4319 / lb (exact value is $2.02581).
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