melt ban on nickels vs melt ban on <81 pennies?

[s3p2]

Ok, so there is talk of the melt ban being lifted for pennies but what about nickels? May we be waiting 25 - 30 years after thethis nickel changes composition for the melt ban on nickels to be lifted?

[barrytrot]

Can you please reference the "talk of lifting the melt ban"?

Is that talk among Congress or just random websites?

[s3p2]

Just saying hoarders hoping the ban will be lifted and supposedly the govt considering it. I'm pretty new to this (sorting pennies for about 8 monthes in my spare time). I've been thinking, nickels have to be considered a much longer investment right? The penny has been zinc for 30 years and you still can't melt one. If the nickel changed composition in 2012, it seems we could not expect a lift on melting them until around 2041. Right?

[68Camaro]

Just saying hoarders hoping the ban will be lifted and supposedly the govt considering it. I'm pretty new to this (sorting pennies for about 8 monthes in my spare time). I've been thinking, nickels have to be considered a much longer investment right? The penny has been zinc for 30 years and you still can't melt one. If the nickel changed composition in 2012, it seems we could not expect a lift on melting them until around 2041. Right?

I'm too lazy to look up details, but shouldn't be hard to find. The melt ban - the most recent one - just went into effect a couple years ago. So "still can't melt one" doesn't really describe what has happened, since several years ago you COULD legally melt them.

[inflationhawk]

It wasn't until about 2006 that it made any economic sense to melt a penny for copper, there was no need for a melt ban. There will have to be several years of build up of supply of nickels of a new composition before the old nickels are allowed to be melted. Just like the paper dollar hasn't been retired as new stock of dollar coins is being built. I suspect it will be at least 8 or 10 years after a new nickel composition goes in effect before old nickels can be melted. That doesn't stop me from stacking them now though...no sorting is needed and it easy. Copper pennies can be monetized as soon as the penny is retired from use. I think that will happen in the next couple of years.

[barrytrot]

Regarding nickels: If they change the composition you don't need to melt them to be at least somewhat profitable because a year or so from the composition change point you will be able to start developing the market for "old nickels" similar to how the sorted copper-cents have a market despite not being meltable today.

[s3p2]

Thanks... I guess I had no idea you could melt them a couple years ago. I thought it was always illegal to destroy US currency.
im a little tired of the funny looks I get asking for 50 rolls of pennies. I may now mix it up a little and get some nickels too.

[highroller4321]

Thanks... I guess I had no idea you could melt them a couple years ago. I thought it was always illegal to destroy US currency.
im a little tired of the funny looks I get asking for 50 rolls of pennies. I may now mix it up a little and get some nickels too.

Yes, that is one of the biggest myth's in the U.S


In my opinion it will be a long time untill the melt ban on nickels is lifted.

[JobIII]

Just imagine how easy it will be to sort US nickels if the new composition is magnetic If only zinc pennies were magnetic.

[purple and gold]

why would the govt even bother with lifting the ban? I am surprised that we can still melt 90%

[ZenOps]

Why would you melt a nickel? They are perfect already.

I suppose you might want to melt one to see if its pure nickel (like a gold coin assay) But its just as easy to shoot a bullet at it. Two layers of Canadian pure nickels should be able to stop small calibre weapons fairly easily. High Nickel content armor plating is pretty much the best stuff you can get or make, pure nickel by itself can be considered basic armor.

[creshka46]

Why would you melt a nickel? They are perfect already.

I suppose you might want to melt one to see if its pure nickel (like a gold coin assay) But its just as easy to shoot a bullet at it. Two layers of Canadian pure nickels should be able to stop small calibre weapons fairly easily. High Nickel content armor plating is pretty much the best stuff you can get or make, pure nickel by itself can be considered basic armor.

Interesting. Maybe in preparing for SHTF with hoards of pennies and silver we should also consider plating our vehicles with canadian nickels. Maybe we could even put a turret on the back that shoots zinc pennies with lethal force!

[ZenOps]

I was thinking more along the lines of medieval body armor, scalemail.

All of these preppers buying guns makes me think a $10 investment in nickels to line my back is probably money well spent. In a pinch they can buy a tin o' beans when you don't want to be paying an ounce of gold for a tin o beans.

I fully understand why nickel was worth more than silver during 1942 to 1945. You don't want the silver if things get that bad, you want the nickel.

And hence the name - Nickelback.

[Treetop]

Why would you melt a nickel? They are perfect already.

I suppose you might want to melt one to see if its pure nickel (like a gold coin assay) But its just as easy to shoot a bullet at it. Two layers of Canadian pure nickels should be able to stop small calibre weapons fairly easily. High Nickel content armor plating is pretty much the best stuff you can get or make, pure nickel by itself can be considered basic armor.

Interesting. Maybe in preparing for SHTF with hoards of pennies and silver we should also consider plating our vehicles with canadian nickels. Maybe we could even put a turret on the back that shoots zinc pennies with lethal force!

that is a hilarious mental picture.

[penny pretty]

LETHAL ZINC FORCE!!! new the bestest great anime movie from the japan!