Canadian .999 % still out there

[mtalbot_ca]

Hi there,

I just finished sorting my poorest box of nickel since I started. I got a bare 8%. I would like to know what you are hitting these days elsewhere in Canada.

Thanks,

[m21221]

That's sure better that the 1 per 20 box average I have here in the U.S.

[ZenOps]

A little bit over 10% now. Was 11% last year. Although I have to admit, I've also been going for more pennies this year, as the cutoff date approaches.

It seems to be decreasing at 1% per year for me. I might slow down at two nickels per fourty in a roll, or about 5%.

[CanadianCopper]

Good question mtal! Right now I am averaging under 10% and I would say that getting between 7-9% on a typical box. However, my brother is sorting a box of nickels a week and I would say we is averaging right around 10%.

I could see the percentage decreasing at 1% a year which, unfortunately, doesn't leave much time left to get them out of circulation.

[camtender]

Are these boxes obtained straight from banks in rolls you are getting?

[frugalcanuck]

Ive been 8 - 10% for two years now

[mtalbot_ca]

Are these boxes obtained straight from banks in rolls you are getting?

These are boxes I get from my credit union.

[slvrbck]

I have to say I'm a Lil jealous of your ability to still find 10% nickel up there in Canada. I'd be hoardin that stuff like crazy

[camtender]

Are these boxes obtained straight from banks in rolls you are getting?

These are boxes I get from my credit union.

My understanding (which is most likely wrong) is that the Canadian banks under the system get the rolls from the vendor/processor that is sorting for metals????

Is the credit unions rolling there own coin to get the nickel in the rolls?

[mtalbot_ca]

All banks and CU are operating basically the same when it comes to coins.

I think that the only machine-wrap or processed coins are the ones that are fresh from the mint. All others are customer rolled coins. In order to get large amount or to deposit large amount (i.e. above one roll....) every coin must be rolled. As an example, I came across one mint-wrap roll in the 4,500 rolls (or so) that I have done so far.

Hope this helps

[fansubs_ca]

Some depositors have rolling machines of course, I've seen a few boxes marked
on the outside as having been rolled by Winnipeg Transit and they were all machine
rolled. For the volume they have to deposit it must save an immense amount of
labour.

I don't have any recent stats because it's been a while since I did a batch I kept
count on. At some point I'll have to gather about $250 in nickels and do that
again so I have a decent sample size. Last time I did that with $500 worth and
found that's a bit too intensive when you aren't using a counting machine.

[mtalbot_ca]

Some depositors have rolling machines of course, I've seen a few boxes marked
on the outside as having been rolled by Winnipeg Transit and they were all machine
rolled. For the volume they have to deposit it must save an immense amount of
labour.

I don't have any recent stats because it's been a while since I did a batch I kept
count on. At some point I'll have to gather about $250 in nickels and do that
again so I have a decent sample size. Last time I did that with $500 worth and
found that's a bit too intensive when you aren't using a counting machine.

Good point.

[camtender]

All banks and CU are operating basically the same when it comes to coins.

I think that the only machine-wrap or processed coins are the ones that are fresh from the mint. All others are customer rolled coins. In order to get large amount or to deposit large amount (i.e. above one roll....) every coin must be rolled. As an example, I came across one mint-wrap roll in the 4,500 rolls (or so) that I have done so far.

Hope this helps

Thank you, it does help.

On the average day, can you walk into a CU and they will have customer wrapped nickels? Or do you need them to save them for you?

[mtalbot_ca]

They carry a limited amount at any given time. I only get one box per week, I do not ''order the box'' and they do not mind. Usually you have to have an account there to get a box if you do not they will probably only give you what they can spare from their own ''cash'', but basically all they have are ''customer's'' bank rolls and the ''customer'' can be:
- you and me; or
- a business.

Cheers,

[fasTT]

Time saving tip.

Don't even open the Coin Canada rolls. We already got the good ones

[mtalbot_ca]

Time saving tip.

Don't even open the Coin Canada rolls. We already got the good ones

Ahhhhh! You are the evil mind behind all this

[camtender]

Thanks again for the information. What do the rolls look like have the .999% removed (I assume they have the same wrappers)?

[mtalbot_ca]

Thanks again for the information. What do the rolls look like have the .999% removed (I assume they have the same wrappers)?

No change, except for the fact that they are lighter. You see, the weights of a .999 and a cupronickel coin are 4.5 and 4.6 grams respectivetly and the steel ones are 3.95 grams each.

Cheers,

[camtender]

I might have asked that in the wrong manner. Is there just one government vendor that sorts, removes .999% and wraps the nickles? If so, I would guess that you could recognize the nickles from a particular wrapper coming from the banking system vs. ones that have not gone through the processes which removes the .999%.

[fasTT]

Every single roll that has our name on it has been processed.

Don't waste your time.

[mtalbot_ca]

I might have asked that in the wrong manner. Is there just one government vendor that sorts, removes .999% and wraps the nickles? If so, I would guess that you could recognize the nickles from a particular wrapper coming from the banking system vs. ones that have not gone through the processes which removes the .999%.

The governement is doing a Alloy Recovery Program (ARP) but I do not think that it processes nickels yet. They concentrated their effort on the .999 quarter instead.

[henrysmedford]

The governement is doing a Alloy Recovery Program (ARP) but I do not think that it processes nickels yet. They concentrated their effort on the .999 quarter instead.

They have pulled nickels in the past--

http://www.brinksinc.com/journalArchive/Brinks_Journal_Issue11.pdf

In 2008, discussions and negotiations commenced to provide
Alloy Recovery Program services (ARP) in Toronto. The ARP
separates steel plated coins from alloy coins in quarters, dimes
and nickels, at which point the Mint demonetizes and sends them
to U.S. smelting operations to extract the specific alloys that will
be for sale on the world market.

[fasTT]

I might have asked that in the wrong manner. Is there just one government vendor that sorts, removes .999% and wraps the nickles? If so, I would guess that you could recognize the nickles from a particular wrapper coming from the banking system vs. ones that have not gone through the processes which removes the .999%.

The governement is doing a Alloy Recovery Program (ARP) but I do not think that it processes nickels yet. They concentrated their effort on the .999 quarter instead.

They absolutely have been doing nickels. When I started sorting, i was getting 23 - 25%. 2 months after the mint jumped in, it immediately dropped to 15% and now hovers in the 8 - 10% range.

[mtalbot_ca]

I might have asked that in the wrong manner. Is there just one government vendor that sorts, removes .999% and wraps the nickles? If so, I would guess that you could recognize the nickles from a particular wrapper coming from the banking system vs. ones that have not gone through the processes which removes the .999%.

The governement is doing a Alloy Recovery Program (ARP) but I do not think that it processes nickels yet. They concentrated their effort on the .999 quarter instead.

They absolutely have been doing nickels. When I started sorting, i was getting 23 - 25%. 2 months after the mint jumped in, it immediately dropped to 15% and now hovers in the 8 - 10% range.

Thanks for the update, the same happened to me and boom all gone, but I though I only dried out my little nickel patch.

[ZenOps]

Natural dilution with cupronickel and iron nickels also factors in.

In the year 2000 hoarded or not, there should have been 1.9 billion pre-81 pure nickels and 1.6 billion cupronickels. Meaning about 55% of nickels were pure. By the year 2011, they produced another 2.1 billion iron nickels. Which means if noone hoarded any nickel nickels at all, by natural dilution to this date - almost exactly 1/3rd should be nickel nickels, 1/3rd cupronickel, and 1/3rd iron nickels (33% each approximately)

So no, actually I think that its just normal people hoarding nickels after the runup to $23 per pound in 2007 (and hence a 23 cent nickel) Assuming that 2/3rds of the 1/3rd of remaining nickel nickels have been hand hoarded over the last 30 years - gives about 10%, which is where we are at now.

I don't think the ARP has been doing nickels at all. But for sure they did it back before 1954, its the only way to account for the ridiculously low number of pre-51s.

BUT: Its still a good time to do nickels, a lot of hoarders seem to have partially capitulated their hoard when at $7, I got two rolls of 1967 rabbits on a recent hunt.