If it is costing more to make nickels and pennies than they are worth will they quit making them and if so will their value one day increase?
2006-06-28 09:12:53 · 4 answers · asked by notyours 5 in Business & Finance ➔ Other - Business & Finance
No one will be making serious money by selling the copper or nickle that is in these coins. Besides being illegal to melt down, the mint will not produce these coins at such a loss. Eventually, they will either end production or change the coins' composition like they did in 1964 with the quarters and dimes.
2006-06-28 09:27:12 · answer #1 · answered by jlamb_2000 2 · 1⤊ 0⤋
Yes. It is true that if the price of Nickel goes up, then the Nickel in your nickel goes up (and the same with pennies).
In the past, people used to melt pennies to get the copper out of them, because the copper was worth more.
To counter this, they started making cheap alloys. The Nickel and the Copper in your coins is not pure. There is actually very little and the rest is just cheap metal. Also, as they continue to make coins, they make them lighter and the border around the coin is cut deeper to use less material.
Really, even with inflation, and a rise in metal prices, it will be long before the Nickel in you nickel will be worth more than 5cents.
2006-06-28 09:15:58 · answer #2 · answered by FY 4 · 0⤊ 0⤋
if you put a 2006 nickel and penny away today in 30 years each one could b worh 5.00 each
2006-06-28 09:20:29 · answer #3 · answered by cwb63ss 6 · 0⤊ 0⤋
yeah!!! in about 2121 it wil be worth a lot!
2006-06-28 09:16:10 · answer #4 · answered by bekka 3 · 0⤊ 0⤋