War Nickel Prices? Dont seem too good?

[apush]

War Nickel Prices? Don't seem too good?

I have a decent buyer when it comes to halves, but I called the same today and I was quoted .50 cents for a War Nickel. I thought that was a bit low considering silver melt is currently at $35.67. A roll of WN's are at $80.28 which breaks down to $2.01 per coin as per Coinflation.

Any comments as to a fair price for WN?

apush

 

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[BuffaloBoy]

Re: War Nickel Prices? Don't seem too good?

I'd say at least $.80-$1.00 each sounds fair. At a local coin auction I went to wedsnesday, a bag of 105 WN's sold for $90... about 86 cents each the person paid for each of them.

 

[jeff of pa]

Re: War Nickel Prices? Don't seem too good?

War Nickels have $2.00 in silver in Them

Your Being Ripped Off

1942-1945 Nickel ** $2.0069
http://www.coinflation.com/

 

[Generic_Lad]

Re: War Nickel Prices? Don't seem too good?

APMEX's site says that they will buy them for $33.12 per $1 face. I haven't ever used AMEX but some people in the forum have and you might want to ask them about if their services are good.

 

[fistfulladirt]

Re: War Nickel Prices? Don't seem too good?

I believe the war nickels cost more to refine the silver, they contain 3 alloys - copper, silver and manganese.

 

[$ilver$urfer]

Re: War Nickel Prices? Don't seem too good?

Hi Apush,

I think you should easily be able to get $1.75 to full melt each if you advertise them on CL. I see people selling silver coins for full melt on CL all the time and people love it because there is no premium and no tax!

HH,

$ilver$urfer

 

[jnkhntr]

Re: War Nickel Prices? Don't seem too good?

http://www.mjpm.com/silver.cfm

buy price (roll) $45.97 sell price (roll) $66.97 with silver @ $35.67

 

[mleblanc138]

Re: War Nickel Prices? Don't seem too good?

I bought 40 War Nickels at $1.88 each recently. Then silver went even higher and they now have $2.01 of silver in them. I heard they're the lowest rung on the silver coin ladder, but at least I got them instantly at spot. Also since they're the lowest on the ladder, they would be good for small to medium purchases if the paper dollar completely failed us.

 

[mlayers]

Re: War Nickel Prices? Don't seem too good?

If a war nickel is over $2 what is the going price for a 40%er.......Matt

 

[kalebdad]

Re: War Nickel Prices? Don't seem too good?

Ampex Pays $1.65 minus shipping. Call it 1.50 Per. There is no reason you shouldn't be able to get 1 -1.25. I bought a bag full at a gun show today for $1.00

JD

 

[rileyboy]

Re: War Nickel Prices? Don't seem too good?

Hang onto them
rileyboy

 

[joad]

Re: War Nickel Prices? Don't seem too good?

It is illegal to melt nickels. This may be one reason they don't fetch near melt value.

Joad

 

[puckhead]

Re: War Nickel Prices? Don't seem too good?

Check your facts. Silver coinage is allowed to be melted, key word being SILVER and in this case we know that war nickels contain silver (35% if I remember correctly).

 

[SFBayArea]

Re: War Nickel Prices? Don't seem too good?

Check your facts. Silver coinage is allowed to be melted, key word being SILVER and in this case we know that war nickels contain silver (35% if I remember correctly).

The laws are contradictory since the law that says you can't melt pennies and nickels doesn't make any exception for war nickels.

This legal uncertainty makes it tougher for people who do want to melt them and effects pricing. It's very common that new laws get made that conflict with older ones yet they refuse to get rid of old ones or change them.

 

[puckhead]

Re: War Nickel Prices? Don't seem too good?

I do not think that there is a law that specifically prohibits melting cents or nickels. The US Mint passed a regulation prohibiting that but only congress can make laws. I see the confusion, but if you were to melt only war nicks there would be many years of precedant on your side. I also think it will only be a matter of time before it will be legal to melt cents and nickels, once they get rid of them it will unfold just like the silver coin situation did some 40+ years ago.

 

[DigginThePast]

Re: War Nickel Prices? Don't seem too good?

I do not think that there is a law that specifically prohibits melting cents or nickels. The US Mint passed a regulation prohibiting that but only congress can make laws. I see the confusion, but if you were to melt only war nicks there would be many years of precedant on your side. I also think it will only be a matter of time before it will be legal to melt cents and nickels, once they get rid of them it will unfold just like the silver coin situation did some 40+ years ago.

Sounds like a law to me. From U.S. Code (Federal Law) 31 5111(d).

(d)
(1) The Secretary may prohibit or limit the exportation, melting, or treatment of United States coins when the Secretary decides the prohibition or limitation is necessary to protect the coinage of the United States.
(2) A person knowingly violating an order or license issued or regulation prescribed under paragraph (1) of this subsection, shall be fined not more than $10,000, imprisoned not more than 5 years, or both.
(3) Coins exported, melted, or treated in violation of an order or license issued or regulation prescribed, and metal resulting from the melting or treatment, shall be forfeited to the United States Government. The powers of the Secretary and the remedies available to enforce forfeitures are those provided in part II of subchapter C of chapter 75 of the Internal Revenue Code of 1954 [1] (26 U.S.C. 7321 et seq.).

http://www.law.cornell.edu/uscode/31/usc_sec_31_00005111----000-.html

However, I do agree with you on a couple points. I think the ban on melting nickles and one cent coins will be lifted at some point, probably shortly after the metal content is changed in those denominations. As far as melting "War Nickels", one would have precedent on their side for sure. However, I think the lower payout on them is due to increased refining efforts/costs. As other silver dries up the payout on War Nickels will most likely increase.

I would look to sell those to a "silver bug" rather than a refiner.

 

[fistfulladirt]

Re: War Nickel Prices? Don't seem too good?

Does anyone have an stats on how much silver coin is even being smelted? Something tells me very little, if any, due to investor demand. Why would refineries even waste energy melting war nickels, or for that matter, 40% halves.

 

[puckhead]

Re: War Nickel Prices? Don't seem too good?

Does anyone have an stats on how much silver coin is even being smelted? Something tells me very little, if any, due to investor demand. Why would refineries even waste energy melting war nickels, or for that matter, 40% halves.

That is a very good question for which there is no factual answer. There was a huge melt that occurred when the melt ban was lifted back in the 70's I believe and there were no real records kept on what was melted. That is why the mintage numbers for silver coins are a good guideline but in no way an actual total of the amount left "in the wild". I think you would be amazed at what gets melted. I have heard rumors that there are places that will buy your copper cents to melt and there is not as much value in them as there are in the aforementioned silver coins. I think that the bottom line is the bottom line, if there is a buck to be made, someone will try to make and the higher metals prices we see, the more melting that will happen no matter the hardship or consequences. If you doubt this, look at the folks who sell drugs or move cigarettes from the southeast to the northeast to skirt the taxes.

 

[fistfulladirt]

Re: War Nickel Prices? Don't seem too good?

Does anyone have an stats on how much silver coin is even being smelted? Something tells me very little, if any, due to investor demand. Why would refineries even waste energy melting war nickels, or for that matter, 40% halves.

That is a very good question for which there is no factual answer. There was a huge melt that occurred when the melt ban was lifted back in the 70's I believe and there were no real records kept on what was melted. That is why the mintage numbers for silver coins are a good guideline but in no way an actual total of the amount left "in the wild". I think you would be amazed at what gets melted. I have heard rumors that there are places that will buy your copper cents to melt and there is not as much value in them as there are in the aforementioned silver coins. I think that the bottom line is the bottom line, if there is a buck to be made, someone will try to make and the higher metals prices we see, the more melting that will happen no matter the hardship or consequences. If you doubt this, look at the folks who sell drugs or move cigarettes from the southeast to the northeast to skirt the taxes.

My point is, is that there is more money to be made in the resale of silver coin, above and beyond melt value.