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Thread: It costs over 9 cents to make a 5 cent nickel

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    Great Value Carrots Silver Rocket Bitches!'s Avatar
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    It costs over 9 cents to make a 5 cent nickel

    Got nickels? Soon they will be forced to remove or severely lower the content of nickel within the five cent piece.

    For the fifth year in a row, it cost the United States Mint more than face value to produce and distribute the cent and nickel. For the fiscal year ending, September 30, 2010, the unit cost for the cent was 1.79 cents and the cost of the nickel was 9.22 cents.

    For the one cent coin, this represents the highest unit cost on record. Each penny has a composition of 2.5% copper and 97.5% zinc. Although the metal value of each newly minted cent remains below face value, the process of manufacture and distribution push costs higher. For the fiscal year, production of the smallest denomination generated a loss of $27.4 million.

    The cost of producing the nickel, remained slightly below the peak of 9.53 cents per coin, reached for the 2007 fiscal year. Each nickel has a composition of 75% copper and 25% nickel. The metal value of a nickel is approximately 6.5 cents. For the current year, production of the denomination resulted in a loss of $15.2 million.
    http://news.coinupdate.com/cost-to-m...y-nickel-0619/
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    Frog Leg Whisperer chad's Avatar
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    Re: It costs over 9 cents to make a 5 cent nickel

    collecting bricks of nickels is the one gs-us activity i partake in that even i think is crazytown. :taunt:

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    Iridium Spectrism's Avatar
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    Re: It costs over 9 cents to make a 5 cent nickel

    Reading the comments, most think they need to devalue the coins to keep pace with the fiat. They have it backwards. There should be an established means of maintaining the value of the fiat to match the coin.

    We all know that won't happen as the banksters steal the inflation difference.

    This points back to CONgress needing to do their job and regulate the nation's money.... not give it to the private banksters via the federal reserve.
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    Re: It costs over 9 cents to make a 5 cent nickel

    Calling Mr. Gresham....Earth to Gresham. We have your coins over...
    Give the people control over their nations money, and they need not worry about those who make it's laws.

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    Unobtanium
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    Re: It costs over 9 cents to make a 5 cent nickel

    Just think about Ponce and his 90 bricks of nickel .
    "If you don't hold it, you don't own it"... Ponce

    "I'll never stop learning because I'll never stop reading"... Ponce

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    Moderator madfranks's Avatar
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    Re: It costs over 9 cents to make a 5 cent nickel

    If only we got 5 cents of value for everything the government spends 9 cents on.

    For what it's worth, I'd rather have stacks of silver than bricks of nickel. They both increase in their nominal value due to inflation.
    "Liberty is so creative, and the government is so stupid, that Iím very optimistic about the future"
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    Unobtanium
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    Re: It costs over 9 cents to make a 5 cent nickel

    Well Frank you know me.......a plan behind the plan behind the plan?........because no one really knows what is going to happen I want to be ready for anything that might happen.......I have all the silver that I either want or need so that loose change and specially nickels is part of my plans.
    "If you don't hold it, you don't own it"... Ponce

    "I'll never stop learning because I'll never stop reading"... Ponce

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    Moderator madfranks's Avatar
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    Re: It costs over 9 cents to make a 5 cent nickel

    Quote Originally Posted by Ponce
    Well Frank you know me.......a plan behind the plan behind the plan?........because no one really knows what is going to happen I want to be ready for anything that might happen.......I have all the silver that I either want or need so that loose change and specially nickels is part of my plans.
    Yeah, and you can't buy silver for 5/9ths it's metal value, so maybe there is something to it... I think I might buy a few bricks of nickels.
    "Liberty is so creative, and the government is so stupid, that Iím very optimistic about the future"
    - Lew Rockwell

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    Great Value Carrots Sparky's Avatar
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    Re: It costs over 9 cents to make a 5 cent nickel

    Collecting pennies and nickels is like a GSUS rite of membership, based on principle. I don't go out of my way to buy bricks, but I sort nickels and copper pennies out of my change. I don't expect it to make me wealthy.

    As a matter of fact, I am now reluctant to spend any change, because at least it contains some intrinsic value. Even zinc at $1 per pound is getting too expensive for the U.S. mint's bottom line. A quarter contains 6 cents of metal; a twenty dollar bill contains 1 cent of paper.

    I remember Ponce writing years ago that he doesn't spend any of his change. Still true Ponce?

  10. #10
    Unobtanium
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    Re: It costs over 9 cents to make a 5 cent nickel

    Haven't use any of my loose change sinse 1977........ Sparky, is not a matter of being "rich" but one of being to buy something with what you have.....between paper fiat and metal coins I would choose the coins.
    "If you don't hold it, you don't own it"... Ponce

    "I'll never stop learning because I'll never stop reading"... Ponce

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