Canadian Nickel - Price comparison

[mtalbot_ca]

I have often read that .999 cdn nickels, currently being sold at around 14$ per pound (shipped and depending on quantities) is considered overpriced. I wanted to compare it to silver fractionnals and see what the difference would be.

Here what I came up with:

For Silver:

Unit Price Price per oz % over melt price
1 oz (généric) 39,95 $ 39,95 $ 17,8%
1 oz (ASE) 43,44 $ 43,44 $ 28,1%
1/2 oz (90%) 23,50 $ 47,00 $ 38,6%
1/2 oz 25,50 $ 51,00 $ 50,4%
1/4 oz 14,95 $ 59,80 $ 76,4%
1 gram 1,66 $ 51,63 $ 52,3%

For nickel:

Melt price per pound If unit price is .14 cents each then % over melt is for

7,53 $ 85,9%
8,00 $ 75,0%
9,00 $ 55,6%
10,00 $ 40,0%
11,00 $ 27,3%
12,00 $ 16,7%
13,00 $ 7,7%
14,00 $ 0,0%

Not as bad as I thought. At a melt price of around 9$ per pound, the cdn nickels becomes more competitive. Any thoughts?

Cheers,

[barrytrot]

Where are you selling them for $14/pound, that's WAY over anything I've seen. I would say more like $10 to $12 per pound is the "market rate".

[mtalbot_ca]

All prices are shipped.

It is about 10 dollars per pound + shipping. I've put the worst case scenario, shipping from Eastern Canada to California so 14 dollars per pound.

[barrytrot]

In the market I've been tracking for the last year, it's $10 to $12 per pound including shipping.

In fact, Highroller's auction ended in the $8.6/pound SHIPPED range.

Flat rate shipping makes the destination and origination meaningless.

Naturally shipping FROM Canada will beef up the shipping prices a LOT, but "US" to "US" is going in the $10 to $12 per pound INCLUDING shipping and has been for over a year.

[NHsorter]

10-12 is a little high in my recent experiences. Some that know me say I am a cheapskate though.

[ZenOps]

Canada to Canada, probably $8/pound is reasonable, slightly over spot.

I've actually been trying to get US nickels this year. Offering $110Cdn to anyone willing to simply go to a bank and bring back a box for me if they can't find anything else to fill up their duty quota limit.

http://www.cbc.ca/news/business/story/2 ... imits.html

It was near impossible before, because the maximum on all goods (not just nickels or pennies) used to be $50 per day, or $400 over a 48-hour, of which most people usually went to the US to buy cheap milk and clothing (and gasoline, but noone ever declares their gasoline)

[henrysmedford]

Just posting this for fun but it is true.

I've actually been trying to get US nickels this year. Offering $110Cdn to anyone willing to simply go to a bank and bring back a box for me if they can't find anything else to fill up their duty quota limit

You can not take over $5 in pennies are $5 in nickels out of the US on your person. From http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=724

The regulations also prohibit the unlicensed exportation of these coins, except that travelers may take up to $5 in these coins out of the country,

And

The new regulations authorize 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 regulations. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

But you can haul up to 10k of your coin to here it might be a little less and the Canadian dollar is worth more than the US from a old thread of ours.


So I Emailed Canada Border Services Agency this--

Transporting Canadian coins out of Canada
I live in the US and my son who has autism like to collect coins he has a Canadian set started. I asked a friend if he could buy me some rolls of coins the next time he is a Canada and bring them back. He is worry that it might be not lawful to do so as it is unlawful to take more than $5 US dollars of US 1 cent and 5 cent out. See -- http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=724. The fines on the US side can be stiff " of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulations. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government".
So is it the same way taking coins out of Canada.

Thanks
Joe Henry

RE: Transporting Canadian coins out of Canada **8553**
X
Reply
CBSA-ASFC_CONTACT to jkft
show details 1:08 PM (7 hours ago)
The Canada Border Services Agency (CBSA) appreciates your interest in ensuring that you meet the Cross Border Currency Reporting requirements upon exiting Canada. As you may be aware, the CBSA is responsible for the administration and enforcement of Part II of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Part II requires the reporting of currency or monetary instruments in the actual possession of a person arriving in or departing from Canada. Each traveller is responsible for his or her own declaration.

There are no restrictions on the amount of currency or monetary instruments that you can bring into or take out of Canada, nor is it illegal to do so. However, you have to report to the CBSA amounts equal to or greater than CAN$10,000 or its equivalent in foreign currency. If you require further information on the CBSA’s Cross Border Currency Reporting Program, please visit our Web site at
http://www.cbsa-asfc.gc.ca/security-sec ... u-eng.html

For information regarding the importation of coins into the United States, we suggest that you contact U.S. Customs and Border Protection for assistance with this matter at http://www.cbp.gov ,
or 1-703-526-4200.

We trust that this information is useful to you. Thank you for contacting the Canada Border Services Agency.

[mtalbot_ca]

At 12$ per pound delivered, the nickels compare quite nicely with some of the fractionnal silvers:

Melt price per pound if unit price is .12 cents each
then % over melt is:

Melt value %
7,53 $ 59,4%
8,00 $ 50,0%
9,00 $ 33,3%
10,00 $ 20,0%
11,00 $ 9,1%
12,00 $ 0,0%
13,00 $ -7,7%
14,00 $ -14,3%

[ZenOps]

$5 as "money", $100 for numismatic purposes.

Numismatic is "dutiable". I am actually still looking to round out my US nickel collection. I am missing 1950 and 1951 (should have found them by now, but sometimes its just dumb luck) Found one US war nickel this year as well.

Regular US nickels in circulation are between 1 and 2% per box where I am. It takes me going through a hundred boxes to get a full box of US nickels.

[nero12345]

Canada to Canada, probably $8/pound is reasonable, slightly over spot.

I've actually been trying to get US nickels this year. Offering $110Cdn to anyone willing to simply go to a bank and bring back a box for me if they can't find anything else to fill up their duty quota limit.

http://www.cbc.ca/news/business/story/2 ... imits.html

It was near impossible before, because the maximum on all goods (not just nickels or pennies) used to be $50 per day, or $400 over a 48-hour, of which most people usually went to the US to buy cheap milk and clothing (and gasoline, but noone ever declares their gasoline)

So if anyone is selling Pure Canadian Nickel for $8 a pound shipped to Nova Scotia, Canada,,,, I'M BUYING. I will never go to the bank, then run them through the ryedale, then re roll the 80% or so post 81' nickels that i don't keep and return them to the bank again. LOL. Can't wait till they reach the double digits again. They were the funs times

[scyther]

Melt value %
7,53 $ 59,4%
8,00 $ 50,0%
9,00 $ 33,3%
10,00 $ 20,0%
11,00 $ 9,1%
12,00 $ 0,0%
13,00 $ -7,7%
14,00 $ -14,3%

Do you mind if I ask why you're using a comma instead of a decimal point? According to this, it seems Canada (and every other English speaking country in the world) uses a decimal point, so I'm kind of confused...

http://upload.wikimedia.org/wikipedia/c ... arator.svg

[henrysmedford]

Do you mind if I ask why you're using a comma instead of a decimal point? According to this, it seems Canada (and every other English speaking country in the world) uses a decimal point, so I'm kind of confused...

http://upload.wikimedia.org/wikipedia/c ... arator.svg

I ask myself the same thing and found out this --

French Canadian use Arabic numerals with decimal comma see- http://en.wikipedia.org/wiki/Decimal_mark#Countries_using_Arabic_numerals_with_decimal_comma

Also the $ goes after the number From--http://ca.answers.yahoo.com/question/index?qid=20071201135756AAlYc6X

Officially, you write the decimal point as a comma and the dollar sign after the number, like 28,95$

[scyther]

Do you mind if I ask why you're using a comma instead of a decimal point? According to this, it seems Canada (and every other English speaking country in the world) uses a decimal point, so I'm kind of confused...

http://upload.wikimedia.org/wikipedia/c ... arator.svg

I ask myself the same thing and found out this --

French Canadian use Arabic numerals with decimal comma see- http://en.wikipedia.org/wiki/Decimal_mark#Countries_using_Arabic_numerals_with_decimal_comma

Also the $ goes after the number From--http://ca.answers.yahoo.com/question/index?qid=20071201135756AAlYc6X

Officially, you write the decimal point as a comma and the dollar sign after the number, like 28,95$

Oh, right, I forgot about French Canada. It was all one color on the map. Still not sure why you would use it that way in English but whatever.

[mtalbot_ca]

Hi there,

In my case, it is simplier than that.

I use MS-Excel, which is set-up that way so when I cut and paste, the commas are following.

Cheers,