As most have heard there is a big coin shortage in the country. However what happened to the price of nickel this week is very unique. I went to my bank like I usually do and after the transaction I asked if I can get a few rolls of nickels, the teller looks in the drawers, spoke with other tellers and could only find 2 rolls of nickels.
Keep in mind that currently it costs 16.8 cents in raw material to make one 5 cent nickel.
That being said, are you planning on holding on to your nickels OR are will you still use them.
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But you also know there are laws that prevent you to destroy the coins (ex: melt them) right?
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I heard that there are laws about that but don’t plan on melting anything down. When parents found out that dime, quarters and halfdollars will no longer contain silver, they stopped using their coins and waited until new coins came into circulation and used those. Currently the silver coins are worth 4000% their face value.
I see a similar thing happening to nickel. So just decided to share.
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Nice point though. Yeah most of the fiat coins we using nowadays are rebranded, replaced for cheaper raw materials.
If it sticks to magnet = lesser value haha
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