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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. [115]
U.S. coins worth five cents have been around since 1794, but they were called "half dimes" during the early decades. The term "nickel" wasn't (um) coined until 1866, though the smaller half dime...
The US nickel coin contains 0.04 ounces (1.1 g) of nickel, which at the April 2007 price was worth 6.5 cents, along with 3.75 grams of copper worth about 3 cents, with a total metal value of more than 9 cents. Since the face value of a nickel is 5 cents, this made it an attractive target for melting by people wanting to sell the metals at a profit.
Used unknowingly in alloys since antiquity. The first pure nickel coin was the Swiss 20 Rappen of 1881. A book published by the International Nickel Company of Canada in 1933 lists dozens of coins minted out of nickel. Platinum: The Russian 3, 6, and 12 ruble coins of Nicholas I, issued 1828–1845, were the world's only circulating platinum coins.
On May 11, 2011, Utah became the first state to accept these coins as the value of the precious metal in common transactions. The Utah State Treasurer assigns a numerical precious metal value to these coins each week based on the spot metal prices. The bullion coin types include "S" (San Francisco, 1986–1992), "P" (Philadelphia, 1993 – 2000 ...
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.
Precious metals in the form of coins whose market value is determined by metallic content rather than scarcity. bullion value The current market value of the raw precious metal content of a coin. For example, the bullion value for Canadian silver coins minted between 1920 and 1966 is 12 times the face value when silver is $20.00 per troy ounce.
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