A nickel is worth more than a dime

Full story: KUSA Denver 19
" The U.S. Mint says it has a problem. The nickel coins it is making are now costing them more than a dime each to turn out. Full Story
PenniesForSale

Denver, CO

#1 Apr 23, 2007
Let's go back to stones. "In God We Trust", right? It makes no difference what they are made of. Maybe, this could be a war side-effect. Just as was the steel pennies of the latter generation because they needed the copper for the bullets. Hmmmm...
Mr Forex

AOL

#2 Apr 24, 2007
That's your normal government stuff, right there. It costs more tha it's worth.
Paul

Denver, CO

#3 Apr 24, 2007
Interesting info. Do you have any nickels in a spare change jar? Remember what many experts have said about this century eventually "belonging" to China? Hmmmmmm......
Chris Sanchez

United States

#4 Apr 24, 2007
And guess who pays for the difference in that cost? Another brilliant use of taxpayer money.
Jenna

Denver, CO

#5 Apr 24, 2007
I think that is really weird! I wonder what is going to happen?
cheri

United States

#6 Apr 24, 2007
well if I save my nickles now and hord them away, by the time I have enough to sell for extra $, the problem will be over and the nickles will be worth a nickle and I will have a lot of stupid nickles in my drawer. ha ha ha
Justin

Englewood, CO

#7 Apr 24, 2007
slow news day?
Erik

United States

#8 Apr 24, 2007
The "cost" of producing a nickel includes a lot of overhead at the mint. The actual value of the metal in the nickel (which is only partially nickel) is still worth less than five cents.
Eric

Denver, CO

#9 Apr 24, 2007
Since it is costing a dime to making a nickel, who is footing the bill? The taxpayer as usual???
Jason

Denver, CO

#10 Apr 24, 2007
It's not just a Denver mint problem. It's a problem for the entire US Mint and we are paying the bill!
Jason

Denver, CO

#11 Apr 24, 2007
Erik from Castle Rock, where do you get your information from? A nickel consists of 75% copper & 25% pure nickel with a total weight of 5 grams. The metal value of nickel today is $22.41 a pound the value of copper is $3.55 a pound. That makes the metal value of a nickel to be 9.11 cents. Figuring production cost, the expense to produce the nickel would be more than 11 cents.
Doug

Denver, CO

#12 Apr 24, 2007
Watch for trucks with nickels heading for Mexico!!
CHRIS

United States

#13 Apr 24, 2007
Erik wrote:
The "cost" of producing a nickel includes a lot of overhead at the mint. The actual value of the metal in the nickel (which is only partially nickel) is still worth less than five cents.
ACTUALY.. ITS WORTH 7.9 CENTS(scrap value) BECAUSE OF ITS METAL VALUE. NICKEL CLOSED AT JUST OVER $22 A POUND TODAY & COPPER AT $3.55 unfortunately the mint has just passed an ordinence making it a crime to melt them.
Frugi

United States

#16 Apr 25, 2007
Quote:

"A similar practice happened in the 1960s when people hoarded silver dimes, quarters and half dollars, which were worth more than their face value."

(Copyright KUSA*TV. All rights reserved.)

__________

To be correct it should read:

A similar practice happened in the 1960's when people began hoarding silver dimes, quarters, and half dollars, which to this day remain worth more than their face value.
John

Peoria, IL

#18 May 1, 2007
What I can't understand is how the U.S. Mint can unilaterally make it a crime to melt nickels, or cents for that matter. My understanding is that such laws needed to be run through Congress first. Does anyone have any link to something giving the Mint this kind of power?
John

Peoria, IL

#19 May 1, 2007
CHRIS wrote:
<quoted text>ACTUALY.. ITS WORTH 7.9 CENTS(scrap value) BECAUSE OF ITS METAL VALUE. NICKEL CLOSED AT JUST OVER $22 A POUND TODAY & COPPER AT $3.55 unfortunately the mint has just passed an ordinence making it a crime to melt them.
Copper's now at $3.76 as I write this so now YOU are wrong-wrong-wrong!...gimme a break. God save us from the anal retentives who have to always be right and nitpick everything. The point is that it costs more than a nickel to make a nickel. Let it go.
Henry

Alameda, CA

#20 May 30, 2007
John wrote:
What I can't understand is how the U.S. Mint can unilaterally make it a crime to melt nickels, or cents for that matter. My understanding is that such laws needed to be run through Congress first. Does anyone have any link to something giving the Mint this kind of power?
No. It's just called tyranny, and it's coming to everyone's doorstep. www.monerize.com
Jim Lundberg

United States

#21 Nov 16, 2009
Erik wrote:
The "cost" of producing a nickel includes a lot of overhead at the mint. The actual value of the metal in the nickel (which is only partially nickel) is still worth less than five cents.
I'm amazed that people will accept a coin at the value the mint indicates without any intrinsic value. The silver quarter, which used to almost buy a gallon of gas in the 1960's, now STILL almost buys a gallon of gas. The clad quarter will never duplicate that feat. BTW: The American nickel now is worth 7.5 cents in melt value
Henery Hank

Saint Paul, MN

#28 Dec 5, 2012
PenniesForSale wrote:
Let's go back to stones. "In God We Trust", right? It makes no difference what they are made of. Maybe, this could be a war side-effect. Just as was the steel pennies of the latter generation because they needed the copper for the bullets. Hmmmm...
I can't beleif I don't get more action from the ladies.

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