good price for war niks

[billionaire]

Hey guys i was wondering if i should buy a roll of war nickels for $50 or is this not a good price because of the low silver percentage. The current melt value is 49.10. Im extended my break from crh while i dump sort and/or sell all the coins i have piled up. Im also going to make a thread of my auction finds. Any opinions would be great.

 

[uncubano13]

I would buy it!

 

[GlenDronach]

It's tough. It's close to melt, but i'd check to see what they sell for too. If you want to get out of them, what's the going rate per war nick? Take all the fees & shipping and see if you're ahead or not.

I've had "great deals" that I haven't been able to sell for a profit when it comes to vintage items. It's a great price, but will someone be willing to pay more for it and make it worthwhile, or are you stuck with 'em?

 

[FormerTeller]

It's usually difficult to sell war nickels for melt.

 

[Iamrussell]

Ya I'd not buy them because you can never sell them for melt- unless you have a source to sell them for melt then ya buy them

-------------------------------------
just keep stacking, just keep stacking, stacking stacking stacking

 

[Joe777Cool]

I have a lot of 500 war nicks I would like to sell for $600, thats below melt. $6 shipping.

PM me if interested

Sorry - not trying to thread hijack

 

[billionaire]

Sorry guys but i could resist buying it. Now i have another question. Whats a good price for a roll of dimes?

 

[Old Bookaroo]

At the risk of pointing out something obvious to those with far more experience than I have, melting us pennies and nickels appears to be illegal.

April 17, 2007

United States Mint Limits Exportation & Melting of Coins
Final Rule Maintains Policy Established in December

WASHINGTON - The United States Mint today announced a final rule to limit the exportation, melting, or treatment of one-cent (penny) and 5-cent (nickel) United States coins, to safeguard against a potential shortage of these coins in circulation.

United States Mint Director Edmund C. Moy had approved an interim rule on December 12, 2006, to be in effect for 120 days. Enactment of the final rule was pending public comment, solicited during a 30-day period from the date of the interim rule’s publication in the Federal Register on December 20, 2006.
...

The new regulation authorizes a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulation. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

The United States Mint Pressroom

Good luck to all,

~The Old Bookaroo

 

[billionaire]

I wasnt planning on melting them just selling them on ebay

 

[baddbluff]

At the risk of pointing out something obvious to those with far more experience than I have, melting us pennies and nickels appears to be illegal.

April 17, 2007

United States Mint Limits Exportation & Melting of Coins
Final Rule Maintains Policy Established in December

WASHINGTON - The United States Mint today announced a final rule to limit the exportation, melting, or treatment of one-cent (penny) and 5-cent (nickel) United States coins, to safeguard against a potential shortage of these coins in circulation.

United States Mint Director Edmund C. Moy had approved an interim rule on December 12, 2006, to be in effect for 120 days. Enactment of the final rule was pending public comment, solicited during a 30-day period from the date of the interim rule’s publication in the Federal Register on December 20, 2006.
...

The new regulation authorizes a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulation. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

The United States Mint Pressroom

Good luck to all,

~The Old Bookaroo

We all know that.

No one is going to melt anything. When we say melt we are referring to "melt value." Actually, you can melt war nicks legally because they have silver in them and the law doesn't apply to silver coins. It's not cost effective tho, so no one actually melts them. Maybe if silver was $50/oz.

 

[SilverSearcher103]

I think you did good. That's 1.25 per coin which is only a few pennies over melt. My coin shop sells them for a dollar a piece, so I bought a bunch too. Just wait till silver goes up a little then flip them on eBay for 65-70.

 

[Adamkir]

Hell yeah .. I pay a dollar all day long for war nickels.. I have amassed quite a few lately... The no premium or under premium is a bargin right now.. I buy every canook I can get my hands on.. I am getting.silver $1 Canadians for $12.. When earlier this year I was selling for well over that price.. The paper market is destine to lose its grip on the physical holdings markets..

 

[ArkieBassMan]

Sorry guys but i could resist buying it. Now i have another question. Whats a good price for a roll of dimes?

I think you did ok on the war nickels. You could have shopped around and beat the price a little, but you didn't grossly overpay.

Right now, junk silver Roosevelts are selling on ebay for ~$90 per roll. Mercs fetch a little more.

 

[FormerTeller]

At the risk of pointing out something obvious to those with far more experience than I have, melting us pennies and nickels appears to be illegal.

April 17, 2007

United States Mint Limits Exportation & Melting of Coins
Final Rule Maintains Policy Established in December

WASHINGTON - The United States Mint today announced a final rule to limit the exportation, melting, or treatment of one-cent (penny) and 5-cent (nickel) United States coins, to safeguard against a potential shortage of these coins in circulation.

United States Mint Director Edmund C. Moy had approved an interim rule on December 12, 2006, to be in effect for 120 days. Enactment of the final rule was pending public comment, solicited during a 30-day period from the date of the interim rule’s publication in the Federal Register on December 20, 2006.
...

The new regulation authorizes a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulation. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

The United States Mint Pressroom

Good luck to all,

~The Old Bookaroo

Actually, when the law was finalized, it was revised to create an exemption allowing war nickels to be melted. Specifically:

The prohibition contained in
§82.1 against the exportation, melting,
or treatment of 5-cent coins shall not
apply to 5-cent coins inscribed with the
years 1942, 1943, 1944, or 1945 that are
composed of an alloy comprising
copper, silver and manganese.



http://www.usmint.gov/downloads/consumer/FederalRegisterNotice.pdf

Melt away!

 

[CRH]

sounds like a good deal to me my coin shop sells them for a dollar 25

 

[GarouLady]

I like collecting war nickels and buffaloes because everyone else around here goes for half dollars, quarters and dimes, hardly no one goes for war nicks or buffs. And I have checked around at LCS and most of them want $1.50 to 2 bucks for each war nick and will only give me 35 cents for every buff I have. What a joke. For that I'll keep them. I so can't wait to get my energy up again so I can start CRHing again.

Sincerely, Garoulady