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And that's much more than the raw materials... A nickel is 75% copper and 25% nickel. There are 2000lbs in a ton. That's 1500lbs of copper and 500lbs of nick
by nogbit 9y ago
And that's much more than the raw materials...
A nickel is 75% copper and 25% nickel.
There are 2000lbs in a ton. That's 1500lbs of copper and 500lbs of nickel.
Scrap pricing is $2.50/lb for copper, $3750.
Scrap pricing is $4.83/lb for nickel, $2415.
Total = $6165
- mehrdadn 9y ago> A nickel is 75% copper and 25% nickel. Interesting, I thought nickle was the coin and nickel was the metal, but it seems that isn't the case and/or changed. (?)
- dredmorbius 9y agoCoinage has a marked propensity to debase. "For in every country of the world, I believe, the avarice and injustice of princes and sovereign states, abusing the confidence of their subjects, have by degrees diminished the real quantity of metal, which had been originally contained in their coins." -- Adam Smith, Wealth of Nations https://en.wikipedia.org/wiki/Denarius#Debasement_and_evolution https://en.wikipedia.org/wiki/Denarius#Debasement_and_evolut... https://en.wikipedia.org/wiki/Denarius#/media/File%3AFineness_of_early_Roman_Imperial_silver_coins.png https://en.wikipedia.org/wiki/Denarius#/media/File%3AFinenes...