Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value: | ||
| $3.6426 | = | copper price / pound on Sep 11, 2012. |
| .75 | = | copper % |
| $7.5328 | = | nickel price / pound on Sep 11, 2012. |
| .25 | = | nickel % |
| 5.00 | = | total weight in grams |
| .00220462262 | = | pound/gram conversion factor (see note directly below) |
The NYMEX uses pounds to price these metals, that means we need to multiply the metal price by .00220462262 to make the conversion to grams. 1. Calculate 75% copper value : (3.6426 × .00220462262 × 5.00 × .75) = $0.0301141 2. Calculate 25% nickel value : (7.5328 × .00220462262 × 5.00 × .25) = $0.0207585 3. Add the two together : $0.0301141 + $0.0207585 = $0.0508726 $0.0508726 is the melt value for the 1946-2012 nickel on September 11, 2012. | ||
More @ Charleston Voice
Actually the value is down a bit right now. Copper was well over 4 a couple of years ago so nickels were worth more.
ReplyDeleteSpeaking of copper,
Pennies pre 1982 are over .02 now. Roll of 50 worth 1.20. (exceptions are war years steel pennies)
Also, some war year nickels have a high silver content. Worth 33.48 right now.
See coinflation.com
Terry
Fla
Thanks. I have 90% dimes.
DeleteThe govt makes $ as efficiently as they spend it. :)
ReplyDelete