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A nickel's melt value fell below its face value from late 2008 through mid-2010, and more recently again from late mid-2012. [114] In February 2014, it was reported that the Mint was conducting experiments to use copper-plated zinc (the same composition used for the United States 1 cent coin) for the nickel.
This allowed the saved nickel metal to be shifted to industrial production of military supplies during World War II. Few of these are still found in circulation. Prior to 1965 and passage of the Coinage Act of 1965 the composition of the dime, quarter, half-dollar and dollar coins was 90% silver and 10% copper.
The modern version of the nickel, featuring Thomas Jefferson, debuted in 1938 and replaced the Buffalo nickel, according to the U.S. Mint. If you have a 1971 Jefferson nickel, hold on to it — it ...
The Canadian five-cent coin, commonly called a nickel, is a coin worth five cents or one-twentieth of a Canadian dollar. It was patterned on the corresponding coin in the neighbouring United States. It became the smallest-valued coin in the currency upon the discontinuation of the penny in 2013 .
The Jefferson nickel has been the five-cent coin struck by the United States Mint since 1938, when it replaced the Buffalo nickel.From 1938 until 2004, the copper-nickel coin's obverse featured a profile depiction of Founding Father and third U.S. President Thomas Jefferson by artist Felix Schlag; the obverse design used in 2005 was also in profile, though by Joe Fitzgerald.
Jefferson nickels have been minted since 1938 at the Philadelphia and Denver mints and from the San Francisco mint until 1970. Key dates for the series include the 1939-D, and 1950-D nickels. The 1939-D nickel with a mintage of 3,514,000 coins is the second lowest behind the 1950-D nickel.
It decided on clad coinage, with copper-nickel faces and a pure copper core, as the most desirable replacement material. Such a composition would work in place of silver in vending machines, which would not require wholesale adjustment. Copper and nickel were readily available, and the melt value of the new coins would be much under face value.
This chart shows all of the coin types, and their sizes, grouped by coins of similar size and by general composition. [ 1 ] Seven distinct types of coin composition have been used over the past 200 years: three base coin alloys , two silver alloys, gold , and in recent years, platinum and palladium .