Letter Re: Stockpiling U.S. Pennies and Nickels
Hi, Jim,. I don’t remember this topic being brought up, so I’ll ask about it. According to www.coinflation.com, the current melt value of a pre-1982 [U.S.] penny (95% copper) is $.02, twice its face value. The melt value of a [U.S.] nickel (75% copper, 25% nickel) is $.09, nearly twice its face value. Melt value is, of course, dependent upon the metals markets, which fluctuate daily. While most metal prices have increased dramatically over the last few years, there’s no guarantee they’ll continue to rise (and prices might even fall), but at this point the long-term trend seems upward. With …