2006-07-08 22:58:23 · 9 answers · asked by obostick 1 in Business & Finance ➔ Other - Business & Finance
According to the Royal Mint, the £1 coin weighs 9.5g, and is 70% copper, 24.5% zinc and 5.5% nickel.
According to the BBC website, the current prices (at the time I looked) on the commodities markets of the materials on the London market are:
Copper $ 7,675.00/tonne
Nickel $25,952.50/tonne
Zinc $ 3,352.50/tonne
Assuming an exchange rate of £1= $1.83725 (the current rate at the time I looked on the London market according to the BBC website), that makes the total material value of the £1 coin just less than 4 pence.
Or, £1 worth of materials can make 25 £1 coins.
2006-07-10 03:40:07 · answer #1 · answered by Neil 7 · 2⤊ 0⤋
Pound Coin Material
2016-12-13 04:25:11 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Now that question depends on what coin one is referring to!
Did you know that now it costs the US treasury more than 1 penny to make a penny...due to the cost of copper.
1 Month or so ago, I could have gotten 6 times face for any silver (pure) coin...when silver hit $16 per ounce...What a dummy I was. I did not act and silver is now about $10 an ounce.
One pound of silver coin (pre 1963) 100% silver is now worth $160 per pound....last month it was worth $256 a pound....
Does this help?
Master Quark
2006-07-08 23:09:22 · answer #3 · answered by Master Quark 3 · 0⤊ 1⤋
the £1 is worth not a lot, but the two-pence coin is worth a little bit more, in materials, that is. but you still need a shed load to get any value out of them
2006-07-08 23:07:00 · answer #4 · answered by greengunge 5 · 0⤊ 0⤋
What kind of material?
If I understand what you're asking, I think the nickel and penny are already worth more than the metal used to make them.
So collecting a pound of them would be worth quite a bit.
2006-07-08 23:02:10 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Apparently it costs 1.3 cents to make a penny.
A penny weighs 2.5 grams.
There are 453.592 grams in a pound.
That's 181.4 pennies in a pound.
Which would cost 235.87 cents to make.
You'd make about 54 cents per pound.
However, pennies are made up of several different kinds of metal, and if you melted them down you'd just have a big mess.
2006-07-08 23:08:32 · answer #6 · answered by andy 2 · 0⤊ 2⤋
One pound of flesh
2006-07-08 23:57:16 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Not a lot. If you are thinking of melting them down, don't bother.
2006-07-08 23:02:07 · answer #8 · answered by Perfect Prince 1 · 0⤊ 1⤋
2lbs of silk!
2006-07-08 23:01:48 · answer #9 · answered by Direktor 5 · 0⤊ 3⤋