Yahoo Finance
EconomistPeter Schiffis making the case for stockpiling nickels, arguing the metal packed into each five-cent coin is now worth more than its face value and could make a better bet than U.S.
In a recent post on X, Schiff said the copper and nickel contained in modern nickels is worth about 7.76 cents — roughly 55% more than their face value — and suggested people buy them from banks before the U.S.
government potentially stops producing them.
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Much better than Treasuries,"Schiff wrote.
There is, however, one fairly important catch:federal law typically prohibitsAmericans from melting U.S.
Schiff's case comes down to what the coins themselves are made of.
Mint, a nickel weighs 5 grams and contains 25% nickel, with copper making up the remaining 75%.
That works out to about 1.25 grams of nickel and 3.75 grams of copper in every five-cent coin.
Schiff has made a similar argument about pennies.In another post on X, he said a pre-1982 penny, which contains substantially more copper than newer mintings, had a melt value of 4.46 cents when copper was trading at $6.85 per pound.
He calculated the metal in newer, mostly zinc pennies at about 1.07 cents.
The cost of producing America's smallest coins has also climbed well above their face value.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
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| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
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| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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