Letter: Composition of Nickels


JWR has previously spent some time talking about the conversion of the American nickel to use a different metal content, with predictable results on the value of the existing nickels. I have not seen any discussion of this issue for a long time. Any update? Is it still being planned? – R.H.

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How about an update on the nickel page? Are we still good, or should we be looking for old nickels now? THANKS and God bless!! – K.P.

JWR Replies: Surprisingly, the composition of nickels still has not yet changed, but I do expect to see them either dropped from circulation or a change in their composition to stainless steel in 2015. See: http://news.coinupdate.com/obamas-buget-proposal-addresses-coin-composition-changes-1927/. The authority is there. They are just delaying pulling the trigger. It might not come until 2016, but we can still plan on it.