War Nickels

[NGE]

I have over 250 war nickels, called a coin shop the other day and they are only paying 30 cents each for them, am I getting screwed? Coinflation says there's 2.53 in silver melt value in each one, but realistically, is there anyone who would actually pay that much for each one, if not, then I'd rather spend the dang things, and let someone else have the thrill of finding one in circulation ..........NGE

 

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[Mackaydon]

My math is different:
Each war nickel contains 0.05626 ounces of silver.
250 war nickels contains 1.4065 ounces of silver.
Assume $47 per oz. for the current value of silver.
1.4065 oz. X $47 is about $66 in total silver melt value.
$66 divided by 250 is 26.4 cents per coin in melt value.
Don.......

 

[mts]

My math is different:
Each war nickel contains 0.05626 ounces of silver.
250 war nickels contains 1.4065 ounces of silver.
Assume $47 per oz. for the current value of silver.
1.4065 oz. X $47 is about $66 in total silver melt value.
$66 divided by 250 is 26.4 cents per coin in melt value.
Don.......

Your math is a little off. 250 x 0.05626 = 14.065, not 1.4065. The coinflation silver melt calculator puts the melt value of these coins at $661. So yes, 30 cents each is a rip off. You probably won't get $2.63 each for them (especially from a dealer), but 30 cents is nowhere near what they are worth. Especially with silver flying off of the shelves. What is this same dealer selling them for? I'd bet that he is selling them for closer to $2.50 each.

APMEX is buying them for $2.16 each in quantities that exceed $10K. So use that as a general guideline.

 

[Mackaydon]

MTS: Yes, you're right; thanks for the correction.

 

[FingerGrime]

30 cents is a terrible deal
You can easily sell them on eBay and make a lot more than that.

 

[rfishoutofwater]

they been selling on feebay for $2.25 and up. so thats a rip off.

 

[Emperor Findus Cladius]

You can find people on craigslist paying way more than that. Take a look at that, you do not have to mess with any fees.

 

[ivan salis]

30 cents is a insult -- its less than 15% of current silver melt value -- ($2.17) screw that . should be more like $1 ( at least about half of melt value -- and thats still a bit on the tight end)