Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (27786)	12/14/2006 11:42:39 AM
From: aknahow	Read Replies (3) \| Respond to of 78419

More evidence that higher metal prices are here to stay. "A nickel is 25 percent nickel and 75 percent copper. The metal in one coin costs 6.99 cents for each 5-cent coin. When the Mint's cost of producing the coins is added, the total cost for each nickel is 8.34 cents. Modern pennies have 2.5 percent copper content with zinc making up the rest of the coin. The current copper and zinc in a penny are worth 1.12 cents. The cost of production drives the cost of each penny up to 1.73 cents. Pennies made before 1982, which are still in circulation, would be even more lucrative to melt down because they contain 95 percent copper and only 5 percent zinc. The metal value in those coins is 2.13 cents per coin, Mint officials said. The new regulations are being published in the Federal Register and will go into effect as interim rules which will not become final until the government has a chance to consider possible modifications based on public comments." IMO the U.S. will be forced to move to aluminum coins just like those in use in many other countries in South America. Or the penny is abandoned and the nickel converted to cheaper metals. Who was going to melt them down anyway? Scrap dealers probably and making it illegal will slow down the process. Transporting in bulk to Mexico and or Canada now becomes illegal and that will hinder many. But the big factor is OLD PEOPLE and coin collectors. See any silver quarters recently? How about half dollars. Now old people in the U.S. will start piling up pennies and nickels for their grandkids.<g> ___